Vesting; Payment. (a) The Award shall not be vested as of the Grant Date and shall be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. After the Grant Date, provided that Participant remains continuously employed by the Company through the fifth anniversary of the Grant Date (the “Normal Vesting Date”), the Award shall become vested with respect to 100% of the Restricted Stock Units on such Normal Vesting Date. In addition, prior to the Normal Vesting Date:
Vesting; Payment. The Equivalents granted to Recipient will vest on July 8, 2018, subject to the provisions of this Award Agreement (such date is hereinafter referred to as the “Vesting/Payment Date”). Upon vesting, each vested Equivalent will convert, at that time into one share of the Company’s $.01 par value Common Stock (“Common Stock”), which will be issued to the Recipient on, or as soon as practicable after, the Vesting/Payment Date, but not later than December 31st of the year in which the Vesting/Payment Date occurs.
Vesting; Payment. Provided that such Restricted Equivalents have not been forfeited pursuant to Section 5 below, the Equivalents granted to Recipient will vest on November 6, 2016, subject to the provisions of this Award Agreement (such date is hereinafter referred to as the “Vesting/Payment Date”). Upon vesting, the Company shall transfer to the Recipient or his or her beneficiary one share of the Company’s $0.01 par value Common Stock (“Common Stock”) for each Restricted Equivalent that so vests. Such shares of Common Stock shall be issued to the Recipient or his or her beneficiary on, or as soon as practicable after, the Vesting/Payment Date, but in no event later than the last day of the calendar year in which the Vesting/Payment Date occurs, or, if later, the 15th day of the third month following the end of the month in which such Vesting/Payment Date occurs.
Vesting; Payment. Each Equivalent will vest on the date that is three (3) years from the date of its crediting and convert, at that time, or otherwise as provided herein, into one share of Common Stock which will be issued to the Recipient. If Recipient, no later than thirty (30) days from the effective date of this Award Agreement, elects in writing to defer the conversion of Equivalents into shares of Common Stock, the Equivalents will not convert into Common Stock, and shares of Common Stock will not be issued to the Recipient, until the Recipient's termination of service on the Board of Directors of the Company.
Vesting; Payment. Vesting of the Performance Units is contingent upon achievement of performance targets for the period from October 1, _____ through September 30, _____ (the “Performance Period”). Provided that such Performance Units have not been forfeited pursuant to Section 5 below, a number of Performance Units will vest on the date the Human Capital Committee of the Board of Directors of the Company (the “Committee”) certifies and approves the results for the Performance Period (the “Vesting/Payment Date”) as follows. Whether and to what extent the Target Performance Units shall vest will be determined based on the Company’s Adjusted Cumulative Earnings Per Share (“EPS”) and the Company’s total shareholder return (“TSR”) relative to the TSR of a Peer Group (as defined below) (“Relative TSR”) during the Performance Period. Threshold, target, and stretch performance during the Performance Period are set forth in the tables below: Metric Adjusted Cumulative Earnings Per Share (50%) Performance Level Threshold Target Stretch Goal $ $ $ Performance Level Relative Three-Year TSR Percentile Rank (50%) Threshold 25th Target 50th Stretch 75th Upon attainment of “threshold” performance for the Performance Period in either EPS or Relative TSR, 25% of the Target Performance Units will vest, with 50% of such Target Performance Units vesting upon attainment of “threshold” performance for both EPS and Relative TSR. Upon attainment of “target” performance for the Performance Period in either EPS or Relative TSR, 50% of the Target Performance Units will vest, with 100% of such Target Performance Units vesting upon attainment of “target” performance for both EPS and Relative TSR. Upon attainment of “stretch” performance for the Performance Period in either EPS or Relative TSR, 100% of the Target Performance Units will vest, with 200% of such Target Performance Units vesting upon attainment of “stretch” performance for both EPS and Relative TSR. In the event either EPS or Relative TSR performance is between threshold and target or target and stretch performance for a Performance Period, the awards will proportionally vest between 25% and 50% or 50% and 100% proportionally, based upon linear interpolation with increases at 1/10th of 1% increments between each percentage. No payment under this performance goal will be made for Company performance below threshold. In the event the Company has a negative Relative TSR performance for the Performance Period, the Target Performance Units shall...
Vesting; Payment. Vesting of the Performance Equivalents is contingent upon achievement of performance targets with respect to the Company’s CAGR for the period from September 30, 2009 through September 30, 2012 (the “Measurement Period”). As indicated in the following chart, a number of Equivalents equal to 12.5% of the total Performance Equivalents granted, as set forth in Paragraph 1 above, will vest on the date that the Company publicly releases earnings results for its 2012 fiscal year (the “Vesting/Payment Date”) only if 5% CAGR is achieved for the Measurement Period, increasing proportionately, in 1/10th of one percent increments, up to 100% of the total Performance Equivalents granted if 12% or greater CAGR is achieved for that period. By way of example, the following percentages will vest at the specific CAGR targets noted below. Fractional Equivalents vesting will be rounded up to the nearest whole number.
Vesting; Payment. 3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the Restricted Share Units will vest in accordance with the following schedule (each, a “Vesting Date”): Vesting Date Restricted Share Units [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE]
Vesting; Payment. Except as otherwise provided in this Section, the Executive must remain continuously employed by the Company or one of its subsidiaries at all times during the Performance Period to earn any Performance Shares under this Award Agreement.
Vesting; Payment. Each Equivalent will vest on the date that is three (3) years from the date of its crediting and convert, at that time, or otherwise as provided herein, into one share of Common Stock which will be issued to the Recipient. If Recipient, no later than thirty (30) days from the effective date of this Award Agreement, elects in writing to defer the conversion of Equivalents into shares of Common Stock, the Equivalents will not convert into Common Stock, and shares of Common Stock will not be issued to the Recipient, until the Recipient's retirement or other termination of employment with the Company. Notwithstanding the above, if, at the time of vesting, the payment to the Recipient would not be deductible compensation for the Company because of the Recipient's status as one of the five (5) most highly compensated officers of the Company, the Equivalents will not be converted into shares of Common Stock, and payment will not be made to the Recipient, until such time as the payment would be deductible compensation.
Vesting; Payment. Twenty-five percent of the Equivalents granted to Recipient will vest on October 11, 2008 (the “Anniversary Date”), an additional twenty-five percent will vest on the date that the Company publicly releases earnings results for its 2008 fiscal year (“the Announcement Date”) only if the Company’s CAGR, as defined below, for the period from September 30, 2005 through September 30, 2008 (the “Measurement Period”), equals or exceeds 10%, and the remaining fifty percent will vest in its entirety on the Announcement Date only if the Company achieves CAGR for the Measurement Period at or above 15%, with smaller percentages of that remaining fifty percent vesting at each of the milestones indicated: CAGR % Vesting 11% 20% 12% 40% 13% 60% 14% 80% 15% 100% Upon vesting, as described above, each Equivalent may be transferred to any other Fund then-offered by the Plan; distribution of the value of the Equivalents, and any investment performance thereon, however, will not be made until the Recipient’s retirement or other termination of employment with the Company, and then only in accordance with the terms of the Plan. Any Equivalents which fail to vest as of the Announcement Date will be forfeited and the Recipient will have no further rights with respect thereto.
