Performance Unit definition

Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

Performance Unit means any grant pursuant to Section 6(h) hereof of a unit valued by reference to a designated amount of property (including cash) other than Shares, which value may be paid to the Participant by delivery of such property as the Committee shall determine, including cash, Shares, other property, or any combination thereof, upon achievement of such performance goals during the Performance Period as the Committee shall establish at the time of such grant or thereafter.

Performance Unit means an Award under Article 9 herein and subject to the terms of this Plan, denominated in units, the value of which at the time it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved.

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.

More Definitions of Performance Unit

Performance Unit means an Award granted to a Participant, as described in Article 9 herein.

Performance Unit means a right granted to a Participant pursuant to Section 10 to receive a payment equal to the value of a Performance Unit, as determined by the Committee, based upon attainment of applicable Performance Goal(s).

Performance Unit means a bookkeeping entry awarded pursuant to Section 8 of this Plan that records a unit equivalent to $1.00 or such other value as is determined by the Committee.

Performance Unit means an Award granted to a Participant pursuant to Section 8.

Performance Unit means a bookkeeping entry that records a unit equivalent to $1.00 awarded pursuant to Section 8 of this Plan.

Performance Unit means a bookkeeping entry representing a right granted to a Participant pursuant to Section 9 of the Plan to receive a payment equal to the value of a Performance Unit, as determined by the Committee, based upon performance.

Performance Unit means Awards granted pursuant to Section 10(a) of the Plan which may be paid in cash, in Shares, or such combination of cash and Shares as the Committee in its sole discretion shall determine.