Common use of Performance Share Unit Award Clause in Contracts

Performance Share Unit Award. The Company hereby grants to the Grantee, on the terms and conditions hereinafter set forth, an Award of «ResAmount» Performance Share Units (the “Units”), each such Unit representing the right to receive one share of the Company’s common stock. The Units granted to the Grantee shall be credited to an account in the Grantee’s name. This account shall be a record of book-keeping entries only and shall be utilized solely as a device for the measurement and determination of the number of Shares to be granted to or in respect of the Grantee pursuant to this Agreement.

Appears in 2 contracts

Sources: Performance Share Unit Award Agreement (Archer Daniels Midland Co), Performance Share Unit Award Agreement (Archer Daniels Midland Co)