Vesting Date; Performance Level Clause Samples
The 'Vesting Date; Performance Level' clause defines when certain rights, typically related to equity or benefits, become fully owned by an individual, and ties this vesting to the achievement of specific performance criteria. In practice, this means that an employee or recipient must meet predetermined performance targets—such as sales goals or project milestones—before their stock options or awards vest on a specified date. This clause ensures that incentives are aligned with organizational objectives, motivating recipients to achieve set goals while protecting the company from granting benefits without corresponding performance.
Vesting Date; Performance Level. Subject to the other terms and conditions of the Plan and this Award Agreement, the Award shall vest and become nonforfeitable based upon the cumulative operating profit (“Cumulative Operating Profit”) of Bunge for the three consecutive fiscal years ending prior to the Vesting Date. The portion of the Award that shall vest as of the Vesting Date shall be determined based upon the Cumulative Operating Profit achieved (with partial Shares rounded down so that only whole Shares shall vest) in the manner set forth in the table below (the “Vesting Table”). Below Threshold Less than U.S. $[ ] 0% Threshold U.S. $[ ] 50% of the Award Target U.S. $[ ] 100% of the Award Maximum U.S. $[ ] 200% of the Award The Cumulative Operating Profit amount shall be determined in good faith by the Committee as soon as practicable following the end of fiscal year 2007. Such determination shall be final and binding on the Participant and the Company. In the event that the Cumulative Operating Profit is between performance levels, the portion of the Award that will become vested shall be interpolated by the Committee, and the Participant shall be advised by the Committee in writing as to the portion of the Award that vests as of the Vesting Date. Any such determination by the Committee shall be final and binding on the Participant and the Company.
Vesting Date; Performance Level. Subject to the other terms and conditions of the Plan and this Award Agreement, the Award shall vest and become nonforfeitable based upon the cumulative diluted earnings per share (“Cumulative Earnings Per Share”) of Bunge for the three consecutive fiscal years ending prior to the Vesting Date. The portion of the Award that shall vest as of the Vesting Date shall be determined based upon the Cumulative Earnings Per Share achieved (with partial Shares rounded down so that only whole Shares shall vest) in the manner set forth in the table below (the “Vesting Table”). Below Threshold Less than U.S. $[ ] 0% Threshold U.S. $[ ] 50% of the Award Target U.S. $[ ] 100% of the Award Maximum U.S. $[ ] 200% of the Award The Cumulative Earnings Per Share amount shall be determined in good faith by the Committee as soon as practicable following the end of fiscal year 2007. Such determination shall be final and binding on the Participant and the Company. In the event that the Cumulative Earnings Per Share is between performance levels, the portion of the Award that will become vested shall be interpolated by the Committee, and the Participant shall be advised by the Committee in writing as to the portion of the Award that vests as of the Vesting Date. Any such determination by the Committee shall be final and binding on the Participant and the Company.
Vesting Date; Performance Level. Subject to the other terms and conditions of the Plan and this Award Agreement, the Award shall vest based upon the cumulative diluted earnings per share (“Cumulative Earnings Per Share”) of Bunge for the [ ] consecutive fiscal years ending prior to the Vesting Date. The portion of the Award that shall vest as of the [ ] anniversary of the Date of Grant (the “Vesting Date”) shall be determined based upon Cumulative Earnings Per Share achieved (with partial Shares rounded down so that only whole Shares shall vest) in the manner set forth in the table below (the “Vesting Table”). Below Threshold Threshold Target Maximum The Cumulative Earnings Per Share shall be determined in good faith by the Committee as soon as practicable following the end of fiscal year [ ]. Such determination shall be final and binding on the Participant and the Company. In the event that Cumulative Earnings Per Share is between performance levels, the portion of the Award that will become vested shall be interpolated by the Committee, and the Participant shall be advised by the Committee or its designee in writing as to the portion of the Award that vests as of the Vesting Date. Any such determination by the Committee shall be final and binding on the Participant and the Company.