Market Share Unit definition

Market Share Unit means a form of Stock Unit (as defined in the Long-Term Incentive Plan) that entitles a Participant to receive, at the end of the applicable Performance Period, between zero and two shares of Common Stock, based on the change in price of the Company’s Common Stock over such Performance Period.
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Market Share Unit award and which was otherwise eligible to vest contingent upon each of Xxxxxx’x continued services and the Company’s achievement of certain stock price performance goals through the performance period ending August 2023 (“Performance Goals”) and as listed on Exhibit 1 attached hereto (the “Market RSU Award” shall be eligible to be settled on its applicable scheduled vesting date (as in effect immediately prior to the effectiveness of this Agreement) and as listed on Exhibit 1 attached hereto as an unearned advance. The settlement and vesting eligibility level of the Market RSU Award shall remain subject to and determined with respect to the Company’s actual level of attainment of its applicable Performance Goals for such Market RSU Award; provided, however, that in the event of Xxxxxx’x death or Disability or a Change of Control prior to the vesting date of the Market RSU Award, the Market RSU Award will instead vest at the applicable levels and will be settled in accordance with the terms of the award agreement for the Market RSU Award as determined as if Xxxxxx had continued in employment with the Company through the date of Xxxxxx’x death or Disability or Change of Control, as applicable. If the Severance Benefit Conditions are not satisfied after shares have been issued in settlement of a Market RSU Award such that such issued shares are not earned, then within thirty (30) days following the date that the Company provides Xxxxxx with written notice that the Severance Benefit Conditions were not satisfied, Xxxxxx must transfer to the Company a number of shares equal to the number of shares that were previously issued in settlement of such Market RSU Award (and without regard to whether the Xxxxxx continues to own or controls such previously delivered shares) and Xxxxxx shall bear all costs of transfer, including any transfer taxes that may be payable in connection with such transfer. If at any time prior to settlement of a Market RSU Award, Xxxxxx does not satisfy the Severance Benefit Conditions, such Market RSU Award will immediately terminate and be cancelled and will not be eligible to thereafter settle or vest, and Xxxxxx will not receive any share issuance or other payment or other benefit in respect of such terminated Market RSU Award.
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Examples of Market Share Unit in a sentence

  • The number of Market Share Units initially credited to a Participant’s Market Share Unit Deferral Account shall be determined based upon the closing price of Common Stock on the date of crediting with the value of a Market Share Unit determined in the same manner as used by the Company for SEC disclosure purposes.

  • All amounts that a Participant elects to defer to a Market Share Unit Deferral Account and any Matching Amounts attributable thereto, shall be initially credited in Market Share Units.

  • If, on the Ratio Calculation Date, the Earned Market Share Unit Percentage is less than 100%, then, subject to Sections 3 and 4, the number of Market Share Units equal to the Target Market Share Units multiplied by the number of percentage points by which the Earned Market Share Unit Percentage is less than 100% shall be forfeited.

  • With respect to a Market Share Unit that is credited to a Participant’s Market Share Unit Deferral Account as a Matching Amount on a Market Share Unit Deferral, a Participant shall vest in such Market Share Unit three years from the last day of the Plan Year in which the Participant earned the Bonus to which such Market Share Unit Deferral relates; provided that the Participant is continuously employed by the Company from the date of crediting through such vesting date.

  • On the same day that a Bonus is credited to a Participant’s Stock Unit Deferral Account as a Stock Unit Deferral or Market Share Unit Deferral Account as a Market Share Unit Deferral on behalf of such Participant, the Company shall credit on behalf of such Participant, with respect to such Stock Unit Deferral or Market Share Unit Deferral, a Matching Amount.

  • Subject to Section 4.2(c) below, any Market Share Unit contributed to a Participant’s Market Share Unit Deferral Account as a Matching Amount that fails to vest because the employment condition set forth in the preceding sentence is not satisfied shall be forfeited as of the Participant’s Termination.

  • The Matching Amount shall be an amount equal to the lesser of $150,000 or 20 percent of such Participant’s Stock Unit Deferral or Market Share Unit Deferral amount.

  • Upon the occurrence of a Change in Control, any unearned Market Share Unit awards outstanding at the time of the Change in Control that are not Assumed by the entity effecting the Change in Control shall immediately become earned in such amount as shall be determined in accordance with the terms outlined in Section 3(a)(i) above.

  • If the Participant dies following a Retirement described in Section 3(a)(vi) prior to the Vesting Date, in such case, the Company shall deliver one share of common stock for each Market Share Unit not previously forfeited and being settled or, if determined by the Compensation Committee in its sole discretion, by a payment of cash equal to the Fair Market Value of one share of Common Stock for each March Share Unit being settled to the Participant’s estate (or beneficiary) upon his or her death.

  • All amounts that a Participant elects to defer to a Market Share Unit Deferral Account and any Matching Amounts attributable thereto shall convert to a number of Stock Units on the last day of the Performance Period based upon the product obtained by multiplying the applicable number of Market Share Units times the applicable Payout Factor.

Related to Market Share Unit

  • Share Unit means either an RSU or a PSU, as the context requires.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Restricted Share Unit means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Stock-Based Award means any Award, denominated in Shares, made pursuant to this Plan, including Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Deferred Stock Units, Performance Awards or Other Stock-Based Awards.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;