Performance Unit Account Sample Clauses
A Performance Unit Account clause establishes a dedicated account to track the value or number of performance units awarded to a participant, typically in the context of an incentive or deferred compensation plan. This account records credits and debits related to the performance units, such as additional units granted, forfeitures, or payouts based on performance metrics. By maintaining a clear record of each participant's entitlements and changes over time, the clause ensures accurate administration of performance-based awards and helps prevent disputes regarding benefit calculations.
Performance Unit Account. The Performance Units will be credited to Colleague’s Performance Unit Account as of the first day of the Performance Period and upon satisfaction of the conditions of this Agreement.
Performance Unit Account. The Corporation shall cause an account (the “Account”) to be established and maintained on the books of the Corporation to record the number of Performance Units credited to the Participant under the terms of this Agreement. The Participant’s interest in the Account shall be that of a general, unsecured creditor of the Corporation. For the avoidance of doubt, neither this Agreement nor the grant of Performance Units hereunder shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Corporation and a Participant or any other person.
Performance Unit Account. Colleague’s Performance Unit Account shall be a memorandum account on the books of the Company. The Performance Units credited to a Performance Unit Account shall be used solely as the basis for the determination of the amount of cash to be eventually distributed to Colleague in accordance with the Addendum to this Agreement. The Performance Units shall not be treated as property or as a trust fund of any kind. The Performance Units credited (and the amount of cash to which Colleague is entitled under the Plan) shall be subject to adjustment in accordance with the terms of the Plan.
Performance Unit Account. The Company shall establish an account on the books of the Company (an “Account”) for the Participant and shall notionally credit the Participant’s Account with any Performance Stock Units notionally earned by the Participant.
Performance Unit Account. The Company shall establish and maintain a Performance Unit account, as a bookkeeping account on its records (the “Performance Unit Account”), for the Participant and shall record in such Performance Unit Account the number of Performance Units granted to the Participant pursuant to this Agreement. The Participant shall not have any interest in any fund or specific assets of the Employer by reason of this grant or the Performance Unit Account established for the Participant.
Performance Unit Account. The Company shall maintain an account (the “Performance Unit Account” or “Account”) on its books in the name of the Recipient, which shall reflect the number of Performance Units awarded to the Recipient.
Performance Unit Account. Performance Units represent hypothetical Units and not actual Units. The General Partner shall establish and maintain a bookkeeping account on its records for the Service Provider (a “Performance Unit Account”) and shall record in such Performance Unit Account: (a) the number of Target Performance Units subject to the Award (including any additional Target Performance Units credited to the Service Provider pursuant to Section 3 hereof), (b) the number of Performance Units that have become Earned Performance Units, and (c) whether the Continuous Service Requirement applicable to Earned Performance Units has been satisfied. The Service Provider shall not have any interest in any fund or specific assets of the Partnership by reason of this Award or the Performance Unit Account established for the Service Provider.
Performance Unit Account. The General Partner shall establish and maintain a Performance Unit account, as a bookkeeping account on its records (the “Performance Unit Account”), for the Service Provider and shall record in such Performance Unit Account the number of Grant Date Performance Units granted to the Service Provider pursuant to this Agreement and the amount, if any, of accrued Distribution PIK Units. The Service Provider shall not have any interest in any fund or specific assets of the Partnership Entities by reason of this grant or the Performance Unit Account established for the Service Provider.
Performance Unit Account. The Performance Units will be credited to Colleague’s Performance Unit Account as of the Award Date and upon satisfaction of the conditions of this Agreement.