During Performance Period Clause Samples
The "During Performance Period" clause defines the specific timeframe in which certain obligations, rights, or activities under the contract must be performed or are applicable. Typically, this clause clarifies that particular duties—such as delivering services, meeting milestones, or maintaining insurance—are only required while the contract is actively in effect. For example, a contractor may be required to maintain safety standards or provide progress reports only during the agreed performance period. This clause ensures that both parties understand the temporal boundaries of their responsibilities, preventing misunderstandings about when obligations begin and end.
During Performance Period. If the Participant dies or terminates employment with the Company and each of the Affiliates of the Company due to Disability or Retirement at any time during the Performance Period, if the applicable performance-based criteria for vesting specified in Section 2(A) of this Agreement have been met, a pro-rated portion of the PBRSUs granted to the Participant pursuant to this Agreement will vest on the Performance Date, which pro-rated portion will be equal to the product of: (a) the number of PBRSUs that would have been earned on the Performance Date based on the actual level of achievement for the Performance Period with respect to the performance-based criteria for vesting specified in Section 2(A) of this Agreement; multiplied by (b) the quotient of the number of full calendar months which have lapsed between the Grant Date and the date of the Participant’s death or the date of the Participant’s actual termination of employment with the Company and each of the Affiliates of the Company due to Disability or Retirement, as appropriate, divided by the number of months in the Performance Period.
During Performance Period. If ▇▇▇▇▇▇▇’s employment with the Company and its Subsidiaries is involuntarily terminated by the Company or a Subsidiary without Cause prior to the First Vesting Date, then Grantee will Vest immediately on the date of such termination in: (A) if such termination occurs within two years after a Change in Control, the number of PRSUs that have been earned based on the actual achievement of the Performance Metrics in accordance with the terms and conditions of Section 3 through the date of such Change in Control; or (B) if Section 4(b)(i)(A) does not apply, a number of PRSUs equal to the product of (1) the number of PRSUs that have been earned based on the actual achievement of the Performance Metrics in accordance with the terms and conditions of Section 3 through the date of such termination, multiplied by (2) a fraction (in no case greater than 1) the numerator of which is the number of whole months from the first day of the Performance Period through the date of such termination and the denominator of which is 49.
During Performance Period. If Grantee dies or becomes permanently disabled while in the employ of the Company or a Subsidiary prior to the First Vesting Date, then Grantee will Vest immediately on the date of such death or the date that Grantee is determined to be permanently disabled in the number of PRSUs that have been earned based on the actual achievement of the Performance Metrics in accordance with the terms and conditions of Section 3 through the date of such death or determination of permanent disability (or through the date of any applicable earlier Change in Control in accordance with Section 3(b)).
During Performance Period. If the Participant Retires at any time during the Performance Period, all PBRSUs granted to the Participant pursuant to this Agreement will be immediately forfeited; provided, however, that the Committee, in its sole discretion, may cause all or a portion of the PBRSUs granted to the Participant pursuant to this Agreement to vest as of the date of the Participant’s Retirement, as determined by the Committee.
During Performance Period. If the Participant dies or terminates employment with the Company and each of its Affiliates due to Disability at any time during the Performance Period, a pro-rated portion of the PBRSUs granted to the Participant pursuant to this Agreement will vest on the Performance Date, which pro-rated portion will be equal to the product of: (a) the number of PBRSUs that would have been earned on the Performance Date based on the level of achievement with respect to the performance-based criteria for vesting specified in Section 2(A) of this Agreement; multiplied by (b) the quotient of the number of full calendar months which have lapsed between the Grant Date and the date of the Participant’s death or the date of the Participant’s actual termination of employment with the Company and each of its Affiliates due to Disability, as appropriate, divided by the number of months in the Performance Period.