Cap if TSR is Negative. Notwithstanding Section 2.7(a), if the Company's overall TSR is negative for the Performance Period, then the number of Performance Shares earned will be the lesser of (i) one hundred percent (100%) of the Target Award, or (ii) the number of Performance Shares determined in accordance with Section 2.7(a) based on the Company’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: 2019 Performance Share Agreement (PDC Energy, Inc.), 2018 Performance Share Agreement (PDC Energy, Inc.)
Cap if TSR is Negative. Notwithstanding Section 2.7(a), if the Company's PDC’s overall TSR is negative for the Performance Period, then the number of Performance Shares earned will be the lesser of (i) one hundred percent (100%) of the Target Award, or (ii) the number of Performance Shares determined in accordance with Section 2.7(a) based on the CompanyPDC’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: PDC Merger (PDC Energy, Inc.), PDC Merger Performance Share Agreement (SRC Energy Inc.)
