Determination of Payout Share Units Sample Clauses

Determination of Payout Share Units. “Payout Share Units” means the performance-adjusted number of PRSUs in a Tranche that are eligible to vest. With respect to each Tranche, the calculation of Payout Share Units is determined as follows (with all percentages rounded to the nearest .01): • The Annual Corporate Performance Factor is first determined for the performance year related to that Tranche (ranging from 0.00% to 125.00%). • The Annual Tier 1 Risk-Based Performance Factor for that same Tranche (either 0.00% or 100%) is then applied to the Annual Corporate Performance Factor. • If the Annual Tier 1 Risk-Based Performance Factor is 0.00%, the award is forfeited and cancelled as set forth in Section C.3. • If the Annual Tier 1 Risk-Based Performance Factor is 100.00%, then the Annual Risk Review Performance Factor will be applied to the Tranche. • The Annual Risk Review Performance Factor for that same Tranche (ranging from 0.00% to 100.00%) is then applied to the Annual Corporate Performance Factor to generate the overall “Annual Performance Factor” for the Tranche (ranging from 0.00% to 125.00%). • The number of Payout Share Units for that Tranche is calculated by applying the Annual Performance Factor as a percentage of the initial outstanding PRSUs in a Tranche, rounded down to the nearest whole unit.
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Determination of Payout Share Units. For each Tranche, the Annual Risk Review Performance Factor determined for the performance year related to that Tranche will range from 0.00% to 100.00%. “Payout Share Units” means the performance-adjusted number of PRSUs in a Tranche that are eligible to vest. With respect to each Tranche, the calculation of Payout Share Units is determined as follows (with all percentages rounded to the nearest .01): • The number of Payout Share Units for that Tranche is calculated by applying the Annual Risk Review Performance Factor for the applicable performance year as a percentage of the initial outstanding PRSUs in the corresponding Tranche, rounded down to the nearest whole unit. • Initial outstanding PRSUs in a Tranche that do not become Payout Share Units will be cancelled. • Payout Share Units not otherwise cancelled will become vested, settled and paid upon satisfaction of all applicable terms of this Agreement.
Sample 1

Related to Determination of Payout Share Units

  • 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 Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • 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 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. 

  • 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.

  • Payment of Dividend Equivalents With respect to each of the RSUs covered by this Agreement, Grantee shall be credited on the records of the Company with dividend equivalents in an amount equal to the amount per Common Share of any cash dividends declared by the Board on the outstanding Common Shares during the period beginning on the Date of Grant and ending either on the date on which Grantee receives payment for the RSUs pursuant to Section 6 hereof or at the time when the RSUs are forfeited in accordance with Section 5 of this Agreement. These dividend equivalents will accumulate without interest and, subject to the terms and conditions of this Agreement, will be paid at the same time, to the same extent and in the same manner, in cash or Common Shares (as determined by the Committee) as the RSUs for which the dividend equivalents were credited.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Award Distribution (a) In the event of any partial taking of any Leased Property, the entire Award shall belong to and be paid to Lessor, except that, subject to the rights of the Facility Mortgagees, Tenant shall be entitled to receive from the Award, if and to the extent such Award specifically includes such item, the following:

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