Earned Units definition

Earned Units means, with respect to each Performance Period, the number of Units (rounded up to the nearest whole Unit), if any (not to exceed the Maximum Number of Units for such Performance Period) shall be equal to the product of (i) the Target Number of Units for such Performance Period multiplied by (ii) the Relative TSR Multiplier; provided, however, that if the Company’s TSR for the Performance Period is a negative number, then the number of Earned Units shall not exceed 100% of the Target Number of Units.
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Earned Units means the number of Units (rounded up to the nearest whole Unit), if any (not to exceed the Maximum Number of Units) shall be equal to the product of (i) the Target Number of Units multiplied by (ii) the Performance Multiplier. If the Threshold Goal is not attained during the Performance Period, no Units are eligible to become Earned Units or Vested Units.
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Earned Units means, collectively, the Performance Earned Units and the Dividend Earned Units.
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Examples of Earned Units in a sentence

  • Notwithstanding Section 5(a) of this Agreement, in the event of a Qualifying Termination during the 24-month period immediately following a Change in Control, subject to the Participant’s execution and non-revocation of the Company’s standard form of release of claims, any unvested Time Vesting LTIP Units, Earned Units, and Change in Control Earned Units shall become vested as of the Termination Date.

  • Any Performance Vesting LTIP Units which become Earned Units pursuant to this Section 5(d) shall become vested in accordance with Section 5(d)(ii).

  • The number of Performance Units that become Earned Units is determined based on the level of achievement during the Performance Period based on the TSR Percentile Ranking.

  • In addition, all determinations with respect to the calculation of the TSR Modifier Factor shall be made by the Committee in its sole discretion and the Committee shall certify in writing the final calculation of the TSR Modifier Factor prior to determining the number of Unmodified Earned LTIP Units that become Earned Units.

  • The number of Performance Vesting LTIP Units in each tranche that become Earned Units shall be based on the achievement of the Performance Conditions set forth below applicable to such tranche and application of the TSR Modifier Factor.

  • Following the last day of the Performance Period, the Committee shall calculate the Modifier TSR for the Performance Period to determine the percentage, if any, by which the number of Earned Units will be modified based on Modifier TSR for the Performance Period (such percentage, the “TSR Modifier Factor”).

  • In the event of a Change in Control, in connection with which the successor to the Company fails to assume, convert or replace the LTIP Units, the Time Vesting LTIP Units, Earned Units and the Change in Control Earned Units, to the extent not assumed, will become vested as of immediately prior to the Change in Control.

  • Any Performance Vesting LTIP Units which become Change in Control Earned Units shall become vested as to 50% of such Change in Control Earned Units as of the date of the Change in Control, and as to the remaining 50% of the Change in Control Earned Units on the first anniversary of the date of the Change in Control.

  • Any LTIP Units that become Earned Units following the Determination Date based on the prorated LTIP Units shall become fully vested on the Determination Date.

  • Any Performance Vesting LTIP Units that become Earned Units shall become vested on the Determination Date for the Performance Period.


More Definitions of Earned Units

Earned Units means, with respect to each 2020 Company Performance Award, the number of performance-based restricted stock units or the number of performance-based phantom stock units, as applicable, earned under the terms of the applicable award agreement, but with the applicable total shareholder return metric determined using a per share price equal to the Merger Consideration and other performance-based metrics determined based on actual performance through the end of the performance period applicable to such 2020 Company Performance Award.
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Earned Units means the number of units with respect to which the financial performance targets set forth on Schedule A have been met and are therefore eligible for vesting upon a Vesting Event.
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Earned Units. Subject to Section 9.1 of the Award Agreement, the number of Earned Units (rounded to the nearest whole Unit), if any (not to exceed the Maximum Number of Units) for the Performance Period, is determined following completion of the Performance Period and shall equal the product of (a) the Target Number of Units and (b) the sum (the “Combined Performance Multiplier”) of (i) the 3-Year Revenue CAGR Weighted Multiplier and (ii) the Year 2 Non-GAAP Operating Income Margin Weighted Multiplier and (iii) the Year 3 Non-GAAP Operating Income Margin Weighted Multiplier, all as defined in Appendix A. ​ ​ ​ ​
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Earned Units means the number of Units (rounded up to the nearest whole Unit), if any (not to exceed the Maximum Number of Units), equal to the product of (i) the Target Number of Units multiplied by (ii) the Relative TSR Multiplier; provided, however, that if the fair market value of the Earned Units, determined by multiplying the number of Earned Units by the Fair Market Value on the day immediately prior to the Settlement Date (the “Delivered Value”), is greater than seven (7) times the fair market value of the target award on date of grant, determined by multiplying the target number of units by the Fair Market Value on the Grant Date (the “Cap”), the number of Earned Units shall be reduced to the whole number of Earned Units such that the Delivered Value is as close as possible to, but does not exceed, the Cap and the Participant shall have no right to receive any shares of Stock that relate to such required reduction in the Earned Units.
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Earned Units. The number of Earned Units, if any (not to exceed the Maximum Number of Units), shall equal the product of (i) the Target Number of Units and (ii) the Relative Return Factor determined for the Performance Period, as illustrated by Appendix A.
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Related to Earned Units

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • RSUs means restricted stock units.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Redeemed Units has the meaning set forth in Section 11.01(a).

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).