Common use of AWARD MODIFIER Clause in Contracts

AWARD MODIFIER. The aggregate number of Performance Shares to vest under this Agreement is equal to the Target Number of Performance Shares set forth above multiplied by the award modifier set forth below (the “Award Modifier”). For purposes of this Agreement, such Performance Shares shall be referred to as the “Vested Shares”. 1 This chart, and the use of the terms “Performance Goal A” and “Performance Goal B” throughout this model form, are for illustration purposes only. The number of separate performance goals to be used, the values and milestones attributable to each performance goal, and the specific performance criteria underlying each performance goal, will be determined by the Committee in connection with each grant of Performance Shares. Employee [Performance Goal A] [ ]% of the Award Modifier will be determined based on [Performance Goal A]. The following table shows the requisite performance for this portion of the Award. [Performance Goal A] Award Modifier Maximum Milestone [ ] [ ]% Target Milestone [ ] [ ]% Threshold Milestone [ ] [ ]% Performance below the threshold milestone will result in 0% Award Modifier for this portion of the award. The Award Modifier will be interpolated for performance between threshold and target milestones, and target and maximum milestones. [Performance Goal B] The final [ ]% of the Award Modifier will be determined based on [Performance Goal B]. The following table shows the requisite performance for this portion of the Award. [Performance Goal B] Award Modifier Maximum Milestone [ ] [ ]% Target Milestone [ ] [ ]% Threshold Milestone [ ] [ ]% The Committee’s determinations with respect to the Performance Period for purposes of this Agreement shall be binding upon all persons. The Committee may decrease, but may not increase the amount payable under this Agreement.

Appears in 2 contracts

Samples: www.sec.gov, Performance Share Award Agreement (Quanex Building Products CORP)

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AWARD MODIFIER. The aggregate number of Performance Shares to vest under this Agreement is equal to the Target Number of Performance Shares set forth above multiplied by the award modifier set forth below (the “Award Modifier”). For purposes of this Agreement, such Performance Shares shall be referred to as the “Vested Shares”. 1 This chart, and the use of the terms “Performance Goal A” and “Performance Goal B” throughout this model form, are for illustration purposes only. The number of separate performance goals to be used, the values and milestones attributable to each performance goal, and the specific performance criteria underlying each performance goal, will be determined by the Committee in connection with each grant of Performance Shares. Employee [Performance Goal A] [ ]% of the Award Modifier will be determined based on [Performance Goal A]. The following table shows the requisite performance for this portion of the Award. [Performance Goal A] Award Modifier Maximum Milestone [ ] [ ]] % Target Milestone [ ] [ ]] % Threshold Milestone [ ] [ ]] % Performance below the threshold milestone will result in 0% Award Modifier for this portion of the award. The Award Modifier will be interpolated for performance between threshold and target milestones, and target and maximum milestonesthreshold milestone. [Performance Goal B] The final [ ]% of the Award Modifier will be determined based on [Performance Goal B]. The following table shows the requisite performance for this portion of the Award. [Performance Goal B] Award Modifier Maximum Milestone [ ] [ ]] % Target Milestone [ ] [ ]] % Threshold Milestone [ ] [ ]] % The Committee’s determinations with respect to the Performance Period for purposes of this Agreement shall be binding upon all persons. The Committee may decrease, but may not increase the amount payable under this Agreement.

Appears in 1 contract

Samples: Award Agreement (Quanex Building Products CORP)

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AWARD MODIFIER. The aggregate number of Performance Shares to vest under this Agreement is equal to the Target Number of Performance Shares set forth above multiplied by the award modifier set forth below (the “Award Modifier”). For purposes of this Agreement, such Performance Shares shall be referred to as the “Vested Shares”. 1 This chart, and the use of the terms “Performance Goal A” and “Performance Goal B” throughout this model form, are for illustration purposes only. The number of separate performance goals to be used, the values and milestones attributable to each performance goal, and the specific performance criteria underlying each performance goal, will be determined by the Committee in connection with each grant of Performance Shares. Employee [Performance Goal A] [ ]% of the Award Modifier will be determined based on [Performance Goal A]. The following table shows the requisite performance for this portion of the Award. [Performance Goal A] Award Modifier Maximum Milestone [ ] [ ]% Target Milestone [ ] [ ]% Threshold Milestone [ ] [ ]% Performance below the threshold milestone will result in 0% Award Modifier for this portion of the award. The Award Modifier will be interpolated for performance between threshold and target milestones, and target and maximum milestones. [Performance Goal B] The final [ ]% of the Award Modifier will be determined based on [Performance Goal B]. The following table shows the requisite performance for this portion of the Award. [Performance Goal B] Award Modifier Maximum Milestone [ ] [ ]% Target Milestone [ ] [ ]% Threshold Milestone [ ] [ ]% The Committee’s determinations with respect to the Performance Period for purposes of this Agreement shall be binding upon all persons. The Committee may decrease, but may not increase the amount payable under this Agreement.

Appears in 1 contract

Samples: Performance Share Award Agreement (Quanex Building Products CORP)

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