BVPS Growth Sample Clauses

BVPS Growth. The number of BVPS Restricted Stock Units that shall vest, if any, on the Determination Date, shall be determined as follows: 3 Year BVPS Growth Increase Applicable Percentage 3 Year BVPS Growth Increase Threshold [●]% 25% 3 Year BVPS Growth Increase Target [●]% 50% 3 Year BVPS Growth Increase Maximum [●]% 100% The BVPS Restricted Stock Units that vest for the Performance Period will equal the product of Applicable Percentage determined above (based on the BVPS Growth Increase) and the BVPS Restricted Stock Units. The Applicable Percentage will be interpolated on a linear basis between each (i) the BVPS Growth Increase Threshold and BVPS Growth Increase Target, and (ii) the BVPS Growth Increase Target and BVPS Growth Increase Maximum. Any fractional BVPS Restricted Stock Units, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no BVPS Restricted Stock Units shall vest if the BVPS Growth Increase is less than [●]% and in no event shall the Applicable Percentage be greater than one hundred percent (100%). For purposes of this Agreement:

BVPS Growth. “BVPS Growth” means the average of the annual growth rates in book value per share, excluding AOCI and cumulative change in fair value of funds withheld embedded derivatives, for each year in the Performance Period. BVPS Growth is a non-GAAP financial measure.