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Common use of PSU Award Clause in Contracts

PSU Award. Except as otherwise provided in Section 5, Earned PSUs will be paid within 2.5 months following the end of the Performance Period, minus any shares of Common Stock withheld for taxes pursuant to Section 4 below. Earned PSUs will be paid in the form of the nearest number of whole shares of Common Stock which is equal to or less than the Earned PSUs determined by the reference to the performance matrix specified in Section 2(a) above.

Appears in 5 contracts

Samples: Long Term Incentive Award Agreement (Lennox International Inc), Long Term Incentive Award Agreement (Lennox International Inc), Long Term Incentive Award Agreement (Lennox International Inc)

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