Determination of Earned Award. At the end of each Performance Cycle, the Committee will determine whether the performance goals for each Performance Goal Category for that cycle have been achieved, and will determine, in its sole discretion, the award amount that you will receive for each Performance Goal Category as follows:
(a) If the Committee determines that all of the performance goals for a Performance Goal Category have been achieved, you will receive an award amount for that Performance Goal Category that will be no less than the Target Award Amount Fraction for that Performance Goal Category, but no more than 150% of the Target Award Amount Fraction for that Performance Goal Category.
(b) If the Committee determines that all of the performance goals for a Performance Goal Category have not been achieved, you will receive an award amount for that Performance Goal Category that will be no less than 50% of the Target Award Amount Fraction for that Performance Goal Category, but no more than 150% of the Target Award Amount Fraction for that Performance Goal Category The aforementioned award amounts determined by the Committee are collectively referred to herein as the “Earned Award.”
Determination of Earned Award. Except as otherwise provided herein, the Grantee’s right to receive any Performance Shares is contingent upon his or her remaining in the continuous employ of the Corporation or a Subsidiary through the end of the Performance Period. For purposes of this Agreement, the continuous employ of the Grantee shall not be considered interrupted or terminated in the case of transfers between locations of the Corporation and its Subsidiaries. Following the Performance Period, the Committee shall certify that the Management Objectives have been satisfied and shall determine the number of Performance Shares that shall have become earned hereunder.
Determination of Earned Award. As soon as reasonably practicable following the completion of the applicable Performance Period, the Committee will determine, in its sole discretion, (i) whether and to what extent the applicable performance goal(s) have been satisfied and (ii) the number of Performance Stock Units that will become earned pursuant to the terms hereof (the “Earned Units”). Any Performance Stock Units subject to achievement during an applicable Performance Period that do not constitute Earned Units following the Committee’s determination thereof with respect to such Performance Period will be automatically forfeited by Participant without consideration.
Determination of Earned Award. Provided that (i) the applicable Performance Goals are achieved during the Company’s fiscal year ending January 29, 2011 (the “Performance Period”), and (ii) you continue to be employed by the Company through the Certification Date (as defined below) (unless vesting is accelerated in accordance with the terms of this Award Agreement or the Plan) then, subject to the limitations contained herein and to the provisions of the Plan, you shall be credited with a finally determined number of RSUs on the Certification Date equal to all or a portion of the Award so certified by the Committee to have been earned based on the attainment of such Performance Goals, subject to the vesting provisions contained in Section 1 and the other provisions of this Award Agreement, and subject, on and after the grant date, to adjustment as provided under the terms of the Plan including, without limitation, the last paragraph of Section 5 of the Plan (the “Earned Award”). For purposes of this Award Agreement, the Certification Date is the date after the end of the Performance Period on which the Committee certifies (x) the extent to which Performance Goals have been achieved based upon the Company’s audited financial statements and (y) the number of shares of Stock subject to the Earned Award. If the Committee determines that none of the Performance Goals shall have been achieved during the Performance Period, this RSU shall terminate and all shares of Stock subject to the Award shall be forfeited upon such determination.
Determination of Earned Award. In determining the actual award earned, each Performance Goal will be measured separately and adjusted for its relative weighting. The total of the three calculations will determine the total award earned. The actual award earned for each Performance Goal will be based on a comparison of the Company’s performance as compared to that of the Rxxxxxx 2000 index companies as follows: Below 25th percentile 0% 25th percentile 25% 50th percentile 100% 75th percentile & above 200% The percent of the target award earned for actual performance between the 25th and the 50th percentile and between the 50th and 75th percentile will be determined on a straight-line interpolation. Notwithstanding the foregoing, the percentage of the Target Award earned with respect to any particular Performance Measure calculated above shall be capped at 150% if the Company’s performance with respect that particular Performance Measure is less than zero.
Determination of Earned Award. No later than 60 days following the end of the Performance Period, the Committee shall determine whether and to what extent the Award has been earned for the Performance Period (the actual date of such Committee determination, the “Determination Date”). The Committee’s determination of the foregoing shall be final and binding on the Participant. Upon such determination by the Committee, the portion of the Award determined by the Payout Percentage (as defined in the Performance Matrix) as a percentage of the Award shall vest and become non-forfeitable, subject to the Participant’s Continuous Service from the Grant Date through the last day of the Performance Period. On the Determination Date, any Restricted Stock Units which do not vest in accordance with the immediately preceding sentence shall immediately be forfeited and cancelled, and the Participant shall not be entitled to any compensation or other amount with respect thereto.
Determination of Earned Award. Not later than three days following the filing of the Company’s Form 10-K covering the period during which the applicable Performance Period ended, the Company’s Chief Financial Officer (the “CFO”) will notify the Committee if one or more of the applicable Performance Goal(s) set forth in the Performance Matrix have been satisfied for the applicable Performance Period. Not later than ten days following any such notification from the CFO, the Committee will determine (i) whether and to what extent the applicable Performance Goal(s) have been satisfied for the applicable Performance Period, (ii) the applicable Payout Percentage(s) in respect of the RSUs applicable to such Performance Goal(s) for the applicable Performance Period, and (iii) the aggregate number of RSUs that shall remain eligible to vest hereunder pursuant to the terms hereof. The Committee’s determination of the foregoing shall be final and binding on the Participant absent a showing of manifest error. Upon such determinations by the Committee, any RSUs applicable to the Performance Goal(s) and Performance Period(s) relating to the Committee’s determination that are no longer eligible to vest (due to the failure to achieve the maximum applicable Performance Goal achievement level(s)) shall immediately be forfeited and cancelled, and the Participant shall not be entitled to any compensation or other amount with respect thereto. Notwithstanding any other provision of this Agreement, but subject to clause (i) of Section 2(c) hereof, no portion of the RSUs shall vest until the Committee has made the foregoing determinations.
Determination of Earned Award. At the end of the Performance Period, the Committee shall determine whether and to what extent the pre-established performance goals have been met and shall calculate the number of Performance Share Units that the Award Recipient has earned. Any Performance Share Units (and accrued dividends, as described in Section 5) which have not been earned by the Award Recipient shall be forfeited. Such results shall be certified in writing by the Committee prior to any Common Stock being issued hereunder.
Determination of Earned Award. Within 30 days following the end of the Performance Period, the Committee shall determine whether and to what extent the Award of the Restricted Stock Units has been earned for the Performance Period (the actual date of such Committee determination, the “Determination Date”). The Committee’s determination of the foregoing shall be final and binding on the Participant. Upon such determination by the Committee, the applicable portion of the Restricted Stock Units determined by the Payout Percentage (as defined in the Performance Matrix) as a percentage of the Target Award shall vest and become non-forfeitable (subject to the Participant’s continuous service with the Company and its Affiliates (“Service”) from the Grant Date through the Determination Date). On the Determination Date, any Restricted Stock Units which do not vest in accordance with the immediately preceding sentence shall immediately be forfeited and cancelled, and the Participant shall not be entitled to any compensation or other amount with respect thereto.
Determination of Earned Award. In determining the actual award earned, each performance measure will be measured separately and the total of the three calculations will equal the total award earned The actual award earned for each performance measure will be based on a comparison of Kaman’s performance as compared to that of the Xxxxxxx 2000 index companies as follows: Below 25th percentile None 25th percentile 25% 50th percentile 100% 75th percentile & above 200% The percent of the target award earned for actual performance between the 25th and the 50th percentile and between the 50th and 75th percentile will be determined on a straight-line interpolation. All payments are meant to qualify as Qualified Performance-Based Awards under Section 15 (c) of the Kaman Corporation 2003 Stock Incentive Plan.
