Common use of Final Value Clause in Contracts

Final Value. The aggregate value of Performance Units that shall vest as of the third anniversary of the Award Date shall be equal to the product of (i) the number of Performance Units, multiplied by (ii) the Final Value. The Final Value shall be equal to the sum of the contribution value attributed to the level achieved for each of Cumulative EBITDA and relative TSR. In no event shall the Final Value exceed $200 per Performance Unit. If the performance ranking is below threshold for both Cumulative EBITDA and relative TSR, the Final Value shall be zero. The Final Value shall be determined in accordance with the tables above for each of Cumulative EBITDA and relative TSR with interpolation between the specified levels. EXHIBIT A TO 2018 PERFORMANCE UNIT AGREEMENT Designation of Beneficiary I, ____________________ (the “Participant”), hereby declare that upon my death, ____________________ (the “Beneficiary”) who resides at ____________________ (address) and who is my ____________________ (relationship), will be entitled to the 2018 Performance Award which may become payable under the Plan (if any) and all other rights accorded the Participant under the Participant’s 2018 Performance Unit Agreement (capitalized terms used but not defined herein have the respective meanings assigned to them in such agreement). It is understood that this designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If any such condition is not satisfied, such rights shall devolve according to the Participant’s last will and testament, or if none, then the laws of descent and distribution. It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked upon the filing of this designation with the Company. This designation of Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate Secretary of the Company prior to the Participant’s death. _________________________________ Participant _________________________________

Appears in 1 contract

Samples: 2018 Performance Unit Agreement (Oceaneering International Inc)

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Final Value. The aggregate value of Performance Units that shall vest as of the third anniversary of the Award Scheduled Vesting Date shall be equal to the product of (i) the number of Performance Units, multiplied by (ii) the Final Value. The Final Value shall be equal to the sum of the contribution value attributed to the level achieved for each of Cumulative Adjusted EBITDA and relative TSR. In no event shall the Final Value exceed $200 per Performance Unit. If the performance ranking is below threshold for both Cumulative Adjusted EBITDA and relative TSR, the Final Value shall be zero. The Final Value shall be determined in accordance with the tables above for each of Cumulative Adjusted EBITDA and relative TSR with interpolation between the specified levels. EXHIBIT A TO 2018 2020 PERFORMANCE UNIT AGREEMENT Designation of Beneficiary I, ____________________ the undersigned individual (the “Participant”), hereby declare that upon my death, ____________________ (the “Beneficiary”) who is my ____________________ (relationship) and who resides at ____________________ (address) and who is my ____________________ (relationship), will be entitled to the 2018 Performance Award which may become payable under the Plan (if any) and all other rights accorded the Participant under the Participant’s 2018 2020 Performance Unit Agreement (capitalized terms used but not defined herein have the respective meanings assigned to them in such agreement). It is understood that this designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If any such condition is not satisfied, such rights shall devolve according to the Participant’s last will and testament, or if none, then the laws of descent and distributionestate. It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked upon the filing of this designation with the Company. This designation of Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate Secretary of the Company prior to the Participant’s death. PARTICIPANT: _________________________________ Participant _________________________________ _________________________________ Date

Appears in 1 contract

Samples: 2020 Performance Unit Agreement (Oceaneering International Inc)

Final Value. The aggregate value of Performance Units that shall vest as of the third anniversary of the Award Scheduled Vesting Date shall be equal to the product of (i) the number of Performance Units, multiplied by (ii) the Final Value. The Final Value shall be equal to the sum of the contribution value attributed to the level achieved for each of Cumulative Adjusted EBITDA and relative TSR. In no event shall the Final Value exceed $200 per Performance Unit. If the performance ranking is below threshold for both Cumulative Adjusted EBITDA and relative TSR, the Final Value shall be zero. The Final Value shall be determined in accordance with the tables above for each of Cumulative Adjusted EBITDA and relative TSR with interpolation between the specified levels. EXHIBIT A TO 2018 2019 PERFORMANCE UNIT AGREEMENT Designation of Beneficiary I, ____________________ the undersigned individual (the “Participant”), hereby declare that upon my death, ____________________ (the “Beneficiary”) who is my ____________________ (relationship) and who resides at ____________________ (address) and who is my ____________________ (relationship), will be entitled to the 2018 2019 Performance Award which may become payable under the Plan (if any) and all other rights accorded the Participant under the Participant’s 2018 2019 Performance Unit Agreement (capitalized terms used but not defined herein have the respective meanings assigned to them in such agreement). It is understood that this designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If any such condition is not satisfied, such rights shall devolve according to the Participant’s last will and testament, or if none, then the laws of descent and distributionestate. It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked upon the filing of this designation with the Company. This designation of Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate Secretary of the Company prior to the Participant’s death. PARTICIPANT: _________________________________ Participant _________________________________ _________________________________ Date

Appears in 1 contract

Samples: 2019 Performance Unit Agreement (Oceaneering International Inc)

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Final Value. The aggregate value of Performance Units that shall vest as of the third anniversary of the Award Date shall be equal to the product of (i) the number of Performance Units, multiplied by (ii) the Final Value. The Final Value shall be equal to the sum of the contribution value attributed to the level achieved for each of Cumulative EBITDA and relative TSR. In no event shall the Final Value exceed $200 per Performance Unit. If the performance ranking is below threshold for both Cumulative EBITDA and relative TSR, the Final Value shall be zero. The Final Value shall be determined in accordance with the tables above for each of Cumulative EBITDA and relative TSR with interpolation between the specified levels. EXHIBIT A TO 2018 2017 PERFORMANCE UNIT AGREEMENT Designation of Beneficiary I, ____________________ (the “Participant”), hereby declare that upon my death, ____________________ (the “Beneficiary”) who resides at ____________________ (address) and who is my ____________________ (relationship), will be entitled to the 2018 2017 Performance Award which may become payable under the Plan (if any) and all other rights accorded the Participant under the Participant’s 2018 2017 Performance Unit Agreement (capitalized terms used but not defined herein have the respective meanings assigned to them in such agreement). It is understood that this designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If any such condition is not satisfied, such rights shall devolve according to the Participant’s last will and testament, or if none, then the laws of descent and distribution. It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked upon the filing of this designation with the Company. This designation of Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate Secretary of the Company prior to the Participant’s death. _________________________________ Participant _________________________________

Appears in 1 contract

Samples: 2017 Performance Unit Agreement (Oceaneering International Inc)

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