Two-Year Performance Shares Clause Samples

Two-Year Performance Shares. 25% of the Shares (the “Two-Year Performance Shares”) shall vest only if the Average Return on Equity for the two fiscal years contained within the Two-Year Performance Period is at least 10.0% (the “Two-Year Performance Criteria”); provided, that the percentage of the Two-Year Performance Shares that may be earned shall be based on the following: Two-Year Percentage of Performance Two-Year Performance Criteria Shares Earned > 20.0% 100.0% > 15.0% 83.3% > 10.0% 66.7% ; provided, further, that the exact percentage of the Two-Year Performance Shares, if earned, shall be calculated based on straight-line interpolation between the points shown above with fractional points rounded up to the nearest tenth of a percent. After the end of the Two-Year Performance Period, the Committee shall certify whether and to what extent the Two-Year Performance Criteria has been satisfied (“Two-Year Certification Date”), and the Two-Year Performance Shares, if earned, shall vest on the Applicable Vesting Date therefor. If the Two-Year Performance Criteria has not been satisfied, then the Two-Year Performance Shares shall be immediately and automatically forfeited. Upon the Two-Year Certification Date, any portion of the Two-Year Performance Shares that are not earned in accordance with the provisions above shall be immediately and automatically forfeited.
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Related to Two-Year Performance Shares

  • 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.