Full Performance Period definition
Examples of Full Performance Period in a sentence
Except as provided in Section 3(a)(Death or Disability) and 3(d)(Change in Control) above, any Performance Award under this Agreement shall be paid in a cash lump sum as soon as practicable following the end of the Full Performance Period for which the Performance Award is payable, but no later than December 31st following the end of the Full Performance Period.
Instead, upon Employee’s death or Disability during the Full Performance Period, Employee will immediately earn and become vested in the number of Performance Share Units the Employee would have otherwise earned if 100% of the Target Performance Goal had been achieved at the end of the Full Performance Period, with no adjustment under Section 2(b) above.
The number of Performance Share Units earned shall be paid in Shares in February of the year after the Full Performance Period as soon as administratively practicable after the Committee has approved and certified the number of Performance Share Units that have been earned hereunder.
For purposes of this Section 3.3(d) the Acceleration Performance Period shall be the period commencing on the first day of the Full Performance Period and ending on the Triggering Event.
Except as otherwise provided in the Plan and except as otherwise provided in this Agreement, Employee must be an employee of the Corporation or any of its direct and indirect subsidiaries (the “ManpowerGroup”) continuously from the date of this Award until the last day of the Full Performance Period in order for Employee to receive any Shares with respect to any Performance Share units he or she may earn hereunder.
As further provided on Exhibit A, the Participating Officer may earn up to twenty five percent (25%) of the Target Award for each calendar year during the Full Performance Period as defined below.
The Committee may negatively or positively adjust the number of Performance Share Units calculated in accordance with Section 2(a), above, by up to thirty percent (30%), based on the Committee’s determination, in its sole discretion, of the Corporation’s achievement of certain Key Performance Indicators during the Full Performance Period attached hereto as Exhibit A (the “KPIs”).
The Committee shall analyze the level of achievement with respect to the KPIs periodically over the Full Performance Period and determine, within its sole discretion, whether and to what extent any adjustment shall be made in accordance with this Section 2(b).
In the event of Employee’s Regular Retirement during the Full Performance Period, Employee shall earn and become vested in a prorated number of Performance Share Units.