Incentive Award Distribution Sample Clauses

Incentive Award Distribution i. The Incentive Award will be delivered in the form of restricted stock units (“RSUs”) with a grant date value of $750,000; and performance stock units (“PSUs”) with a grant date value of $750,000. i. The RSUs are expected to be granted on March 10, 2021 and would vest ratably over 3 years from the grant date (provided the applicable vesting conditions are met). ii. The PSUs are expected to be granted on March 10, 2021 and would vest after three years from the grant date to the extent the applicable performance conditions as described in Appendix A are met, as determined by the Compensation Committee of the Board, and other vesting conditions are met. a. The total number of RSUs and PSUs granted each will be calculated by dividing the $750,000 value of the respective award by the fair market value of one Share on the grant date and rounding up to the nearest whole Share. The number of RSUs and PSUs will be fixed on the grant date accordingly and the number of Shares to be issued to Employee at the time of vesting of the RSUs and PSUs will be equal to the number of RSUs granted and the number of PSUs earned based on achievement of the performance conditions. The future value of the Shares underlying those RSUs and PSUs is unknown and cannot be predicted with certainty. Therefore, the actual value of the Shares Employee may receive at the time of vesting of the RSUs and PSUs, as applicable, could turn out to be less than, or more than, $750,000. b. The RSUs and PSUs will be granted under, and subject to the terms and conditions of, the Company’s Incentive Stock Plan of 2013 (the “Plan”), as well as the terms and conditions of the applicable RSU and PSU agreements, which will be provided to Employee as soon as practicable after the grant date and which Employee will be required to sign or accept in accordance with the Company’s acceptance procedures. If there is any conflict between the terms of this Agreement and the terms of the Plan and the RSU and PSU agreements, the terms of the Plan and the RSU and PSU agreements will prevail.
Sample 1
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Related to Incentive Award Distribution

  • Award Distribution In the event Lessor accepts Lessee's offer to purchase the Leased Property, or to substitute a new property for the Leased Property, as described in clause (b) of Section 15.4, the entire Award shall belong to Lessee provided no event of default is continuing and Lessor agrees to assign to Lessee all of its rights thereto. In any other event, the entire Award shall belong to and be paid to Lessor, except that, if this Lease is terminated, and subject to the rights of the Facility Mortgagee, Lessee shall be entitled to receive from the Award, if and to the extent such Award specifically includes such items, the following: (a) A sum attributable to the Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 10.2(c) and the value, if any, of the leasehold interest of Lessee under this Lease; and (b) A sum attributable to Lessee's Personal Property and any reasonable removal and relocation costs included in the Award. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the cost of the restoration.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • 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.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee. b) The Executive shall be eligible to receive grants under the Company's long-term incentive plans as in effect from time to time; provided, however, that the size, type and other terms and conditions of any such grant to the Executive shall be determined by the Compensation Committee.

  • 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 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 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.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • 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.

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