Two Performance Periods Sample Clauses
The "Two Performance Periods" clause establishes that the obligations or deliverables under a contract are divided into two distinct timeframes, each with its own set of requirements or milestones. In practice, this means that the parties must meet specific targets or complete certain tasks within each designated period, and the contract may outline different standards, payment schedules, or evaluation criteria for each. This structure helps to clearly define expectations and responsibilities over time, reducing ambiguity and allowing for better management and assessment of performance throughout the contract's duration.
Two Performance Periods. The number of Performance Shares the Participant will receive in connection with this Award will be based on the Company’s performance during two (2) periods. The initial performance period for the Participant’s Performance Shares (the “Initial Performance Period”) will begin on January 1, 2015 and end on December 31, 2016 (two years). The secondary performance period for the Participant’s Performance Shares (the “Secondary Performance Period”) will begin on January 1, 2015 and end on December 31, 2017 (three years). The Initial Performance Period and the Secondary Performance Period are collectively referred to as the “Performance Period.”
Two Performance Periods. The number of Performance Shares you receive in connection with this [20XX-20XX Performance Opportunity] will be determined on the basis of the Company’s performance during two periods. The initial performance period for your Performance Shares (the “Initial Performance Period”) will begin on [January 1, 20XX and end on December 31, 20XX]. The secondary performance period for your Performance Shares (the “Secondary Performance Period”) will begin on [January 1, 20XX and end on December 31, 20XX].