Vesting of Performance Stock Units. Subject to the terms of this Agreement and the Plan, the Award shall vest upon certification by the Committee of the level of achievement, if any, of the applicable goals under the Performance Measure as set forth on Appendix A hereto (the “Vesting Date”). The Award shall vest as of the Vesting Date at the level determined by the Committee, which may include the Committee’s exercise of downward discretion to adjust the actual amount of the payout of the Award, and provided that the terms and conditions of the Plan have been met and, provided, further, that the Participant remains employed at the Company on the Vesting Date (except as otherwise provided in this Agreement). As soon as practicable following the Vesting Date or such earlier vesting date as otherwise provided in this Agreement, the Award shall be promptly paid out in Shares. The number of Shares payable under the Performance Stock Unit may range from 0%-150% of award.
Appears in 5 contracts
Samples: Performance Stock Unit Agreement (Cullen/Frost Bankers, Inc.), Performance Stock Unit Award Agreement (Cullen/Frost Bankers, Inc.), Performance Stock Unit Agreement (Cullen/Frost Bankers, Inc.)
