Common use of PSUs Clause in Contracts

PSUs. Except as otherwise provided in Section 5 of this Agreement or in the Plan: (i) Grant 2 - the PSUs in respect of this Grant 2 shall be earned based on the achievement of the Performance Goals set forth on Schedule 2 attached hereto and become vested on the date that the Board certifies the level at which such Performance Goals have been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals set forth on Schedule 2 are not achieved, the PSUs in respect of this Grant 2 shall be immediately forfeited. (ii) Grant 3 - the PSUs in respect of this Grant 3 shall be earned based on the achievement of the Performance Goals set forth on Schedule 3 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals set forth on Schedule 3 are not achieved, the PSUs in respect of this Grant 3 shall be immediately forfeited. (iii) Grant 4 - the PSUs in respect of this Grant 4 shall be earned based on the achievement of the Performance Goals set forth on Schedule 4 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals set forth on Schedule 4 are not achieved, the PSUs in respect of this Grant 4 shall be immediately forfeited.

Appears in 2 contracts

Samples: Stock Unit Awards Agreement (Autonation, Inc.), Stock Unit Awards Agreement (Autonation, Inc.)

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PSUs. Except as otherwise provided in Section 5 of this Agreement or in the Plan: (i) Grant 2 - the PSUs in respect of this Grant 2 shall be earned based on the achievement of the Performance Goals Goal set forth on Schedule 2 attached hereto and become vested on the date that the Board certifies the level at which such Performance Goals have Goal has been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals Goal set forth on Schedule 2 are is not achieved, the PSUs in respect of this Grant 2 shall be immediately forfeited. 1 For awards made to executive officers that were appointed prior to November 1, 2021. (ii) Grant 3 - the PSUs in respect of this Grant 3 shall be earned based on the achievement of the Performance Goals Goal set forth on Schedule 3 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have Goal has been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals Goal set forth on Schedule 3 are is not achieved, the PSUs in respect of this Grant 3 shall be immediately forfeited. (iii) Grant 4 - the PSUs in respect of this Grant 4 shall be earned based on the achievement of the Performance Goals Goal set forth on Schedule 4 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have Goal has been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals Goal set forth on Schedule 4 are is not achieved, the PSUs in respect of this Grant 4 shall be immediately forfeited.

Appears in 1 contract

Samples: Stock Unit Awards Agreement (Autonation, Inc.)

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PSUs. Except as otherwise provided in Section 5 of this Agreement or in the Plan: (i) Grant 2 - the PSUs in respect of this Grant 2 shall be earned based on the achievement of the Performance Goals Goal set forth on Schedule 2 attached hereto and become vested on the date that the Board certifies the level at which such Performance Goals have Goal has been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals Goal set forth on Schedule 2 are is not achieved, the PSUs in respect of this Grant 2 shall be immediately forfeited. (ii) Grant 3 - the PSUs in respect of this Grant 3 shall be earned based on the achievement of the Performance Goals Goal set forth on Schedule 3 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have Goal has been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals Goal set forth on Schedule 3 are is not achieved, the PSUs in respect of this Grant 3 shall be immediately forfeited. (iii) Grant 4 - the PSUs in respect of this Grant 4 shall be earned based on the achievement of the Performance Goals set forth on Schedule 4 attached hereto and become vested on the date the Board certifies the level at which such Performance Goals have been achieved, subject to the Participant’s continued employment with the Company, its Subsidiaries or its Affiliates through the end of the Performance Period set forth on such Schedule. If the Performance Goals set forth on Schedule 4 are not achieved, the PSUs in respect of this Grant 4 shall be immediately forfeited.

Appears in 1 contract

Samples: Stock Unit Awards Agreement (Autonation, Inc.)

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