Performance Units Granted Clause Samples

The 'Performance Units Granted' clause defines the allocation of performance-based incentive units to an individual, typically as part of an employee compensation or incentive plan. This clause specifies the number of units awarded, the conditions under which they are granted, and may outline the performance metrics or targets that must be met for the units to vest or become payable. By clearly stating the terms of the grant, this clause ensures transparency in how performance incentives are awarded and helps align employee objectives with organizational goals.
Performance Units Granted. Subject to the terms of the Plan, the Company hereby grants to <<Proper Name>> (the “Grantee”) a target number of Performance Units equal to <<Shares>> (the “Target Performance Units”) on February 11, 2015 (the “Grant Date”), payment of which depends on the Company's performance as set forth in this Agreement and in the matrix on Addendum A as approved by the Human Resources Committee (the “Committee”). In accordance with the terms of Section 10(b) of the Plan, the Performance Units evidenced by this Agreement are intended to be “Performance Compensation Awards” constituting “qualified performance-based compensation” under Section 162m of the Internal Revenue Code of 1986, as amended.
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Performance Units Granted. Subject to the terms of the Plan, the Company hereby grants to <<Proper Name>> (the “Grantee”) a target number of Performance Units equal to <<Shares>> (the “Target Performance Units”) on February 16, 2023 (the “Grant Date”), payment of which depends on the Company's performance as set forth in this Agreement and in the matrix on Addendum A as approved by the Human Resources Committee (the “Committee”).
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Performance Units Granted. The Committee hereby grants «Units_Granted» Performance Units to «Grantee» (the "Participant").
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Performance Units Granted. Performance Units granted to (the “Participant”).
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Performance Units Granted. [number of units] granted to [name of participant] (the “Participant”)
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Performance Units Granted. «Units_Granted» Performance Units granted to «Grantee» (the “Participant”).
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Related to Performance Units Granted

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • 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.