Vesting of Performance Based Restricted Stock Units Sample Clauses

Vesting of Performance Based Restricted Stock Units. The PRSUs will vest on the vesting date(s) shown or referred to on the Grant Notice, provided that (a) the performance condition(s) for the vesting of such PRSUs have been met, specifically including any required certifications of such performance condition(s), and (b) you continue to be an active Service Provider through each applicable vesting date. Without limiting the foregoing, the vesting of any PRSUs is conditioned on your performing the duties assigned to you by the Company’s management or Board, as applicable, in a manner and with results satisfactory to the Company’s management or Board, as applicable.
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Vesting of Performance Based Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Service Relationship on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1 shall lapse only with respect to the number of Performance-Based Restricted Stock Units specified as vested on such date. Incremental Number of Performance-Based Restricted Stock Units Vested Vesting Date PERFORMANCE CRITERIA ONE VEST DATE PERFORMANCE CRITERIA TWO VEST DATE PERFORMANCE CRITERIA THREE VEST DATE Exhibit 10.2 For the purposes of the above, the following definitions shall apply: Performance Criteria One shall mean: [INSERT] Performance Criteria One Vest Date shall mean: the date on which the Administrator shall have determined in its discretion that Performance Criteria One has been met. Performance Criteria Two shall mean: [INSERT] Performance Criteria Two Vest Date shall mean: the date on which the Administrator in its discretion shall have determined that Performance Criteria Two has been met. Performance Criteria Three shall mean: [INSERT] Performance Criteria Three Vest Date shall mean: the date on which the Administrator in its discretion shall have determined that Performance Criteria Three has been met. For the purposes of the Administrator’s determinations referenced in the definitions above, such determination shall occur promptly (within 30 days) following a notification by senior management that management believes one or more of Performance Criteria One, Performance Criteria Two and/or Performance Criteria Three has occurred, including the date of occurrence.
Sample 1
Vesting of Performance Based Restricted Stock Units. The Executive’s performance-based restricted stock units (“PSUs”) shall no longer be subject to any time-based vesting requirements (which shall be deemed to be satisfied at such time as the Release has been executed and delivered to the Company by the Executive and has become irrevocable), and shall continue to vest and pay based only on the applicable Company-based performance metrics provided in their applicable award agreements, as if the Executive’s employment had continued through any applicable payment dates.
Sample 1
Vesting of Performance Based Restricted Stock Units. So long as your Service continues, the PRSUs shall vest on (the “Vesting Date”). Except as described in Section 3, all PRSUs subject to this Agreement that have not vested shall be forfeited upon termination of your Service. Upon the Vesting Date, the Company’s cumulative earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the period to (the “Performance Period”) shall be measured (“Cumulative EBITDA”). There shall be no vesting or payout of any PRSUs if the Cumulative EBITDA for the Performance Period is below . Cumulative EBITDA of for the Performance Period shall result in a % vesting and payout of the PRSUs (or such greater percentage as may be obtained by linear interpolation for amounts greater than , but less than ); [Cumulative EBITDA of for the Performance Period shall result in a vesting and payout of the PRSUs (or such greater percentage as may be obtained by linear interpolation for amounts greater than million, but less than million);] Cumulative EBITDA of or greater for the Performance Period shall result in a 100% vesting and payout of the PRSUs. Payments, if any, shall be made as soon as practicable following the Vesting Date after the Compensation Committee of the Company’s Board of Directors certifies the Cumulative EBITDA achieved, but in any event no later than (the “Payment Date”). Payments, if any, shall be rounded down to the nearest whole Share.
Sample 1
Vesting of Performance Based Restricted Stock Units. (a) [FOR RESTRICTED STOCK UNITS: Subject to (i) the Participant’s Continued Service through the applicable Vesting Date (as defined below) and (ii) compliance with the terms and conditions of this Agreement (including without limitation, the restrictive covenants set forth in Appendix A), twenty-five percent (25%) of the Restricted Stock Units shall vest on each of the first four (4) anniversaries of the Date of Grant (each, a “Vesting Date”).]
Sample 1
Vesting of Performance Based Restricted Stock Units. Subject to (i) the Participant’s Continued Service through the last day of the 2020 Performance Period (as defined below) and (ii) compliance with the terms and conditions of this Agreement (including without limitation, the restrictive covenants set forth in Appendix A), the Performance-Based Restricted Stock Units shall be earned and vested following the end of the 2020 Performance Period (as defined below). One-third of the target number of Performance-based Restricted Stock Units granted in Section 1 will be assigned to each individual Performance Period, with the actual number of Performance-Based Restricted Stock Units in each tranche that will become earned and vested during that Performance Period to be determined based on the Company’s level of adjusted non-capitalized EBITDA (as defined below) generated (the “Performance Goal”) during the applicable performance periods set forth below (each a “Performance Period”). As used herein, “EBITDA” means Company adjusted non-capitalized earnings before interest, taxes, depreciation and amortization.
Sample 1
Vesting of Performance Based Restricted Stock Units. The Performance-Based Restricted Stock Units may be subject to accelerated vesting and settlement in connection with a Change of Control to the extent provided in Section 10 of the Plan.
Sample 1
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Vesting of Performance Based Restricted Stock Units 
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Related to Vesting of Performance Based Restricted Stock Units

  • Vesting of Performance Shares As long as you remain employed with PG&E Corporation, the Performance Shares will vest on the first business day of March (the “Vesting Date”) of the third year following the date of grant specified in the cover sheet. Except as described below, all Performance Shares subject to this Agreement that have not vested shall be forfeited upon termination of your employment.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Award of Performance Stock Units The Company hereby grants to you, effective as of the Grant Date, an Award of Performance Stock Units for that number of Performance Stock Units communicated to you and set forth in the Company’s records (the “PSUs”), on the terms and conditions set forth in such communication, this Agreement and the Plan. Each PSU represents the right to receive one share of Stock, subject to the terms and conditions set forth herein.

  • Award of Performance Shares Subject to all terms and conditions of the Plan and this Agreement, the Company has awarded to the Employee on the date indicated on the Award Summary the number of Performance Shares (individually, the “PS”) as shown on the Award Summary. Notwithstanding anything herein to the contrary, only active Employees and those Employees on Short Term Disability Leave, Social Service Leave, Family Medical Leave or Paid Uniform Services Leave (pursuant to the Company’s Human Resources Policies) on the effective date of the award as shown on the Award Summary shall be eligible to receive the award.

  • Grant of Performance Shares Pursuant to the provisions of the Plan and this Agreement, the Company on the Grant Date has granted and hereby evidences the grant to the Participant, subject to the terms and conditions set forth herein, in the Plan and the Addendum with Additional Country Specific Terms and Conditions attached as Exhibit A, all of which are made part of this Agreement, an award of <shares_awarded> Performance Shares (this “Award”).

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Payment of Performance Shares Payment of any Performance Shares that become earned as set forth herein will be made in the form of Common Shares, in cash, or in a combination of the two, as determined in the sole discretion of the Committee. Payment will be made as soon as practicable after the receipt of audited financial statements of the Corporation relating to the last fiscal year of the Performance Period and with respect to Covered Employees, the determination by the Committee of the level of attainment of the Management Objectives. Performance Shares will be forfeited if they are not earned at the end of the Performance Period and, except as otherwise provided in this Agreement, if the Grantee ceases to be employed by the Corporation or a Subsidiary at any time prior to such shares becoming earned.

  • Unvested Common Shares Issued in Settlement of Performance Share Awards If the Executive terminates employment pursuant to Sections 6(b), 6(d) or 6(e)(i) after the Performance Share Vesting Date, the vesting of all Unvested Common Shares (as defined in the Performance Share Agreement) issued in settlement of the Performance Share Award shall be accelerated in full effective as of the date of such termination.

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

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