Award Formula Sample Clauses

Award Formula. The number of Units that will be earned at the end of the Measurement Period is a function of the amount of Incremental Shareholder Value Delivered over the Measurement Period as compared to the Incremental Shareholder Value Expected to be created over the Measurement Period. Except as otherwise provided below in the Terms and Conditions, at the end of the Measurement Period, the Units earned will be the number of whole Units (rounded down) equal to the product of (a) the number of Units comprising the Target Performance Based Unit Award, and (b) a multiplier, as provided in the following table, based on the ratio, expressed as a percentage, of Incremental Shareholder Value Delivered for the Measurement Period (as determined below) to the Incremental Shareholder Value Expected for the Measurement Period: Less than 50% zero (no Units earned) At least 50% but less than 80% .2 plus an additional .01 for each full percentage point realized above minimum for range At least 80% but less than 100% .5 plus an additional .025 for each full percentage point realized above minimum for range At least 100% but less than 110% 1.0 plus an additional .025 for each full percentage point realized above minimum for range At least 110% but less than 150% 1.25 plus an additional .00625 for each full point realized above minimum for range At least 150% 1.5 (all Units earned)
Sample 1
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Award Formula. (a) Your individual participation percentage is ___%. This percentage shall be multiplied by base salary paid to you during the Season and by the percentage payout based on operating income (as provided below) to determine the amount of your incentive compensation, which shall be paid in cash. (b) There shall be a 100% incentive compensation payout if the Company’s consolidated operating income for the Season determined in accordance with generally accepted accounting principles plus any expenses (or minus any gains) based on (i) the market price of Company Common Stock, (ii) extraordinary items or (iii) transactions outside the ordinary course of business (or the portion of the consolidated total allocated to the business activity in which you are principally engaged) reaches the median performance level that has been set by the Company’s Board of Directors (the “Median Performance Level”) for the Company (or the business activity in which you are principally engaged). (c) There shall be a 200% incentive compensation payout if such income reaches the maximum performance level that has been set by the Company’s Board of Directors (the “Maximum Performance Level”). (d) In the event such income is greater than the Median Performance Level and less than the Maximum Performance Level, the incentive compensation payout shall be determined by straight-line proration between those two amounts. (e) In the event such income is equal to or greater than the minimum performance level that has been set by the Company’s Board of Directors (the “Minimum Performance Level”) but less than the Median Performance Level, the incentive compensation payout shall be determined by straight line proration between a 20% incentive compensation payout for the Minimum Performance Level and a 100% incentive compensation payout for the Median Performance Level. (f) The incentive compensation payout percentage for the Season to be factored into the incentive compensation formula shall be determined by the Company’s Chief Financial Officer, whose good faith determination shall be final and binding on you and the Company.
Sample 1
Award Formula. (a) Your individual participation percentage is [__]%. This percentage shall be multiplied by base salary paid to you during the Season and by the percentage payout based on operating income (as provided below) to determine the amount of your incentive compensation, which shall be paid in cash. (b) There shall be a 100% incentive compensation payout if the Company’s consolidated operating income for the Season determined in accordance with generally accepted accounting principles plus any expenses (or minus any gains) based on: (i) the market price of Company Common Stock, (ii) extraordinary items or (iii) transactions outside the ordinary course of business, such as the Tender Offer (or the portion of the consolidated total allocated to the business activity in which you are principally engaged) reaches the median performance level that has been set by the Company’s Board of Directors (the “Median Performance Level”) for the Company (or the business activity in which you are principally engaged). (c) There shall be a 200% incentive compensation payout if such income reaches the maximum performance level that has been set by the Company’s Board of Directors (the “Maximum Performance Level”). (d) In the event such income is greater than the Median Performance Level and less than the Maximum Performance Level, the incentive compensation payout shall be determined by straight-line proration between those two amounts. (e) In the event such income is equal to or greater than the minimum performance level that has been set by the Company’s Board of Directors (the “Minimum Performance Level”) but less than the Median Performance Level, the incentive compensation payout shall be determined by straight line proration between a 20% incentive compensation payout for the Minimum Performance Level and a 100% incentive compensation payout for the Median Performance Level. [Name] October 31, 2007 (f) The incentive compensation payout percentage for the Season to be factored into the incentive compensation formula shall be determined by the Company’s Chief Financial Officer, whose good faith determination shall be final and binding on you and the Company.
Sample 1
Award Formula. The number of Shares of Restricted Stock that will vest at the end of the Measurement Period is a function of the amount of Incremental Shareholder Value Delivered over the Measurement Period as compared to the Incremental Shareholder Value Expected to be created over the Measurement Period. Except as otherwise provided below in the Terms and Conditions, at the end of the Measurement Period all restrictions will lapse on, and the Shares will become fully vested with respect to, the number of whole Shares (rounded down) equal to the product of (a) the number of Shares comprising the Target Restricted Stock Award, and (b) a multiplier, as provided in the following table, based on the ratio, expressed as a percentage, of Incremental Shareholder Value Delivered for the Measurement Period (as determined below) to the Incremental Shareholder Value Expected for the Measurement Period: Less than 50% zero (no Shares vest) At least 50% but less than 80% .2 plus an additional .01 for each full percentage point realized above minimum for range At least 80% but less than 100% .5 plus an additional .025 for each full percentage point realized above minimum for range At least 100% but less than 110% 1.0 plus an additional .025 for each full percentage point realized above minimum for range At least 110% but less than 150% 1.25 plus an additional .00625 for each full point realized above minimum for range At least 150% 1.5 (all Shares vest)
Sample 1

Related to Award Formula

  • Performance Measure Grantee will adhere to the performance measures requirements documented in

  • 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.

  • Performance Goal (a) Subject to the following sentence, the Performance Goal is set out in Appendix A hereto, which Appendix A is incorporated by reference herein and made a part hereof. Notwithstanding the foregoing, the provisions of Section 13 or any other provision of this Agreement to the contrary, the Committee reserves the right to unilaterally change or otherwise modify the Performance Goal in any manner whatsoever (including substituting a new Performance Goal). If the Committee exercises such discretionary authority to any extent, the Committee shall provide the Grantee with a new Appendix A in substitution for the Appendix A attached hereto, and such new Appendix A and the Performance Goal set out therein (rather than the Appendix A attached hereto and the Performance Goal set out therein) shall in all events apply for all purposes of this Agreement. (b) Depending upon the extent, if any, to which the Performance Goal has been achieved, and subject to compliance with the requirements of Section 4, each PSU shall entitle the Grantee to receive, at such time as is determined in accordance with the provisions of Section 5, between 0 and 2.0 Shares for each PSU. The Committee shall, as soon as practicable following the last day of the Performance Period, certify (i) the extent, if any, to which, in accordance with Appendix A, the Performance Goal has been achieved with respect to the Performance Period and (ii) the number of whole and/or partial Shares, if any, which, subject to compliance with the vesting requirements of Section 4, the Grantee shall be entitled to receive with respect to each PSU (with such number of whole and/or partial Shares being hereafter referred to as the “Share Delivery Factor”). Such certification shall be final, conclusive and binding on the Grantee, and on all other persons, to the maximum extent permitted by law.

  • Performance Goals A. The Trust and State Street have developed mutually acceptable performance goals dated March 1, 2011 , and as may be amended from time to time, regarding the manner in which they expect to deliver and receive the services under this Agreement (hereinafter referred to as “Service Level Agreement”). The parties agree that such Service Level Agreement reflects performance goals and any failure to perform in accordance with the provisions thereof shall not be considered a breach of contract that gives rise to contractual or other remedies. It is the intention of the parties that the sole remedy for failure to perform in accordance with the provisions of the Service Level Agreement, or any dispute relating to performance goals set forth in the Service Level Agreement, will be a meeting of the parties to resolve the failure pursuant to the consultation procedure described in Sections V. B. and V.C. below. Notwithstanding the foregoing, the parties hereby acknowledge that any party’s failure (or lack thereof) to meet the provisions of the Service Level Agreement, while not in and of itself a breach of contract giving rise to contractual or other remedies, may factor into the Trust’s reasonably determined belief regarding the standard of care exercised by State Street hereunder.

  • PERFORMANCE OBJECTIVES 4.1 The Performance Plan (Annexure A) sets out- 4.1.1 the performance objectives and targets that must be met by the Employee; and 4.1.2 the time frames within which those performance objectives and targets must be met. 4.2 The performance objectives and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer, and shall include key objectives; key performance indicators; target dates and weightings. 4.2.1 The key objectives describe the main tasks that need to be done. 4.2.2 The key performance indicators provide the details of the evidence that must be provided to show that a key objective has been achieved. 4.2.3 The target dates describe the timeframe in which the work must be achieved. 4.2.4 The weightings show the relative importance of the key objectives to each other. 4.3 The Employee’s performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan.

  • Performance Period This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

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

  • Performance Measurement The Uniform Guidance requires completion of OMB-approved standard information collection forms (the PPR). The form focuses on outcomes, as related to the Federal Award Performance Goals that awarding Federal agencies are required to detail in the Awards.

  • Payout At the commencement of the period of leave, the College shall pay to the participant the moneys standing to his/her credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.

  • Performance Measures The System Agency will monitor the Grantee’s performance of the requirements in Attachment A and compliance with the Contract’s terms and conditions.

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