Common use of Vesting of Shares Clause in Contracts

Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i) or unless earlier vested in accordance with Section 5(b)(ii), Section 6(b), Section 6(c) or Section 6(d), the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 4)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 7 contracts

Samples: Performance Award Agreement for Officers and Director Employees (Centerpoint Energy Resources Corp), Award Agreement (Centerpoint Energy Inc), Performance Award Agreement for Officers and Director Employees (Centerpoint Energy Resources Corp)

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Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i) or unless earlier vested in accordance with Section 5(b)(ii), Section 6(b), Section 6(c) or Section 6(d)6, the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 4)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 3 contracts

Samples: Qualified Performance Award Agreement (Centerpoint Energy Inc), Centerpoint Energy Inc, Centerpoint Energy Inc

Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i) or unless earlier vested in accordance with Section 5(b)(ii5(b)(iii), Section 6(b), Section 6(c) or Section 6(d6(c), the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 4)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 2 contracts

Samples: Award Agreement (Centerpoint Energy Inc), Award Agreement (Centerpoint Energy Inc)

Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i) or unless earlier vested in accordance with Section 5(b)(ii), Section 6(b), Section 6(c) or Section 6(d6(c), the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 4)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 2 contracts

Samples: Performance Award Agreement for Officers and Director Employees (Centerpoint Energy Inc), Performance Award Agreement for Officers and Director Employees (Centerpoint Energy Inc)

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Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i6(b)(i) or unless earlier vested in accordance with Section 5(b)(ii), Section 6(b), Section 6(c6(b)(iii) or Section 6(d)7, the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 45)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 5 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 1 contract

Samples: Qualified Performance Award Agreement (Centerpoint Energy Inc)

Vesting of Shares. (a) Unless earlier forfeited in accordance with Section 5(b)(i) or unless earlier vested in accordance with Section 5(b)(ii), Section 6(b), Section 6(c5(b)(iii) or Section 6(d)6, the Participant’s right to receive shares pursuant to this Award Agreement, if any, shall vest on the last day of the Performance Cycle (with the number of shares, if any, based on the Committee’s determination that each Performance Goal has been met (as provided in Section 4)). As soon as administratively practicable, but in no event later than 70 days, after the close of the Performance Cycle, the Committee shall notify the Participant as required by Section 4 of the level at which the Performance Goals established for the Performance Cycle have been achieved.

Appears in 1 contract

Samples: Qualified Performance Award Agreement (Centerpoint Energy Inc)

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