Common use of Vesting Determination Clause in Contracts

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units will be forfeited. • The number of the Target Units that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basis. Company’s Relative TSR Percentile Rank Total PSUs to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 6 contracts

Samples: Performance Share Unit Award Agreement (KEMPER Corp), Restricted Stock Unit Award Agreement (KEMPER Corp), Restricted Stock Unit Award Agreement (KEMPER Corp)

AutoNDA by SimpleDocs

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units will be forfeited. • The number of the Target Units that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basis. Company’s Relative TSR Percentile Rank Total PSUs to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 2 contracts

Samples: Performance Share Unit Award Agreement (KEMPER Corp), Performance Share Unit Award Agreement (KEMPER Corp)

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the CompanyUnitrin’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional SharesShares of Restricted Stock, if any, that will be issued to the Participant granted on the Vesting Date consistent with the following provisions: • If the CompanyUnitrin’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant granted on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant granted on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basisbasis from the percentages specified in the second column of the table. CompanyUnitrin’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares and/ or to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200200 % 75th 150150 % 50th 100100 % 25th 5050 % Below 25th 0%0 % • Additional Shares granted in accordance with the table above will be time-vested shares of Restricted Stock with a vesting date on the three-month anniversary of the date such Additional Shares are granted.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement, Performance Based Restricted Stock Award Agreement (Unitrin Inc)

Vesting Determination. Except as otherwise provided in Section E, the PSUs RSUs held by the Participant Award Holder will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant Award Holder has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant Award Holder on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant Award Holder on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant Award Holder on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basis. Company’s Relative TSR Percentile Rank Total PSUs RSUs to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (KEMPER Corp)

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant Restricted Stockholder on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant Restricted Stockholder on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant Restricted Stockholder on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basisbasis from the percentages specified in the second column of the table. Company’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 1 contract

Samples: Performance Based Restricted Stock Award Agreement (KEMPER Corp)

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the CompanyUnitrin’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional SharesShares of Restricted Stock, if any, that will be issued to the Participant granted on the Vesting Date consistent with the following provisions: • If the CompanyUnitrin’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant granted on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant granted on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the CompanyUnitrin’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basisbasis from the percentages specified in the second column of the table. CompanyUnitrin’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200200 % 75th 150150 % 50th 100100 % 25th 5050 % Below 25th 0%0 % • Additional Shares granted in accordance with the table above will be time-vested shares of Restricted Stock with a vesting date on the three-month anniversary of the date such Additional Shares are granted.

Appears in 1 contract

Samples: Performance Based Restricted Stock Award Agreement (Unitrin Inc)

AutoNDA by SimpleDocs

Vesting Determination. Except as otherwise provided in Section E, the PSUs RSUs held by the Participant Award Holder will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant Award Holder has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant Award Holder on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant Award Holder on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant Award Holder on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basis. Company’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 1 contract

Samples: Performance Based Restricted Stock Unit Award Agreement (KEMPER Corp)

Vesting Determination. Except as otherwise provided in Section E, the PSUs RSUs held by the Participant Award Holder will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant Award Holder has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant Award Holder on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant Award Holder on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant Award Holder on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basisbasis from the percentages specified in the second column of the table. Company’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200% 75th 150% 50th 100% 25th 50% Below 25th 0%

Appears in 1 contract

Samples: Performance Based Restricted Stock Unit Award Agreement (KEMPER Corp)

Vesting Determination. Except as otherwise provided in Section E, the PSUs held by the Participant will vest, to the extent earned for the Performance Period, and Additional Shares, if any, will be issued to the Participant, on the Vesting Date only if the Participant has not had a Separation from Service prior to such date. Once the Company’s Relative TSR Percentile Rank is determined by the Committee, the Company will confirm the number of Target Units Shares that will vest or be forfeited on the Vesting Date, and the number of Additional Shares, if any, that will be issued to the Participant Restricted Stockholder on the Vesting Date consistent with the following provisions: • If the Company’s Relative TSR Percentile Rank is at the Target Performance Level, 100% of the Target Units Shares will vest on the Vesting Date. If the Company’s Relative TSR Percentile Rank is above the Target Performance Level, Additional Shares will also be issued to the Participant Restricted Stockholder on the Vesting Date. If the Company’s Relative TSR Percentile Rank is less than the Target Performance Level, some or all of the Target Units Shares will be forfeited. • The number of the Target Units Shares that will vest on the Vesting Date, and the number of any Additional Shares that will be issued to the Participant Restricted Stockholder on the Vesting Date, will be determined in accordance with the table set forth below. Any Target Units Shares that do not vest in accordance with the table will be forfeited on the Vesting Date. If the Company’s Relative TSR Percentile Rank for the Performance Period falls between the percentile levels specified in the first column of the table, the number of PSUs Shares that will vest or Additional Shares that will be granted or forfeited on the Vesting Date shall equal the number corresponding to the percentage interpolated on a straight-line basisbasis from the percentages specified in the second column of the table. Company’s Relative TSR Percentile Rank Total PSUs Shares to Vest (and/or Additional Shares to be Granted) on Vesting Date as Percentage of Target Units Shares 90th or Higher 200200.00% 75th 150150.00% 50th 100100.00% 25th 5050.00% Below 25th 0%

Appears in 1 contract

Samples: Performance Based Restricted Stock Award Agreement (KEMPER Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.