Common use of Contingent Performance Shares Clause in Contracts

Contingent Performance Shares. (a) As soon as practicable after the Company’s independent auditors have certified the Company’s financial statements for the Award Year, the Committee shall determine for purposes of this Agreement the Company’s (1) earnings growth (“EG”), (2) achievement of established milestones and objectives under the Company’s long-term strategic plan (“SP”), and (3) Shareholder Value as of the end of the Award Year. The EG, SP and Shareholder Value shall be determined by the Committee in accordance with the terms of the Plan and this Agreement based on financial results reported to shareholders in the Company’s annual reports and shall be subject to adjustment by the Committee for extraordinary events during the Award Year. The Committee shall promptly notify the Grantee of its determination.