Performance Unit Program Sample Clauses
The Performance Unit Program clause establishes a framework for awarding compensation or incentives based on the achievement of specific performance goals. Typically, this clause outlines the criteria for earning performance units, the measurement periods, and the process for calculating and distributing awards to eligible participants, such as employees or executives. By clearly defining how and when performance-based rewards are granted, the clause motivates desired behaviors and aligns individual objectives with organizational goals, ultimately ensuring that compensation is tied to measurable results.
Performance Unit Program. Employee will be eligible to participate in the Company’ Performance Unit Program (PUP). For the 2005 PUP, Employee shall be granted Twenty-Five Thousand (25,000) Units with an effective date of January 1, 2005; such grant is subject to the terms and conditions of the PUP Letter Agreement and PUP Term Sheet, to be provided to Employee under separate cover. Participation and awards for future years are subject to the discretion and approval of the Board of Directors or relevant Board Committee.
Performance Unit Program. Employee will be eligible to participate in the Company’s Performance Unit Program (PUP). Participation and awards are determined solely by and are subject to the discretion and approval of the Board of Directors or relevant Board Committee.
Performance Unit Program. Employee acknowledges that Employee's participation under the Halliburton Company Performance Unit Program ("PUP") for the 2017 and 2018 PUP cycles will end as of the later of the Separation Date or the Effective Date and Employee's rights to any potential payment for either cycle shall be forfeited.