Units Earned Clause Samples
The "Units Earned" clause defines how and when a party accrues credit or recognition for completed work, services, or milestones under an agreement. Typically, this clause outlines the criteria for earning units, such as completion of specific tasks, delivery of goods, or achievement of performance benchmarks, and may specify the timing or documentation required for units to be officially recognized. Its core practical function is to provide a clear and objective basis for measuring progress and determining compensation or advancement, thereby reducing disputes and ensuring both parties understand when obligations have been met.
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Units Earned. At the end of the performance period indicated in the Award Notice, the number of Units earned by the Participant shall be determined, in the sole discretion of the Committee, as set forth in the Summary of Terms and Conditions delivered to the Participant.
Units Earned. Except as otherwise provided in Paragraph 3 below, the Incentive Units granted hereunder shall be earned as follows (with such Units being earned under each Tranche only upon the first occurrence of the achievement of the relevant closing price threshold):
Tranche A: For each Incentive Unit granted, a Unit is earned if trading in the Units on the Nasdaq Global Market or such other national securities exchange on which the Units are then trading closes at greater than $20 per Unit for three consecutive days; and
Tranche B: For each Incentive Unit granted, an additional Unit is earned if trading in the Units on the Nasdaq Global Market or such other national securities exchange on which the Units are then trading closes at greater than $30 per Unit for three consecutive days; and
Tranche C: For each Incentive Unit granted, an additional Unit is earned if trading in the Units on the Nasdaq Global Market or such other national securities exchange on which the Units are then trading closes at greater than $40 per Unit for three consecutive days.
Units Earned. At the end of the performance period indicated above or in any Award Notice, the Participant shall earn the number of Units indicated above or in any Award Notice to the extent the Performance Goals set forth above or in any Award Notice or Summary of Terms and Conditions delivered to the Participant.
Units Earned. The number of Units earned pursuant to this Grant Agreement is a function of the extent to which the corresponding Performance Goals described in the table below are achieved for each applicable goal. Maximum $ 1,631 $ 172 200 % 15% Above Target $ 1,563 $ 164 150 % 10% Above Target $ 1,495 $ 157 125 % Target $ 1,359 $ 143 100 % Threshold $ 1,087 $ 114 50 % Below Threshold <$ 1,087 <$ 114 0