Example ContractsClausesexpiry of performance share awardVariants
Expiry of Performance Share Award
Expiry of Performance Share Award contract clause examples

Cash Performance Award. Subject to your continuous employment with [[Organization A:Organization]] through June 30, 2021 (or earlier in certain instances as provided for in [Schedule D] to this Agreement), and during the periods specified herein, if the [[Organization B:Organization]] achieves at least the threshold level of cumulative adjusted operating income (“COI”) for the relevant performance period as provided for in [Schedule D] to this Agreement, you shall be eligible to receive a lump sum cash payment (the “Cash Performance Award”). The amount of the Cash Performance Award to be awarded to you and the timing of such award shall be determined pursuant to the schedule set forth on [Schedule D] to this Agreement, a copy of which is attached hereto and incorporated herein by reference.

You shall be eligible to receive an additional cash payment (the “Cash Performance Award”) if you are continuously employed with the [[Organization B:Organization]] through June 30, 2021 (or your employment terminates under any of the circumstances described below), and during the periods specified herein, the [[Organization B:Organization]] achieves at least the lowest level of cumulative adjusted operating income (“COI”) set forth in the table below (or as the same may be adjusted in accordance with the terms hereof). Any amount of the Cash Performance Award that you earn (the “Earned Award”) shall be paid to you in cash, less applicable deductions and withholdings, as soon as practicable, but in no event later than ninety (90) days following June 30, 2021, subject to paragraph 10(d)(v) of the Agreement and paragraphs 4, 5, 6, and 7 of this [Schedule D].

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