Performance-Based Cash Awards Sample Clauses

Performance-Based Cash Awards. Pursuant to the Program and the award agreement issued under the Equity Plans, Participant shall remain eligible to receive a prorated cash payment for any performance-based cash awards awarded to Participant prior to the Date of Notice (the “Prorated CA Payment”) and subject in all respects to the terms and conditions of any equity award agreement and the Equity Plans (except any continued employment requirement). The Prorated CA Payment, if earned, will be paid to Participant at the same time as all other participants in the Equity Plans.
Sample 1
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Performance-Based Cash Awards. Executive shall remain eligible to receive a prorated cash payment for any performance-based cash award awarded to Executive, other than any one-time, special and/or retention-based award, provided that at least six (6) months of the applicable performance period have elapsed prior to the Retirement Date (the “Prorated CA Payment”) and subject in all respects to the terms and conditions of any equity award agreement and the Equity Plan (except any continued employment requirement). The Prorated CA Payment, if earned, will be paid to Executive at the same time as all other participants in the Equity Plan.
Sample 1
Performance-Based Cash Awards. All 2016, 2017 and 2018 awards would vest (at the percentage payout below) and be paid without proration not later than three months following completion of the sale. 2016 Award = not less than 53% of “target” (2016 ROAC 14.66%; 2017 ROAC (0.62%); 2018 ROAC the greater of 100% of “target” or “actual” ROAC= pay-out not less than 53% of “target”) 2017 Award = not less than 62% of “target” (ROAC for 2017 (0.5%); resulting in pay-out at 0% of target; 2018 ROAC the greater of 100% of “target” or “actual” ROAC; 2019 ROAC 100% of “target” = pay-out not less than 62% of “target”) 2018 Award = not less than 100% of “target” (2018 pay-out the greater of 100% of “target” or “actual” performance; 2019 and 2020 at 100% of “target“ = pay-out not less than of 100% of “target”) • Hanover Time-based Restricted Stock Unit s (for those who received stock awards in lieu of time-based cash): Pursuant to the terms of each of your outstanding Hanover equity awards, upon completion of the sale, these awards would be forfeited without any payment. However, we have agreed that under these circumstances, you will instead receive a cash payment equal to the number of your then outstanding and unvested restricted stock units multiplied by the average closing price of THG' s common stock during the 30 days prior to the completion of the sale (converted to GBP at the prevailing rate over the same period). Such cash award would be paid not later than three months following the completion of sale, subject to the same Rules described herein. If the completion of the sale of Xxxxxxx has not occurred prior to 1 April 2019, none of the foregoing provisions will apply. Other Changes to the 2017 Scheme As you recall, in 2017 we wrote to you outlining plans to revisit the calculation of allocated capital. As a result of the changed methodology in Xxxxxxx'x ROAC and current market conditions, the hurdle/target/cap was adjusted for the 2018 Scheme. In order to provide consistent and fair treatment of performance measurement in the 2017 Scheme, performance will be calculated based on the new formula established under the 2018 Scheme. This change will be implemented whether or not Xxxxxxx is sold prior to 1 April 2019.
Sample 1
Performance-Based Cash Awards. At or immediately prior to the Effective Time, each outstanding performance-based cash award of the Company under any Employee Plan (each, a “Company Cash Award”), whether or not vested, shall vest and pay out at its “target” level, prorated for the number of days that have elapsed since the beginning of the year in which the Effective Time occurs (up to and including the date on which the Effective Time occurs).
Sample 1

Related to Performance-Based Cash Awards

  • Performance Based Bonus As additional compensation, the Executive shall be entitled to receive a performance based bonus, based on meeting revenue and cash flow objectives. The Executive shall be granted options ("Performance Options") to purchase an aggregate of 220,000 shares of Common Stock, subject to anti-dilution provisions relating to adjustments in the event that the Company, among other things, declares stock dividends, effects forward or reverse stock splits, at an exercise price of the fair market value of the date of the grant, and shall be exercisable for a period of four (4) years from the date of vesting unless sooner terminated, as described herein. The date of grant shall be the Effective Date of this Agreement. Up to one-half of these shares will be eligible for vesting on a quarterly basis and the rest annually, with the total grant allocated over a two-year period, starting with the quarter ended December 31, 2007. Vesting of the quarterly portion is subject to achievement of increased revenues over the prior quarter as well as positive and increased net cash flow per share (defined as cash provided by operating activities per the Company’s statement of cash flow, measured before changes in working capital components and not including investing or financing activities) for that quarter. Vesting of the annual portion is subject to meeting the above cash flow requirements on a year-over-year basis, plus a revenue growth rate of at least 30% for the fiscal year over the prior year, starting with the fiscal year ended September 30, 2008. In the event of quarter to quarter decreases in revenues and or cash flow, the Performance Options shall not vest for that quarter but the unvested quarterly Performance Options shall be added to the available Performance Options for the year, vested subject to achievement of the applicable annual goal. In the event this Agreement is not renewed or the Executive is terminated other than for Cause, the Executive shall be entitled to register the stock underlying the vested portion of the Performance Options provided hereunder on the terms and conditions set forth in a registration rights agreement to be mutually agreed upon by and between Executive and the Company. The Company shall file such Registration Statement as promptly as practicable and at its sole expense. The Company will use its reasonable best efforts through its officers, directors, auditors and counsel in all matters necessary or advisable to file and cause to become effective such Registration Statement as promptly as practicable. Company and Executive agree that this bonus program will continue after the initial two-year period, through the end of the Term, with the specific bonus parameters to be negotiated in good faith between the parties at least ninety (90) days before the expiration of the program then in place.

  • Performance-Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • 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.

  • Equity-Based Awards For each calendar year during the Term, the Executive shall be eligible to participate in and receive equity-based awards under the Company’s 2014 Stock Incentive Plan, and any and all successor or replacement plans as may be determined by the Board or the Committee (collectively, “Incentive Plan”).

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

  • Other Stock-Based Awards The Committee may grant types of equity-based or equity-related Awards not otherwise described by the terms of the Plan (including the grant or offer for sale of unrestricted Shares), in such amounts (subject to Article IV) and subject to such terms and conditions, as the Committee shall determine. Such Other Stock-Based Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares and may include Awards designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States.

  • Performance Measure The number of Performance Shares earned at the end of the three-year Performance Period will vary depending on the degree to which cumulative adjusted earnings per share performance goals for the Performance Period, as established by the Committee, are met.

  • Equity-Based Compensation The Executive shall retain all rights to any equity-based compensation awards to the extent set forth in the applicable plan and/or award agreement.

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