PERFORMANCE SHARE AWARD AGREEMENT Sample Clauses

PERFORMANCE SHARE AWARD AGREEMENT. This Performance Share Award Agreement includes provisions for prorated vesting in the event that your employment is terminated (other than Qualifying Termination) due to your death, Retirement or a Triggering Event. The following examples assume that the award agreement provides the indicated Effective Date and Vesting Date. Effective Date: January 1, 2018 Vesting Date December 31, 2020 Prorated Vesting in the event of death, Retirement or a Triggering Event: If your employment Terminates for one or more of the above reasons both prior to the Vesting Date and 6 months or more after the Effective Date, then a prorated portion of your performance shares will remain outstanding and the remainder of your performance shares will be canceled. For example, if your employment Terminates on October 10, 2018 for one or more of the above reasons, then the fractional percentage of your Granted RSUs that would remain outstanding would be determined as follows: there are 9 whole months from the Effective Date to the Termination Date divided by 36 whole months in the vesting period (9/36 or 25.0%) of your Granted Performance Shares (along with any additional Dividend Equivalent RSUs related to that portion) would remain outstanding and the remainder would be canceled as of your termination date. The shares that remain outstanding would continue to accrue additional performance shares due to Dividend Credits through the end of the three-year performance period. After the conclusion of the performance period the outstanding shares would be multiplied by the applicable performance score and the resulting total would vest and become payable in accordance with the “Payment of Earned Performance Share Awards” section above.
Sample 1
AutoNDA by SimpleDocs
PERFORMANCE SHARE AWARD AGREEMENT. (Effective for Plans beginning on or after January 1, 2010) Performance Period _______________________________ You have been selected to be a participant in the Black Hills Corporation 2005 Omnibus Incentive Plan (the “Plan”), as specified below: Participant: _____________________ Target Performance Share Award: ______ shares Performance Period: ______________________________ Performance Measure: Total Shareholder Return (“TSR”). Peer Index: AGL Resources Inc. AGL Otter Tail Corp OTTR ALLETE Inc. ALE PNM Resources, Inc. PNM Avista Corp AVA Portland General Electric Co. POR CH Energy Group Inc. CHG NV Energy, Inc. NVE Cleco Corp CNL UIL Holdings Corp UIL DPL Inc. DPL UniSource Energy Corp UNS Great Plains Energy Inc. GXP Vectren Corp VVC IDACORP Inc. XXX Westar Energy Inc. WR MDU Resources Group Inc. MDU WGL Holdings Inc. WGL NorthWestern Corp NWEC THIS AGREEMENT (the “Agreement”) effective _____________, represents the grant of Performance Shares by Black Hills Corporation, a South Dakota corporation (the “Company”), to the Participant named above, pursuant to the provisions of the Plan. The Plan provides a complete description of the terms and conditions governing the Performance Shares. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Agreement. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as follows:
Sample 1
PERFORMANCE SHARE AWARD AGREEMENT. The Performance Cycle shall commence on November 1, 2013 and end on October 31, 2016. The Performance Shares shall vest and be paid in Shares as follows:
Sample 1

Related to PERFORMANCE SHARE AWARD AGREEMENT

  • 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 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 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.

  • 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 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 Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • 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.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.