Performance Vesting Requirement Sample Clauses

Performance Vesting Requirement. The “Performance Vesting Requirement” means the achievement of the “Performance Goals,” which are performance criteria established by the Committee pursuant to Section 8 of the Plan and set forth in Appendix A attached hereto.

Performance Vesting Requirement. The “Performance Vesting Requirement” means the performance-based vesting Restrictions for the Performance Units. The Performance Vesting Requirement shall be satisfied by the achievement of the “Performance Goal,” which is performance criteria established by the Committee pursuant to Article XI of the Plan and set forth in Appendix A attached hereto. Within 75 days after the end of the 20[__] calendar year, the Committee will review and analyze Approach’s performance for the 20[__] calendar year and determine whether the Performance Vesting Requirement has been satisfied. If the Committee determines that the Performance Vesting Requirement has been satisfied, the Committee will certify the achievement of the Performance Goal for the 20[__] calendar year and then the Time Vesting Requirement in Section 2(a)(ii) below will be the remaining Restriction applicable to the Performance Units; for the avoidance of doubt, except as provided in Section 2(c), no Performance Units shall become vested and no payments with respect to Performance Units shall be made prior to satisfaction of the Time Vesting Requirement applicable to such Performance Units. If the Committee determines that the Performance Vesting Requirement has not been satisfied, (i) the Participant shall have no rights whatsoever in and to any cash settlement in respect of any of the Performance Units, (ii) all of the Performance Units shall automatically revert to Approach at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives shall have any rights with respect thereto. The Committee’s certification of the achievement of the Performance Goal will be effective as of [__], 20[__], regardless of any delay in the Committee’s determination of whether the Performance Goal was satisfied for the 20[__] calendar year. The Committee shall have the sole discretion for determining whether the Performance Vesting Requirement has been satisfied and any such determination shall be conclusive.

Performance Vesting Requirement. (A) The MSUs shall, so long as the Employee remains employed with the Company or its Subsidiaries through the Vesting Date (or the provisions of Section 2(a)(i)(B) or (C) otherwise apply), vest on the Vesting Date as to a number of shares of Common Stock equal to: the product of (x) the Target MSU Award and (y) the Stock Price Multiplier, provided that, no MSUs shall be earned if the Ending Stock Price is less than fifty percent (50%) of the Beginning Stock Price. (B) Whether and to what extent the MSUs shall vest shall be determined by the Committee at its first meeting following the end of the Award Period (which shall occur in no event later than 75 days after the end of the calendar year in which the Award Period ends (i.e., by no later than March 15, 2014)), upon the Committee’s certification of achievement of the applicable performance goals set forth in Section 2(a)(ii)(A) above.

Performance Vesting Requirement. (A) The RSUs shall, so long as the Employee remains employed with the Company or its Subsidiaries through the Vesting Date (or the provisions of Section 2(a)(i) otherwise apply), vest on the Vesting Date in an amount equal to the product of (1) the Target RSU Award and (2) the applicable Total Shareholder Return Multiplier, as determined under Schedule I attached hereto and incorporated by reference herein. (B) Whether and to what extent the RSUs shall vest shall be determined by the Committee at its first meeting following the end of the Performance Period (which shall occur in no event later than 75 days after the end of the calendar year in which the Performance Period ends (i.e., by no later than March 15, 2016)), upon the Committee’s certification of achievement of the applicable performance goals set forth in Section 2(a)(ii)(A) above.

Performance Vesting Requirement. The performance period for this Award shall commence on the first day of fiscal year 2009 and shall end on the last day of fiscal year 2011. The Award shall be subject to performance vesting requirements based upon the achievement of the Performance Goals as set forth in Appendix A to this Agreement.

Performance Vesting Requirement. (a) The “Performance Period” for this Award shall be the 36-month period commencing on January 1, 2009 and ending on December 31, 2011. The Award shall be subject to performance vesting requirements based upon the achievement of the Incentive Formula established under the Plan, reduced so that the Award that is paid to the Employee hereunder does not exceed the amount computed under the performance goal specified below, subject to certification of the degree of achievement of such performance goal by the Committee. (b) The measurement tool for determining level of achievement shall be Average Return on Invested Capital for the 36-month period beginning January 1, 2009 and ending December 31, 2011. Calculation of this measurement tool will be performed by the Committee, subject to all authority granted under the terms of the Plan. (c) Notwithstanding any other term of this Agreement to the contrary, in order to be eligible to vest in any portion of the Award, Employee must also have entered into an agreement containing restrictive covenants concerning limitations on Employee’s behavior following termination of employment that is satisfactory to the Company and its affiliates.

Performance Vesting Requirement. (a) The “Performance Period” for the Award shall be the 3-year period commencing on January 1, 2021 and ending on December 31, 2023. The Award shall be subject to performance vesting requirements based upon the achievement of the Company’s performance goals as established by the Committee under the EIP and subject to certification of the degree of achievement of such performance measures by the Committee. (b) The Company performance measures (“Metrics”) are (1) Industrial Return on Invested Capital (“Industrial ROIC”), (2) Adjusted Diluted Earnings Per Share (“Adjusted EPS”), and (3) Relative Total Shareholder Return (“Relative TSR”), in each ca. (c) The number of the Units earned under this Agreement by the Participant will be determined at the end of the Performance Period and in each case is based on the level of achievement of the Metrics, your individual performance and demonstration of Company values and having remained with the Company in a comparable weighted key leadership position for the Performance Period pursuant to and in accordance with Schedule A. All determinations of whether the Metrics have been achieved, the number of Units earned by the Participant, and all other matters related to this Section 2 shall be made by the Committee in its sole discretion.

Performance Vesting Requirement. The Performance Stock Units subject to this Award (the “PSUs”) shall performance vest based on performance during the Performance Period as set forth in Exhibit A.

Performance Vesting Requirement. The Performance Restricted Stock Unit Award shall, so long as the Employee remains employed with the Company or its Subsidiaries through the Vesting Date (or the provisions of Section 2(a)(iii) otherwise apply), vest on the Vesting Date as follows:

Performance Vesting Requirement. The Award shall be subject to performance vesting requirements in two installments, each of which shall relate to 50% of the total number of Stock Units granted hereunder, based upon the achievement of the Performance Targets applicable to the Performance Periods specified below, subject to certification of achievement of such Performance Targets by the Committee pursuant to Section 4.8 of the Plan (and to compliance with subsection B of this Section 2). The respective Performance Targets (and the Business Criteria to which they relate) shall be established by the Committee not later than 90 days following the beginning of each Performance Period. If the Performance Target for a Performance Period is not satisfied, the applicable portion of the Award shall be immediately forfeited. The Performance Periods for the Stock Units granted hereunder shall be as follows: