Common use of Performance Unit Award Clause in Contracts

Performance Unit Award. II-VI hereby grants to Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 below (this “Award”). For the purposes of this Award: (1) “Performance Unit” shall equal one (1) share of II-VI Common Stock granted pursuant to this Agreement; (2) “Performance Period” shall mean the period from July 1, 2014 through and including June 30, 2017; (3) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (4) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.

Performance Unit Award. II-VI hereby grants to Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 below (this “Award”). For the purposes of this Award: (1) “Performance Unit” shall equal one (1) share of II-VI Common Stock granted pursuant to this Agreement; (2) “Performance Period” shall mean the period from July 1, 2014 2013 through and including June 30, 20172015; (3) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (4) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.

Performance Unit Award. II-VI hereby grants to Recipient an Award of Performance Units under the Plan, as specified in the Summary of Award, to be earned based upon achievement of the Performance Objectives in accordance with Section 2 below (this “Award”). For the purposes of this Award: (1) “Performance Unit” shall mean a bookkeeping entry that records a unit equal one (1) share of II-VI Common Stock to $1.00 granted pursuant to this AgreementAgreement and that is payable solely in cash; (2) “Performance Period” shall mean the period from July 1, 2014 2012 through and including June 30, 20172014; (3) “Target Award” shall mean the Target Award set forth in the Summary of Award; and (4) “Maximum Award” means the maximum number of Performance Units allowable under this Agreement as set forth in the Summary of Award representing 200% of the Target Award.