Common use of Forfeitable Performance Shares Clause in Contracts

Forfeitable Performance Shares. (a) In lieu of earning Contingent Performance Shares, the Grantee may elect to receive 2,400 Forfeitable Performance Shares, irrespective of whether the Company meets any Performance Goals. For each of the three years of the Award Period, the Grantee may elect to receive 800 Forfeitable Performance Shares per year. The Grantee must make any such election on or before September 30, of the respective year, and the election must be made in writing, in a manner prescribed by the Committee. Once made, the election is irrevocable. If a Grantee makes such an election, he shall not receive any Contingent Performance Shares under this Agreement.

Forfeitable Performance Shares. (a) In lieu of earning Contingent Performance Shares, the Grantee may elect to receive 2,400 2,800 Forfeitable Performance Shares, irrespective of whether the Company meets any Performance Goals. For each of the three two remaining years of the Award Period, 2007 and 2008, the Grantee may elect to receive 800 1,000 Forfeitable Performance Shares per year. The Grantee must make any such election on or before September 30, of the respective year, and the election must be made in writing, in a manner prescribed by the Committee. Once made, the election is irrevocable. If a Grantee makes such an election, he shall not receive any Contingent Performance Shares under this Agreement.

Forfeitable Performance Shares. (a) In lieu of earning Contingent Performance Shares, the Grantee may elect to receive [number of shares - 2,400 for Xxxx X. Xxxxxxxxxxx, 1,705 for Xxxx X. Xxxxxx and 1,280 for Xxxxxxx X. XxXxxxxxx] Forfeitable Performance Shares, irrespective of whether the Company meets any Performance Goals. For each of the three years of the Award Period, the Grantee may elect to receive 800 Forfeitable Performance Shares per year. The Grantee must make any such election on or before September 30, of the respective year2006, and the election must be made in writing, in a manner prescribed by the Committee. Once made, the election is irrevocable. If a Grantee makes such an election, he shall not receive any Contingent Performance Shares under this Agreement.