Examples of Performance Units in a sentence
Such amounts shall be paid in a single lump-sum (a) at the same time as the delivery of Common Stock attributable to vested Performance Units, as described in Article I, Section 2, or (b) as soon as practicable following an accelerated vesting event described in Article I, Section 4 which requires payment prior to the Vesting/Payment Date, but in all cases not later than the 15th day of the third month following the end of the month in which such Vesting/Payment Date or accelerated payment date occurs.
Whether and to what extent the Target Performance Units shall vest will be determined based on the Company’s Adjusted Cumulative Earnings Per Share (“EPS”) and the Company’s total shareholder return (“TSR”) relative to the TSR of a Peer Group (as defined below) (“Relative TSR”) during the Performance Period.
Upon attainment of “stretch” performance for the Performance Period in either EPS or Relative TSR, 100% of the Target Performance Units will vest, with 200% of such Target Performance Units vesting upon attainment of “stretch” performance for both EPS and Relative TSR.
Vesting of the Performance Units is contingent upon achievement of performance targets for the period from October 1, [____] through September 30, [____] (the “Performance Period”).
Provided that such Performance Units have not been forfeited pursuant to Article I, Section 5, a number of Performance Units will vest on the date the Human Capital Committee of the Board of Directors of the Company (the “Committee”) certifies and approves the results for the Performance Period, subject to the provisions of this Award Agreement (such date is hereinafter referred to as a “Vesting/Payment Date”).