Common use of Determination of Performance Clause in Contracts

Determination of Performance. Following completion of the Performance Period and prior to___________, the Committee will review and certify in writing whether (i) the Performance Criteria have been satisfied, and (ii) the number of PSUs granted under Section 1 shall be increased as provided in Exhibit A. At that time, the Committee may exercise negative discretion to reduce the number of shares of Common stock to be delivered pursuant to this Agreement. Following the issuance of this certification, the number of PSUs that the Grantee shall earn, if any, shall be final, conclusive and binding on the Grantee, and on all other persons, to the maximum extent permitted by law.

Appears in 1 contract

Sources: Performance Unit Award Agreement (Team Inc)

Determination of Performance. Following completion of the Performance Period and prior toto _______ __, _____, the Committee will review and certify in writing whether (i) the Performance Criteria have been satisfied, and (ii) the number of PSUs granted under Section 1 shall be increased as provided in Exhibit A. At that time, the Committee may exercise negative discretion to reduce the number of shares of Common stock to be delivered pursuant to this Agreement. Following the issuance of this certification, the number of PSUs that the Grantee shall earn, if any, shall be final, conclusive and binding on the Grantee, and on all other persons, to the maximum extent permitted by law.

Appears in 1 contract

Sources: Performance Unit Award Agreement (Team Inc)

Determination of Performance. Following completion of the Performance Period and prior toto [___________], the Committee will review and certify in writing whether (i) the Performance Criteria have Goal has been satisfied, and (ii) the number of PSUs granted under Section 1 shall be increased as provided in Exhibit A. achieved. At that time, the Committee may will decide whether to exercise its negative discretion to reduce the number of shares of Common stock to be delivered pursuant PSUs subject to this AgreementAgreement as permitted by Section 3 above and Section 6.4 of the Plan. Following the issuance of this certification, the number of PSUs that the Grantee shall earn, if any, shall be final, conclusive and binding on the Grantee, and on all other persons, to the maximum extent permitted by law.

Appears in 1 contract

Sources: Performance Share Award Agreement (Team Inc)