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Performance-Based Restricted Share Grant Sample Clauses

Performance-Based Restricted Share Grant. Executive shall receive an annual Performance-Based Restricted Share Grant, which shall be subject to performance-based vesting criteria. The parties shall negotiate the Performance-Based Restricted Share Grant in good faith on an annual basis, and the parties shall set forth the mutually agreed-upon terms of the annual Performance-Based Restricted Share Grant in an APPENDIX A to this Agreement on or before March 31st of each year.
Performance-Based Restricted Share Grant. A. Performance-Based Restricted Shares: 102,289 shares of Common Stock.
Performance-Based Restricted Share Grant. (A) As soon as practicable after the Effective Date of this Third Amendment, Employee shall receive under the Stock Incentive Plan an additional grant of Restricted Shares with a value of One Million Three Hundred Fifty Thousand Dollars ($1,350,000) determined as of the Effective Date of this Third Amendment as previously approved by the HRCC. (B) One-half of these Restricted Shares (with a value of Six Hundred Seventy-Five Thousand Dollars ($675,000)) (“2007 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2007”) shall become vested based upon achievement of the performance goals set by the HRCC for Fiscal Year 2007, and the other one-half of these Restricted Shares (with a value of Six Hundred Seventy-Five Thousand Dollars ($675,000)) (“2007 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2008”) shall become vested based upon the achievement of the performance goals to be set by the HRCC for Fiscal Year 2008. (C) With respect to the 2007 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2007, as previously established by the HRCC: I. One hundred percent (100%) shall become fully vested in the event that the Company achieves the Net Income required for the target bonus as specified on the CEO 2007 Bonus Metrics Table (Net Income for the purposes of this Paragraph 6(a)(ii) of this Third Amendment shall be determined in a manner consistent with the determination of Net Income applicable to Employee’s bonus under Paragraph 5(a)(ii) of this Third Amendment.) II. Eighty-seven and one-half percent (87.5%) shall become fully vested in the event that the Company achieves ninety-five percent (95%) of the Net Income required for the target bonus as specified on the CEO 2007 Bonus Metrics Table. III. Seventy-five percent (75%) shall become fully vested in the event that the Company achieves ninety percent (90%) of the Net Income required for the target bonus as specified on the CEO 2007 Bonus Metrics Table. IV. Achievement of Net Income below the Net Income required for the threshold bonus as specified on the CEO 2007 Bonus Metrics Table shall result in forfeiture of the 2007 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2007. (D) With respect to the 2007 Grant of Restricted Shares Based Upon Company Performance for Company’s 2008 Fiscal Year, performance metrics (among Net Income; GMROI Dollars ($); Total Sales; EBITDA) and numerical values for the selected perfor...
Performance-Based Restricted Share Grant. Executive shall receive an annual Performance-Based Restricted Share Grant, which shall be subject to performance-based vesting criteria. The parties shall negotiate the Performance-Based Restricted Share Grant in good faith on an annual basis, and the parties shall set forth the mutually agreed-upon terms of the annual Performance-Based Restricted Share Grant in an APPENDIX B to this Agreement on or before March 31st of each year. The Company agrees that in negotiating the Performance-Based Share Grant each year, it shall not materially diminish the Executive’s potential earning opportunity due to the Executive’s change in roles from CEO to President below the earning opportunity contemplated by the initial Appendix B agreed to in May 2018.
Performance-Based Restricted Share Grant. (A) On or about the first business day of Fiscal 2010, assuming that Employee is employed by the Company at that time, Employee shall receive under the Stock Incentive Plan an additional grant of 200,000 Restricted Shares. (B) One half of these Restricted Shares (“2010 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2010”) shall become vested based upon achievement of the performance goals set by the HRCC for Fiscal Year 2010, and the other one-half of these Restricted Shares (“2010 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2011”) shall become vested based upon the achievement of the performance goals set by the HRCC for Fiscal Year 2011. (C) Performance metrics and numerical values for the selected performance metrics will be in line with the respective targets under the Company Plan for Fiscal Year 2010 and Fiscal Year 2011, respectively, as well as in line with the respective targets for the cash bonus under the Cash Bonus Plan for each such respective fiscal year of the Company, as determined by the HRCC in the normal course (i.e., in the first quarter of the applicable fiscal year). (D) The Restricted Shares granted pursuant to this Paragraph 4(b)(ii) of this Fourth Amendment shall be forfeited to the extent not vested based upon the performance of the Company in Fiscal Year 2010 or Fiscal Year 2011, as applicable. Notwithstanding the foregoing, in the event that (1) Employee is discharged without Cause or resigns for Good Reason prior to January 30, 2011, the 2010 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2010 shall become vested to the extent provided in the performance schedule established with respect to such Restricted Shares as if Employee had remained employed by the Company through the date that a determination of vesting of such Restricted Shares is made by the HRCC, without regard to such prior discharge without Cause or resignation for Good Reason, provided that, in either case, Employee executes a general release of claims consistent with Paragraph 13(b) of the Agreement, or (2) Employee is discharged without Cause or resigns for Good Reason on or after January 30, 2011 and prior to January 29, 2012, the 2010 Grant of Restricted Shares Based Upon Company Performance for Fiscal Year 2011 shall become vested to the extent provided in the performance schedule established with respect to such Restricted Shares as if Employee had remained employed by the C...

Related to Performance-Based Restricted Share Grant

  • 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 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 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 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.

  • Restricted Share Units Restricted Share Units means Restricted Share Units granted to Participant under the Plan subject to such terms and conditions as the Committee may determine at the time of issuance.

  • 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.

  • Grant of Restricted Share Units Subject to all of the terms and conditions of this Award Agreement and the Plan, the Company hereby grants to the Participant [ ] Class A restricted share units (the “RSUs”).

  • Payment of Restricted Stock Units (a) The Restricted Stock Units that have become non-forfeitable pursuant to Section 1 of this Schedule B will be paid in Common Shares transferred to you within 10 business days following the Vesting Date, provided, however, that, subject to Section 3(b) of this Schedule B, (i) in the event a Change of Control occurs prior to the Vesting Date or (ii) in the event your employment terminates on account of the reasons set forth in Section 1(b)(ii) of this Schedule B prior to the Vesting Date, the Restricted Stock Units will be paid within 10 business days following such Change of Control or the date of the termination of your employment, whichever applies. If PolyOne determines that it is required to withhold any federal, state, local or foreign taxes from any payment, PolyOne will withhold Common Shares with a Market Value per Share equal to the amount of these taxes from the payment. (b) If the event triggering the right to payment under Section 3(a) of this Schedule B does not constitute a permitted distribution event under Section 409A(a)(2) of the Code, then notwithstanding anything herein to the contrary, the payment of Common Shares will be made to you, to the extent necessary to comply with Section 409A of the Code, on the earliest of (i) your “separation from service” with PolyOne or a Subsidiary (determined in accordance with Section 409A) that occurs after the event giving rise to payment; (ii) the Vesting Date; or (iii) your death. In addition, if you are a “key employee” as determined pursuant to procedures adopted by PolyOne in compliance with Section 409A of the Code and any payment of Common Shares made pursuant to this Schedule B is considered to be a “deferral of compensation” (as such phrase is defined for purposes of Section 409A of the Code) that is payable upon your “separation from service” (within the meaning of Section 409A of the Code), then the payment date for such payment shall be the date that is the tenth business day of the seventh month after the date of your “separation from service” with PolyOne or a Subsidiary (determined in accordance with Section 409A of the Code).

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date The Administrator may at any time accelerate the vesting schedule specified in this Section 2.