Common use of Performance Conditions Clause in Contracts

Performance Conditions. The performance conditions are set forth on Exhibit A. Upon certification by the Committee of the completion of the performance conditions, the dollar equivalent of the percentage of salary will be determined. The Participant will receive a number of Units determined by dividing the dollar equivalent by the Fair Market Value of a share of Company Stock on the date that the completion of the performance conditions is certified by the Committee or its designee (the “Determination Date”). No Units will be awarded hereunder if the Participant separates from service for any reason before the Determination Date.

Appears in 6 contracts

Samples: Award Agreement (Markel Corp), Markel Corp, Markel Corp

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Performance Conditions. The performance conditions are set forth on Exhibit A. Upon certification by the Committee of the completion of the performance conditions, the dollar equivalent of the percentage of salary will be determined. The Participant will receive a number of Units determined by dividing the dollar equivalent by the Fair Market Value of a share of Company Stock on the date that the completion of the performance conditions is certified by the Committee or its designee (the "Determination Date"). No Units will be awarded hereunder if the Participant separates from service for any reason before the Determination Date.

Appears in 1 contract

Samples: Markel Corp

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Performance Conditions. The performance conditions are set forth on Exhibit A. Upon certification by the Committee of the completion of the performance conditionscondition, the dollar equivalent of the percentage of salary will be determined. The Participant will receive a number of Units determined by dividing the dollar equivalent by the Fair Market Value of a share of Company Stock common stock. The Fair Market Value will be determined by using the closing price of Company common stock on the date that the completion of the performance conditions condition is certified by the Committee or its designee (the “Determination Date”). No Units will be awarded hereunder if the Participant separates from service for any reason before the Determination Date.

Appears in 1 contract

Samples: Award Agreement (Markel Corp)

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