Common use of Performance Unit Award Clause in Contracts

Performance Unit Award. II-VI hereby grants to the Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 (this “Award”). For the purposes of this Award: (1) “Performance Period” shall mean the period from July 1, 2016 through and including June 30, 2019; (2) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.

Performance Unit Award. II-VI hereby grants to the Recipient an Award of Performance Units under the Plan, as specified in the Summary of AwardEmployee Grant Details, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 and Section 3 (this “Award”). For the purposes of this Award: (1) “Performance Period” shall mean the period from July 1, 2016 2018 through and including June 30, 20192021; (2) “Target Award” shall mean the Target Award set forth in the Summary of AwardEmployee Grant Details; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award Employee Grant Details representing 200% of the Target Award.

Performance Unit Award. II-VI hereby grants to the Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 below (this “Award”). For the purposes of this Award: (1) “Performance Unit” shall mean a bookkeeping entry that records a unit equal to $1.00 granted pursuant to this Agreement and that is payable solely in cash; (2) “Performance Period” shall mean the period from July 1, 2016 2012 through and including June 30, 20192014; (23) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (34) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.

Performance Unit Award. II-VI hereby grants to the Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 below (this “Award”). For the purposes of this Award: (1) “Performance Period” shall mean the period from July 1, 2016 through and including June 30, 2019; (2) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.