Common use of Performance Award Clause in Contracts

Performance Award. Any unpaid Target Award previously granted to an Executive under the Elco Industries, Inc. 1988 Performance Share Plan (the "Share Plan") shall be paid to the Executive within five (5) days of the Termination Date as if such Target Award was 100 earned during the relevant Performance Period (as such term is defined in the Share Plan), irrespective of Elco's actual performance during the relevant Performance Period.

Appears in 6 contracts

Samples: Change of Control Agreement (Elco Industries Inc), Change of Control Agreement (Elco Industries Inc), Change of Control Agreement (Elco Industries Inc)

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