mPower Performance RSUs Sample Clauses

mPower Performance RSUs. Each grantee under the RemainCo Legacy Equity Plans who holds, as of the Distribution Date, one or more performance-based restricted stock units listed on Schedule 3.5(d) (“mPower Performance RSUs”) shall receive, effective as of the Distribution Date and immediately prior to the Distribution, for each such mPower Performance RSU (in lieu of receiving any SpinCo restricted stock units in connection with such mPower Performance RSUs), a number of additional performance-based restricted stock units with respect to RemainCo Common Stock (the “Additional mPower Performance RSUs”), under one of the RemainCo Legacy Equity Plans. In each case, the number of shares of RemainCo Common Stock subject to an award of Additional mPower Performance RSUs shall be equal to the product of (x) and (y), where (x) is the number of shares of RemainCo Common Stock covered by the original award of mPower Performance RSUs and (y) is equal to (a) the Pre-Distribution RemainCo Share Price minus the Post-Distribution RemainCo Share Price, divided by (b) the Post-Distribution RemainCo Share Price, with the resulting number of shares subject to the Additional mPower Performance RSUs being rounded up or down to the nearest whole share. Except as provided in the foregoing provisions of this Section 3.5(d), Additional mPower Performance RSUs shall be granted on such terms which are in all material respects identical (including with respect to vesting and performance conditions) to the terms of the mPower Performance RSUs with respect to which they are granted.
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Related to mPower Performance RSUs

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • 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 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.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.