Example ContractsClausesGrant of Performance Stock Units
Grant of Performance Stock Units
Grant of Performance Stock Units contract clause examples

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 ofPerformance 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.

Grant of Performance Stock Units. Subject to the terms and conditions of this Agreement including but not limited to the NYSE Grant Limitation set forth in Paragraph 18 below, the Company hereby grants to the Employee ​ performance stock units (the “Performance Stock Units”). Such number of Performance Stock Units is referred to hereinafter as the “Target Award”. Each Performance Stock Unit represents one share of the Company’s common stock, $0.01 par value (“Common Stock”). The actual number of Performance Stock Units earned by the Employee shall be determined following the end of the three-year performance period coinciding with the Company’s fiscal years 20​ through 20​ (the “Performance Period”) based upon the satisfaction of the performance hurdles (the “Performance Criteria”) set forth in Exhibit A attached hereto. Following the completion of such Performance Period, and as soon as practicable following the date on which the Compensation Committee certifies the performance results for the Performance Period (the “Certification Date”) but subject to the NYSE Grant Limitation set forth in Paragraph 18 below, the Company shall issue to the Employee a number of shares of Common Stock equal to the number of Performance Stock Units earned by the Employee (the shares of Common Stock so issued to the Employee are herein referred to as the “Issued Common Stock”).

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 ofPerformance 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.

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 Performance Stock Units. The Company hereby grants to the Grantee an award of Performance Stock Units (the “Performance Stock Units”) in an amount of the Target Award, as set forth in the Summary of Grant, subject to the vesting and other terms and conditions of this Agreement.

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 Restricted Stock Units. The Company has granted to the Participant, effective as of the Date of Grant, [Quantity Granted] (the “Target Award”) Performance Restricted Stock Units, on the terms and conditions set forth in the Plan and this Agreement, subject to adjustment as set forth in Section 4.5 of the Plan (the “PRSUs”).

Grant of Performance Units. Subject to the restrictions, terms and conditions of this Agreement and the Plan Documents (as hereafter defined), the Company hereby awards to the Participant the number of performance units stated above (the “Performance Units”).

Performance Stock Units. The Company shall grant Executive an award of 150,000 performance stock units (“PSUs”). Each PSU shall entitle Executive to be issued one share of Company common stock upon vesting, provided, that any PSUs that have not vested as of the tenth (10th) anniversary of the date of grant shall thereupon terminate. One-third (1/3rd) of the PSUs shall vest upon the earlier to occur of # the date on which the Company’s common stock attains an average trading price of at least $36.875 per share as measured by a trailing 30-day volume-weighted average price (VWAP) or # a Change in Control (as defined in the Plan) of the Company with aggregate proceeds payable to the holders of Company common stock equal to at least $36.875 per share, as determined by the Board, in each case, subject to adjustment in the event of an equity restructuring (such as a stock split) and subject to Executive’s continued employment with the Company through the applicable vesting date. The remaining two-thirds (2/3rds) of the PSUs shall vest upon the earlier to occur of # the date on which the Company attains a market capitalization of at least $2.5 billion as measured based on the trailing 30 day volume-weighted average price (VWAP) of Company common stock or # a Change in Control of the Company with aggregate proceeds payable to holders of Company common stock of at least $2.5 billion, as determined by the Board, in each case, subject to Executive’s continued employment with the Company through the applicable vesting date.

Performance Stock Units. The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

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