Performance Vesting Terms Sample Clauses

Performance Vesting Terms. The Performance Stock is conditionally granted as a target award (the “Target Award”) subject to a performance period (the “Performance Period” described below), and in consideration for the services which the Participant is to render the Company over the vesting period during the Performance Period. The Performance Stock is subject to all of the terms and conditions set forth in this Agreement and the Plan. a) The Performance Period begins DATE and end DATE. During this period, the Company’s stock (NYSE: MCF) performance will be measured against the performance of the S&P Oil & Gas Exploration & Production Exchange-Traded Fund (NYSE-ARCA: XOP) (the “Fund”) over the same period. A five-day volume weighted average price (VWAP) using the first five trading days and the last five days of the Performance Period will be used to measure the Company’s stock price performance percentage over or under the Fund’s performance percentage. b) The Target Award will be adjusted by a “Modifier” (described within the chart in Section 10(c)(i)). A Participant’s earned award (if any) shall be equal to the Target Award multiplied by the Modifier for the applicable Performance Period after completion thereof, as reviewed and approved by the Board of Directors or a committee thereof (the “Earned Performance Stock”). The Modifier will be as follows based on the Company’s performance during the Performance Period compared to the Fund over the same period: 0% if performance is below minimum, 50% if performance is at minimum, 100% if performance is at target and 200% if performance is at or above the maximum level. For performance between the minimum and target level, a proportionate fraction of the Modifier between 50% and 100% will be applied, and for performance between the target level and maximum level, a proportionate fraction of the Modifier between 100% and 200% will be applied. c) In the event the absolute performance of the Company’s stock is negative for the Performance Period, the Modifier will be reduced by 50%. i) Example:
Sample 1
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Performance Vesting Terms. The Performance Stock is conditionally granted as a target award (the “Target Award”) subject to a performance period (the “Performance Period” described below), and in consideration for the services which the Participant is to render the Company over the vesting period during the Performance Period. The Performance Stock is subject to all of the terms and conditions set forth in this Agreement and the Plan. a) The Performance Period begins ______________ and ends _______________. During this period, the Company’s Total Shareholder Return (“TSR”) will be measured against the TSR of the following 21 peer companies (the “Peer Companies”): · Carrizo Oil & Gas, Inc. · Matador Resources Co. · WPX Energy, Inc. · QEP Resources, Inc. · Oasis Petroleum, Inc. · Xxxxxxx Petroleum Corp. · SM Energy Co. · Xxxx Xxxxxxx Corp. · Xxxxxx Oil Corp. · Energen Corp. · Extraction Oil & Gas Inc. · Denbury Resources, Inc. · Synergy Resources Corp. · Xxxxxxx Energy Corp. · W&T Offshore, Inc. · Abraxas Petroluem Corp. · Approach Resources, Inc. · EP Energy Corp. · Xxxxxx Petroleum Co. · Halcon Resources Corp. · Laredo Petroleum, Inc. b) Any Peer Company filing for bankruptcy during the Performance Period shall be moved to the bottom of the group (i.e. -100% TSR). Any Peer Company that is acquired during the Performance Period shall be removed from the comparison group. c) At the end of the Performance Period, the TSR for MCF and each of the Peer Companies is calculated and ranked highest to lowest, with a percentile rank assigned to each Peer Company, and Payout as % of Target as set forth in the table below. For performance ranks between those listed below, a proportionate fraction of the Payout as % of Target will be applied.
Sample 1
Performance Vesting Terms. In addition to the Time-Vesting Terms described in subsection (a) above, the Option shall vest and become exercisable only in the event the closing price of a share of the Common Stock reported on Nasdaq (the “closing share price”) during any thirty (30) consecutive trading days concluding on or prior to the fifth (5th) anniversary of the Grant Date reflects an increase of at least thirty percent (30%) over the Corporation’s volume-weighted average closing share price for the thirty (30) consecutive trading days preceding January 13, 2021 (the “Stock Price Performance Hurdle”). In the event the closing share price does not satisfy the Stock Price Performance Hurdle during a thirty (30) consecutive trading day period that concludes on or prior to the fifth (5th) anniversary of the Grant Date, the Option will expire and be cancelled as of such fifth (5th) anniversary date and you will not be entitled to exercise the Option or any portion thereof and will not be entitled to receive any consideration for the Option.
Sample 1
Performance Vesting Terms. The Performance Stock is conditionally granted as a target award (the “Target Award”) of which 0% to [ ]% of such Target Award may be earned based attainment on of the performance goals described below over the performance period (the “Performance Period” described below), and in consideration for the services which the Participant is to render the Company over the vesting period during the Performance Period. The Performance Stock is subject to all of the terms and conditions set forth in this Agreement and the Plan. a) The Performance Period begins [ ] and ends [ ]. During this period, the Company’s Total Shareholder Return (“TSR”, as further defined below) will be measured against the TSR of the following 12 peer companies (the “Peer Companies”): b) Any Peer Company filing for bankruptcy during the Performance Period shall be moved to the bottom of the group (i.e. -100% TSR). Any Peer Company that is acquired, merged, sells all or substantially all of its assets, ceases to be publicly traded or is otherwise involved in a transaction that makes it an improper comparison for the Company during the Performance Period shall be removed from the comparison group. c) At the end of the Performance Period, the TSR for MCF and each of the Peer Companies will be calculated and ranked highest to lowest, with a percentile rank assigned to each Peer Company, and associated payout as percentage of the Target Award granted as set forth in the table contained within section 2(d) (the “Payout as % of Target”). For performance ranks between those listed below, a proportionate fraction of the Payout as % of Target will be applied. ​
Sample 1
Performance Vesting Terms. In addition to the Time-Vesting Terms described in subsection (a) above, the Option shall vest and become exercisable only in the event the Stock Price Performance Hurdle is satisfied on or prior to February 1, 2024. The Stock Price Performance Hurdle is a period of thirty (30) consecutive trading days in which the closing price of a share of the Common Stock reported on Nasdaq is at least the greater of (1) 30% over the closing price of Common Stock on February 1, 2019, or (2) 15% over the closing price of Common Stock on the Grant Date (both closing prices are as reported by Nasdaq). In the event the Stock Price Performance Hurdle is not satisfied on or prior to February 1, 2024, the Option will expire and be cancelled as of February 1, 2024 and you will not be entitled to exercise the Option or any portion thereof and will not be entitled to receive any consideration for the Option.
Sample 1

Related to Performance Vesting Terms

  • Performance Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Time Vesting Subject to Sections 5(b) and 6 below, the RSUs will vest and become nonforfeitable in accordance with and subject to the time vesting schedule set forth on Exhibit A attached hereto, subject to the Participant’s continued status as a Service Provider through each applicable vesting date.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Vesting Dates The ISOs shall vest as follows, subject to earlier vesting in the event of a termination of Service as provided in Section 6 or a Change in Control as provided in Section 7:

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

  • Time-Based Vesting Fifty Percent (50%) of the Executive Stock shall vest on each date set forth below (each, a "Vesting Date") as to that number of shares of the Executive Stock set forth opposite such Vesting Date: Vesting Date No. of shares of Executive Stock ------------ -------------------------------- On the first anniversary of the Effective 12.5% of the Executive Stock Date After the first anniversary of the Effective An additional 1.0417% of the Executive Stock Date through the fourth anniversary of the on the first day of each calendar month after the Effective Date first anniversary of the Effective Date until 50% of the Executive Stock is vested

  • Vesting Provisions Subject to the provisions of paragraph 3 below, the option shall vest 33⅓% on each of July 31, 2020, July 31, 2021 and July 31, 2022, except as follows:

  • Restriction Period and Vesting (a) The Units shall vest and the restrictions shall lapse as follows: (i) 25% of the Units shall vest and restrictions shall lapse on each anniversary of the grant date (the “Vesting Dates”) until the Units are fully vested, or (ii) earlier pursuant to this Agreement or in accordance with Section 6.8 of the Plan (the “Restriction Period”). As used herein, the term “vest” shall mean no longer subject to a substantial risk of forfeiture. (b) If, prior to the end of the Restriction Period, the Holder’s employment with the Company terminates by reason of death or Disability, the Units that are then unvested shall vest in full, and restrictions shall lapse, as of the date of such termination. If, after twelve months of service have been rendered and prior to the end of the Restriction Period, the Holder’s employment with the Company terminates by reason of Retirement, the portion of the Award that is then unvested shall continue to vest after the date of such termination as if the Holder’s employment with the Company continued until the end of the Restriction Period. (c) If, prior to the end of the Restriction Period, the Holder’s employment with the Company terminates for any reason other than death or Disability, or Retirement, the Units that are then unvested as of the effective date of the Holder’s termination of employment shall be forfeited by the Holder and such portion shall be cancelled by the Company. (d) In the event of a Change in Control, as defined in the Plan, the Units shall immediately vest in full and the restrictions shall lapse as provided in Section 6.8 of the Plan; provided, however, that in the event that (i) the Units constitute the payment of nonqualified deferred compensation within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) the Change in Control does not constitute a “change in control event’ within the meaning of Section 409A of the Code, the Units shall not immediately vest upon such Change in Control, but instead shall vest and be payable in accordance with the vesting schedule set forth in clause (i) of Section 1(a) hereof, or earlier pursuant to Section 1(b) hereof.

  • Stock Vesting Unless otherwise approved by the Board of Directors, all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants and other service providers shall be subject to vesting as follows: (a) twenty-five percent (25%) of such stock shall vest at the end of the first year following the earlier of the date of issuance or such person’s services commencement date with the Company, and (b) seventy-five percent (75%) of such stock shall vest over the remaining three (3) years.

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