Performance Criteria and Attainment Levels. (a) The number of Stock Units that will be earned pursuant to this Award will be based on the Company’s Equity REIT Relative TSR as of the Valuation Date in accordance with the following table: Equity REIT Relative TSR Percentage ofStock Units Earned Number ofStock UnitsEarned Below 5th percentile [____] [____] Equal to or above 5th percentile but below 25th percentile [____] [____] Equal to or above 25th percentile but below 50th percentile [____] [____] Equal to or above 50th percentile [____] [____] For Equity REIT Relative TSR falling between the 25th percentile and the 50th percentile, the number of Stock Units earned will be based on linear interpolation between the number of Stock Units that would have been earned if Equity REIT Relative TSR was at the 25th percentile and the number that would have been earned if Equity REIT Relative TSR was at the 50th percentile, as set forth above.
(b) The Committee, as promptly as practicable following the conclusion of the Performance Period (but, in any event, no later than two and one-half months after the conclusion of the Performance Period), shall determine the actual number of the Stock Units that are earned in accordance with this Section 2. Notwithstanding anything herein to the contrary, if a Change in Control occurs on or prior to the twelve (12) month-anniversary of the Grant Date, one hundred percent (100%) of the Stock Units subject to this Award shall be deemed earned in accordance with this Section 2.
Performance Criteria and Attainment Levels. (a) Except as otherwise set forth in this Award Agreement, the attainment level under this Restricted Stock Unit Award will be determined during the first 60 days of the calendar year immediately following the end of the Performance Period based on the Performance Metrics indicated in the attached Schedule.
(b) Subject to the terms of any employment, executive or similar agreement between the Company and Awardee, upon an Acquisition that occurs prior to the end of the Performance Period, the provisions of Section 3(d) of the Plan shall apply; provided, however, that any determination by the Committee or Board in its discretion that the Award shall be deemed earned as of the Acquisition or Change in Control based on the actual achievement of the performance metric as of the Acquisition or Change in Control, and/or the vesting of the Award shall accelerate, shall provide that the actual achievement of the Award as of the Acquisition or Change in Control shall be the maximum level of achievement such that Awardee shall earn, and/or shall immediately vest in the CIC Percentage (as defined below) of the Target Award as of the Acquisition or Change in Control.
(c) As used in this Award Agreement, the following terms shall have the following respective meanings:
Performance Criteria and Attainment Levels. Except as set forth in Section 2(b) below, the attainment level under this Restricted Stock Unit Award will be determined during the first 60 days of the calendar year immediately following the end of the Performance Period based on the Relative TSR Percentile. The number of Restricted Stock Units vested as a percentage of the Target Award shall be determined in accordance with the following table: Below 41st Relative TSR Percentile None 41st to 60th Relative TSR Percentile 50% to 99% 61st to 80th Relative TSR Percentile 100% to 200% Greater than 80th Relative TSR Percentile 200% The actual vesting percentage of the Target Award earned will be based on straight-line linear interpolation between the points designated above. Notwithstanding the foregoing, in the event the Company TSR is negative, the vesting percentage of the Target Award shall be no more than 100 percent regardless of the Relative TSR Percentile. Subject to the terms of any employment, executive or similar agreement between the Company and the Awardee, upon an Acquisition (as defined in the Plan) that occurs prior to the end of the Performance Period, the provisions of Section 3(d) of the Plan shall apply; provided, however, that any determination by the Committee or Board that the vesting of the Award shall accelerate shall provide that Awardee shall earn, and shall immediately vest in, his or her Target Award, provided further, however, that for purposes of this Section 2(b) only, the number of Restricted Stock Units composing the Target Award shall be multiplied by a fraction, the numerator of which shall be the number of full and partial months from the Award Date to the effective date of the Acquisition and the denominator of which shall be 36. As used herein, the following terms shall have the following respective meanings:
Performance Criteria and Attainment Levels. (a) The number of Stock Units that will become Eligible Stock Units pursuant to this Award will be based on the gain or purchase price from the disposition of certain assets of the Company’s real estate portfolio, determined by reference to the following formula and subject to the final sentence of this Section 2(a): Number of Eligible Stock Units = (___%2 * Funded Amount) / $[_______] The Number of Eligible Stock Units shall be rounded to the nearest whole Stock Unit.
Performance Criteria and Attainment Levels. (a) Except as set forth in Section 2(b) below, the attainment level under this Restricted Stock Unit Award will be determined during the first 60 days of the calendar year immediately following the end of the Performance Period based on the performance metrics indicated in the attached Schedule.
(b) Subject to the terms of any employment, executive or similar agreement between the Company and the Awardee, upon an Acquisition (as defined in the Plan) that occurs prior to the end of the Performance Period, the provisions of Section 3(d) of the Plan shall apply; provided, however, that any determination by the Committee or Board that the vesting of the Award shall accelerate shall provide that Awardee shall earn, and shall immediately vest in, his or her Target Award, provided further, however, that for purposes of this Section 2(b) only, the number of Restricted Stock Units composing the Target Award shall be multiplied by a fraction, the numerator of which shall be the number of full and partial months from the Award Date to the effective date of the Acquisition and the denominator of which shall be the number of months in the performance period.
(c) As used herein, the following terms shall have the following respective meanings:
Performance Criteria and Attainment Levels. (a) Except as set forth in Section 2(b) below, the attainment level under this Restricted Stock Unit Award will be determined during the first 60 days of the calendar year immediately following the end of the Performance Period based on the performance metrics indicated in the attached Schedule.
(b) In the event of a Change in Control, as defined in the Employment Agreement, that occurs prior to the end of the Performance Period, the provisions of Section 3(d) of the Plan shall apply; provided, however, that Awardee will be deemed to have satisfied the Performance Metrics and Awardee shall earn the number of Restricted Stock Units based on the attainment level that would otherwise have been determined from the first day of the Performance Period through the date of the Change in Control pursuant to Section 2(a) above, in each case except as provided in Section 4(d), subject to time-based cliff vesting conditioned on the Awardee’s continued employment through the last day of the Performance Period, at which time such deemed earned Restricted Stock Units shall vest and be settled in accordance with Section 3.
(c) As used herein, the following terms shall have the following respective meanings:
Performance Criteria and Attainment Levels. (a) Except as set forth in Sections 1(b), 2(b), 4(b) and 4(d) below, the attainment level under this Restricted Stock Unit Award will be determined during the first 60 days following the end of the Performance Period and will be based on the Annualized TSR Percentage and Relative TSR Percentile targets set forth below. The number of Restricted Stock Units vested as a percentage of the Target Award shall be determined in accordance with the following table: Relative TSR Percentile Less than 60th Percentile 0% 0% 50% 100% 150% 200% 60th to 74.9th Percentile 25% 50% 75% 100% 150% 200% 75th to 84.9th Percentile 50% 75% 100% 100% 150% 200% 85th Percentile or higher 75% 100% 100% 100% 150% 200% In the event that the Annualized TSR Percentage is greater than 5% and falls between two levels in the above table, linear interpolation shall be used between columns to determine the number of Restricted Stock Units that vest.
(b) In the event that a Change in Control (as defined in the Employment Agreement) occurs prior to the end of the Performance Period, Awardee will be deemed to have satisfied the performance criteria and Awardee shall earn the greater of (i) the Target Award, and (ii) the attainment level that would otherwise have been determined based on the Annualized TSR Percentage and Relative TSR Percentile from the first day of the Performance Period through the date of the Change in Control pursuant to Section 2(a) above, in each case except as provided in Section 4(d), subject to continued time-based vesting conditioned on Awardee’s continued employment through the end of the Performance Period, at which time such deemed earned Restricted Stock Units shall be settled in accordance with Section 3.
(c) As used herein, the following terms shall have the following respective meanings:
Performance Criteria and Attainment Levels. The attainment level under this Restricted Stock Unit award will be determined during the first quarter of _____ and will be contingent upon the Company successfully achieving the ________________ performance goal as established by the Compensation Committee. There is a minimum threshold set at ____ of attainment. No Restricted Stock Units will be issuable under this award below the ____ attainment level. For performance at and above ____, the number of Restricted Stock Units issued will be based on a graduated slope capped at _____ attainment as per Schedule 2.
Performance Criteria and Attainment Levels. The number of Award LTIP Units that will be earned pursuant to this Award will be based on the Company’s Absolute TSR and Multifamily REIT Relative TSR during the Performance Period, as set forth below.
(a) With respect to one-half of the Award LTIP Units, the number of Award LTIP Units that are earned will be based on the Company’s Absolute TSR during the Performance Period in accordance with the following table: For Absolute TSR between 2% and 4%, the number of Award LTIP Units earned will be based on linear interpolation between the number of Award LTIP Units that would have been earned if Absolute TSR was 2% and the number that would have been earned if Absolute TSR was 4%, as set forth above.
(b) With respect to the remaining one-half of the Award LTIP Units, the number of such Award LTIP Units that are earned will be based on the Company’s Multifamily REIT Relative TSR during the Performance Period in accordance with the following table: For Multifamily REIT Relative TSR between -100 and +100 basis points, the percentage earned will be based on linear interpolation between the number of Award LTIP Units that would have been earned if Multifamily REIT Relative TSR was -100 basis points and the number that would have been earned if Multifamily REIT Relative TSR was +100 basis points, as set forth above.
(c) The Committee, as promptly as practicable following the conclusion of the Performance Period, shall determine the actual number of the Award LTIP Units that are earned in accordance with this Section 2. On the Determination Date, all Award LTIP Units that are not earned shall automatically and immediately be forfeited by the Grantee.
Performance Criteria and Attainment Levels. The number of Award LTIP Units that will be earned pursuant to this Award will be based on the Company’s Absolute TSR and Multifamily REIT Relative TSR during the Performance Period, as set forth below.
