Examples of Award Cycle in a sentence
The Participant shall vest in the RSUs only if the Participant is continuously employed by the Company or a Related Company (as defined in paragraph 13) from the date the RSUs are granted through the end of the Award Cycle, except as otherwise provided in paragraph 7 (“Early Cancellation/Accelerated Vesting of RSUs”) or as otherwise provided by the Committee.
Subject to Section 5(d), as soon as practicable after the end of the Award Cycle (but in no event later than March 15, 2015), the value of the vested PSUs (minus any withholding for taxes) shall be paid to the Participant (subject, however, to any deferral application that the Participant has made under the deferral plan (if any) then available to the Participant).
If the Participant ceases to be employed by the Company or any Subsidiary for any reason (except as may be provided in Sections 3(b) or (c)) before the last day of the Award Cycle), the value of all Performance Shares that are not then Vested shall be forfeited, without any payment whatsoever to the Participant.
A Change in Control or an involuntary termination without Cause that occurs after the end of the Award Cycle shall have no effect on whether any PSUs vest or become payable under this paragraph 7(c).
The Committee will develop the performance criteria for the second Performance Period in the Award Cycle within the time period for developing performance goals under the regulations under Code Section 162(m).