Statement of Performance Goals Clause Samples
A statement-of-performance-goals clause defines the specific objectives or outcomes that a party is expected to achieve under a contract. This clause typically outlines measurable targets, such as sales quotas, project milestones, or service quality standards, which serve as benchmarks for evaluating performance. By clearly articulating these goals, the clause ensures both parties have a mutual understanding of expectations and provides a basis for assessing compliance or triggering remedies if targets are not met.
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Statement of Performance Goals. This Statement of Performance Goals applies to the Performance Units granted to the Grantee on the Grant Date as evidenced by the Performance Unit Agreement between the Company and the Grantee (the “Agreement”). Capitalized terms used in this Statement of Performance Goals that are not specifically defined in this Statement of Performance Goals have the meanings assigned to them in the Agreement or in the Plan, as applicable.
Statement of Performance Goals. The Participant acknowledges that the Corporation intends for the information contained in the Statement of Performance Goals to remain confidential. Notwithstanding any other provision hereof, the Participant’s entitlement to any award or payment hereunder is contingent upon the Participant maintaining the confidentiality of the information contained in the Statement of Performance Goals. The Participant agrees that he or she shall not disclose or cause the disclosure of such information and shall hold such information confidential.
Statement of Performance Goals. This Statement of Performance Goals applies to the Stock Award granted to the Grantee on the Date of Grant and applies with respect to the Performance Share Agreement between the Company and the Grantee (the “Agreement”).
Statement of Performance Goals. This Statement of Performance Goals applies to the Performance Options granted to Participant on the Date of Grant and applies with respect to the Performance Stock Option Agreement between the Corporation and Participant (the “Agreement”). Capitalized terms used in this Statement of Performance Goals that are not specifically defined in this Statement of Performance Goals have the meanings assigned to them in the Agreement. The actual number of Performance Options earned by Participant will be determined by the Committee under the rules described below. Except as otherwise provided for in the Agreement, any Performance Options not earned hereunder will be canceled and forfeited.
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 ▇▇▇▇▇▇ 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.
Statement of Performance Goals and Performance Periods