Determination of Payout Percentage. As soon as practical following the close of the 2010-2012 Performance Cycle, the Committee shall determine the TSR Percentile Ranking. Thereafter, the Committee shall determine the Payout Percentage as follows:
(a) If the TSR Percentile Ranking is below the 25th percentile, the Payout Percentage shall be zero.
(b) If the TSR Percentile Ranking is at or above the 25th percentile, the Payout Percentage shall be equal to or less than the TSR Percentile Ranking multiplied by 2.
(c) Notwithstanding anything herein to the contrary, if the TSR calculated for the 2010-2012 Performance Cycle is negative, then the Payout Percentage shall not exceed 100%.
(d) Notwithstanding anything herein to the contrary, the Committee has sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. As soon as administratively feasible following the close of the Performance Cycle, the Board shall determine and certify the TUR Performance Percentile. The final Payout Percentage will be the simple average of the Payout Percentage of the four performance periods, which are defined as:
(i) January 1, 2016 through December 31, 2016
(ii) January 1, 2017 through December 31, 2017
(iii) January 1, 2018 through December 31, 2018
(iv) January 1, 2016 through December 31, 2018 The Board shall determine the TUR Performance Percentile and the Payout Percentage for each performance period as follows:
(a) First, the Board shall determine the TUR Performance Percentile, and then the Payout Percentage as follows (using straight-line interpolation between levels above threshold): Ranked below 25th percentile 0% Ranked at 25th percentile 50% Ranked at 50th percentile 100% Ranked at the 100th percentile 200%
(b) Notwithstanding anything herein to the contrary, if the TUR calculated for the performance period is negative, then the Payout Percentage for that performance period shall not exceed 100% regardless of the TUR Performance Percentile for the performance period.
(c) Notwithstanding anything herein to the contrary, the Board has sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. As soon as administratively feasible following the close of the Performance Cycle, the Board shall determine and certify the Payout Percentage. The final Payout Percentage will be the simple average of the TUR Payout Percentage and the DCF Payout Percentage, each as determined in accordance with this Section 2.
(a) The “TUR Payout Percentage” shall be the simple average of the TUR Period Percentages for each of the following four performance periods:
(i) January 1, 2017 through December 31, 2017
(ii) January 1, 2018 through December 31, 2018
(iii) January 1, 2019 through December 31, 2019
(iv) January 1, 2017 through December 31, 2019 The Board shall determine the TUR Period Percentage for each performance period as follows:
(I) First, the Board shall determine the TUR Performance Percentile, and then the TUR Period Percentage as follows (using straight-line interpolation between threshold level (30th percentile) and target level (50th percentile) and between target level and maximum (100th percentile)):
Determination of Payout Percentage. As soon as administratively feasible following the close of the Performance Cycle, the Board shall determine and certify the Payout Percentage. The final Payout Percentage will be the simple average of the TUR Payout Percentage and the DCF Payout Percentage, each as determined in accordance with this Section 2.
(a) The “TUR Payout Percentage” shall be the simple average of the TUR Period Percentages for each of the following four performance periods:
(i) January 1, 2017 through December 31, 2017
(ii) January 1, 2018 through December 31, 2018
(iii) January 1, 2019 through December 31, 2019
(iv) January 1, 2017 through December 31, 2019 The Board shall determine the TUR Period Percentage for each performance period as follows:
(I) First, the Board shall determine the TUR Performance Percentile, and then the TUR Period Percentage as follows (using straight-line interpolation between levels above threshold): Ranked below 25th percentile 0% Ranked at 25th percentile 50% Ranked at 50th percentile 100% Ranked at the 100th percentile 200%
(II) For purposes of greater clarity, if the TUR Performance Percentile for a given performance period is at or above the 25th percentile, the TUR Period Percentage for such performance period shall be equal to the TUR Performance Percentile multiplied by 2 (expressed as a percentage).
(III) Notwithstanding anything herein to the contrary, if the Partnership’s Total Unitholder Return calculated for the applicable performance period is negative, then the TUR Period Percentage for that performance period shall not exceed 100% regardless of the TUR Performance Percentile for the performance period.
(IV) Notwithstanding anything herein to the contrary, the Board has sole and absolute authority and discretion to reduce the TUR Payout Percentage as it may deem appropriate.
(b) The DCF Payout Percentage shall be determined based upon the Partnership’s DCF Per Common Unit for the 12 month period ending December 31, 2019 (the “DCF Measurement Period”) as follows (using straight-line interpolation between levels above threshold): The threshold, target and maximum performance levels shall be those certain levels that are pre-established by the Board for purposes of this award, which shall be set forth in a confidential memorandum or other written communication provided to the Participant on or around the date of this Agreement, as such levels may be adjusted pursuant to the provisions of the Plan, as applicable. Notwithstanding anything her...
Determination of Payout Percentage. As soon as practical following the close of the Performance Cycle, the Board shall determine and certify the TUR Performance Percentile. The final Payout Percentage will be the simple average of the Payout Percentage of the four performance periods, which are defined as:
(i) January 1, 2013 through December 31, 2013
(ii) January 1, 2014 through December 31, 2014
(iii) January 1, 2015 through December 31, 2015
(iv) January 1, 2013 through December 31, 2015 The Board shall determine the Payout Percentage for each performance period as follows:
(a) If the TUR Performance Percentile is below the 25th percentile, the Payout Percentage for that period shall be zero.
(b) If the TUR Performance Percentile is at or above the 25th percentile, the Payout Percentage shall be equal to the TUR Performance Percentile multiplied by 2.
Determination of Payout Percentage. As soon as administratively feasible following the end of the Performance Period, the Committee shall determine and certify the TSR Performance Percentile and the resulting Payout Percentage as follows (using straight-line interpolation between the 30th percentile and the 50th percentile and between the 50th percentile and the 100th percentile): Ranked below 30th percentile 0% Ranked at 30th percentile 50% Ranked at 50th percentile 100% Ranked at the 100th percentile 200% Notwithstanding anything in this Award Agreement to the contrary, if the Company’s TSR calculated for the Performance Period is negative, then the Payout Percentage shall not exceed 100% regardless of the TSR Performance Percentile. Notwithstanding anything in this Award Agreement to the contrary, the Committee has the sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. As soon as practical following the close of the Performance Cycle, the Committee shall determine and certify the TSR Performance Percentile. The final Payout Percentage will be the simple average of the Payout Percentage of the four performance periods, which are defined as:
(i) January 1, 2013 through December 31, 2013
(ii) January 1, 2014 through December 31, 2014
(iii) January 1, 2015 through December 31, 2015
(iv) January 1, 2013 through December 31, 2015 The Committee shall determine the Payout Percentage for each performance period as follows:
(a) If the TSR Performance Percentile is below the 25th percentile, the Payout Percentage for that period shall be zero.
(b) If the TSR Performance Percentile is at or above the 25th percentile, the Payout Percentage shall be equal to the TSR Performance Percentile multiplied by 2.
(c) Notwithstanding anything herein to the contrary, if the TSR calculated for the performance period is negative, then the Payout Percentage for that performance period shall not exceed 100% regardless of the TSR Performance Percentile for the performance period.
(d) Notwithstanding anything herein to the contrary, the Committee has sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. As soon as practical following the close of the 2005-2007 Performance Cycle, the Committee shall determine the TSR Percentile Ranking. Thereafter, the Committee shall determine the Payout Percentage as follows:
(a) If the TSR Percentile Ranking is below the 25th percentile, the Payout Percentage shall be zero.
(b) If the TSR Percentile Ranking is at or above the 25th percentile, the Payout Percentage shall be equal to the TSR Percentile Ranking multiplied by 2.
(c) Notwithstanding anything herein to the contrary, the Committee has sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. As soon as administratively feasible following the end of the Performance Cycle, the Committee shall determine and certify the TSR Performance Percentile and the resulting Payout Percentage as follows (using straight-line interpolation between the 30th percentile and the 50th percentile and between the 50th percentile and the 100th percentile): Ranked below 30th percentile 0% Ranked at 30th percentile 50% Ranked at 50th percentile 100% Ranked at the 100th percentile 200% Notwithstanding anything in this Award Agreement to the contrary:
(a) if the Corporation’s TSR calculated for the Performance Cycle is negative, then the Payout Percentage shall not exceed 100% regardless of the TSR Performance Percentile; and
(b) if the Participant’s Employment terminates by reason of death or on account of Qualified Termination prior to the end of the Performance Cycle, the Payout Percentage shall be 100%. Notwithstanding anything in this Award Agreement to the contrary, the Committee has the sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate.
Determination of Payout Percentage. The Committee will compute the positive or negative difference in percentage points (the "TSR Difference") by subtracting the Peer Group TSR from Corporation's TSR for the Performance Period (or, if applicable, the Short Period). The Payout Percentage will be determined from the following table based on the TSR Difference. TSR Difference Payout Percentage -------------- ----------------- Less than negative 3% 0% Negative 3% 20% 0% 60% Positive 3% 100% Positive 13% and above 200% For TSR Differences between the levels represented in the table, the Payout Percentage will be interpolated on a straight-line basis and rounded to the nearest whole percent.
