Definition of Performance Unit Awards


Performance Unit Awards means cash incentives subject to the satisfaction of long-term Performance Criteria and granted pursuant to Section 10 below.

Examples of Performance Unit Awards in a sentence

The Plan Administrator shall have the discretionary authority to make Performance Unit Awards in accordance with the terms of this Article Four.
The Committee may, in its discretion, grant Performance Unit Awards to such eligible persons as may be selected by the Committee.
Subject to the terms and provisions of the Plan, the Committee, at any time, and from time to time, may grant Performance Stock Awards and Performance Unit Awards under the Plan to eligible persons in such amounts and upon such terms as the Committee shall determine.
Performance Unit Awards shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable.
At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to Performance Unit Awards, including, but not limited to, rules pertaining to the effect of termination of employment, Director status or Consultant status prior to expiration of the applicable performance period.