Common use of Performance-Based Vesting Criteria Clause in Contracts

Performance-Based Vesting Criteria. The performance-based vesting criteria shall be set forth in an Award Letter for each PRSU. For PRSUs, as soon as practicable following the end of each applicable Performance Period, the Committee shall make a determination of the level of attainment of the Performance Objective. The Committee may, in its sole discretion, adjust any Performance Objective as described in Section 9(f) of the Plan, and such adjustments, if made, shall be applied to determine not only the minimum acceptable level of achievement of the Performance Objective, but all levels of achievement for any Performance Objective specified in any Award Letter (from the minimum to the maximum level of achievement).

Appears in 2 contracts

Samples: Restricted Stock Unit and Performance Unit Master Award Agreement (Level 3 Communications Inc), Restricted Stock Unit and Performance Unit Master Award Agreement (Level 3 Communications Inc)

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Performance-Based Vesting Criteria. The performance-based vesting criteria (if any) shall be set forth in an the Award Letter for each PRSUthe award of PRSUs. For PRSUs, as soon as practicable following the end of each applicable the Performance Period, the Committee shall make a determination of the level of attainment of the Performance Objective. The Committee may, in its sole discretion, adjust any Performance Objective as described in Section 9(f) 8.5.3 of the Plan, and such adjustments, if made, shall be applied to determine not only the minimum acceptable level of achievement of the Performance Objective, but all levels of achievement for any Performance Objective specified in any the Award Letter (from the minimum to the maximum level of achievement).

Appears in 1 contract

Samples: Restricted Stock Unit and Performance Restricted Stock Unit Award Agreement (Level 3 Communications Inc)

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Performance-Based Vesting Criteria. The performance-based vesting criteria (if any) shall be set forth in an Award Letter for each PRSU. For PRSUs, as soon as practicable following the end of each applicable Performance Period, the Committee shall make a determination of the level of attainment of the Performance Objective. The Committee may, in its sole discretion, adjust any Performance Objective as described in Section 9(f) 8.5.3 of the Plan, and such adjustments, if made, shall be applied to determine not only the minimum acceptable level of achievement of the Performance Objective, but all levels of achievement for any Performance Objective specified in any Award Letter (from the minimum to the maximum level of achievement).

Appears in 1 contract

Samples: Restricted Stock Unit and Performance Restricted Stock Unit Master Award Agreement (Level 3 Communications Inc)

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