Common use of Satisfaction of Performance Objectives Clause in Contracts

Satisfaction of Performance Objectives. (i) The Performance Shares are granted to the Employee subject to the prohibitions on transfer set forth in Section 4 below, which shall lapse, if at all, based upon attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals delivered to the Employee at the time of the Award (the “Statement of Performance Goals”). (ii) The number of Performance Shares actually earned shall be contingent upon the attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals. The number of Performance Shares actually earned shall be determined upon the expiration of the Performance Period in accordance with the Statement of Performance Goals. The final determination of the number of Performance Shares actually earned and to be released without restriction on transfer will be authorized by the Xxxxxx Board of Directors, the Board Committee, or its designee. Performance Shares will be forfeited (A) if they are not earned at the end of the Performance Period or (B) except as otherwise provided herein, if the Employee ceases to be employed by the Corporation at any time prior to the expiration of the Performance Period. (iii) If employment is commenced after July 15th of the first fiscal year of the Performance Period (such commencement date is referred to as the “Start Date”), the final payout to be made to the Employee determined in accordance with the prior provisions of this Section 1(c) shall be reduced by 1/36th for each month between July 1 of the first fiscal year of the Performance Period and the Start Date. Only a Start Date prior to the 15th of a month shall be deemed employment for a full month. Other than with respect to the final payout, the pro-ration pursuant to this Section will not otherwise impact the Award (e.g., the Employee will have full voting rights and will be entitled to receive dividend equivalent payments and other distributions with respect to all Award shares).

Satisfaction of Performance Objectives. (i) The Performance Shares are granted to the Employee subject to the prohibitions on transfer set forth in Section 4 below, which shall lapse, if at all, based upon attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals delivered to the Employee at the time of the Award (the “Statement of Performance Goals”). (ii) The number of Performance Shares actually earned shall be contingent upon the attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals. The number of Performance Shares actually earned shall be determined upon the expiration of the Performance Period in accordance with the Statement of Performance Goals. The final determination of the number of Performance Shares actually earned and to be released without restriction on transfer will be authorized by the Xxxxxx Board of Directors, the Board Committee, or its designee. Performance Shares will be forfeited (A) if they are not earned at the end of the Performance Period or (B) except as otherwise provided herein, if the Employee ceases to be employed by the Corporation at any time prior to the expiration of the Performance Period. (iii) If employment is commenced after July 15th the first day of the first fiscal year of the Performance Period (such commencement date is referred to as the “Start Date”), the final payout Employee shall be eligible to be made receive a pro-rata portion of the Performance Shares which would have been issued to the Employee under the Award at the end of the Performance Period determined in accordance with the prior provisions of this Section 1(c) ), and the remaining Performance Shares subject to the Award shall be reduced automatically forfeited. Such forfeited portion shall be measured by 1/36th for each month a fraction, of which the numerator is the number of days between July 1 the first day of the first fiscal year of the Performance Period and the Start Date. Only a Start Date prior to , and the 15th denominator is the number of a month shall be deemed employment for a full monthdays of the Performance Period. Other than with respect to the final payout, the pro-ration pursuant to this Section will not otherwise impact the Award (e.g., the Employee will have full voting rights and will be entitled to receive dividend equivalent payments and other distributions with respect to all Award shares).

Satisfaction of Performance Objectives. (i) The Performance Shares are granted to the Employee subject to the prohibitions on transfer set forth in Section 4 below, which shall lapse, if at all, based upon attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals delivered to the Employee at the time of the making of the Award (the “Statement of Performance Goals”). (ii) The number of Performance Shares shares of Stock actually earned shall be contingent upon the attainment during the Performance Period of the performance objectives set forth in the Statement of Performance Goals. The number of Performance Shares actually shares of Stock earned shall be determined upon the expiration of the Performance Period in accordance with the Statement of Performance Goals. The final determination of the number of Performance Shares actually shares of Stock earned and to be released without restriction restrictions on transfer will be authorized by the Xxxxxx Hxxxxx Board of Directors, the Board Committee, or its designee. Performance Shares will be forfeited (A) if they are not earned at the end of the Performance Period or (B) and, except as otherwise provided herein, if the Employee ceases to be employed by the Corporation at any time prior to the expiration termination of the Performance PeriodPeriod and release of the restrictions on transfer relating to the Award as provided in Section 1(b) above. (iii) If employment is commenced after July 15th of the first fiscal year of the Performance Period (such commencement date is referred to as the “Start Date”), the final payout to be made to the Employee determined in accordance with the prior provisions of this Section 1(c) shall be reduced by 1/36th for each month between July 1 of the first fiscal year of the Performance Period and the Start Date. Only a Start Date prior to the 15th of a month shall be deemed employment for a full month. Other than with respect to the final payout, the pro-ration pursuant to this Section will not otherwise impact the Award (e.g., the Employee will have full voting rights and will be entitled to receive dividend equivalent payments and other distributions with respect to all Award shares).