Performance Stock. Subject to the terms of the Plan, the Committee shall designate the participants to whom long-term performance stock (“Performance Stock”) is to be awarded and determine the number of shares, the length of the performance period and the other terms and conditions of each such award. Each award of Performance Stock shall entitle the participant to a payment in the form of shares of common stock upon the attainment of performance goals and other terms and conditions specified by the Committee. Notwithstanding satisfaction of any performance goals, the number of shares issued under a Performance Stock award may be adjusted by the Committee on the basis of such further consideration as the Committee in its sole discretion shall determine. The Committee may, in its discretion, make a cash payment equal to the fair market value of shares of common stock otherwise required to be issued to a participant pursuant to a Performance Stock award.
Performance Stock. “Performance Stock” shall mean up to _______ Shares that will be issued to the Participant under this Award Agreement if the Performance Goals are met during the Performance Period and the vesting conditions set forth herein are satisfied.
Performance Stock. Performance Stock" shall mean 100,000 Shares that will be issued to the Participant under this Award Agreement if the Performance Goals or such other criteria described hereunder are met during the Performance Period.
Performance Stock. The term "Performance Stock" shall have the meaning ascribed to it in Section 10 of the Plan.
Performance Stock. 10.1. Subject to the terms of this Section 10, an Award of Performance Stock provides for the distribution of Stock to a Participant upon the achievement of performance objectives, which may include Performance Goals, established by the Committee.
Performance Stock. The Performance Stock will be subject to a time-based vesting requirement (the “Time-Based Vesting Requirement”) and a performance-based vesting requirement (the “Performance-Based Vesting Requirement”) as set forth on this Schedule 1. To the extent that the Performance-Based Vesting Requirement is satisfied prior to the termination of Executive’s Continuous Service, the Performance Stock will vest without regard to the Time-Based Vesting Requirement. However, the Performance Stock will not vest unless and until the Performance-Based Vesting Requirement has been satisfied, even if the Time-Based Vesting Requirement has been satisfied.
Performance Stock. The compensation to be awarded under this Agreement will be in the form of grants of "Performance Stock," which will be credited to a "Performance Stock Account" to be maintained for Employee's benefit. The Performance Stock Account will be maintained solely for accounting purposes and will neither require nor permit a segregation of any Company assets. Performance stock may be issued in whole and/or fractional shares. Each share of Performance Stock will be deemed to be equivalent in value to one share of Company's common stock as herein specified. An award of Performance Stock under this Agreement constitutes a potential right to receive payment and does not confer any dividend rights, voting rights or any other rights of a shareholder with respect to Company common stock.
Performance Stock. On January 3, 2006, and provided that Executive is an employee of the Company at that time, the Company shall grant to Executive an Award of 100,000 shares of the Company's common stock subject to certain restrictions and forfeiture (the "Performance Stock"), which shall be contingent upon attainment of certain performance goals (the "Performance Goals") pursuant to the Company's 2003 Equity Incentive Plan and the terms and conditions set forth in the award agreement attached as Exhibit A hereto (the "Performance Stock Award Agreement"), which shall include the specific Performance Goals. In the event of any inconsistency between the terms of this Agreement and the Performance Stock Award Agreement, the Performance Stock Award Agreement shall govern. Subject to attainment of the Performance Goals, 100,000 shares of Performance Stock shall be issued on January 3, 2009; provided, however, that notwithstanding the foregoing, all of the Performance Stock shall be issued on a Change in Control, Executive's termination without Cause, for Good Reason, Disability, or death. Until issued, the Performance Stock shall not be transferable and shall be subject to forfeiture.
Performance Stock. Performance Stock" shall mean 10,000 Shares that will be issued to the Participant under this Award Agreement if the Performance Goals or such other criteria described hereunder are met during the Performance Period.
Performance Stock. Bxxxxxxxxx hereby acknowledges and agrees that, in accordance with the Performance Stock Agreement, as a result of the termination of her employment with the Company prior to the end of the performance period for the Performance Stock, her right to receive any shares represented by the Performance Stock shall terminate as of the Termination Date and all of her right, title and interest in the Performance Stock shall thereupon be forfeited.
