Performance Share Units definition

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

Performance Share Units means an award of Performance Shares granted to a Participant pursuant to Article 9 of the Plan.

Performance Share Units or PSUs”) by CIT Group Inc., a Delaware corporation (the “Company”), to the Participant, pursuant to the provisions of the Amended and Restated CIT Group Inc. Long-Term Incentive Plan (the “Plan”). This Award Agreement memorializes the terms and conditions as approved by the Compensation Committee of the Board (the “Committee”). All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as follows:

Examples of Performance Share Units in a sentence

• The number of Performance Share Units that vest based on the Corporation’s performance relative to the Performance Measures will be determined based on the following vesting schedule: Company performance over three- year periodPercent of units granted that will vestAbove target150%Target100%Below target50% 5.

• The payment in respect of Performance Share Units held by the Participant shall be satisfied by the issuance of Class A common shares to the Participant upon vesting.

• For greater certainty, where the Performance Multiple is greater than 100 per cent, the number of Vested Performance Share Units of a Participant will be greater than the aggregate of the number of Performance Share Units granted to the Participant and the number of Performance Share Units issuable to each such Participant in respect of any Dividend Equivalents.

• Subject to the terms of the Plan, the Committee will pay vested Performance Share Units in Shares issued from treasury or, at the sole discretion of the Committee, a cash payment equal to the value of the vested Performance Share Units at the end of the applicable Performance Period.

• Unless otherwise determined by the Board, there will be no Exercise Price for Performance Share Units.

More Definitions of Performance Share Units

Performance Share Units means notional units of measurement representing the contractual right granted to the Participant to receive shares of Class B Common Stock based on the performance of the Class B Common Stock in comparison with the performance of the common stock of the Reference Group over the Measurement Period, on the terms and conditions forth in the Certificate.

Performance Share Units is defined in Section 1.

Performance Share Units or “PSUs” means a bookkeeping entry, denominated in Shares (on a one for one basis, unless otherwise provided for in the PSU Agreement), credited to the Performance Share Unit Account of a Designated Participant in accordance with the provisions hereof;

Performance Share Units means units subject to the Award, which represent the conditional right to receive Common Shares in accordance with the Grant Notice and these Award Terms, unless and until such units become vested or are forfeited to the Company in accordance with the Grant Notice and these Award Terms.

Performance Share Units means an Award, subject to a Period of Restriction and achievement of Performance Goals, that is granted to a Participant under the Plan and provides for the right to receive a number of shares of Common Stock for each Performance Share Unit as specified in the Award Grant. Performance Share Units may be granted to Employees who are executive officers or key employees of the Corporation and its Subsidiaries.

Performance Share Units or “PSUs” have the meaning set forth in the second Recital hereof.

Performance Share Units means Performance Share Units granted to a Participant under Section 7, consisting of Performance Shares and Dexia Restricted Stock.