Common use of Vesting Date and Conditions Clause in Contracts

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] percent for the three (3) year period from January 1, [●] to December 31, [●] (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest on the Vesting Date will be determined in accordance with Section 2.2 below.

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] 2022 (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] 10 percent for the three (3) year period from January 1, [●] 2020 to December 31, [●] 2022 (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest on the Vesting Date will be determined in accordance with Section 2.2 below.

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] 8 percent for the three (3) year period from January 1, [●] to December 31, [●] (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest on the Vesting Date will be determined in accordance with Section 2.2 below.

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] 8 percent for the three (3) year period from January 1, [●] to December 31, [●] (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest vest on the Vesting Date will be determined in accordance with Section 2.2 below.

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] 2021 (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] 10 percent for the three (3) year period from January 1, [●] 2019 to December 31, [●] 2021 (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest on the Vesting Date will be determined in accordance with Section 2.2 below.

Vesting Date and Conditions. Subject to Article 5 below, some or all of the Award Units will vest and become non-forfeitable (“Vested”) on December 31, [●] 2023 (the “Vesting Date”), provided that (a) the Committee has certified that the Company has achieved a level of Average Annual Return on Invested Capital (as defined below) of at least [●] 10 percent for the three (3) year period from January 1, [●] 2021 to December 31, [●] 2023 (the “Performance Period”), and (b) the Grantee remains in the continuous employ of or service with the Company or any Subsidiary until the Vesting Date. The number of Award Units that will Vest on the Vesting Date will be determined in accordance with Section 2.2 below.. ​