VESTING OF UNITS BASED ON PERFORMANCE REQUIREMENTS Sample Clauses

VESTING OF UNITS BASED ON PERFORMANCE REQUIREMENTS. The Performance Unit grants are based on the Company’s achievement of performance requirements and shall vest upon the later of the date the Board of Directors (or committee thereof, if applicable) certifies in writing that the Company achieved the following performance-based goals established by the Board of Directors (or committee thereof, if applicable) on a consolidated basis or the date on which the Company files with the Securities and Exchange Commission its Annual Report on Form 10-K for the Company's fiscal year ending September 28, 2019 (“PSU Vesting Date”): Granted Units Earned based on Average Return on Capital Employed Fiscal Years 2018 and 2019 Return on Capital Employed Requirement Minimum 50% 5% Par 100% 10% Maximum 150% 15% Performance Unit Awards shall be prorated between the Minimum and Maximum percentages based upon actual Return on Capital Employed results. Return on Capital Employed shall mean an amount calculated by dividing the sum of Delta Apparel, Inc.'s consolidated earnings before interest and tax for the 2018 and 2019 fiscal years by the sum of Delta Apparel, Inc.'s consolidated annual average capital employed for the 2018 and 2019 fiscal years. Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting at 100% of Performance Units:
Sample 1
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VESTING OF UNITS BASED ON PERFORMANCE REQUIREMENTS. The Performance Unit grants are based on performance requirements and shall vest upon the later of the date the Board of Directors (or committee thereof, if applicable) certifies in writing that the Company achieved the following performance-based goals established by the Board of Directors (or committee thereof, if applicable) on a consolidated basis or the date on which the Company files with the Securities and Exchange Commission its annual report on Form 10-K for the Company's fiscal year ending _____________ (“PSU Vesting Date”): Granted Units Earned based on Average Return on Capital Employed Fiscal Years 20__ and 20__ Return on Capital Employed Requirement Minimum ___% __% Par ______% ____% Maximum ______% ____% Performance Unit Awards shall be prorated between the Minimum and Maximum percentages based upon actual Return on Capital Employed results. The Return on Capital Employed shall mean an amount calculated by dividing the sum of Delta Apparel, Inc.'s consolidated earnings before interest and tax for the 20__ and 20__ fiscal years by the sum of Delta Apparel, Inc.'s consolidated annual average capital employed for the 20__ and 20__ fiscal years. Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting at 100% of Performance Units:
Sample 1
VESTING OF UNITS BASED ON PERFORMANCE REQUIREMENTS. The Performance Unit grants are based on performance requirements. ________________ of such Performance Units shall vest for the Company’s 2015 fiscal year and __________________ of such Performance Units shall vest for each of the Company’s 2016 and 2017 fiscal years, all upon the date that both of the following have occurred (1) the Board of Directors’ (or committee thereof, if applicable) certification in writing that the Company achieved the following performance-based goals established by the Board of Directors (or committee thereof, if applicable) on a consolidated basis and (2) the filing by the Company with the Securities and Exchange Commission of its annual report on Form 10-K for the applicable fiscal year (“PSU Vesting Date”). Notwithstanding the above, the Participant must be employed on the PSU Vesting Date to vest in the Performance Units for that fiscal year; provided, however, if the Participant’s employment is terminated by the Company other than for Cause (as defined in the Participant’s employment agreement with the Company), subject to satisfaction of the applicable performance criteria, the full award will be made for the fiscal year in which the Participant’s employment is terminated. The annual vested amount under this Section 2, if any, will be determined based upon the following performance criteria: Fiscal Years 2015, 2016 and 2017 Return on Capital Employed Requirement Granted Units Earned Based on Average Return on Capital Employed Less than 3% 0% 3% Minimum 20% 7% Par 100% 12% Maximum 120% Greater Than 12% Maximum 120% 1 Performance Unit Awards shall be prorated between the Minimum and Maximum percentages based upon actual Return on Capital Employed results. Notwithstanding the foregoing or anything to the contrary contained herein, the maximum amount that Executive may be awarded in any fiscal year pursuant to this Agreement is subject to the limitations set forth in Section 7(c) of the Plan, and Executive will forfeit any Awards in excess of such limitations in which he vests in any fiscal year as well as any related shares or cash awards to which he is otherwise entitled in connection with such excess Awards. The Return on Capital Employed shall mean an amount calculated by dividing the sum of Delta Apparel, Inc.’s consolidated earnings before interest and tax for the applicable fiscal year by the sum of Delta Apparel, Inc.’s consolidated annual average capital employed for the applicable fiscal year. Notwithstanding the ab...
Sample 1

Related to VESTING OF UNITS BASED ON PERFORMANCE REQUIREMENTS

  • Performance Requirements To receive the Monthly Capacity Payment in Section 8.1.2.1, Seller shall provide the Contract Capacity in each Peak Month for all on-peak hours as such peak hours are defined in Edison's Tariff Schedule No. TOU-8 on file with the Commission, except that Seller is entitled to a 20% allowance for Forced Outages for each Peak Month. Seller shall not be subject to such performance requirements for the remaining hours of the year.

  • 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.

  • 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.

  • Vesting Requirements The vesting of this Award (other than pursuant to accelerated vesting in certain circumstances as provided in Section 3 below or vesting pursuant to Section 6 below) shall be subject to the satisfaction of the conditions set forth in each of subsections A and B, as applicable, and, in each case, subsection C of this Section 2:

  • Vesting Conditions Each Award of Stock Units may or may not be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Award Agreement. A Stock Unit Award Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or other events. The Committee may determine, at the time of granting Stock Units or thereafter, that all or part of such Stock Units shall become vested in the event that a Change in Control occurs with respect to the Company.

  • 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 Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Performance Conditions The Shares shall be issuable only if (and to the extent) that the Performance Criteria, set forth herein, are satisfied during the Performance Period. The Controller of the Company and the Compensation Committee of the Board of Directors of the Company shall certify whether, and to what extent, the Performance Criteria have been achieved. If the minimum performance is not met, no Shares shall be issued and the Award shall be forfeited.

  • Performance Condition Notwithstanding the vesting schedule stated in the Award Notification, your Restricted Stock Units shall not vest unless the Company achieves positive Adjusted Net Earnings in any fiscal year during the term of the Award. “Adjusted Net Earnings” means net earnings determined in accordance with GAAP as publicly reported by the Company for a fiscal year, adjusted to eliminate the following: (1) the cumulative effect of changes in GAAP; (2) gains and losses from discontinued operations; (3) extraordinary gains or losses; and (4) any other unusual or nonrecurring gains or losses which are separately identified and quantified, including merger related charges. 

  • 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.

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