Performance Stock definition
Examples of Performance Stock in a sentence
This Performance Stock Award Agreement (this “Agreement”) is entered into as of the date described above (the “Date of Grant”), between BROWN & BROWN, INC., a Florida corporation (together with its subsidiaries, the “Company”) and the grantee described above (the “Grantee”), pursuant to the terms and conditions of the Brown & Brown, Inc.
The Grantee desires to accept the Award of Performance Stock Units and agrees to be bound by the terms and conditions of the Plan and this Performance Stock Unit Award Agreement.
The Company grants to the Grantee the number of Performance Stock Units described above (the “PSUs”), effective as of the Date of Grant.
The Grantee desires to accept the Award of Performance-Based Restricted Stock and agrees to be bound by the terms and conditions of the Plan and this Performance Stock Award Agreement.
In the event a cash dividend is declared and paid with respect to the Stock while the Performance Stock Units are outstanding and unvested, then following the Vesting Date, Participant shall be entitled to payment of (a) dividend equivalents with respect to any shares of Stock earned and paid pursuant to this Award Agreement, and (b) accrued interest with respect to any such dividend equivalents, with such payment calculated in accordance with Schedule A.