Examples of Performance Restricted Stock Award in a sentence
During the Restricted Period the shares of Common Stock underlying a Performance Restricted Stock Award will be held by the Company.
In the event of a stock split, a stock dividend or a similar change in the Common Stock, the number of shares of Restricted Stock subject to a Performance Restricted Stock Award that remain subject to forfeiture will be adjusted accordingly.
A Performance Restricted Stock Award does not give a Holder the right to continue in service with the Company in any capacity.
All shares subject to the Performance Restricted Stock Award will be forfeited and the underlying Restricted Stock will immediately revert to the Company.
There is no exercise price or other payment required in exchange for a Performance Restricted Stock Award.
For purposes of a Performance Restricted Stock Award, service as an employee does not automatically terminate with a leave of absence.
The Award Holder or such Holder’s estate, as applicable, will be entitled to receive the percentage of a Performance Restricted Stock Award determined at the end of the applicable Performance Period as if such Award Holder were still employed at the end of the applicable Performance Period.
EXHIBIT A Form of Non-Disclosure Agreement [Insert Date] Devon Energy Corporation 333 West Sheridan Avenue Oklahoma City, OK 73102-5010 Re: Non-Disclosure Agreement Ladies and Gentlemen: This letter agreement is entered between Devon Energy Corporation (together with its subsidiaries and affiliates, the “Company”) and the undersigned (the “Participant”) in connection with that certain Performance Restricted Stock Award Agreement (the “Agreement”) dated , 20 between the Company and the Participant.
Very truly yours, [NAME] The foregoing Performance Restricted Stock Award Agreement is hereby accepted: COMFORT SYSTEMS USA, INC.
The Award Holder will be entitled to receive the percentage of a Performance Restricted Stock Award determined at the end of the applicable Performance Period multiplied by a fraction, the numerator of which equals the number of days during such Performance Period that such Award Holder was actively employed by the Company, and the denominator of which equals the total days in the applicable Performance Period.