Overview of Performance Units Contract Clauses (9)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Overview of Performance Units clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Overview of Performance Units. (a) Performance Units Generally. Each Performance Unit represents a contractual right to receive one share of Common Stock, subject to the terms and conditions of this Agreement; provided that, based on the achievement of the performance objective outlined in Section 2 hereof (the "Performance Objective"), the number of shares of Common Stock that may be deliverable hereunder in respect of the Performance Units may range from 0% to 300% of the number of Performance Units stated in the preamble t...o this Agreement (such stated number of Performance Units hereafter called the "Initial Performance Units"). Your right to receive Common Stock in respect of Performance Units is generally contingent, in whole or in part, upon (i) the achievement of the Performance Objective and (ii) except as provided in Section 4(a) or Section 5 hereof, your continued employment with the Company through the end of the Performance Period. (b) Dividend Equivalents. With respect to each outstanding Performance Unit, the Company shall credit a book entry account with an amount equal to the amount of any cash dividend paid during the Performance Period on one share of Common Stock. The amount credited to such book entry account shall be payable to you at the same time or times, and subject to the same terms and conditions as are applicable to, your Performance Units; provided that, if more than the Initial Performance Units shall become payable in accordance with this Agreement, then the maximum amount payable in respect of such dividend equivalents shall be the amount credited to your book entry account. Dividends and distributions payable on Common Stock other than in cash shall have a value equal to the amount of such dividends reported by the issuer to its shareholders for purposes of Federal income taxation and will be addressed in accordance with Section 9 hereof. View More Arrow
Found in Concho Resources contract
Overview of Performance Units. (a) Performance Units Generally. Each Performance Unit represents a contractual an unfunded, unsecured right to receive one share of Common Stock, common stock, par value $0.01, of the Company ("Stock"), subject to the terms and conditions of this Agreement; provided provided, that, based on the relative achievement of the performance objective outlined in Section 2 hereof (the "Performance Objective"), against each Performance Objective (as defined below), the number of shares of Common Stock t...hat may be deliverable hereunder in respect of the Performance Units may range from 0% [●]% to 300% [●]% of the number of Performance Units stated in the preamble to Section 1 of this Agreement (such stated (the number of Performance Units hereafter called stated in Section 1 of this Agreement, the "Initial Performance Units"). Your Employee's right to receive Common Stock in respect of Performance Units is generally contingent, in whole or in part, upon (i) the achievement of the Performance Objective performance objective outlined in Section 4 below (the "Performance Objective") and (ii) except as provided in Section 4(a) or Section 5 hereof, your 6, Employee's continued employment with the Company or one of its Subsidiaries through the end of the Performance Period. (b) Dividend Equivalents. With respect to each outstanding Performance Unit, the Company shall credit a book entry account with an amount equal to the amount of any ordinary cash dividend declared and paid during the Performance Period on one share of Common Stock. The amount credited to such book entry account shall be payable to you Employee at the same time or times, and subject to the same terms and conditions as are applicable to, your Employee's Performance Units; provided provided, that, if more than the Initial Performance Units shall become payable in accordance with this Agreement, then the maximum amount payable in respect of such dividend equivalents shall be the amount credited to your Employee's book entry account. Dividends and distributions payable on Common Stock other than in cash shall have a value equal to the amount of such dividends reported by the issuer to its shareholders for purposes of Federal income taxation and will be addressed in accordance with Section 9 10 hereof. View More Arrow
Found in Eclipse Resources Corp contract
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