Performance Share Award – Terms and Conditions Sample Clauses

Performance Share Award – Terms and Conditions. Under and subject to the provisions of the Xxxxxx Corporation 2005 Equity Incentive Plan (as amended from time to time, the “Plan”) and upon the terms and conditions set forth herein (these “Terms and Conditions”), Xxxxxx Corporation (the “Corporation”) has granted to the employee receiving these Terms and Conditions (the “Employee”) a Performance Share Award (the “Award”) of such number of shares of common stock, $1.00 par value per share (the “Common Stock”), of the Corporation as set forth in the Award Letter (as defined below) from the Corporation to the Employee (such shares, as may be adjusted in accordance with Sections 1(c), 1(d) and 1(e) of these Terms and Conditions, the “Performance Shares”). Such Award is subject to the following Terms and Conditions (these Terms and Conditions, together with the Corporation’s letter to the Employee specifying the number of shares subject to the Award and the Performance Period and certain other terms (the “Award Letter”) and the Statement of Performance Goals (as defined below) related thereto, are referred to as the “Agreement”).
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Performance Share Award – Terms and Conditions. Under and subject to the provisions of the Xxxxxx Corporation 2000 Stock Incentive Plan (as amended from time to time the “Plan”), Xxxxxx Corporation (the “Corporation”) has granted to the Employee a Performance Share Award (the “Award”) of such number of shares of Common Stock, $1.00 par value, of the Corporation as set forth and designated in writing by the Corporation to the Employee (the “Stock”). Such Award is subject to the following Terms and Conditions (which together with the Corporation’s letter specifying the number of shares subject of the Award, the Performance Period and the Exhibit related thereto is referred to as the “Agreement”): (a) For purposes of the Agreement, the “Performance Period” shall be the Performance Period set forth and designated as such in writing by the Corporation to the Employee. (b) Within two and one-half months of the expiration of the Performance Period and upon the satisfaction of the applicable withholding obligations, the Corporation shall at its option, cause such shares as to which the Employee is entitled pursuant to Section 1(c) hereof either (i) to be issued without restriction by delivery of a stock certificate in the name of the Employee or his or her designee, and the certificate shall be released to the custody of the Employee, or (ii) to be credited without restriction to a book-entry account for the benefit of the Employee or his or her designee maintained by the Corporation’s stock transfer agent or its designee. (i) The payout of the Award shall be contingent upon the attainment during the Performance Period of the performance objectives set forth in the goals exhibit delivered to the Employee at the time of the making of the Award (the “Exhibit”). The payout of the Award shall be determined upon the expiration of the Performance Period in accordance with the Exhibit. The final payout determination of the Award will be authorized by the Xxxxxx Board of Directors, the Board Committee, or its designee. (ii) If employment is commenced after July 15th of the first fiscal year of the Performance Period (such commencement date is referred to as the “Start Date”), the final payout to be made to the Employee determined in accordance with the prior provisions of this Section 1(c) shall be reduced by 1/36th for each month between July 1 of the first fiscal year of the Performance Period and the Start Date. Only a Start Date prior to the 15th of a month shall be deemed employment for a full month. Other than wi...
Sample 1
Performance Share Award – Terms and Conditions. Under and subject to the provisions of the Hxxxxx Corporation 2005 Equity Incentive Plan (as amended from time to time the "Plan”), Hxxxxx Corporation (the “Corporation”) has granted to the employee receiving these Terms and Conditions (the “Employee”) a Performance Share Award (the “Award”) of such number of shares of common stock, $1.00 par value, of the Corporation as set forth and designated in writing by the Corporation to the Employee (the “Stock”). Such Award is subject to the following Terms and Conditions (which together with the Corporation’s letter to the Employee specifying the number of shares subject to the Award and the Performance Period (the “Award Letter”) and the Statement of Performance Goals (as defined below) related thereto is referred to as the “Agreement”).
Sample 1

Related to Performance Share Award – Terms and Conditions

  • 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 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 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 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.

  • 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.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • Restricted Stock Unit Award The Grantee is hereby granted NUMBER OF SHARES restricted stock units (the "Restricted Stock Units"). Each Restricted Stock Unit represents the right to receive one share of the Company's Common Stock, $.001 par value (the "Stock"), subject to the terms and conditions of this Agreement and the Plan.

  • Award Agreement Each Option shall be evidenced by an Award Agreement that shall specify the Exercise Price, the expiration date of the Option, the number of Shares to which the Option pertains, any conditions to exercise of the Option, and such other terms and conditions as the Committee, in its discretion, shall determine. The Award Agreement shall specify whether the Option is intended to be an Incentive Stock Option or a Non-qualified Stock Option.

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