Details of Performance Unit Award Sample Clauses

The "Details of Performance Unit Award" clause defines the specific terms and conditions governing the granting of performance unit awards to employees or participants. It typically outlines the number of units awarded, the performance criteria that must be met for vesting, the measurement period, and any payout schedules or methods. For example, it may specify that a certain number of units will vest if the company achieves a set revenue target over three years. This clause ensures clarity and transparency regarding how performance-based compensation is earned and distributed, helping both the employer and recipient understand their rights and obligations.
Details of Performance Unit Award. Pursuant to the Plan, the Company hereby grants a Performance Unit Award with the following terms: (i) The value of the Award shall be determined by comparing the Company’s percentile ranking of the Company’s TSR (as defined in the Addendum) on the last day of the Performance Period (as defined below) among the TSRs measured as of such date for the companies comprising the Peer Banks (as defined in the Addendum) in accordance with the following table: Below 25th $ 0 25th to below 50th 375,000 50th to below 75th 750,000 75th to below 90th 1,000,000 90th and above 1,125,000 (ii) The Performance Period means the period commencing on July 1, 2013 and ending June 30, 2016; (iii) In the event a Change in Control occurs prior to completion of the Performance Period, the Performance Unit Award shall be deemed valued at $1,000,000; and, (iv) The consideration, if any, for the Performance Units: Colleague’s Employment with the Company.
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Details of Performance Unit Award. Pursuant to the Plan, the Company hereby grants a Performance Unit Award with the following terms: (i) Except as otherwise provided in Section 1(a)(iv) of this Agreement, the Performance Unit Award shall be earned based on the percentile ranking of the Company’s TSR (as defined in the Addendum) on the last day of the Performance Period (as defined below) relative to the TSRs measured as of such date for the companies comprising the Peer Banks (as defined in the Addendum) on a straight line basis for performance achieved between the TSR Percentiles in accordance with the following table (“Earned Payout”): Below 25th $ 0 25th 500,000 50th 1,000,000 75th 1,500,000 90th and above 1,750,000 (ii) The Performance Period means the period commencing on July 1, 2015 and ending on June 30, 2018. (iii) If (A) Colleague’s employment is terminated during the Performance Period in circumstances that result in a lapse of the service-based forfeiture restrictions applicable to the Award pursuant to Section C of the Addendum and (B) no Change in Control Event has occurred during the Performance Period and prior to the Colleague’s termination of employment, then except as otherwise provided in Section 1(a)(iv) of this Agreement, the Award will remain outstanding and the Earned Payout will be determined in accordance with Section 1(a)(i) of this Agreement. (iv) If a Change in Control Event occurs prior to completion of the Performance Period, whether prior to or after Colleague’s termination of employment under circumstances in which the Award remains outstanding (as provided in Section 1(a)(iii) of this Agreement), the Earned Payout shall be deemed to be the greater of $1,000,000 or the amount calculated pursuant to Section 1(a)(i) of this Agreement as if the Performance Period ended on the last business day immediately preceding the date of the Change in Control Event.
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Details of Performance Unit Award. Pursuant to the Plan, the Company hereby grants a Performance Unit Award with the following terms: (i) 2012-2014 Target Performance Unit Award: (“2012-2014 Performance Units”); (ii) 2012-2015 Target Performance Unit Award: (“2012-2015 Performance Units” and together with the 2012-2014 Performance Units, the “Performance Units”); (iii) The date of the Performance Unit Award (the “Award Date”): ; and (iv) The consideration, if any, for the Performance Units: Colleague’s Employment with the Company.
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Related to Details of Performance Unit Award

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Grant of Performance Shares Pursuant to the provisions of (i) the Plan, (ii) the individual Award Agreement governing the grant, and (iii) these Terms and Conditions, the Employee may be entitled to receive Performance Shares. Each Performance Share that becomes payable shall entitle the Employee to receive from the Company one share of the Company's common stock (“Common Stock”) upon the expiration of the Incentive Period, as defined in Section 2, except as provided in Section 13. The actual number of Performance Shares an Employee will receive will be calculated in the manner described in these Terms and Conditions, including Exhibit A, and may be different than the Target Number of Performance Shares set forth in the Award Agreement.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award.