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 Employee 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, 2018 through and including June 30, 2021; (2) “Target Award” shall mean the Target Award set forth in the Employee Grant Details; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the 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 Employee Grant DetailsSummary of Award, 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, 2018 2016 through and including June 30, 20212019; (2) “Target Award” shall mean the Target Award set forth in the Employee Grant DetailsSummary of Award; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Employee Grant Details 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 Employee Grant DetailsSummary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 and Section 3 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, 2018 2012 through and including June 30, 20212014; (23) “Target Award” shall mean the Target Award set forth in the Employee Grant DetailsSummary of Award; and (34) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Employee Grant Details 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 Employee Grant DetailsSummary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 and Section 3 below (this “Award”). For the purposes of this Award: (1) “Performance Period” shall mean the period from July 1, 2018 through and including June 30, 2021; (2) “Target Award” shall mean the Target Award set forth in the Employee Grant DetailsSummary of Award; and (3) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Employee Grant Details 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 Employee Grant DetailsSummary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 and Section 3 below (this “Award”). For the purposes of this Award: (1) “Performance Unit” shall equal one (1) share of II-VI Common Stock granted pursuant to this Agreement; (2) “Performance Period” shall mean the period from July 1, 2018 2014 through and including June 30, 20212017; (23) “Target Award” shall mean the Target Award set forth in the Employee Grant DetailsSummary of Award; and (34) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Employee Grant Details Summary of Award representing 200% of the Target Award.