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Annual Grant
Annual Grant contract clause examples

Grant. Effective on the Grant Date, Participant has been granted the number of Performance Stock Units indicated above, subject to and pursuant to all terms and conditions stated in this Agreement and in the Plan. Each Performance Share Unit shall represent a contingent right to receive one Share as described more fully herein, to the extent such Performance Share Unit becomes vested and settled pursuant to the terms of this Agreement in Restricted Stock. Capitalized terms used herein and not defined shall have the meaning given such terms in the Plan.

Grant of Performance Stock Units. Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant the number of Performance Stock Units provided in the Grant Notice (with each Performance Stock Unit representing the right to receive one share of Common Stock upon the vesting of such Performance Stock Unit). The Company may make one or more additional grants of Performance Stock Units to the Participant under this Performance Stock Unit Agreement by providing the Participant with a new Grant Notice, which may also include any terms and conditions differing from this Performance Stock Unit Agreement to the extent provided therein. The Company reserves all rights with respect to the granting of additional Performance Stock Units hereunder and makes no implied promise to grant additional Performance Stock Units.

Grant of Performance Stock Units. The Company grants to the Grantee on the date set forth above (the “Date of Grant”) an award consisting of the right to receive on the terms provided herein and in the Plan, one share of Stock with respect to each Performance Stock Unit forming part of the Award, in each case, subject to adjustment pursuant to [Section 7(b)] of the Plan in respect of transactions occurring after the date hereof.

Grant of Restricted Stock Units. On the Grant Date, subject to the provisions of this Agreement, the Participant has been granted a right (“Units”) to receive Shares based on the terms and conditions set forth in this Agreement, which shall be earned and vested (or not) as set forth in Section 4, with 5,500,000 Units representing the maximum number of Units that may become vested Units as set forth in Section 4, all subject to adjustment as provided in Section 7. 2,750,000 of such Units are designated as “Performance Units” and 2,750,000 of such Units are designated as “Time-Based Units”. Each Unit represents a right to receive one (1) Share on the Settlement Date (as defined below).

Grant of Restricted Stock Units. On the Grant Date, subject to the provisions of this Agreement, the Participant has been granted a right (“Units”) to receive Shares based on the terms and conditions set forth in this Agreement, which shall be earned and vested (or not) as set forth in Section 4, with 5,500,000 Units representing the maximum number of Units that may become vested Units as set forth in Section 4, all subject to adjustment as provided in Section 7. 2,750,000 of such Units are designated as “Performance Units” and 2,750,000 of such

On the Grant Date, the Company hereby grants to Participant an Award of Stock Units (the “Award”) in accordance with the Plan and subject to the conditions set forth in this Agreement and the Plan. Each Stock Unit represents the right to receive one Common Share (as adjusted from time to time pursuant to [Section 15] of the Plan) subject to the fulfillment of the vesting and other conditions set forth in this Agreement. By accepting the Award, Participant irrevocably agrees on behalf of Participant and Participant’s successors and permitted assigns to all of the terms and conditions of the Award as set forth in or pursuant to this Agreement and the Plan.

Vesting. Subject to the conditions contained herein and in the Plan, the Performance Stock Units shall vest as provided in the Grant Notice. With respect to any Performance Stock Unit, the period of time that such Performance Stock Unit remains subject to vesting shall be its Restricted Period.

Grant of Performance Stock Units. The Company hereby grants to the Employee an Award of Performance Stock Units (such number to be determined as set forth in Section 4(b) based on a target award of ​ Performance Stock Units) on the terms and conditions set forth herein and in the Plan. Each Performance Stock Unit represents the right of the Employee to receive the payment of one Share on the date that payment is made.

[[Company:Organization]], [[Company:Organization]] (the “Company”), pursuant to its 2013 Stock-Based Incentive Compensation Plan, as amended and restated effective June 14, 2019 (the “Plan”), hereby grants to the individual listed below (the “Grantee”), this performance stock unit grant representing the target number of performance stock units set forth below (the “Performance Stock Units”) that may become earned and vested by the Grantee based on the level of achievement of the Performance Goals. The actual number of Performance Stock Units earned and vested will be based on the actual performance level achieved with respect to the Performance Goals set forth on [Schedule A]. The Performance Stock Units are subject in all respects to the terms and conditions set forth herein, in the Performance Stock Unit Award Agreement attached hereto as Exhibit A (the “Performance Stock Unit Award Agreement”) and the Plan, each of which is incorporated herein by reference and made part hereof. Unless otherwise defined herein, capitalized terms used in this Performance Stock Unit Summary of Grant (the “Summary of Grant”) and the Performance Stock Unit Award Agreement will have the meanings set forth in the Plan.

Grant of Restricted Stock Units. On the Grant Date, subject to the provisions of this Agreement, the Participant has been granted a right (“Units”) to receive Shares based on the terms and conditions set forth in this Agreement, which shall be earned and vested (or not) as set forth in Section 4, with 920,000 Units representing the target number of Units that may become vested Units (with 1,180,000 Units as the maximum number of Units that may become vested) as set forth in Section 4, all subject to adjustment as provided in Sections 4 and 7. 520,000 of such maximum Units are designated as “Performance Units” (with a target of 260,000 Performance Units) and 660,000 of such maximum Units are designated as “Time-Based Units.” Each Unit represents a right to receive one (1) Share on the Settlement Date (as defined below), subject to adjustments below.

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