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Earned Applicable Performance Units
Earned Applicable Performance Units contract clause examples
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Restrictions Applicable to Units. Neither this Award nor the Units subject to this Award may be sold, assigned, transferred, exchanged or encumbered other than by will or the laws of descent and distribution. Any attempted transfer in violation of this Section 2 will be void and ineffective. The Units and your right to receive Shares in settlement of the Units under this Agreement will be subject to forfeiture except to extent the Units have vested as provided in Section 4.

stock and Performance Units to be issued in satisfaction of the earned bonuses will be

Sixty percent (60%) of the earned Performance-Based LTIP Units shall become vested on ​; and

Settlement and Payment of Performance Stock Units. Unless otherwise determined by the Committee, any earned Performance Stock Units shall be paid in the form of Shares following the close of the applicable performance period or at such other time as specified in the Award Agreement. Any Shares paid to a Participant under this Section 11.4 may be subject to any restrictions deemed appropriate by the Committee.

the applicable performance goals for the Performance Period have been satisfied, and # the number of Units that have been earned during the Performance Period as determined in accordance [Exhibit 1], which certification shall occur no later than the 10th day of the third calendar month following the end of the Performance Period.

The number of Performance Stock Units earned shall be determined, and shall vest, as of ​ based on the relative level of achievement of the Performance Goals as set forth in [Exhibit A] or earlier, upon an Acceleration Event (as defined in Section 5). The number of Performance Stock Units earned shall be determined by providing equal weight to the Performance Goals (such number of Performance Stock Units, the “Vested Performance Stock Units”). The determination of the Vested Performance Stock Units shall be made by the Compensation Committee of the Board of Directors in its sole discretion as soon as administratively possible after the Company’s audited financial statements are available for the final fiscal year of the Performance Period. Any Performance Stock Units or rights to Performance Stock Units that do not become Vested Performance Stock Units as of ​, or earlier upon an Acceleration Event, shall be immediately and automatically forfeited to the Company without notice and without consideration.

The number of earned GITBV Units shall be interpolated on a straight-line basis based on achievement of GITBV levels between the performance metrics specified above. No GITBV Units shall be earned if GITBV is less than 10.35%, and the maximum GITBV Units that may be earned shall be capped at 150% of the Target GITBV Amount even if GITBV in excess of 13.65% is achieved.

Value of Performance Units/Performance Shares. Each Performance Unit shall have an initial value that is established by the Committee at the time of grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the Grant Date. The Committee shall, in its sole discretion, set performance goals, as provided for in Article 12. The extent to which the performance goals are met will determine the value and/or number of Performance Units/Performance Shares that will be paid out to the Participant.

Grant of Performance Units. Subject to the provisions of Sections 5 and 6, Performance Units may be granted to Participants at any time and from time to time as shall be determined by the Committee. The Committee shall have complete discretion in determining the number of Performance Units granted to each Participant. Such entitlements of a Participant with respect to his or her outstanding Performance Units shall be reflected by a bookkeeping entry in the records of the Company, unless otherwise provided by the Award Agreement.

Value of Performance Units. Each Performance Unit shall have an initial value of one hundred dollars ($100.00). The Committee, in its sole discretion, shall determine and set forth the performance goals and length of the Performance Period in each Award Agreement which, depending on the extent to which they are met, will determine the ultimate value of the Performance Unit to the Participant.

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