Performance Shares Award Sample Clauses
A Performance Shares Award clause defines the terms under which an employee or executive is granted company shares based on the achievement of specific performance goals. Typically, this clause outlines the performance metrics that must be met, the measurement period, and the number of shares that may be earned if targets are achieved. For example, an executive might receive a set number of shares if the company meets certain revenue or profit benchmarks over a three-year period. The core function of this clause is to incentivize high performance by aligning the interests of key personnel with the long-term success of the company.
Performance Shares Award. You have been awarded an initial grant (the “Initial Grant”) of Performance Shares. This grant represents a right to receive shares of common stock of the Company, calculated as described below, provided the applicable performance measures and vesting requirements set forth in this agreement have been satisfied. No shares are awarded or issued to you on the Initial Grant Date.
Performance Shares Award. You have been awarded an initial number of Performance Shares (the “Initial Performance Shares”) shown on the attached Notice of Grant, which notice is incorporated herein by reference. This grant represents a right to receive shares of B&W common stock, calculated as described below, provided the applicable performance measures and vesting requirements set forth in this Agreement have been satisfied. No shares are awarded or issued to you on the Date of ▇▇▇▇▇.
Performance Shares Award. This instrument and that certain Notice of Performance Shares Award and Agreement, dated , 2004, a copy of which is attached hereto and incorporated herein by reference (the “Notice of Performance Shares Award and Agreement”), constitute evidence of the issuance and grant of a Performance Shares Award (hereinafter referred to as “Award”) of Performance Share Units to the Grantee by the Corporation that shall entitle the Grantee to receive shares of the Corporation’s Common Stock (hereinafter also referred to as “Common Stock”), all pursuant and subject to the terms, provisions, and conditions of this instrument (including, without limitation, the conditions, restrictions and limitations stated in paragraph 5, below) and the terms and provisions of the Plan, which are incorporated herein by reference. This instrument, when executed by the Grantee, together with the Notice of Performance Shares Award and Agreement constitute one agreement between the Corporation and the Grantee. Notwithstanding the foregoing, should there be any inconsistency between the provisions of this instrument and the terms and provisions of the Award stated in the resolutions and records of the Board of Directors of the Corporation providing for the Award or provisions of the Plan, the provisions of such resolutions and records and of the Plan shall control. The grant of such Performance Share Units to the Grantee shall be effective in the manner and to the extent provided in this instrument and the Plan as to all or any part of the shares of stock subject to the grant from time to time during the period stated herein.
Performance Shares Award. The Grantee is hereby issued and granted, and the Grantee accepts, a Performance Shares Award of «PerformanceStock» Performance Share Units that shall entitle the Grantee to receive shares of the Corporation’s Common Stock (hereinafter also referred to as “Performance Shares”), all pursuant and subject to the terms, provisions, and conditions of this Agreement (including, without limitation, the conditions, restrictions and limitations stated in paragraph 5, below) and of the Plan, which are incorporated herein by reference. Should there be any inconsistency between the provisions of this Agreement and the Plan, the provisions of the Plan shall control. The grant of such Performance Share Units to the Grantee shall be effective in the manner and to the extent provided in this Agreement and the Plan as to all or any part of the shares of stock subject to the grant from time to time during the period stated herein.
Performance Shares Award