EBITDA Restricted Stock Units. Subject to the Participant’s continued Employment with the Company and its Affiliates (except as provided in Section 3(g)) through February 28, 2009, the EBITDA Restricted Stock Units shall be earned with respect to one-half of the Shares subject to the EBITDA Restricted Stock Units on December 31, 2007 and one-half on December 31, 2008 to the extent that the Actual EBITDA for the fiscal year ending on such Performance Date equals or exceeds the Target EBITDA for such fiscal year. The minimum level of performance at which EBITDA Restricted Stock Units can be earned is eighty-five percent (85%) of Actual EBITDA. At this minimum level, fifty percent (50%) of the one-half of the EBITDA Restricted Stock Units can be earned on each Performance Date. Below the minimum level of performance, zero percent (0%) EBITDA Restricted Stock Units can be earned. EBITDA Restricted Stock Units will be straight line interpolated for performance falling between target and minimum levels.
Appears in 2 contracts
Sources: Restricted Stock Unit Agreement (Foundation Coal CORP), Restricted Stock Unit Agreement (Foundation Coal Holdings, Inc.)
EBITDA Restricted Stock Units. Subject to the Participant’s continued Employment with the Company and its Affiliates (except as provided in Section 3(g3(c)) through February 28March 17, 20092008, the EBITDA Restricted Stock Units shall be earned with respect to one-half third of the Shares subject to the EBITDA Restricted Stock Restricted Stock Unit Agreement - March 18, 2005 2 Units on December 31, 2007 and one-half on December 31, 2008 each Performance Date to the extent that the Actual EBITDA for the fiscal year ending on such Performance Date equals or exceeds the Target EBITDA for such fiscal year. The minimum level of performance at which EBITDA Restricted Stock Units can be earned is eighty-five percent (85%) of Actual EBITDA. At this minimum level, fifty percent (50%) of the one-half third of the EBITDA Restricted Stock Units can be earned on each Performance Date. Below the minimum level of performance, zero percent (0%) EBITDA Restricted Stock Units can be earned. EBITDA Restricted Stock Units will be straight line interpolated for performance falling between target and minimum levels.
Appears in 1 contract
Sources: Restricted Stock Unit Agreement (Foundation Coal Holdings, Inc.)