Common use of Performance Criteria and Attainment Levels Clause in Contracts

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:

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement

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Performance Criteria and Attainment Levels. Except as set forth in Section 2(b(a) below, the attainment level under The number of Stock Units that will be earned pursuant to 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 Company’s Equity REIT Relative TSR Percentile. The number of Restricted Stock Units vested as a percentage of the Target Award shall be determined Valuation Date in accordance with the following table: Below 41st Equity REIT Relative TSR Percentile None 41st Percentage ofStock Units Earned Number ofStock UnitsEarned Below 5th percentile [____] [____] Equal to 60th 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 Percentile 50% to 99% 61st to 80th Relative TSR Percentile 100% to 200% Greater than 80th Relative TSR Percentile 200% The actual vesting percentage falling between the 25th percentile and the 50th percentile, the number of the Target Award Stock Units earned will be based on straight-line linear interpolation between the points designated 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. Notwithstanding . (b) The Committee, as promptly as practicable following the foregoingconclusion of the Performance Period (but, in any event, no later than two and one-half months after 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 conclusion of the Performance Period), shall determine the provisions actual number of the Stock Units that are earned in accordance with this Section 3(d2. 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 and the Grantee remains employed by the Company or a Company Affiliate until at least immediately prior to the date of such Change in Control or has incurred a Terminating Event prior to such Change in Control, one hundred percent (100%) 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 subject to this 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:deemed earned in accordance with this Section 2.

Appears in 1 contract

Samples: Long Term Incentive Award Agreement (Essex Portfolio Lp)

Performance Criteria and Attainment Levels. Except as set forth in Section 2(b(a) below, the 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 and will be contingent upon the Relative Company TSR Percentile(as defined below) exceeding the Index Return. The number of Restricted Stock Units vested as a percentage multiple of the Target Award shall be determined in accordance with the following table: Below 41st Relative * Payout for scenarios in which the Percentage Point Differential is negative shall occur only when Company 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 is positive over the Performance Period. For a Percentage Point Differential between the stated percentages above, the percentage of the Target Award earned will be based on straight-line linear interpolation between the points designated aboveinterpolation. Notwithstanding the foregoing, in the event the Company TSR is negativenegative but the Company still achieves a Percentage Point Differential at or above 0%, the vesting percentage only 75 percent 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 vest. (b) Upon a Change in Control (as defined in the Planbelow) that occurs prior to the end of the Performance Period, the provisions of Section 3(d) 9.1 of the Plan shall apply; provided, however, that any determination by the Committee or Board that the vesting of the Award shall accelerate Accelerate (as defined in the Plan) 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 Change in Control and the denominator of which shall be 36. . (c) As used herein, the following terms shall have the following respective meanings:

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement (Citrix Systems Inc)

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Performance Criteria and Attainment Levels. Except as set forth in Section 2(b(a) below, the 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 and will be contingent upon the Relative Company TSR Percentile(as defined below) exceeding the Index Return. The number of Restricted Stock Units vested as a percentage multiple of the Target Award shall be determined in accordance with the following table: Below 41st Relative Percentage Point Differential (defined below) Percentage of Target Award Vested * Payout for scenarios in which the Percentage Point Differential is negative shall occur only when Company 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 is positive over the Performance Period. For a Percentage Point Differential between the stated percentages above, the percentage of the Target Award earned will be based on straight-line linear interpolation between the points designated aboveinterpolation. Notwithstanding the foregoing, in the event the Company TSR is negativenegative but the Company still achieves a Percentage Point Differential at or above 0%, the vesting percentage only 75 percent 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 vest. (b) Upon a Change in Control (as defined in the Planbelow) that occurs prior to the end of the Performance Period, the provisions of Section 3(d) 9.1 of the Plan shall apply; provided, however, that any determination by the Committee or Board that the vesting of the Award shall accelerate Accelerate (as defined in the Plan) 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 Change in Control and the denominator of which shall be 36. . (c) As used herein, the following terms shall have the following respective meanings:

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement

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