Unvested Performance Units definition

Unvested Performance Units has the meaning set forth in Section 19.2.A hereof.
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Unvested Performance Units means the number of Performance Units granted to a Participant at the Target 100% rate, plus any Short-Term Dividend Equivalents attributable to such Performance Units.
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Unvested Performance Units means the number of Performance Units granted to a Participant at the Target 100% rate, plus any Short-Term Dividend Equivalents attributable to such Performance Units. 3. Administration. The Plan shall be administered by the Compensation Committee of the Company's Board of Directors. Subject to the provisions of the Plan, the Committee shall have full and final authority to: (a) designate the employees to whom Performance Units shall be granted; (b) determine the number of Performance Units to be granted to each employee; (c) select the Performance Measures applicable to each grant of Performance Units; (d) impose such limitations, restrictions and conditions upon any such Performance Units as the Committee shall deem appropriate; (e) waive in whole or in part any limitations, restrictions or conditions imposed upon any such Performance Units as the Committee shall deem appropriate; and (f) interpret the provisions of the Plan, including, but not limited to, determining vesting percentages of Performance Units. All decisions of the Committee shall be final and binding upon all parties including the Company, its stockholders and Employees. 4. Eligibility and Participation. Key employees of the Company and/or its subsidiaries are designated for participation in the Plan by the Committee. The Committee shall also designate the number of Performance Units to be granted to the Employee at the Target 100% rate. 5. Performance Units. (a) Performance Unit Defined. A Performance Unit is a right to receive a cash payment from the Company that is based upon the value of shares of Company Stock and is contingent on the Company's achievement with respect to applicable Performance Measure(s) during a three-year performance period. The Committee may establish the three-year performance periods. The Performance Units granted under this Plan will be reflected in a book account maintained by the Company for each Employee until they have become vested or have been forfeited. (b) Short-Term Dividend Equivalents The Company will increase the number of Unvested Performance Units as of any date that the Company declares a cash dividend on its shares of Common Stock by the amount of the "Short-Term Dividend Equivalents." Short-Term Dividend Equivalents shall be calculated by:
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Examples of Unvested Performance Units in a sentence

  • Upon a forfeiture of any Unvested LTIP Units or Unvested Performance Units by any Partner, gross items of income, gain, loss or deduction shall be allocated to such Partner if and to the extent required by final Regulations promulgated after the Effective Date to ensure that allocations made with respect to all unvested Partnership Interests are recognized under Code Section 704(b).

  • If any Unvested LTIP Units are forfeited, as described in Section 16.2.B, or any Unvested Performance Units are forfeited, as described in Section 17.2.B, then in each case, upon such forfeiture, the Gross Asset Value of the Partnership’s assets shall be reduced by the amount of any reduction of such Partner’s Capital Account attributable to the forfeiture of such LTIP Units or Performance Units, as applicable.

  • Short-Term Dividend Equivalents shall also be treated as Unvested Performance Units for purposes of calculating future Short-Term Dividend Equivalents.

  • Except as provided in paragraphs (d) and (e) above, any Unvested Performance Units are immediately forfeited upon the Employee's cessation of employment with the Company or a subsidiary prior to the completion of the three-year performance period.

  • Therefore, if Employee retires on September 15 of the second year in the three‑year performance period, the number of Unvested Performance Units becoming vested as a result of Employee's Retirement shall be equal to the number of Unvested Performance Units times 20/36.

  • A prorated number of the Unvested Performance Units shall become vested upon the termination of the Employee's employment with the Company or a subsidiary by reason of Retirement prior to the end of the three‑year performance period.

  • Upon a forfeiture of any Unvested LTIP Units or Unvested Performance Units by any Member, gross items of income, gain, loss or deduction shall be allocated to such Member if and to the extent required by final Regulations promulgated after the Effective Date to ensure that allocations made with respect to all unvested Interests are recognized under Code Section 704(b).

  • Unvested Performance Units shall be canceled upon an Awardees retirement, death, disability (as defined in Section 6.6), and upon termination of employment by the Awardee or the Company.

  • Short-Term Dividend Equivalents shall be treated as additional Unvested Performance Units and shall be subject to the same vesting, forfeiture, payment, termination and other terms, conditions and restrictions as the original Performance Units to which they relate.

  • The number of Unvested Performance Units becoming vested shall be determined by multiplying the number of Unvested Performance Units by a fraction, with the numerator of the fraction being the number of completed calendar months between Employee's Retirement date and the beginning of the performance period and the denominator being thirty‑six (36).


More Definitions of Unvested Performance Units

Unvested Performance Units means the Performance Units that have not vested in accordance with this Appendix I.
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Related to Unvested Performance Units

  • 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.

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

  • 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.

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

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

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

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • RSUs means restricted stock units.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

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

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • 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;

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Bonus Stock Award means an award of Bonus Stock under this Plan.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • 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.