Annual PSU Award Sample Clauses

Annual PSU Award. Subject to the Committee’s approval at the meeting in fiscal year 2017 at which the Committee awards RSUs and performance share units (“PSUs”) to executive officers, Executive will be awarded performance share units with a value as of the grant date of $875,000 (the “Annual PSU Award”). Subject to continued employment, the Annual PSU Award will be earned and vest in accordance with the following schedule: The PSUs will be earned based upon the achievement of FY17 measurement targets established in good faith by the Committee similar to the goals applicable to other executive officers of the Company. Executive will have the opportunity to discuss such performance goals with the Committee prior to such goals being established. When the PSUs are earned, the PSUs will convert to RSUs, with one-third of the RSUs vesting on April 1, 2018 and the remainder vesting every six months over the next two years. The PSU Award will otherwise be subject to the Company’s then standard terms and conditions for executive RSU awards, except as otherwise provided in this Agreement or in the XXXX.
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Annual PSU Award. Commencing with the 2024 calendar year, and in lieu of an annual bonus, in the first quarter of each calendar year of your employment with the Company the Committee shall approve the grant of performance-based RSUs (“PSUs”) with a dollar-denominated target value equal to $800,000 (the “Annual PSU Award”). The PSUs subject to each Annual PSU Award (i) will be earned with respect to 0%—200% of the target number of PSUs based on the achievement of the same annual performance goals that apply to the Company’s annual cash bonus program for its senior executives with respect to the calendar year in which the PSUs are granted, and (ii) will vest subject to your continued service through the date on which cash bonuses pursuant to such program are paid to the other senior executives. The target value of the Annual PSU Award shall be reviewed annually by the Committee and may be increased or decreased from time to time by the Committee in its sole discretion.
Annual PSU Award. (i) You shall be eligible to participate in Company’s 2020 Omnibus Incentive Plan (as may be amended from time to time, the “Plan”), under which you shall receive an annual Award of Performance Shares (as such terms are defined therein) (“PSUs”) on a date selected by the Administrator (as defined in the Plan) which is expected to be in January of each year of your employment with Company, so long as the common stock of Company is publicly traded, with the first such grant to be made in January 2023. The aggregate annual pre-tax, grant date target value of PSUs granted to you in each such fiscal year shall be $10,000,000 (with the award of PSUs granted for any partial fiscal year of employment with Company to be prorated based on the length of your employment with Company during such fiscal year, provided the amount of your award of PSUs for the 2023 fiscal year shall be prorated based on 10.5 out of 12 months of service), with the number of shares of Company’s Class A common stock covered by such Awards determined by the average closing share price of Company’s Class A Common Stock for the twenty (20) trading days preceding the grant date selected by the Administrator.

Related to Annual PSU Award

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

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