Common use of Performance Based Vesting Condition Clause in Contracts

Performance Based Vesting Condition. Appendix A sets forth the Performance Condition that must be satisfied in order for the Performance Shares to be eligible for vesting. The Performance Condition is based on the price of the Shares during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date (the “Performance Period”), all as set forth on Appendix A. The Committee shall certify in writing the extent to which the Performance Condition has been achieved and the number of Performance Shares eligible for vesting based on the Performance Condition as soon as administratively practicable, but no later than 60 days, following the end of the Performance Period (the “Certification Date”). The Performance Shares that become eligible for vesting under this Section 2(b) are hereinafter referred to as the “Eligible Performance Shares.” Any unvested Performance Shares which are not eligible for vesting based on the Performance Condition shall be automatically forfeited, terminated and cancelled effective as of the Certification Date without payment of any consideration by the Company, and the Participant or the Participant’s beneficiary or representative, as the case may be, shall have no further rights with respect to such Performance Shares under this Agreement.

Performance Based Vesting Condition. Appendix A sets forth the Performance Condition that must be satisfied in order for the Performance Shares to be eligible for vesting. The Performance Condition is based on the price of the Shares ▇▇▇▇▇▇▇▇▇▇▇’▇ annualized absolute total shareholder return (“ATSR”) during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date (the “Performance Period”), all as set forth on Appendix A. The Committee shall certify in writing the extent to which the Performance Condition has been achieved and the number of Performance Shares eligible for vesting based on the Performance Condition as soon as administratively practicable, but no later than 60 days, following the end of the Performance Period (the “Certification Date”). The Performance Shares that become eligible for vesting under this Section 2(b) are hereinafter referred to as the “Eligible Performance Shares.” Any Subject to Section 3, any unvested Performance Shares which are not eligible for vesting based on the Performance Condition shall be automatically forfeited, terminated and cancelled effective as of the Certification Date without payment of any consideration by the Company, and the Participant or the Participant’s beneficiary or representative, as the case may be, shall have no further rights with respect to such Performance Shares under this Agreement.

Performance Based Vesting Condition. Appendix A sets forth the Performance Condition that must be satisfied in order for the Performance Shares to be eligible for vesting. The Performance Condition is based on the price of the Shares ▇▇▇▇▇▇▇▇▇▇▇’▇ annualized absolute total shareholder return (“ATSR”) during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date (the “Performance Period”), all as set forth on Appendix A. The Committee shall certify in writing the extent to which the Performance Condition has been achieved and the number of Performance Shares eligible for vesting based on the Performance Condition as soon as administratively practicable, but no later than 60 days, following the end of the Performance Period (the “Certification Date”). The Performance Shares that become eligible for vesting under this Section 2(b) are hereinafter referred to as the “Eligible Performance Shares.” Any unvested Performance Shares which are not eligible for vesting based on the Performance Condition shall be automatically forfeited, terminated and cancelled effective as of the Certification Date without payment of any consideration by the Company, and the Participant or the Participant’s beneficiary or representative, as the case may be, shall have no further rights with respect to such Performance Shares under this Agreement.