Common use of Combined Ratio Clause in Contracts

Combined Ratio. The number of Combined Ratio Restricted Stock Units that shall vest, if any, on the Determination Date, shall be determined as follows: Average Combined Ratio Applicable Percentage Average Combined Ratio Threshold [●]% 25% Average Combined Ratio Target [●]% 50% Average Combined Ratio Maximum [●]% or less 100% The Combined Ratio Restricted Stock Units that vest for the Performance Period will equal the product of Applicable Percentage determined above (based on the Average Combined Ratio) and the Combined Ratio Restricted Stock Units. The Applicable Percentage will be interpolated on a linear basis between each (i) the Average Combined Ratio Growth Threshold and Average Combined Ratio Growth Target, and (ii) the Average Combined Ratio Growth Target and Average Combined Ratio Growth Maximum. Any fractional Combined Ratio Restricted Stock Units, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no Combined Ratio Restricted Stock Units shall vest if the Average Combined Ratio is greater than [●]% and in no event shall the Applicable Percentage be greater than one hundred percent (100.0%). For purposes of this Agreement:

Combined Ratio. The number of Combined Ratio Restricted Stock Units Shares that shall vestvest and that Grantee shall be entitled to receive, if any, on the Determination Date, shall be determined as follows: Average Combined Ratio Applicable Percentage Average Combined Ratio Threshold [●]% 25% Average Combined Ratio Target [●]% 50% Average Combined Ratio Maximum [●]% or less 100% The Combined Ratio Restricted Stock Units Shares that vest for the Performance Period will equal the product of Applicable Percentage determined above (based on the Average Combined Ratio) and the Combined Ratio Restricted Stock UnitsShares. The Applicable Percentage will be interpolated on a linear basis between each (i) the Average Combined Ratio Growth Threshold and Average Combined Ratio Growth Target, and (ii) the Average Combined Ratio Growth Target and Average Combined Ratio Growth Maximum. Any fractional Combined Ratio Restricted Stock UnitsShares, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no Combined Ratio Restricted Stock Units Shares shall vest if the Average Combined Ratio is greater than ([●]% %) and in no event shall the Applicable Percentage be greater than one hundred percent (100.0%). For purposes of this Agreement: