Common use of Calculation of Company TSR Percentile Ranking Clause in Contracts

Calculation of Company TSR Percentile Ranking. The Company TSR Percentile Ranking is computed by (A) computing the Company’s TSR for the Performance Period and (b) computing the TSR for the Performance Period of each company that was in the S&P 500 Index as of the end of the Performance Period (the “S&P Group”), provided that if a company declares bankruptcy at any time during the Performance Period, the company will be removed from the S&P Group, and if a company does not have publicly reported stock prices for the whole Performance Period, the company will be removed from the S&P Group. The Company TSR Percentile Ranking is the percentage of TSRs of the S&P Group calculated that are lower than the Company’s TSR (e.g., if the Company’s TSR is greater than 75% of the TSRs of the members of the S&P Group, the Company TSR Percentile Ranking is the 75th percentile).

Appears in 3 contracts

Samples: Award Agreement (Tenneco Inc), Performance Unit Award Agreement (Tenneco Inc), Term Performance Unit Award Agreement (Tenneco Inc)

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Calculation of Company TSR Percentile Ranking. The Company TSR Percentile Ranking is computed by (A) computing the Company’s TSR for the Performance Period and (b) computing the TSR for the Performance Period of each company that was in the S&P 500 Index as of peer group selected by the end of Committee for the Performance Period (the “S&P Peer Group”), provided that if a company declares bankruptcy at any time during the Performance Period, the company will be removed from the S&P Peer Group, and if a company does not have publicly reported stock prices for the whole Performance Period, the company will be removed from the S&P Peer Group. The Company TSR Percentile Ranking is the percentage of TSRs of the S&P Peer Group calculated that are lower than the Company’s TSR (e.g., if the Company’s TSR is greater than 75% of the TSRs of the members of the S&P Peer Group, the Company TSR Percentile Ranking is the 75th percentile).

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Tenneco Inc)

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Calculation of Company TSR Percentile Ranking. (i) The Company TSR Percentile Ranking is computed by (A) computing the Company’s TSR for the Performance Period and (b) computing the TSR for the Performance Period of each company that was in the S&P 500 Index as of the end of the Performance Period (the “S&P Group”), provided that if a company declares bankruptcy at any time during the Performance Period, the company will be removed from the S&P Group, and if a company does not have publicly reported stock prices for the whole Performance Period, the company will be removed from the S&P Group. The Company TSR Percentile Ranking is the percentage of TSRs of the S&P Group calculated that are lower than the Company’s TSR (e.g., if the Company’s TSR is greater than 75% of the TSRs of the members of the S&P Group, the Company TSR Percentile Ranking is the 75th percentile).

Appears in 1 contract

Samples: Award Agreement (Tenneco Inc)

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