Matched Performance Share Units Sample Clauses

Matched Performance Share Units. Executive may make a personal investment of any amount in Company shares prior to September 1, 2013 but only at such time as the Company permits trading in its shares by its executive officers and only so long as Executive is not then in possession of material non-public information, as determined by the Company. Any such purchase shall be made on the market and during a period of open trading in accordance with applicable law. Executive shall retain ownership of such purchased shares up to $5,000,000 in aggregate purchase price for a period of five (5) years (or, if shorter, the Employment Term); any additional purchased shares in excess of $5,000,000 in aggregate purchase price shall not be subject to the ownership requirement. Effective as of the later of the Employment Commencement Date and a date on or about the date of such investment (following production of appropriate documentation of such purchase price), the Company shall grant Executive special performance share units ("Matched PSUs"). The initial number of such Matched PSUs shall equal the dollar amount of Executive's personal investment Exhibit 10.1 up to a maximum of $2,500,000, divided by the Fair Market Value (as defined in the applicable equity incentive plan) of a share of Company Stock as of the applicable grant date. Executive shall retain ownership of the after-tax portion of the shares issued in respect of the Matched PSUs for a period of two (2) years from the date of delivery of such shares. The Matched PSUs shall vest on the last day of the Employment Term, provided the applicable share price thresholds as set forth in the applicable award agreement are met and the Executive is then employed by the Company. Upon an earlier termination of employment by the Company without Cause or by Executive for Good Reason, the Executive shall be eligible to vest in a prorated portion of such Matched PSUs based upon Executive's completed term of service and achievement of applicable performance criteria. Upon termination due to death or Disability, such Matched PSUs shall continue to be eligible to vest in accordance with applicable performance-based vesting conditions. All such Matched PSUs shall be subject to the terms and conditions set forth in the applicable plan and applicable award agreement attached as Exhibit D hereto.
Sample 1
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Related to Matched Performance Share Units

  • 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 Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • 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 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 Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • 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.

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Award of Performance Stock Units The Company hereby grants to you, effective as of the Grant Date, an Award of Performance Stock Units for that number of Performance Stock Units communicated to you and set forth in the Company’s records (the “PSUs”), on the terms and conditions set forth in such communication, this Agreement and the Plan. Each PSU represents the right to receive one share of Stock, subject to the terms and conditions set forth herein.

  • RESTRICTED STOCK UNITS AWARD The Compensation and Management Development Committee of the Board of Directors of Xxxxxxx-Xxxxx Squibb Company (the “Committee”) has granted to you as of the Award Date an Award of RSUs as designated herein subject to the terms, conditions, and restrictions set forth in this Agreement and the Plan. Each RSU shall represent the conditional right to receive, upon settlement of the RSU, one share of Xxxxxxx-Xxxxx Squibb Common Stock (“Common Stock”) or, at the discretion of the Company, the cash equivalent thereof (subject to any tax withholding as described in Section 4). The purpose of such Award is to motivate and retain you as an employee of the Company or a subsidiary of the Company, to encourage you to continue to give your best efforts for the Company’s future success, and to increase your proprietary interest in the Company. Except as may be required by law, you are not required to make any payment (other than payments for taxes pursuant to Section 4 hereof) or provide any consideration other than the rendering of future services to the Company or a subsidiary of the Company.

  • Restricted Stock Unit Award Subject to the terms and conditions of the Plan and this Award Agreement, the Company hereby grants to the Participant the number of Restricted Stock Units indicated in the Notice of Grant (the “RSUs”). Each RSU represents one notional Share.

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