Discretionary Reduction Sample Clauses
Discretionary Reduction. In establishing the Final Award, the Compensation Committee reserves the right to reduce (but not increase) the amount calculated in Section 4(a) above if, based on the Compensation Committee’s subjective assessment, the Participant has failed to meet expectations in the following performance areas:
(i) Company growth (timeliness and budget);
(ii) HSE – fines, incidents, accidents;
(iii) Investor relations;
(iv) Corporate compliance;
(v) Annual objectives set by the Board of Directors; and
(vi) Such other areas as the Compensation Committee may determine.
Discretionary Reduction. The Committee shall retain sole and full discretion to reduce, in whole or in part, the amount of any cash payment otherwise payable to Participant under the LTIP Award, including, without limitation, a reduction of all amounts to be paid hereunder in the event the Company suffers a serious earnings decline at the time such amounts are payable, making the reduction of such amounts advisable in view of the financial circumstances of the Company.