Earned Award. On the Determination Date, the Committee will review and certify in writing whether, and to what extent, the Performance Goals have been achieved and the amount of the cash incentive award that the Participant has earned (the “Earned Award”). Following the Determination Date, but in no event later than two and one-half (2 ½) months following the end of the fiscal year containing the end of the Performance Period, the Company shall make or cause to be made to the Participant a lump sum cash payment equal to the Earned Award. Such written certification by the Committee of the Earned Award shall be final, conclusive and binding on the Participant, and on all other persons, to the maximum extent permitted by law.
Earned Award. Except as otherwise provided above, the number of Performance Shares in which you will vest, if any (the “Earned Award”), shall be determined based on the Company’s aggregate consolidated operating income for the period beginning January 1, 2014 and ending on December 31, 2016, as set forth below: Performance Aggregate Consolidated Operating Income* Award Percentage** Maximum ≥$210 150% Target $180 100% Threshold $150 50% < Threshold <$150 0% *In millions ** Award Percentages between the amounts shown will be calculated by linear interpolation. For the avoidance of doubt, the maximum Earned Award will be 150% of the Performance Shares shown on your Notice of Grant.
Earned Award. Except as specifically provided in Section 3, the maximum potential value of an award (the “Earned Award”) that is eligible for vesting as of the Vesting Date will be determined by the extent to which the Company and Participant have satisfied the performance goals for the Performance Period ending on the Determination Date as set forth in Appendix A to this Agreement. Any portion of the Award that is not earned and will not vest as of the Vesting Date will be forfeited effective as of the
Earned Award. (a) A portion of the Award shall be Earned on each Determination Date in accordance with the schedule set forth below if the Adjusted Fair Market Value on such Determination Date equals or exceeds the Price Target for such Determination Date: Determination Date Percentage Earned on Determination Date If Adjusted Fair Market Value Equals or Exceeds Price Target First 33.3% Second 66.7% (minus any percentage already Earned) Third 100% (minus any percentage already Earned)
Earned Award. Except as otherwise provided above, the number of Performance Units in which you will vest, if any (the “Earned Award”), shall be determined as set forth in Schedule A with: (i) 50% based on the Company’s cumulative Operating Income for the performance period from January 1, 2019 through December 31, 2021 and (ii) 50% based on the Company’s relative Total Shareholder Return as compared to the Performance Peer Group (as set forth in Schedule B) for the period beginning January 1, 2019 through December 31, 2021. Payment of Earned Award. You (or your estate or beneficiaries, if applicable) will receive the value of one Share for each Performance Unit that vests as an Earned Award. In the sole discretion of the Committee, Performance Units shall be paid in (i) Shares, (ii) cash equal to the Fair Market Value of the Shares otherwise deliverable on the Vesting Date, or (iii) any combination thereof, which shall be distributed or paid as soon as administratively practicable after the Vesting Date, but in any event no later than 15 days after the applicable Vesting Date or the date vesting occurs following a Change in Control (as applicable).
Earned Award. Except as otherwise provided above, the number of Performance Units in which you will vest, if any (the “Earned Award”), shall be determined based on the Company’s relative Return on Average Invested Capital (“ROAIC”) improvement (as determined as set forth in Schedule A) as compared to the Competitor Peer Group (as set forth in Schedule B) for the period beginning January 1, 2017 and ending on December 31, 2019. Payment of Earned Award. You (or your estate or beneficiaries, if applicable) will receive the value of one Share for each Performance Unit that vests as an Earned Award. In the sole discretion of the Committee, Performance Units shall be paid in (i) Shares, (ii) cash equal to the Fair Market Value of the Shares otherwise deliverable on the Vesting Date, or (iii) any combination thereof, which shall be distributed or paid as soon as administratively practicable after the Vesting Date, but in any event no later than 30 days after the applicable Vesting Date or the date vesting occurs following a Change in Control (as applicable).
Earned Award. The number of Performance Shares actually earned will be based on the Company's percentile ranking relative to the Peer Banks for Return on Average Equity, subject to any adjustments that may be made under the provisions of this Agreement or of Section 8 of the Plan, for the years 2008, 2009, and 2010, according to the following table: UNBC %ile Ranking vs. Peer Banks Multiple of Target Award Earned ³ 75th %ile 2X 50th %ile 1X 25th %ile .25X < 25th %ile 0X The number of Performance Shares actually earned may be increased up to 20% (except for Named Executive Officers), or decreased up to 20% at the discretion of the Committee, subject to a maximum Earned Award of two times the Target Award. For UNBC percentile ranking between the 75th and 25th percentiles, other than at the 50th percentile, the Committee may interpolate between levels in order to determine the appropriate multiple of the Target Award.
Earned Award. (a) An Award shall be Earned on the following schedule, provided that the Total Shareholder Return Requirement set forth below is satisfied. In the schedule below, Annual Total Shareholder Return Target is referred to as “AT”. Determination Date Total Shareholder Return Requirement Percentage Earned on Determination Date First AT 25% Second (1 + AT)2 -1 50% (minus any percentage already earned) Third (1 + AT)3 -1 75% (minus any percentage already earned) Fourth (1 + AT)4 -1 100% (minus any percentage already earned)
Earned Award. Except as otherwise provided above, the number of Performance Units in which you will vest, if any (the “Earned Award”), shall be determined based on the Company’s aggregate consolidated order intake for the period beginning January 1, 2015 and ending on December 31, 2017, as set forth below: Performance Aggregate Consolidated Order Intake Award Percentage* Maximum ≥$[●] 200% Target $[●] 100% Threshold $[●] 50% < Threshold <$[●] 0% * Award Percentages between the amounts shown will be calculated by linear interpolation. For the avoidance of doubt, the maximum Earned Award will be 150% of the Performance Units shown on your Notice of Grant.
Earned Award. Except as otherwise provided above, the number of Performance Shares of your Initial Performance Shares in which you will vest, if any (the “Earned Award”), shall be determined as follows: • Return on Invested Capital (“ROIC”). The Company’s ROIC (as determined based on the equation set forth in Schedule A) shall be calculated on a yearly basis over the period beginning on January 1, 2013 and ending on December 31, 2015 (the “Measurement Period”). The average of the Company’s yearly ROIC over the Measurement Period shall be used to determine the ROIC Award Percentage, as set forth in the schedule below: Performance Average ROIC ROIC Award Percentage Superior ³16% 150% Target 13% 100% Threshold 10% 50% < Threshold <10% 0% ROIC Award Percentages between the amounts shown will be calculated by linear interpolation.
