Examples of Performance Unit in a sentence
Each Performance Unit is hereby granted in tandem with a corresponding DER, which shall remain outstanding from the Grant Date until the earlier of the payment or forfeiture of the related Performance Unit and be subject to all of the terms and conditions contained in this Agreement and the Plan.
Similarly, upon the forfeiture of a Performance Unit, the DER (and the DER Account) with respect to such forfeited Performance Unit shall also be forfeited.
Performance Unit Award Agreement Page 5 of 9 Date of Grant: [●] [EMPLOYEE NAME] Company and Employee agree that any notices shall be given to the Company or to Employee at the following addresses: Company: Prairie Operating Co. Attn: General Counsel 600 Xxxxxx Xxxxxx Suite 710 Houston, Texas 77007 Employee: At Employee’s current address as shown in Company’s records.
Once a Performance Unit is earned, the DER (and the DER Account) with respect to such earned Performance Unit shall also become earned.
The Company shall establish, with respect to each Performance Unit, a separate DER bookkeeping account for such Performance Unit (a “DER Account”), which shall be credited (without interest) on the applicable distribution dates with an amount equal to any distributions made by the Partnership during the period that such Performance Unit remains outstanding with respect to the Unit underlying the Performance Unit to which such DER relates.