Performance Cash Unit definition

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Performance Cash Unit means a hypothetical equivalent to a number of dollars established by the Committee and granted in connection with an Award made under Section 8 of the Plan.

Performance Cash Unit has the value of $1 each.

Examples of Performance Cash Unit in a sentence

Each Performance Cash Unit under this Award Agreement, if earned, represents the right to receive a cash payment equal to $1 on the Vesting Date.
Subject to the provisions of this Agreement, the Program and the Plan, the Company shall distribute to the Employee, for each Performance Cash Unit awarded under this Agreement, an amount equal to one dollar times the product of, (1) the number of Performance Cash Units MULTIPLIED BY (2) the Total Shareholder Return Performance Multiplier (as defined below) for the Performance Period (as defined below).
CTWS Performance Cash Unit Awards granted on or after the date of this Agreement shall not be subject to any accelerated vesting for any reason (including, without limitation, due to retirement or pursuant to the terms of any employment agreement between recipient and CTWS), except to the extent approved by the SJW Board (or a committee thereof).
Subject to the provisions of this Agreement, the Program and the Plan, the Company shall distribute to the Employee, for each Performance Cash Unit awarded under this Agreement, an amount equal to one dollar times the sum of, (1) the number of Performance Cash Units MULTIPLIED BY (2) the Total Shareholder Return Performance Factor (as defined below) for the Performance Period (as defined below).
The “Total Payout” to the Participant will be determined by multiplying the Payment Value per Performance Cash Unit by the number of vested Performance Cash Units held by the Participant.
No Performance Cash Unit shall be assignable or transferable otherwise than by will or by the laws of descent and distribution.
The Performance Measures, the weight that each Performance Measure carries with respect to the determination of the Payment Value of each Performance Cash Unit, and the Performance Targets for each Performance Measure are set forth below and are used to calculate the Payment Value in Section 6: The Performance Measures shall be calculated based on the Company’s financial statements and notes filed on Form 10-K.
The ROCE Criterion is one-hundred percent (100%) of the total weighting for each Performance Cash Unit.
The maximum payout for each Performance Cash Unit is $200 because the maximum award multiplier on the Payout Schedule is 2.00.
Notwithstanding paragraphs A and B above, in the event that both parties are held to be negligently or willfully responsible, each party will bear their own proportionate share of liability as determined in any such proceeding.

More Definitions of Performance Cash Unit

Performance Cash Unit means a right granted to a Participant employed in a Utility Company to receive an amount of cash subject to the achievement of the applicable performance goals and the satisfaction of the vesting conditions set forth in Section 3 of this Program.

Performance Cash Unit means any grant of an Award pursuant to Section 12 of this Plan, the value of which, if any, shall be paid to a Participant by delivery of cash upon achievement of such Performance Objectives during the Performance Period as the Administrator shall establish at the time of such grant or thereafter. (aa) The “Plan” means the ▇▇▇▇▇▇▇ Electronics, Inc. 2013 Equity Incentive Plan, as amended hereafter from time to time, including the form of Agreements as they may be modified by the Administrator from time to time.