Normal Vesting Date. Your Units will be subject to vesting in accordance with the schedule identified in the Grant Notice (the “Normal Vesting Date”) and the number of Units that actually vest may be between 0% and 100% of your Units. If the scheduled Normal Vesting Date is a non-business day, the next following business day will be considered the Normal Vesting Date.
Normal Vesting Date. Subject to Sections 4.2-4.5, the RSUs granted to the Participant pursuant to this Agreement shall Vest on <<VESTING DATE>> (the “Vesting Date”).
Normal Vesting Date. Your Shares will vest in accordance with the schedules identified in the Grant Notices (the “Normal Vesting Date”) and the number of Shares that actually vest may be between 0% and 100% of your Shares. If the scheduled Normal Vesting Date is a non-business day, the next following business day will be considered the Normal Vesting Date.
Normal Vesting Date. Your Shares will vest in accordance with the schedules identified in the Grant Notices (the “Normal Vesting Date”) and the number of Shares that actually vest may be between 0% and 100% of your Shares.
Normal Vesting Date. Except as otherwise provided in this Award Agreement, the number of Total Units that will vest on the Normal Vesting Date will depend on the achievement of the following Performance Objectives during the Performance Period: (i) Net Income, (ii) Operating Income and (iii) Days of Working Capital, as set forth in the 2010 Bonus Plan approved by the Committee on October 15, 2009. The Performance Objectives will be dependent upon the Company’s consolidated worldwide performance during the Performance Period. With respect to each Performance Objective, the number of Restricted Stock Units that will vest on the Normal Vesting Date will equal: • Net Income: 33% of the Total Units, multiplied by the indicated percentage at the Threshold, Target, Stretch Budget, Maximum and high performance levels as set forth in the 2010 Bonus Plan approved by the Committee on October 15, 2009; • Operating Income: 33% of the Total Units, multiplied by the indicated percentage at the Threshold, Target, Stretch Budget, Maximum and high performance levels as set forth in the 2010 Bonus Plan approved by the Committee on October 15, 2009; and • Days of Working Capital: 34% of the Total Units, multiplied by the indicated percentage at the Threshold, Target, Stretch Budget, Maximum and high performance levels as set forth in the 2010 Bonus Plan approved by the Committee on October 15, 2009. If a Performance Objective is not achieved or is achieved at a performance level which is less than Threshold, all of your Restricted Stock Units with respect to that Performance Objective will be forfeited. If the achievement of a Performance Objective is between performance levels, the number of Restricted Stock Units that vest will be interpolated by the Company. Any Restricted Stock Units that do not vest as of the Normal Vesting Date shall be forfeited.
Normal Vesting Date. Except as otherwise provided in this Award Agreement, the number of Total Shares that will vest on the Normal Vesting Date will be determined by reference to both: [1] whether the Company’s Total Shareholder Return is positive or negative during the Performance Period; and [2] the relative performance of the Company’s Total Shareholder Return as compared to the Peer Group Companies during the Performance Period. The number of Performance Shares that will vest on the Normal Vesting Date will equal the number of Total Shares, multiplied by the applicable percentage as set forth in the tables below. If the Company’s Total Shareholder Return is between two percentages, the number of Performance Shares that vest will be interpolated by the Company. Notwithstanding the foregoing, any Performance Shares that do not vest as of the Normal Vesting Date shall be forfeited. Relative Performance of Total Shareholder Return to Peer Group Companies Negative Total Shareholder Return Less than 50th Percentile 0 % 50th Percentile 25 % 75th Percentile or Greater 50 % Relative Performance of Total Shareholder Return to Peer Group Companies Positive Total Shareholder Return 25th Percentile or Less 0 % 50th Percentile 50 % 75th Percentile or Greater 100 % As used in this Award Agreement, “Total Shareholder Return” for the Performance Period is calculated by first taking the theoretical value of $100 invested in the Shares at the 30-day average price of the Shares as of the Grant Date (i.e., the average daily closing price over the 30-day period preceding the Grant Date) and the theoretical value of $100 invested with each of the peer group companies in the S&P Special Chemicals Index (the “Peer Group Companies”) using the same 30-day average methodology as of the Grant Date. On the Normal Vesting Date, the value of the Shares (using the average daily closing price over the 30 days preceding the Normal Vesting Date and assuming all dividends are reinvested) is compared with the value of each of the Peer Group Companies (using the same 30-day average methodology as of the Normal Vesting Date and again assuming that all dividends are reinvested). However, your Award may vest earlier in the circumstances described below.
Normal Vesting Date. Except as otherwise provided in this Award Agreement, the number of Total Units that will vest on the Normal Vesting Date will depend on the achievement of the Performance Objectives, as set forth in the table below, during the Performance Period, as reported to and approved by the Committee. With respect to each Performance Objective, the number of Restricted Stock Units that will vest on the Normal Vesting Date will equal: [a] the applicable Percentage of Total Units, as set forth in the table below, multiplied by [b] the indicated percentage at the Threshold, Target, Stretch Budget and Maximum performance levels; provided, however, that if a Performance Objective is not achieved or is achieved at a performance level which is less than Threshold, all of your Restricted Stock Units with respect to that Performance Objective will be forfeited. If the achievement of a Performance Objective is between performance levels, the number of Restricted Stock Units that vest will be interpolated by the Company. Any Restricted Stock Units that do not vest as of the Normal Vesting Date shall be forfeited. Percentage of Threshold* Target* Stretch* Maximum* Performance Objective Total Units (33.33%) (66.67%) (83.33%) (100%) Net Income 40 % 85.71 % 100.00 % 114.00 % 131.37 % Cash Flow (Excluding Capital Expenditures) 30 % 85.65 % 100.00 % 114.20 % 131.34 % Return on Invested Capital 30 % 86.17 % 100.00 % 113.83 % 130.85 % * Expressed as percentages for public filing and confidentiality purposes Notwithstanding the foregoing, your Restricted Stock Units may vest earlier in the circumstances described below.
Normal Vesting Date. Subject to Sections 2(b), (c), (d) and (e) and Section 3, the Employee must continue to be employed by the Company or a Subsidiary through the close of the Company’s fiscal year that ends on or about May 30, 2009 for any of the Restricted Stock Units to become non-forfeitable. If the Employee continues to be employed by the Company or a Subsidiary through the close of that fiscal year (the “Normal Vesting Date”), all of the Restricted Stock Units shall thereupon become non-forfeitable.
Normal Vesting Date. The PRSUs granted to the Participant pursuant to this Agreement shall Vest upon the attainment of specific performance targets (“Performance Targets”) based upon the performance criteria and for the period (“Performance Period”) set forth on the attached Exhibit A. The performance criteria set forth on Exhibit A shall relate to the financial performance of the Company or a segment or identified business of the Company as selected by the Committee in accordance with Section 9.5 of the Plan. If the Performance Targets are not attained by the end of the Performance Period, then the PRSUs granted pursuant to this Agreement shall be forfeited to the Company without compensation or other consideration. The specific Performance Targets and Performance Period applicable to this PRSU grant shall Form of Restricted Stock Unit Agreement (Performance-Based) – Standard Intl. be as previously determined by the Committee and communicated to the Participant in writing.
Normal Vesting Date. Except as otherwise provided below, your rights in respect of your Matching Shares shall vest on the third anniversary of the date of grant (the "Normal Vesting Date").
