Common use of Form of Award Clause in Contracts

Form of Award. The Company hereby grants to Grantee on the Grant Date [#Granted - EPS] Adjusted Earnings Per Share (“EPS”) Performance Stock Units. The Performance Stock Units are in all respects limited and conditioned as hereinafter provided, and are subject in all respects to the Plan’s terms and conditions, as amended. During the performance cycle, the Award shall consist of stock units but any portion of the Award that ultimately vests will be delivered in Shares. The number of Shares that will vest and be delivered, if any, may range from 0-200% of the [#Granted - EPS] Performance Stock Units granted. Any accumulated dividend equivalents will be paid in cash pursuant to paragraph 3 below. Shares will vest and be delivered only after approval by the Compensation and Organization Committee of the Company’s Board of Directors (the “Committee”) of the achievement of Company performance criteria previously established and approved by the Committee for the performance cycle (each a “Vesting Date” and as defined in the applicable LTI Brochure). In the event an adjustment pursuant to Section 11.2 of the Plan is required, the number of Shares that may ultimately vest under the Award, if any, shall be adjusted in accordance with Section 11.2 of the Plan. All Shares that may ultimately vest under the Award, if any, after such adjustment shall be subject to the same restrictions applicable to any Shares that may have vested under this Agreement before the adjustment.

Appears in 2 contracts

Samples: Performance Restricted Stock Unit Agreement (Campbell Soup Co), Performance Restricted Stock Unit Agreement (Campbell Soup Co)

AutoNDA by SimpleDocs

Form of Award. The Company hereby grants to Grantee on the Grant Date [#Granted - EPSTSR] Adjusted Earnings Per Share Relative Total Shareholder Return (“EPSTSR”) Performance Stock Units. The Performance Stock Units are in all respects limited and conditioned as hereinafter provided, and are subject in all respects to the Plan’s terms and conditions, as amended. During the performance cycle, the Award shall consist of stock units but any portion of the Award that ultimately vests will be delivered in Shares. The number of Shares that will vest and be delivered, if any, may range from 0-200% of the [#Granted - EPSTSR] Performance Stock Units granted. Any accumulated dividend equivalents will be paid in cash pursuant to paragraph 3 below. Shares will vest and be delivered only after approval by the Compensation and Organization Committee of the Company’s Board of Directors (the “Committee”) of the achievement of Company performance criteria previously established and approved by the Committee for the performance cycle (each a “Vesting Date” and as defined in the applicable LTI Brochure). In the event an adjustment pursuant to Section 11.2 of the Plan is required, the number of Shares that may ultimately vest under the Award, if any, shall be adjusted in accordance with Section 11.2 of the Plan. All Shares that may ultimately vest under the Award, if any, after such adjustment shall be subject to the same restrictions applicable to any Shares that may have vested under this Agreement before the adjustment.

Appears in 2 contracts

Samples: Performance Restricted Stock Unit Agreement (Campbell Soup Co), Performance Restricted Stock Unit Agreement (Campbell Soup Co)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!