Common use of TSR Award Clause in Contracts

TSR Award. In accordance with, and subject to, the terms and conditions of the Plan, the Company hereby grants to Employee ___________ restricted stock units (“TSR Target Share Amount”) payable in shares of the Company’s common stock, par value $0.10 per share (“Common Stock”) for the period commencing as of January 1, 20__ and ending December 31, 20__ (“Performance Period”). Issuance and payment of the award in the form of shares of Common Stock of the Company (the “TSR Performance Shares”) is conditioned and dependent upon Employee’s continued employment during the Performance Period and the achievement of performance goals reflected in the Company’s TSR relative to the TSR of the Peer Group Companies (as hereinafter defined) more fully described in Section 2 hereof. If the Company issues or otherwise delivers TSR Performance Shares to Employee, the Company shall also pay to Employee the amount of cash determined under Section 3 (the “TSR Dividend Equivalent Cash Award”).

Appears in 2 contracts

Samples: TSR Award Agreement (Covanta Holding Corp), TSR Award Agreement (Covanta Holding Corp)

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TSR Award. In accordance with, and subject to, the terms and conditions of the Plan, the Company hereby grants to Employee ___________ restricted stock units (“TSR Target Share Amount”) payable in shares of the Company’s 's common stock, par value $0.10 per share (“Common Stock”) for the period commencing as of January 1, 20__ 2013 and ending December 31, 20__ 2015 (“Performance Period”). Issuance and payment of the award in the form of shares of Common Stock of the Company (the “TSR Performance Shares”) is conditioned and dependent upon Employee’s 's continued employment during the Performance Period and the achievement of performance goals reflected in the Company’s 's TSR relative to the TSR of the Peer Group Companies (as hereinafter defined) more fully described in Section 2 hereof. If the Company issues or otherwise delivers TSR Performance Shares to Employee, the Company shall also pay to Employee the amount of cash determined under Section 3 (the “TSR Dividend Equivalent Cash Award”).

Appears in 1 contract

Samples: TSR Award Agreement (Covanta Holding Corp)

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TSR Award. In accordance with, and subject to, the terms and conditions of the Plan, the Company hereby grants to Employee ___________ performance restricted stock units (the TSR Target Share AmountPRSUs”) payable in shares of the Company’s common stock, par value $0.10 per share (“Common Stock”) ), for the period commencing as of January 1, 20__ and ending December 31, 20__ (the “Performance Period”). Issuance and payment of the award in the form of shares of Common Stock of the Company (the “TSR Performance Shares”) is conditioned and dependent upon Employee’s continued employment during the Performance Period and the achievement of performance goals reflected in the Company’s TSR relative to the TSR of the Peer Group Companies (as hereinafter defined) more fully described in Section 2 hereofExhibit A hereto. If the Company issues or otherwise delivers TSR Performance Shares to Employee, the Company shall also pay to Employee the amount of cash determined under Section 3 (the “TSR Dividend Equivalent Cash Award”).

Appears in 1 contract

Samples: TSR Award Agreement (Covanta Holding Corp)

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