{"component": "clause", "props": {"groups": [{"samples": [{"hash": "3MHnuXhAOq5", "uri": "/contracts/3MHnuXhAOq5#performance-unit", "label": "2026 Inducement Equity Compensation Plan (Immunic, Inc.)", "score": 35.7474332649, "published": true}, {"hash": "cMj8Q56sWSU", "uri": "/contracts/cMj8Q56sWSU#performance-unit", "label": "2026 Omnibus Equity Incentive Plan (Bit Digital, Inc)", "score": 35.5749473572, "published": true}, {"hash": "hhFDfvnPK92", "uri": "/contracts/hhFDfvnPK92#performance-unit", "label": "2026 Omnibus Equity Incentive Plan (Ernexa Therapeutics Inc.)", "score": 35.4982872009, "published": true}], "size": 33, "snippet_links": [{"key": "initial-value", "type": "clause", "offset": [36, 49]}, {"key": "the-committee", "type": "clause", "offset": [73, 86]}, {"key": "time-of-grant", "type": "definition", "offset": [94, 107]}], "snippet": "Each Performance Unit shall have an initial value that is established by the Committee at the time of grant.", "hash": "6d6b83ef225c831337b5ce18847f977c", "id": 1}, {"samples": [{"hash": "32KxNc35dsu", "uri": "/contracts/32KxNc35dsu#performance-unit", "label": "2025 Omnibus Incentive Plan (Electrified Materials Corp / In)", "score": 34.9726219177, "published": true}, {"hash": "lqCoz514NUW", "uri": "/contracts/lqCoz514NUW#performance-unit", "label": "2025 Omnibus Incentive Plan (Electrified Materials Corp / In)", "score": 34.7727584839, "published": true}, {"hash": "3EWOKQHV8Uv", "uri": "/contracts/3EWOKQHV8Uv#performance-unit", "label": "2025 Omnibus Incentive Plan (Electrified Materials Corp / In)", "score": 34.0800819397, "published": true}], "size": 4, "snippet_links": [{"key": "to-a-participant", "type": "clause", "offset": [79, 95]}, {"key": "in-accordance-with", "type": "definition", "offset": [96, 114]}, {"key": "article-x", "type": "definition", "offset": [115, 124]}, {"key": "this-plan", "type": "definition", "offset": [128, 137]}], "snippet": "\u201cPerformance Unit\u201d means an Award designated as a Performance Unit and granted to a Participant in accordance with Article X of this Plan.", "hash": "af3bcbcc33291bd4800d693fd05614dd", "id": 2}, {"samples": [{"hash": "aaVyS8lfR3b", "uri": "/contracts/aaVyS8lfR3b#performance-unit", "label": "Performance Unit Award Agreement (Tandy Brands Accessories Inc)", "score": 19.6488704681, "published": true}], "size": 3, "snippet_links": [{"key": "the-value", "type": "clause", "offset": [0, 9]}, {"key": "single-performance", "type": "clause", "offset": [15, 33]}, {"key": "phantom-shares", "type": "clause", "offset": [122, 136]}, {"key": "common-stock-of-the-company", "type": "clause", "offset": [144, 171]}, {"key": "subject-to", "type": "definition", "offset": [173, 183]}, {"key": "in-accordance-with", "type": "definition", "offset": [195, 213]}, {"key": "section-14", "type": "definition", "offset": [214, 224]}, {"key": "award-agreement", "type": "clause", "offset": [233, 248]}, {"key": "number-of-phantom", "type": "clause", "offset": [254, 271]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [272, 294]}, {"key": "the-award", "type": "clause", "offset": [311, 320]}, {"key": "fair-market-value-of-the-common-stock", "type": "definition", "offset": [356, 393]}, {"key": "date-of-grant", "type": "definition", "offset": [416, 429]}], "snippet": "The value of a single Performance Unit shall equal $1.00. Each Performance Unit shall be comprised 50% of cash and 50% of phantom shares of the Common Stock of the Company, subject to adjustment in accordance with Section 14 of this Award Agreement. The number of phantom shares of Common Stock attributable to the Award shall be determined based upon the Fair Market Value of the Common Stock of the Company on the date of grant, which was $_____.", "hash": "490101729d00b3dbb0d468f12c18629d", "id": 3}, {"samples": [{"hash": "hWFpA2Yuk9", "uri": "/contracts/hWFpA2Yuk9#performance-unit", "label": "Performance Unit Award Agreement (Tandy Brands Accessories Inc)", "score": 19.0, "published": true}, {"hash": "7sHk3yjS8dB", "uri": "/contracts/7sHk3yjS8dB#performance-unit", "label": "Performance Unit Award Agreement (Tandy Brands Accessories Inc)", "score": 19.0, "published": true}], "size": 2, "snippet_links": [{"key": "common-stock-of-the-company", "type": "clause", "offset": [52, 79]}, {"key": "value-of-a-performance-unit", "type": "clause", "offset": [97, 124]}, {"key": "fair-market-value-of-the-shares", "type": "definition", "offset": [141, 172]}, {"key": "the-performance", "type": "clause", "offset": [215, 230]}, {"key": "date-of-grant", "type": "definition", "offset": [247, 260]}, {"key": "award-value", "type": "definition", "offset": [266, 277]}, {"key": "performance-units", "type": "definition", "offset": [285, 302]}], "snippet": "Each Performance Unit shall be payable in shares of Common Stock of the Company. On any day, the value of a Performance Unit shall equal the Fair Market Value of the shares of Common Stock of the Company underlying the Performance Unit. As of the date of grant, the Award Value of the Performance Units is zero.", "hash": "38c1853f4e8e43251a498143d3d4b139", "id": 4}, {"samples": [{"hash": "fImzbkBmYHl", "uri": "/contracts/fImzbkBmYHl#performance-unit", "label": "Performance Unit Award Agreement (Capital Trust Inc)", "score": 16.0, "published": true}], "size": 2, "snippet_links": [{"key": "unit-portion", "type": "definition", "offset": [23, 35]}, {"key": "pursuant-to-section-10", "type": "clause", "offset": [67, 89]}, {"key": "the-terms", "type": "definition", "offset": [118, 127]}, {"key": "terms-of-the-plan", "type": "clause", "offset": [186, 203]}, {"key": "the-committee", "type": "clause", "offset": [211, 224]}, {"key": "reasonably-necessary", "type": "clause", "offset": [317, 337]}, {"key": "requirements-for", "type": "clause", "offset": [392, 408]}, {"key": "based-compensation", "type": "clause", "offset": [422, 440]}, {"key": "meaning-of", "type": "definition", "offset": [453, 463]}, {"key": "the-code", "type": "clause", "offset": [485, 493]}, {"key": "tax-regulations", "type": "definition", "offset": [510, 525]}, {"key": "the-performance", "type": "clause", "offset": [539, 554]}, {"key": "to-receive", "type": "definition", "offset": [619, 629]}, {"key": "number-of-shares", "type": "clause", "offset": [661, 677]}, {"key": "to-be-determined", "type": "clause", "offset": [770, 786]}, {"key": "based-on", "type": "definition", "offset": [787, 795]}, {"key": "performance-measures", "type": "clause", "offset": [832, 852]}, {"key": "performance-units", "type": "definition", "offset": [937, 954]}, {"key": "capital-trust", "type": "definition", "offset": [961, 974]}, {"key": "amended-and-restated", "type": "clause", "offset": [981, 1001]}, {"key": "term-incentive-plan", "type": "clause", "offset": [1012, 1031]}, {"key": "value-of-shares", "type": "clause", "offset": [1138, 1153]}, {"key": "performance-period", "type": "definition", "offset": [1309, 1327]}, {"key": "measures-to", "type": "clause", "offset": [1489, 1500]}, {"key": "schedule-b", "type": "definition", "offset": [1505, 1515]}, {"key": "pricing-date", "type": "definition", "offset": [1664, 1676]}, {"key": "to-determine", "type": "definition", "offset": [1677, 1689]}, {"key": "subject-to-the", "type": "definition", "offset": [1835, 1849]}, {"key": "upon-termination-of-employment", "type": "clause", "offset": [1901, 1931]}, {"key": "closing-price", "type": "clause", "offset": [2055, 2068]}, {"key": "to-the-extent", "type": "clause", "offset": [2118, 2131]}, {"key": "on-schedule", "type": "definition", "offset": [2262, 2273]}, {"key": "the-shares", "type": "clause", "offset": [2277, 2287]}, {"key": "total-shareholder-return", "type": "clause", "offset": [2818, 2842]}, {"key": "stock-price", "type": "clause", "offset": [2859, 2870]}, {"key": "the-company-must", "type": "clause", "offset": [2916, 2932]}, {"key": "per-annum", "type": "definition", "offset": [2953, 2962]}, {"key": "with-respect-to", "type": "clause", "offset": [3253, 3268]}, {"key": "at-the-end-of", "type": "clause", "offset": [3339, 3352]}, {"key": "calendar-quarter", "type": "clause", "offset": [3358, 3374]}, {"key": "commencing-on", "type": "clause", "offset": [3403, 3416]}, {"key": "provided-that", "type": "definition", "offset": [3552, 3565]}], "snippet": "The second Performance Unit portion of this Award is being granted pursuant to Section 10 of the Plan, and shall have the terms set forth in the table below; subject, absolutely, to the terms of the Plan and to the Committee's discretion to interpret the Plan and this Award in any manner that the Committee may deem reasonably necessary or appropriate in order for this Award to satisfy the requirements for \"performance-based compensation\" within the meaning of Section 162(m)(4) of the Code, and associated tax regulations and rulings. The Performance Unit set forth in the table below provides that you may qualify to receive, subject to further vesting, a number of Shares with a value that falls within the range of values specified in the table below, such value to be determined based on the extent to which, if at all, the Performance Measures for Determining Qualification have been satisfied and the weights assigned thereto. Performance Units Award Capital Trust, Inc. Amended and Restated 2004 Long-Term Incentive Plan --------------------------------- -------------------------------------------------------------- Range in Value of Shares Threshold: $________ Target: $________ Maximum: $________ --------------------------------- -------------------------------------------------------------- Performance Period for ________, 20__ to _________, 20__ Qualification --------------------------------- -------------------------------------------------------------- Performance Measures to See Schedule B attached hereto. Determine Qualification and Value --------------------------------- -------------------------------------------------------------- Pricing Date to Determine __________, 20__ Number of Shares --------------------------------- -------------------------------------------------------------- Qualification Subject to the treatment (including, as applicable, acceleration) upon termination of employment as provided in the Plan, on ________, 20___, you may qualify to receive a number of Shares equal in value to (based on the closing price on the Pricing Date) such value that corresponds to the extent to which the above Performance Measures for Determining Qualification are satisfied and the weights assigned thereto as set forth on Schedule B. The Shares, if any, you qualify to receive will be issued as of the Pricing Date, but shall be subject to further vesting as set forth below. --------------------------------- -------------------------------------------------------------- --------------------------------- -------------------------------------------------------------- Performance Period for Further ____________, 20__ to ____________, 20__ Vesting --------------------------------- -------------------------------------------------------------- Performance Measure for The Total Shareholder Return (dividends plus stock price Determining Further Vesting appreciation) of the Company must equal or exceed __% per annum for the entire Performance Period for Further Vesting. --------------------------------- -------------------------------------------------------------- Further Vesting Subject to treatment (including, as applicable, acceleration) upon termination of employment as provided in the Plan, (a) with respect to __% of the Shares, such shares shall vest in equal _____ installments at the end of each calendar quarter during the ____-year period commencing on _____, 20__ and ending on __________, 20__ and (b) with respect to __% of the shares, 100% of such shares shall vest on ________, 20__ provided that the Performance Measure for Determining Further Vesting is satisfied. --------------------------------- --------------------------------------------------------------", "hash": "311a0d64ce640f6bc9bea539bc64c7e1", "id": 5}, {"samples": [{"hash": "6F3sPuLIloi", "uri": "/contracts/6F3sPuLIloi#performance-unit", "label": "Performance Unit Award Agreement (Tandy Brands Accessories Inc)", "score": 19.0, "published": true}], "size": 2, "snippet_links": [{"key": "common-stock-of-the-company", "type": "clause", "offset": [72, 99]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [110, 142]}, {"key": "based-on", "type": "definition", "offset": [151, 159]}, {"key": "fair-market-value-of-the-common-stock", "type": "definition", "offset": [164, 201]}, {"key": "date-of-grant", "type": "definition", "offset": [224, 237]}, {"key": "the-value", "type": "clause", "offset": [258, 267]}, {"key": "single-performance", "type": "clause", "offset": [273, 291]}], "snippet": "Each Performance Unit shall be payable 50% in cash and 50% in shares of Common Stock of the Company, with the number of shares of Common Stock payable based on the Fair Market Value of the Common Stock of the Company on the date of grant, which was $1.9201. The value of a single Performance Unit shall equal $1.00.", "hash": "43755711202aebc08d5e2fa083054ab7", "id": 6}, {"samples": [{"hash": "hmqh4Kzxdxe", "uri": "/contracts/hmqh4Kzxdxe#performance-unit", "label": "Separation Agreement (Career Education Corp)", "score": 25.1601638794, "published": true}], "size": 1, "snippet_links": [{"key": "on-march", "type": "clause", "offset": [0, 8]}, {"key": "performance-unit-award", "type": "definition", "offset": [54, 76]}, {"key": "target-value", "type": "clause", "offset": [84, 96]}, {"key": "the-company-and-the", "type": "clause", "offset": [110, 129]}, {"key": "no-forfeiture", "type": "clause", "offset": [158, 171]}, {"key": "the-performance", "type": "clause", "offset": [175, 190]}, {"key": "upon-the-termination-of-the-executive", "type": "clause", "offset": [207, 244]}, {"key": "payment-for-the", "type": "clause", "offset": [267, 282]}, {"key": "march-15", "type": "clause", "offset": [356, 364]}, {"key": "based-on", "type": "definition", "offset": [372, 380]}, {"key": "performance-of-the-company", "type": "clause", "offset": [419, 445]}, {"key": "period-ending", "type": "definition", "offset": [478, 491]}, {"key": "in-accordance-with", "type": "definition", "offset": [511, 529]}, {"key": "terms-of-the", "type": "clause", "offset": [534, 546]}, {"key": "performance-unit-agreement", "type": "definition", "offset": [558, 584]}], "snippet": "On March 4, 2013, the Company granted the Executive a Performance Unit award with a target value of $177,500. The Company and the Executive hereby agree that no forfeiture of the Performance Unit will occur upon the termination of the Executive\u2019s employment and that payment for the Performance Unit, if any, will be made in early 2016, but not later than March 15, 2016, based on the relative Total Shareholder Return performance of the Company over the three year performance period ending December 31, 2015, in accordance with the terms of the underlying Performance Unit Agreement dated March 4, 2013 between the Company and the Executive.", "hash": "1fa2d5e59f421e485ee63cf1ac4abfb0", "id": 7}, {"samples": [{"hash": "fSu2u9OoWvP", "uri": "/contracts/fSu2u9OoWvP#performance-unit", "label": "Performance Unit and Performance Share Award Agreement (Capital Trust Inc)", "score": 19.0, "published": true}], "size": 1, "snippet_links": [{"key": "the-performance", "type": "clause", "offset": [0, 15]}, {"key": "unit-portion", "type": "definition", "offset": [16, 28]}, {"key": "your-award", "type": "clause", "offset": [32, 42]}, {"key": "pursuant-to-section-10", "type": "clause", "offset": [60, 82]}, {"key": "the-terms", "type": "definition", "offset": [111, 120]}, {"key": "terms-of-the-plan", "type": "clause", "offset": [179, 196]}, {"key": "the-committee", "type": "clause", "offset": [204, 217]}, {"key": "reasonably-necessary", "type": "clause", "offset": [310, 330]}, {"key": "requirements-for", "type": "clause", "offset": [385, 401]}, {"key": "based-compensation", "type": "clause", "offset": [415, 433]}, {"key": "meaning-of", "type": "definition", "offset": [446, 456]}, {"key": "the-code", "type": "clause", "offset": [478, 486]}, {"key": "tax-regulations", "type": "definition", "offset": [503, 518]}, {"key": "to-receive", "type": "definition", "offset": [605, 615]}, {"key": "to-be-determined", "type": "clause", "offset": [704, 720]}, {"key": "based-on", "type": "definition", "offset": [721, 729]}, {"key": "performance-measures", "type": "clause", "offset": [766, 786]}, {"key": "in-accordance-with", "type": "definition", "offset": [841, 859]}, {"key": "cash-threshold", "type": "definition", "offset": [909, 923]}, {"key": "performance-period", "type": "definition", "offset": [948, 966]}, {"key": "see-schedule", "type": "definition", "offset": [988, 1000]}, {"key": "attached-hereto-as-exhibit", "type": "definition", "offset": [1003, 1029]}], "snippet": "The Performance Unit portion of your Award is being granted pursuant to Section 10 of the Plan, and shall have the terms set forth in the table below, subject, absolutely, to the terms of the Plan and to the Committee\u2019s discretion to interpret the Plan and this Award in any manner that the Committee may deem reasonably necessary or appropriate in order for this Award to satisfy the requirements for \u201cperformance-based compensation\u201d within the meaning of Section 162(m)(4) of the Code, and associated tax regulations and rulings. The Performance Unit portion of your award provides that you may qualify to receive an amount of cash that falls within the range specified in the table below, such amount to be determined based on the extent to which, if at all, the Performance Measures for Determining Qualification have been satisfied and in accordance with the weights assigned thereto. Range in Amount of Cash Threshold: $ Target: $ Maximum: $ Performance Period Performance Measures See Schedule , attached hereto as Exhibit B. Qualification", "hash": "3971ca93c8474f2af462ea1983209f77", "id": 8}, {"samples": [{"hash": "6o8BHkqlbJC", "uri": "/contracts/6o8BHkqlbJC#performance-unit", "label": "Performance Unit and Performance Share Award Agreement (Capital Trust Inc)", "score": 23.1464748383, "published": true}], "size": 1, "snippet_links": [{"key": "the-performance", "type": "clause", "offset": [0, 15]}, {"key": "unit-portion", "type": "definition", "offset": [16, 28]}, {"key": "your-award", "type": "clause", "offset": [32, 42]}, {"key": "pursuant-to-section", "type": "definition", "offset": [60, 79]}, {"key": "the-terms", "type": "definition", "offset": [113, 122]}, {"key": "terms-of-the-plan", "type": "clause", "offset": [181, 198]}, {"key": "the-committee", "type": "clause", "offset": [206, 219]}, {"key": "reasonably-necessary", "type": "clause", "offset": [312, 332]}, {"key": "requirements-for", "type": "clause", "offset": [387, 403]}, {"key": "based-compensation", "type": "clause", "offset": [417, 435]}, {"key": "meaning-of", "type": "definition", "offset": [448, 458]}, {"key": "the-code", "type": "clause", "offset": [480, 488]}, {"key": "tax-regulations", "type": "definition", "offset": [505, 520]}, {"key": "to-receive", "type": "definition", "offset": [607, 617]}, {"key": "to-be-determined", "type": "clause", "offset": [706, 722]}, {"key": "based-on", "type": "definition", "offset": [723, 731]}, {"key": "performance-period", "type": "definition", "offset": [912, 930]}, {"key": "cash-threshold", "type": "definition", "offset": [951, 965]}, {"key": "exhibit-c", "type": "definition", "offset": [1036, 1045]}, {"key": "accelerated-vesting", "type": "clause", "offset": [1117, 1136]}, {"key": "not-permitted", "type": "clause", "offset": [1137, 1150]}, {"key": "to-qualify", "type": "clause", "offset": [1159, 1169]}, {"key": "code-section", "type": "definition", "offset": [1190, 1202]}], "snippet": "The Performance Unit portion of your Award is being granted pursuant to Section 9(b) of the Plan, and shall have the terms set forth in the table below, subject, absolutely, to the terms of the Plan and to the Committee\u2019s discretion to interpret the Plan and this Award in any manner that the Committee may deem reasonably necessary or appropriate in order for this Award to satisfy the requirements for \u201cperformance-based compensation\u201d within the meaning of Section 162(m)(4) of the Code, and associated tax regulations and rulings. The Performance Unit portion of your award provides that you may qualify to receive an amount of cash that falls within the range specified in the table below, such amount to be determined based on the extent to which, if at all, the Performance Measure(s) for such Award is achieved determined by applying the Performance Formula(e) against such Performance Measure(s) for the Performance Period. Range in Amount of Cash Threshold: Target: Maximum: $ $ $ Performance Period Performance Measure(s) See Exhibit C attached hereto. Performance Formula(e) See Exhibit C attached hereto. Accelerated Vesting Not permitted (mainly to qualify for exemption under Code Section 162(m) regulations).", "hash": "c8b10a4800e77e2d978cfa6e8ca7fc7c", "id": 9}, {"samples": [{"hash": "bEZNiJBrrRB", "uri": "/contracts/bEZNiJBrrRB#performance-unit", "label": "Performance Unit Award (Ruby Tuesday Inc)", "score": 20.6563987732, "published": true}], "size": 1, "snippet_links": [], "snippet": "The aggregate amounts identified in Paragraphs C(1) and C(2) below.", "hash": "7ec30d9ee58c3755b694a988ab92ace1", "id": 10}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhlwZXJmb3JtYW5jZS11bml0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["value-performance-goals", "Value/Performance Goals"], ["performance-units-and-performance-shares", "Performance Units and Performance Shares"], ["performance-share-units-and-performance-shares", "Performance Share Units and Performance Shares"], ["definitions", "Definitions"], ["performance-shares", "Performance Shares"]], "size": 52, "children": [], "title": "Performance Unit", "id": "performance-unit", "related": [["performance-share-award", "Performance Share Award", "Performance Share Award"], ["performance-units", "Performance Units", "<strong>Performance Units</strong>"], ["performance-share-units", "Performance Share Units", "Performance Share Units"], ["performance-award", "Performance Award", "Performance Award"], ["performance-share-awards", "Performance Share Awards", "Performance Share Awards"]], "related_snippets": [], "updated": "2026-10-03T06:44:57+00:00", "also_ask": ["What key performance metrics should be defined to ensure enforceability of a Performance Unit clause?", "How can the clause be structured to align incentives and minimize disputes over achievement?", "What are common pitfalls or ambiguities in Performance Unit clauses that courts have found unenforceable?", "How do Performance Unit clauses differ across jurisdictions or industry standards?", "What negotiation levers exist to protect against manipulation or subjective assessment of performance?"], "drafting_tip": "Define the performance unit precisely to avoid ambiguity; specify measurement criteria to ensure enforceability; align units with contract objectives to promote clarity.", "explanation": "A Performance Unit clause defines a specific measurement or metric used to assess the achievement of performance goals, often in the context of incentive compensation or bonus plans. This clause typically outlines what constitutes a performance unit, such as a set financial target, sales milestone, or operational benchmark, and details how these units are awarded or calculated for eligible participants. By clearly establishing the criteria and value of performance units, the clause ensures transparency in performance-based rewards and helps align employee efforts with organizational objectives."}, "json": true, "cursor": ""}}