The Award. The Company hereby awards to the Participant the Target Number of Units set forth in the Grant Notice, which, depending on the extent to which the Performance Goal (as described by Plan) is attained during the Performance Period, may result in the Participant having the opportunity to earn as little as zero (0) Units or as many as the Maximum Number of Units. Subject to the terms of this Award Agreement and the Plan, each Unit, to the extent it becomes a Vested Unit, represents a right to receive one (1) share of Common Stock (a “Share”) on the Settlement Date. Unless and until a Unit has been determined to be an Earned Unit and has vested and become a Vested Unit as set forth in the Grant Notice, the Participant will have no right to settlement of such Units. Prior to settlement of any Units, such Units will represent an unfunded and unsecured obligation of the Company.
Appears in 2 contracts
Samples: Performance Stock Units Grant Notice and Global Psu Award Agreement (Silicon Laboratories Inc.), Performance Stock Units Grant Notice and Global Psu Award Agreement (Silicon Laboratories Inc.)
The Award. The Company hereby awards to the Participant the Target Number of Units set forth in the Grant Notice, which, depending on the extent to which the a Performance Goal (as described by Plan) is attained during the Performance Period, may result in the Participant having the opportunity to earn earning as little as zero (0) Units or as many as the Maximum Number of Units. Subject to the terms of this Award Agreement and the Plan, each Unit, to the extent it is earned and becomes a Vested Unit, represents a right to receive one (1) share of Common Stock (a “Share”) on the Settlement Date. Unless and until a Unit has been determined to be an Earned Unit and has vested and become a Vested Unit as set forth in the Grant Notice, the Participant will have no right to settlement of such Units. Prior to settlement of any earned and vested Units, such Units will represent an unfunded and unsecured obligation of the Company.
Appears in 1 contract
Samples: Market Stock Units Award Agreement (Silicon Laboratories Inc)
The Award. The Company hereby awards to the Participant the Target Number of Units set forth in the Grant Notice, which, depending on the extent to which the a Performance Goal (as described by Plan) is attained during the Performance Period, may result in the Participant having the opportunity to earn earning as little as zero (0) Units or as many as the Maximum Number of Units. Subject to the terms of this Award Agreement and the Plan, each Unit, to the extent it is earned and becomes a Vested Unit, represents a right to receive one (1) share of Common Stock (a “Share”) on the Settlement Date. Unless and until a Unit has been determined to be an Earned Unit and has vested and become a Vested Unit as set forth in the Grant Notice, the Participant will have no right to settlement of such Units. Prior to settlement of any Units, such Units will represent an unfunded and unsecured obligation of the Company.
Appears in 1 contract
The Award. The Company hereby awards to the Participant the Target Number of Units set forth in the Grant Notice, which, depending on the extent to which the Performance Goal Goals (as described by Plan) is are attained during the Performance Period, may result in the Participant having the opportunity to earn as little as zero (0) Units or as many as the Maximum Number of Units. Subject to the terms of this Award Agreement and the Plan, each Unit, to the extent it becomes a Vested Unit, represents a right to receive one (1) share of Common Stock (a “Share”) on the Settlement Date. Unless and until a Unit has been determined to be an Earned Unit and has vested and become a Vested Unit as set forth in the Grant Notice, the Participant will have no right to settlement of such Units. Prior to settlement of any Units, such Units will represent an unfunded and unsecured obligation of the Company.
Appears in 1 contract
Samples: Performance Stock Units Grant Notice and Global Psu Award Agreement (Silicon Laboratories Inc.)