Common use of Committee Methodology Clause in Contracts

Committee Methodology. The RSUs and Target RSUs shall be trifurcated into three equal parts, with one-third being allocated to each Performance Period (to avoid partial shares, the portion of RSUs and Target RSUs allocated to a specific Performance Period shall be reduced to the nearest whole number, with the excess rolling forward into the next sequentially ordered Performance Period). The Committee shall calculate the number of Earned RSU’s applicable to each Performance Period as soon as reasonable practicable following expiration of the applicable Performance Period, and in all events as soon as practicable in order to determine the number of Earned RSU’s existing on the Vesting Date. Subject to Exhibit C, for purposes of determining the number of Earned RSUs for a particular Performance Period, the Committee shall:

Appears in 1 contract

Samples: Performance Unit Award Agreement (Independence Contract Drilling, Inc.)

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Committee Methodology. The RSUs and Target RSUs shall be trifurcated into three equal parts, with one-third being allocated to each Performance Period (to avoid partial shares, the portion of RSUs and Target RSUs allocated to a specific Performance Period shall be reduced to the nearest whole number, with the excess rolling forward into the next sequentially ordered Performance Period). The Committee shall calculate the number of Earned RSU’s applicable to each Performance Period as soon as reasonable practicable following expiration of the applicable Performance Period, and in all events as soon as practicable in order to determine the number of Earned RSU’s existing on the Vesting Date. Subject to Exhibit C, for purposes of determining the number of Earned RSUs for a particular Performance Period, the Committee shall:: (a) Calculate the Total Shareholder Return for the Company and each member of the Peer Group for the Performance Period. 1 HOU:3760738.2

Appears in 1 contract

Samples: Award Agreement (Independence Contract Drilling, Inc.)

Committee Methodology. The RSUs and Target RSUs shall be trifurcated into three equal parts, with one-third being allocated to each Performance Period (to avoid partial shares, the portion of RSUs and Target RSUs allocated to a specific Performance Period shall be reduced to the nearest whole number, with the excess rolling forward into the next sequentially ordered Performance Period). The Committee shall calculate the number of Earned RSU’s applicable to each Performance Period as soon as reasonable reasonably practicable following expiration of the applicable Performance Period, and in all events as soon as practicable in order to determine the number of Earned RSU’s existing on the Vesting Date. Subject to Exhibit C, for purposes of determining the number of Earned RSUs for a particular Performance Period, the Committee shall:: (a) Calculate the Total Shareholder Return for the Company and each member of the Peer Group for the Performance Period. 7 HOU:3760738.2

Appears in 1 contract

Samples: Award Agreement (Independence Contract Drilling, Inc.)

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Committee Methodology. The RSUs and Target RSUs shall be trifurcated into three equal parts, with one-third being allocated to each Performance Period (to avoid partial shares, the portion of RSUs and Target RSUs allocated to a specific Performance Period shall be reduced to the nearest whole number, with the excess rolling forward into the next sequentially ordered Performance Period). The Committee shall calculate the number of Earned RSU’s applicable to each Performance Period as soon as reasonable practicable following expiration of the applicable Performance Period, and in all events as soon as practicable in order to determine the number of Earned RSU’s existing on the Vesting DateDate or other vesting event. Subject to Exhibit C, for purposes of determining the number of Earned Earmed RSUs for a particular Performance Period, the Committee shall:

Appears in 1 contract

Samples: Independence Contract (Independence Contract Drilling, Inc.)

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