Fiscal Year 2008 Performance-Based Restricted Share Grant Sample Clauses

Fiscal Year 2008 Performance-Based Restricted Share Grant. On or about February 4, 2008, assuming that Employee is employed at that time, Employee shall receive under the Stock Incentive Plan an additional grant of Restricted Shares with a value of Two Million Seven Hundred Thousand Dollars ($2,700,000) as of the date of the grant. (i) One half of these Restricted Shares (with a value of One Million Three Hundred Fifty Thousand Dollars ($1,350,000)) (“2008 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2008”) shall become vested based upon achievement of the performance goals set by the HRCC for Fiscal Year 2008, and the other one-half of these Restricted Shares (with a value of One Million Three Hundred Fifty Thousand Dollars ($1,350,000)) (“2008 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2009”) shall become vested based upon the achievement of the performance goals set by the HRCC for Fiscal Year 2009. (ii) Performance metrics (among Net Income; GMROI Dollars ($); Total Sales; EBITDA) and numerical values for the selected performance metrics will be in line with the respective targets under the Company Plan for Fiscal Year 2008 and Fiscal Year 2009, respectively, as well as in line with the respective targets for the cash bonus under the Cash Bonus Plan for each such respective fiscal year of the Company, as determined by the HRCC in the normal course (i.e., in the first quarter of the applicable Fiscal Year). (iii) The Restricted Shares granted pursuant to this Paragraph 6(b) of this Third Amendment shall be forfeited to the extent not vested based upon the performance of the Company in Fiscal Year 2008 or Fiscal Year 2009, as applicable, subject to Paragraph 6(b)(iv) of this Third Amendment. (iv) The performance-based Restricted Shares granted pursuant to this Paragraph 6(b) of this Third Amendment that are not earned and vested as of the effective date of Employee’s termination of employment for any reason, whether initiated by Employee or by the Company shall be forfeited, subject to the following: (A) In the event that Employee, on or after February 3, 2008 and prior to January 31, 2009, is discharged without Cause or resigns for Good Reason, the Restricted Shares awarded pursuant to the 2008 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2008, which under their terms, are not vested as of the date of such termination of employment, shall become vested to the extent provided in such performance schedule established with res...
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Related to Fiscal Year 2008 Performance-Based Restricted Share Grant

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • Performance Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

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