Common use of Determination and Certification of Performance Achievement Clause in Contracts

Determination and Certification of Performance Achievement. Subject to the provisions of Section 5, the Committee will certify the level of achievement of the Performance Goals following the end of the Performance Period. Any Performance Units that are not, based on the Committee’s determination, performance vested for the Performance Period, shall be automatically forfeited to the Company and cancelled as of the last day of the Performance Period. The Performance Units that performance vest shall remain subject to the service vesting requirements in Section 3. For the avoidance of doubt, except as specifically provided otherwise in Section 4, no Performance Units can vest unless and until (i) the applicable Performance Goal in Section 2(b) is met for the Performance Period and (ii) the service vesting requirement in Section 3 is met. Payment of any vested Performance Units shall be paid as provided in Section 5.