Two-Year Performance Share Unit Grant Clause Samples

Two-Year Performance Share Unit Grant. The Initial Grant shall include an award of 56,165 performance share units relating to the fiscal 2012 – 2013 performance period which shall become eligible to vest based on the attainment of performance goals relating to cumulative operating income and return on invested capital subject to a total shareholder return adjustment. Such goals shall be the same as are currently in place with respect to the Company’s recent LTIP grants for the fiscal 2012- 2013 portion of the fiscal 2012-2014 performance period. The payout due with respect to the performance share units shall be determined by the Board (or Committee) after the end of fiscal 2013 based on the Company’s performance. Performance share units which are earned for such performance period shall vest with respect to 50% of such units on July 1, 2013 and 50% of such units on July 1, 2014, subject to the Executive’s continued employment with the Company to such date. The performance share units shall be paid out in an equivalent number of shares of common stock of the Company as soon as practicable following the applicable vesting date, but in no event later than the fifteenth (15th) day of the third month following the applicable vesting date, and in all other respects shall be subject to the terms and conditions of the Plan, the applicable performance share unit award agreement under which such grant is made and the other documents governing such award (except as expressly set forth in this Agreement). The performance share units shall not be subject to pro-ration for the period from the beginning of the performance period until the Effective Date.