Performance Share Unit Account Sample Clauses

Performance Share Unit Account. The Company shall cause an account (the “Performance Share Unit Account”) to be established and maintained on the books of the Company to record the number of PSUs credited to the Participant under the terms of this Agreement. The Participant’s interest in the Performance Share Unit Account shall be that of a general, unsecured creditor of the Company.
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Performance Share Unit Account. The Company will maintain a bookkeeping account (the “PSU Account”) in the name of the Participant to reflect the PSUs covered by this Agreement. The Participant’s PSU Account will be credited with the number of PSUs initially covered by the Award and will be credited with additional PSUs to reflect dividends, if any, declared and paid on the Company’s Shares, as described in Section 5 below. At the end of the “Performance Period” (described below), the number of PSUs then credited to the Participant’s PSU Account will be adjusted (up or down) to reflect the extent to which the performance objectives described in Exhibit A attached hereto have been achieved. The Participant’s PSU Account will be subject to the vesting and forfeiture conditions set forth in Section 3 below. If and when the Participant’s PSU Account becomes vested, the Participant will receive a distribution of the PSU Account in accordance with Section 5 below, which distribution will consist of a number of Shares equal to the number of the PSUs, if any, then credited to the Participant’s PSU Account (or, at the election of the Committee, cash equal to the value of such number of Shares) in full and final settlement of the PSUs covered by this Award. For the purposes hereof, the term “Performance Period” means the period beginning on March 8, 2008 and ending in 2011 on the 20th New York Stock Exchange trading day following the date the Company releases to the public its annual earnings for the year ending December 31, 2010 or, if earlier, immediately preceding a “Change in Control” (as defined in the Plan).
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Related to Performance Share Unit Account

  • 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 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 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 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.

  • 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.

  • 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.

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

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • 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.

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