Definition of 162(m) Performance-Based Award


162(m) Performance-Based Award means an Award intended to qualify as qualified performance-based compensation under Section 162(m) of the Code and the regulations thereunder.

Examples of 162(m) Performance-Based Award in a sentence

If the 162(m) Performance Goals are met or exceeded, the Committee shall certify that fact in writing and certify the number of shares earned under the terms of the 162(m) Performance-Based Award.
The Committee may establish other restrictions to payment under a 162(m) Performance-Based Award, such as a continued employment requirement, in addition to satisfaction of the 162(m) Performance Goals.
If the 162(m) Performance Goals are not met, no shares shall be earned under the 162(m) Performance-Based Award.
Notwithstanding any provision herein to the contrary, no 162(m) Performance-Based Award will vest in respect of a period in which performance fails to attain or exceed the minimum level for any of the performance standards.
On or before the Performance Goals Date as to each applicable Performance Period, the Committee shall establish a written schedule of the amount of Shares subject to the 162(m) Performance-Based Award that will vest if the performance standards are satisfied.