Performance Units Granted Clause Samples
The 'Performance Units Granted' clause defines the allocation of performance-based incentive units to an individual, typically as part of an employee compensation or incentive plan. This clause specifies the number of units awarded, the conditions under which they are granted, and may outline the performance metrics or targets that must be met for the units to vest or become payable. By clearly stating the terms of the grant, this clause ensures transparency in how performance incentives are awarded and helps align employee objectives with organizational goals.
Performance Units Granted. Subject to the terms of the Plan, the Company hereby grants to <<Proper Name>> (the “Grantee”) a target number of Performance Units equal to <<Shares>> (the “Target Performance Units”) on February 11, 2015 (the “Grant Date”), payment of which depends on the Company's performance as set forth in this Agreement and in the matrix on Addendum A as approved by the Human Resources Committee (the “Committee”). In accordance with the terms of Section 10(b) of the Plan, the Performance Units evidenced by this Agreement are intended to be “Performance Compensation Awards” constituting “qualified performance-based compensation” under Section 162m of the Internal Revenue Code of 1986, as amended.
Performance Units Granted. Subject to the terms of the Plan, the Company hereby grants to <<Proper Name>> (the “Grantee”) a target number of Performance Units equal to <<Shares>> (the “Target Performance Units”) on February 16, 2023 (the “Grant Date”), payment of which depends on the Company's performance as set forth in this Agreement and in the matrix on Addendum A as approved by the Human Resources Committee (the “Committee”).
Performance Units Granted. The Committee hereby grants «Units_Granted» Performance Units to «Grantee» (the "Participant").
Performance Units Granted. Performance Units granted to (the “Participant”).
Performance Units Granted. [number of units] granted to [name of participant] (the “Participant”)
Performance Units Granted. «Units_Granted» Performance Units granted to «Grantee» (the “Participant”).