Unallocated PSU MIP Pool Sample Clauses
The Unallocated PSU MIP Pool clause defines a reserve of Performance Share Units (PSUs) under a Management Incentive Plan (MIP) that have not yet been assigned to specific participants. This pool allows the company to allocate additional PSUs to employees or executives at a later date, typically based on performance or as part of future incentive awards. By establishing an unallocated pool, the clause provides flexibility in rewarding employees and ensures that the company can respond to changing personnel needs or performance outcomes without amending the plan each time.
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Unallocated PSU MIP Pool. If any shares of Common Stock reserved for issuance under the Plan and included in the PSU MIP Pool (as defined and calculated in accordance with the methodology set forth in the illustrations attached as Appendix A hereto) remain unallocated as of the Wind Up Date, the Company shall take all necessary and appropriate actions to allocate, in connection with the Wind Up Date, such unallocated shares of Common Stock to the Key Persons (as defined below) who have not incurred a Termination prior to the Wind Up Date. Any shares of Common Stock allocated to eligible Key Persons pursuant to this Section 4(c) shall be allocated on a pro rata basis among such Key Persons in proportion to the initial grants of PSUs made to such Key Persons and shall be eligible to vest upon the Wind Up Date based on satisfaction of the conditions set forth in Section 3(a) as if such allocated shares of Common Stock had been included in such Key Person’s Target PSU amount initially. Any shares of Common Stock allocated to eligible Key Persons pursuant to this Section 4(c) shall be delivered to such Key Persons at the same time and in the same form as the PSUs to which they relate. For purposes of this Section 4(c), “Key Persons” means [_____].