Grant of Target Award and Form of Payout Sample Clauses

Grant of Target Award and Form of Payout. The Company hereby grants to the Grantee a target award of $ (the “Target Award”). Following the end of the calendar year, the Compensation Committee will certify performance results relative to goals and determine the actual earned Target Award, pursuant to the Performance Payout Table below. The actual earned Target Award as determined and certified by the Compensation Committee is referred to in this Agreement as the “Actual Award”. Eighty percent (80%) of the Actual Award will be paid in cash (the “Cash Payment”) as soon as practicable, but not later than March 15, 2015, and the remaining twenty percent (20%) of the Actual Award will be paid in Common Shares of the Company (the “Restricted Shares”), as soon as practicable, but not later than March 15, 2015, on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. The number of Restricted Shares earned will be determined by the closing Fair Market Value of the Common Shares on March 5, 2015. Capitalized terms that are used but not defined herein have the meanings ascribed to such terms in the Plan. The “Performance Period” shall be the period commencing on January 1, 2014, and ending on December 31, 2014.
Sample 1
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Grant of Target Award and Form of Payout. The Company hereby grants to the Grantee a target award of $ (the “Target Award”). Following the end of the calendar year, the Compensation Committee will certify performance results relative to goals and determine the earned Target Award. Eighty percent (80%) of the earned Target Award will be paid in cash (the “Cash Payment”) as soon as practicable, but not later than March 15, 2016, and the remaining twenty percent (20%) will be paid in Common Shares of the Company (the “Restricted Shares”), as soon as practicable, but not later than March 15, 2016, on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. The number of Restricted Shares earned will be determined by the Fair Market Value of the Common Shares on the date determined by the Compensation Committee following certification of the performance results. Capitalized terms that are used but not defined herein have the meanings ascribed to such terms in the Plan. The “Performance Period” shall be the period commencing on January 1, 2015, and ending on December 31, 2015.
Sample 1
Grant of Target Award and Form of Payout. The Company hereby grants to the Grantee a target award as further set forth in Statement of Award attached hereto as Exhibit A and incorporated herein by reference (the “Target Award”). Following the end of the calendar year, the Committee will certify performance results based on the results determined under the Corporate Performance Payout Table below and the level of achievement of the Grantee’s personal performance goals. The allocation of the Target Award between the Grantee’s personal goals and the Corporate Performance goals is set forth in the Statement of Award attached hereto as Exhibit A and incorporated herein by reference. Utilizing the Company’s performance results and the level of achievement of the Grantee’s personal performance goals as certified by the Committee, the Committee will determine the actual earned Target Award. The actual earned Target Award as determined and certified by the Committee is referred to in this Agreement as the “Actual Award.” Following the determination of the Actual Award, the Grantee shall receive a revised Statement of Award, setting forth the level of achievement of all goals, the amount of the Actual Award, and the applicable vesting schedule for any Restricted Shares. Eighty percent (80%) of the Actual Award will be paid in cash (the “Cash Payment”) as soon as practicable, but not later than March 15, 2017, and the remaining twenty percent (20%) of the Actual Award will be paid in Common Shares of the Company (the “Restricted Shares”), as soon as practicable, but not later than March 15, 2017, on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. The number of Restricted Shares earned will be determined by the Fair Market Value of the Common Shares on the date determined by the Committee following certification of the performance results. The “Performance Period” shall be the period commencing on January 1, 2016, and ending on December 31, 2016.
Sample 1

Related to Grant of Target Award and Form of Payout

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Grant of Performance Share Units (a) Subject to the terms and conditions of this Agreement, the Company has granted to the Employee the number of Performance Share Units specified at the beginning of this Agreement (collectively the “Performance Share Units,” and each a “Performance Share Unit.”) Each Performance Share Unit represents the right to receive a Share and dividend equivalent amounts corresponding to the Share, subject to the terms and conditions of this Agreement and the Plan.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Award Criteria 40.1 The Procuring Entity shall award the Contract to the successful tenderer whose tender has been determined to be the Lowest Evaluated Tender in accordance with procedures in Section 3: Evaluation and Qualification Criteria.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

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