Performance Stock Unit Awards Sample Clauses
Performance Stock Unit Awards. Each Parent PSU Award that is outstanding as of immediately prior to the Effective Time shall be treated as follows:
(i) If the holder is a Parent Group Employee or Former Employee, such award shall be converted, as of the Effective Time, into a Post-Separation Parent PSU Award and shall, except as otherwise provided in this Section 4.02(c), be subject to the same terms and conditions (including with respect to time-based vesting) after the Effective Time as were applicable to such Parent PSU Award immediately prior to the Effective Time; provided, however, that, from and after the Effective Time, the number of Parent Shares subject to such Post-Separation Parent PSU Award shall be equal to the product, rounded up to the nearest whole share, obtained by multiplying (A) the maximum number of Parent Shares subject to such corresponding Parent PSU Award immediately prior to the Effective Time, by (B) the Parent Ratio.
(ii) If the holder is a SpinCo Group Employee, such award shall be converted, as of the Effective Time, into a SpinCo PSU Award and shall, except as otherwise provided in this Section 4.02(c), be subject to the same terms and conditions (including with respect to time-based vesting) after the Effective Time as were applicable to such Parent PSU Award immediately prior to the Effective Time; provided, however, that the number of SpinCo Shares subject to such SpinCo PSU Award shall be equal to the product, rounded up to the nearest whole share, obtained by multiplying (A) the maximum number of Parent Shares subject to the corresponding Parent PSU Award immediately prior to the Effective Time, by (B) the SpinCo Ratio. With respect to the 2022-2024 SpinCo PSU Awards, the determination of the level of achievement of the performance goals for the first two (2) fiscal years of the 2022-2024 performance period shall be made by the Parent Compensation Committee after the Effective Time at the time performance determinations are customarily made by the Parent Compensation Committee with respect to Parent PSU Awards, and such determination shall be binding on the SpinCo Compensation Committee and SpinCo PSU Award holders. With respect to the third fiscal year of the 2022-2024 performance period applicable to the 2022-2024 SpinCo PSU Awards and all fiscal years of the 2023-2025 performance period applicable to the 2022-2025 SpinCo PSU Awards, the SpinCo Compensation Committee shall modify and establish the performance-based vesting conditions that will appl...
Performance Stock Unit Awards. Each Performance Stock Unit award shall be denominated in a number of Shares or in unit equivalents of Shares or units of value (including a dollar value of Shares) and may be linked to any one or more of performance or other specific criteria, including service to the Company or Subsidiaries, determined to be appropriate by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. In making such determinations, the Administrator may consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other compensation of the particular Participant.
Performance Stock Unit Awards. Executive acknowledges and agrees that except for the Vesting Eligible RSUs and PSUs, Executive holds no other outstanding equity awards of the Company.
Performance Stock Unit Awards. For any Performance Stock Unit awards made to the Participant pursuant to Section 9.1 of the Plan, this Agreement, the Plan and each applicable Award Supplement will govern. Each Performance Stock Unit award will be evidenced by a Supplement to Performance Stock Unit Award Agreement, to be attached to this Agreement from time to time (each, an “Award Supplement”). Each Award Supplement will indicate the number of Units (defined below) awarded to the Participant, the Vesting Date, the Performance Criteria, the Performance Goals, the Performance Period, and any additional restrictions that are applicable to each such Performance Stock Unit award.
Performance Stock Unit Awards. A portion of the Performance Stock Unit Award granted on March 3, 2010 covering 25,979 shares of Sunoco Common Stock (together with all associated dividend equivalents $32,473.75).
Performance Stock Unit Awards. Company agrees that so long as Consultant is providing the Services, Consultant will remain a Service Provider (as defined in the applicable Performance Stock Unit Award Agreement) and Consultant’s Performance Stock Unit awards will remain outstanding and will be eligible to vest at the end of the applicable performance periods on the achievement of applicable performance goals, as set forth in and subject to the terms of the applicable Performance Stock Unit Award Agreement.
Performance Stock Unit Awards. With respect to performance stock unit (“PSU”) award(s), Executive will receive a pro rata payment (if any) based on the actual achievement of the applicable performance goal during the applicable performance period as determined by the administrator multiplied by a fraction in which the numerator equals the number of days the Executive was a service provider during the performance period and the denominator being 365, which shall be 29.86% (109 out of 365 days), as such process and terms are defined in the applicable award agreement. Notwithstanding any of the foregoing, Executive’s PSU awards may terminate sooner in connection with a corporate transaction as provided in the applicable award agreement and/or the Company’s 2017 Omnibus Incentive Plan.
Performance Stock Unit Awards. Company agrees that because Consultant’s termination of employment is due to Retirement (as defined in the applicable Performance Stock Unit Award Agreement), Consultant’s Performance Stock Unit awards will remain outstanding and will be eligible to vest at the end of the Performance Period based on the achievement of applicable performance goals, but will be prorated to reflect the number of days Consultant was employed during the applicable performance period through the Transition Date, as set forth in and subject to the terms of the applicable Performance Stock Unit Award Agreement.
Performance Stock Unit Awards. Executive acknowledges and agrees that he holds (1) 14,237 Performance Units (as defined in the Plans), all of which are unvested as of the Effective Date, pursuant to that certain Performance Stock Unit Award Agreement by and between Company and Executive, dated May 24, 2018 (the “2018 PSU Agreement”), (2) 8,671 Performance Units, all of which are unvested as of the Effective Date, pursuant to that certain Performance Stock Unit Award Agreement by and between Company and Executive, dated March 1, 2019 (the “2019 PSU Agreement”), and (3) 7,344 Performance Units, all of which are unvested as of the Effective Date, pursuant to that certain Performance Stock Unit Award by and between Company and Executed, dated March 1, 2020 (the “2020 PSU Agreement”). As of the Termination Date, the Performance Units outstanding under the 2018 PSU Agreement shall have vested in full in accordance with their terms and at the specified percentage performance level as determined by the Compensation Committee of the Board. As of the Termination Date, the Performance Units outstanding under both the 2019 PSU Agreement and the 2020 PSU shall be forfeited in their entirety for no consideration, and Executive shall have no further right, title, or interest in or to such Performance Units under the 2019 PSU Agreement or the 2020 PSU Agreement, the Plans, or otherwise.
Performance Stock Unit Awards