Performance and Vesting Conditions Sample Clauses
The Performance and Vesting Conditions clause defines the specific requirements that must be met for an individual to earn or retain certain rights, such as equity awards or bonuses, under an agreement. Typically, this clause outlines measurable targets—like sales goals, project milestones, or continued employment over a set period—that must be achieved before benefits are granted or become fully owned by the recipient. Its core practical function is to align incentives and ensure that rewards are only provided when agreed-upon objectives are met, thereby motivating performance and protecting the interests of the granting party.
Performance and Vesting Conditions. The number of Units that may be earned by and for which shares of Common Stock (“Shares”) become issuable to Grantee (the “Earned Units”) shall be based upon the achievement of the performance criteria as reviewed and approved by the Committee and reflected in Exhibit B (the “Performance Goals”) over the performance periods reflected in Exhibit B (the “Performance Periods”) and the remaining terms of this Agreement (the “Vesting Conditions”). The determination by the Committee with respect to the achievement of the Performance Goals shall be made as soon as administratively practicable following the Performance Period after all necessary Company information is available. The specific date on which such determination is formally made and approved by the Committee is referred to as the “Determination Date.”
Performance and Vesting Conditions. [Describe performance and/or vesting conditions and effect thereof as specified by the Compensation Committee in accordance with the Plan.] The Restricted Stock also may become fully vested in connection with a “Change in Control” (as defined in the Plan).
Performance and Vesting Conditions. The number of Units that may be earned by and for which shares of Common Stock (“Shares”) become issuable to Grantee (the “Earned Units”) shall be based upon the achievement of the performance criteria as reviewed and approved by the Committee and reflected in Exhibit B, «Perf_Condition» (the “Performance Goals”) over the performance periods reflected in Exhibit B, «Perf_Condition» (the “Performance Periods”) and the remaining terms of this Agreement (the “Vesting Conditions”). The determination by the Committee with respect to the achievement of the Performance Goals shall be made as soon as administratively practicable following the Performance Period after all necessary Company information is available. The specific date on which such determination is formally made and approved by the Committee is referred to as the “Determination Date.”