Performance-Based Restricted Stock Unit Grant Sample Clauses

Performance-Based Restricted Stock Unit Grant. An award of 28,000 restricted stock units to be settled in shares of the common stock of ART (the “Restricted Stock Units”), subject to the approval of the Compensation Committee of the Board of Directors of ART. Such award shall be governed by the Stock Plan and a restricted stock unit award agreement between the Executive and ART. Subject to terms of the Stock Plan and the award agreement for the Restricted Stock Units, the Restricted Stock Units shall vest 100% upon completion of the Performance Period as described in the award agreement subject to the Executive’s continuous employment with the Company from the date of grant of such award through such vesting date, except as otherwise provided in Section 7(b).
Sample 1
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Performance-Based Restricted Stock Unit Grant. The Company hereby grants to the recipient of the award (Grantee), subject to the terms and conditions of this Agreement and the Plan, a copy of which the Grantee acknowledges having received, an Award in the form of performance-based Restricted Stock Units (RSUs). The RSUs are notional units (not actual Shares), representing an unfunded, unsecured right to receive shares in the future based on the level of achievement of the performance criteria set forth in Appendix A over a two-year performance period commencing January 1, 2019 and ending December 31, 2020 (Performance Period). The target number of RSUs awarded is 17,400 RSUs (Target Award). The actual number of RSUs that will be earned will be determined in accordance with Appendix A, and may range from 0% to 150% of the Target Award.
Sample 1
Performance-Based Restricted Stock Unit Grant. Pursuant to the Plan, the Company hereby grants to the individual named in the Notice of Grant attached as Part I (the “Notice of Grant”) of this Agreement (the “Grantee”) under the Plan for past services and as a separate incentive in connection with his or her services and not in lieu of any salary or other compensation for his or her services, and Grantee hereby accepts from the Company, Performance-Based Restricted Stock Units, subject to all of the terms and conditions in this Agreement and the Plan, which is incorporated herein by reference. Subject to Section 19 of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan will prevail. Each Performance-Based Restricted Stock Unit is a bookkeeping entry representing the right to receive a Share, on the terms and conditions set forth herein and in the Plan. The Target Number of Performance-Based Restricted Stock Units stated in the Notice of Grant reflects the target number of Performance-Based Restricted Stock Units (the “Target Amount”). The number of Performance-Based Restricted Stock Units ultimately paid out to you will range from 0% to 200% of the Target Amount as determined based upon the Company's performance during the performance period against the performance goals as set forth in Attachment A.
Sample 1
Performance-Based Restricted Stock Unit Grant. At the meeting during which it approves grants of performance-based restricted stock units convertible into shares of Common Stock for other executive officers of Employer for the three-year performance period ending January 31, 2014 (the “2014 Performance Period”), the Compensation Committee will grant Employee, such grant to be effective on the Commencement Date if such meeting occurs prior thereto, performance-based restricted stock units which shall be convertible into a number of shares of Common Stock having the total grant date value of $850,000 and which shall otherwise be subject to the same terms as those granted to other executive officers of Employer for the 2014 Performance Period (the “2014 LTIP”). The number of shares of Common Stock underlying the 2014 LTIP shall be determined by dividing the grant value of the shares of Common Stock by the Grant Date Market Price. Conditions to this Grant: (A) this grant will not be made unless the Commencement Date occurs on or before May 2, 2011; and (B) this grant will not be made unless grants of performance-based restricted stock units for the 2014 Performance Period are made to other executive officers of Employer.
Sample 1
Performance-Based Restricted Stock Unit Grant. The Company hereby grants to the Grantee, subject to the terms and conditions of this Agreement and the Plan, a copy of which the Grantee acknowledges having received, an Incentive Bonus Award in the form of Restricted Stock Units (the “Award”). The Restricted Stock Units are notional units (not actual Shares), representing an unfunded, unsecured right to receive Shares in the future based on the level of achievement of the performance criteria set forth in Appendix A over a two-year performance period commencing January 1, 2015 and ending December 31, 2016 (the “Performance Period”). The “target” number of Restricted Stock Units awarded is [ ] (the “Target Award”). The actual number of Restricted Stock Units earned will be determined in accordance with Appendix A, and may range from 0% to 150% of the Target Award.
Sample 1

Related to Performance-Based Restricted Stock Unit Grant

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share 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.

  • Restricted Stock Unit Award Subject to the terms and conditions of the Plan and this Award Agreement, the Company hereby grants to the Participant the number of Restricted Stock Units indicated in the Notice of Grant (the “RSUs”). Each RSU represents one notional Share.

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • 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.

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.

  • Award of Restricted Stock Units The Company, effective as of the date of this Agreement, hereby grants to Participant an award of Restricted Stock Units, each Restricted Stock Unit representing the right to receive one share of Common Stock on such date as set forth herein, plus an additional amount pursuant to Section 2(b) hereof, subject to the terms and conditions set forth in this Agreement.

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