Earned Units. The issuance of COMMON SHARES pursuant to this AGREEMENT shall be subject to the COMPANY's achievement with respect to the ADJUSTED EPS goals set forth in the table below. If ADJUSTED EPS for the fiscal year _____ does not equal or exceed the THRESHOLD performance level set forth in the table below, the AWARD and the PARTICIPANT'S right to receive any COMMON SHARES pursuant to this AGREEMENT shall expire and be forfeited without payment of any additional consideration, effective as of the last day of fiscal year _____. Subject to the foregoing, the number of “EARNED UNITS” for purposes of this AGREEMENT shall be determined in accordance with the following schedule: THRESHOLD $x.xx 50% TARGET $x.xx 100% MAXIMUM $x.xx 200% In the event that actual ADJUSTED EPS is between the THRESHOLD and TARGET, or TARGET and MAXIMUM performance levels, linear interpolation will be used to determine the number of EARNED UNITS. Any portion of the TARGET AWARD not earned based upon the actual achievement of ADJUSTED EPS shall expire and be forfeited without payment of any additional consideration, effective as of the last day of fiscal year _____. The achievement of the performance objective(s) set forth in this Section 2(A) (and the extent or lack thereof) shall be evidenced by the COMMITTEE's written certification. For purposes of this Section 2(A), the term “ADJUSTED EPS” means the COMPANY's Net Income per Share from Continuing Operations before Extraordinary Items (Diluted), as reported in the COMPANY's annual report on Form 10-K for the applicable fiscal year, adjusted to exclude the impact of charges for impairments and write-downs of store-related long-lived assets, trademarks and goodwill, net charges related to store closures and lease exits or other restructuring programs, any legal settlement in excess of $3 million, the impact of acquisitions or divestitures, and changes in accounting principles, as certified by the COMMITTEE.
Appears in 4 contracts
Samples: Performance Share Award Agreement (Abercrombie & Fitch Co /De/), Performance Share Award Agreement (Abercrombie & Fitch Co /De/), Performance Share Award Agreement (Abercrombie & Fitch Co /De/)
Earned Units. The issuance total number of COMMON SHARES pursuant to this AGREEMENT shall be subject to the COMPANY's achievement with respect to the ADJUSTED EPS goals set forth in the table below. If ADJUSTED EPS Earned Units for the fiscal year _____ does Adjusted Performance Period, if any (not equal or to exceed the THRESHOLD performance level set forth in Maximum Number of Units), shall equal the table below, sum of (i) the AWARD and First Measurement Period Earned Units (but only if the PARTICIPANT'S right First Measurement Period ended prior to receive any COMMON SHARES pursuant to this AGREEMENT shall expire and be forfeited without payment of any additional consideration, effective as of the last day of fiscal year _____. Subject the Adjusted Performance Period) plus (ii) the Second Measurement Period Earned Units (but only if the Second Measurement Period ended prior to the foregoinglast day of the Adjusted Performance Period) plus (iii) the excess, if any, of the Third Measurement Period Earned Units over the sum of the First Measurement Period Units (if applicable) and the Second Measurement Period Units (if applicable). In the Committee’s determination of the number of “EARNED UNITS” Earned Units for purposes the Adjusted Performance Period, the following modifications shall be made to the components of this AGREEMENT the Relative Return Factor for the Third Measurement Period deemed to end on the last day of the Adjusted Performance Period:
(i) The Company Total Stockholder Return shall be determined as provided by Section 2.1, except that the Average Per Share Closing Price for the 90-day period ending on the last day of the Adjusted Performance Period shall be replaced with the price per Share to be paid to the holder thereof in accordance with the following schedule: THRESHOLD $x.xx 50% TARGET $x.xx 100% MAXIMUM $x.xx 200% In definitive agreement governing the event that actual ADJUSTED EPS is between transaction constituting the THRESHOLD and TARGETChange in Control (or, or TARGET and MAXIMUM performance levelsin the absence of such agreement, linear interpolation will be used to determine the number of EARNED UNITS. Any portion closing price per Share as reported on the NASDAQ Stock Market for the last trading day of the TARGET AWARD not earned based upon the actual achievement of ADJUSTED EPS shall expire and be forfeited without payment of any additional considerationAdjusted Performance Period), effective adjusted to reflect an assumed reinvestment, as of the applicable ex-dividend date, of all cash dividends and other cash distributions (excluding cash distributions resulting from share repurchases or redemptions by the Company) paid to stockholders during the Adjusted Performance Period, as illustrated in Appendix B to the Grant Notice.
(ii) The Benchmark Index Total Return shall be determined as provided by Section 2.3, except that for the purposes of clause (a) thereof, the Average Closing Index Value shall be determined for the 90-day period ending on the last day of fiscal year _____. The achievement of the performance objective(s) set forth in this Section 2(A) (and the extent or lack thereof) shall be evidenced by the COMMITTEE's written certification. For purposes of this Section 2(A), the term “ADJUSTED EPS” means the COMPANY's Net Income per Share from Continuing Operations before Extraordinary Items (Diluted), as reported in the COMPANY's annual report on Form 10-K for the applicable fiscal year, adjusted to exclude the impact of charges for impairments and write-downs of store-related long-lived assets, trademarks and goodwill, net charges related to store closures and lease exits or other restructuring programs, any legal settlement in excess of $3 million, the impact of acquisitions or divestitures, and changes in accounting principles, as certified by the COMMITTEEAdjusted Performance Period.
Appears in 2 contracts
Samples: Market Stock Units Grant Notice and Global Market Stock Units Award Agreement (Silicon Laboratories Inc), Market Stock Units Grant Notice and Global Market Stock Units Award Agreement (Silicon Laboratories Inc)
Earned Units. The issuance of COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall be subject to the COMPANY's ’s achievement with respect to the [ADJUSTED EPS EPS] [CUMULATIVE ADJUSTED EPS] goals set forth in the table below. If the [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] for the fiscal year ______-fiscal-year period ending _________, 20__ does not equal or exceed the THRESHOLD performance level set forth in the table below, the AWARD and the PARTICIPANT'S ’s right to receive any COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending ____________, 20__. Subject to the foregoing, the number of “EARNED UNITS” for purposes of this AGREEMENT shall be determined in accordance with the following schedule: THRESHOLD $x.xx $ 50% TARGET $x.xx $ 100% MAXIMUM $x.xx $ 200% In the event that actual [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] is between the THRESHOLD and TARGETthe TARGET performance levels, or between the TARGET and the MAXIMUM performance levels, linear interpolation will be used to determine the number of EARNED UNITS. Any portion of the TARGET AWARD not earned based upon the actual achievement of [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] achieved shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending __________, 20__. The achievement of the performance objective(s) goals set forth in this Section 2(A) (and the extent or lack thereof) shall be evidenced by the COMMITTEE's ’s written certification. [For purposes of this Section 2(A), the term “ADJUSTED EPS” means the COMPANY's ’s Net Income per Share from Continuing Operations before Extraordinary Items (Diluted), as reported in the COMPANY's annual report ’s Annual Report on Form 10-K for the applicable fiscal year, adjusted to exclude the impact of charges for impairments and write-downs of store-related long-lived assets, trademarks and goodwill, net charges related to store closures and lease exits or other restructuring programs, any legal settlement in excess of $3 million, the impact of acquisitions or divestitures, one-time federal tax changes accounted for on a discrete basis in excess of $3 million and changes in accounting principles, as certified by the COMMITTEE.]
Appears in 2 contracts
Samples: Performance Share Award Agreement (Abercrombie & Fitch Co /De/), Performance Share Award Agreement (Abercrombie & Fitch Co /De/)
Earned Units. The issuance of COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall be subject to the COMPANY's ’s achievement with respect to the [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] goals set forth in the table below. If the [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] for the fiscal year ______-fiscal-year period ending _________, 20__ does not equal or exceed the THRESHOLD performance level set forth in the table below, the AWARD and the PARTICIPANT'S ’s right to receive any COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending _________, 20__. Subject to the foregoing, the number of “EARNED UNITS” for purposes of this AGREEMENT shall be determined in accordance with the following schedule: THRESHOLD $x.xx $ 50% TARGET $x.xx $ 100% MAXIMUM $x.xx $ 200% In the event that actual [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] is between the THRESHOLD and TARGETthe TARGET performance levels, or between the TARGET and the MAXIMUM performance levels, linear interpolation will be used to determine the number of EARNED UNITS. Any portion of the TARGET AWARD not earned based upon the actual achievement of [ADJUSTED EPS EPS][CUMULATIVE ADJUSTED EPS] achieved shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending __________, 20__. The achievement of the performance objective(s) goals set forth in this Section 2(A) (and the extent or lack thereof) shall be evidenced by the COMMITTEE's ’s written certification. [For purposes of this Section 2(A), the term “ADJUSTED EPS” means the COMPANY's ’s Net Income per Share from Continuing Operations before Extraordinary Items (Diluted), as reported in the COMPANY's annual report ’s Annual Report on Form 10-K for the applicable fiscal year, adjusted to exclude the impact of charges for impairments and write-downs of store-related long-lived assets, trademarks and goodwill, net charges related to store closures and lease exits or other restructuring programs, any legal settlement in excess of $3 million, the impact of acquisitions or divestitures, one-time federal tax changes accounted for on a discrete basis in excess of $3 million and changes in accounting principles, as certified by the COMMITTEE.]
Appears in 2 contracts
Samples: Performance Share Award Agreement (Abercrombie & Fitch Co /De/), Performance Share Award Agreement (Abercrombie & Fitch Co /De/)
Earned Units. The issuance of COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall be subject to the COMPANY's ’s achievement with respect to the ADJUSTED EPS and ANNUAL LEVEL OF SAVINGS goals set forth in the table tables below. If the ADJUSTED EPS for the fiscal year ending _______, 20__ does and the ANNUAL LEVEL OF SAVINGS, as applicable, do not equal or exceed the THRESHOLD performance level levels set forth in the table tables below, the AWARD and the PARTICIPANT'S ’s right to receive any COMMON SHARES of the COMPANY pursuant to this AGREEMENT shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending ________, 20__. Subject to the foregoing, the number of “EARNED UNITS” for purposes of this AGREEMENT shall be determined in accordance with the following scheduletables: THRESHOLD $ 25% TARGET $ 50% MAXIMUM $ 75% BELOW THRESHOLD Below $x.xx 50____ per share and any level of savings 0% THRESHOLD $____ per share or greater AND $ 25% TARGET $x.xx 100_____ per share or greater AND $ 50% MAXIMUM $x.xx 200_____ per share or greater AND $ 75% In the event that actual ADJUSTED EPS is and ANNUAL LEVEL OF SAVINGS are between the THRESHOLD and TARGETthe TARGET performance levels, or between the TARGET and the MAXIMUM performance levels, linear interpolation will be used to determine the number of EARNED UNITS. Any portion of the TARGET AWARD not earned based upon the actual achievement of ADJUSTED EPS and ANNUAL LEVEL OF SAVINGS achieved shall expire and be forfeited without payment of any additional consideration, effective as of the last day of the fiscal year ending _________, 20__. The achievement of the performance objective(s) goals set forth in this Section 2(A) (and the extent or lack thereof) shall be evidenced by the COMMITTEE's ’s written certification. For purposes of this Section 2(A), the term “ADJUSTED EPS” means the COMPANY's ’s Net Income per Share from Continuing Operations before Extraordinary Items (Diluted), as reported in the COMPANY's annual report ’s Annual Report on Form 10-K for the applicable fiscal year, adjusted to exclude the impact of charges for impairments and write-downs of store-related long-lived assets, trademarks and goodwill, net charges related to store closures and lease exits or other restructuring programs, any legal settlement in excess of $3 million, the impact of acquisitions or divestitures, one-time federal tax changes accounted for on a discrete basis in excess of $3 million and changes in accounting principles, as certified by the COMMITTEE. Also for the purposes of this Section 2(A), the term “ANNUAL LEVEL OF SAVINGS” means the COMPANY’s FY 20__ realized cost savings resulting from the diagnostic analysis completed by _________ in connection with COMPANY’s profit and process improvement initiatives, as certified by the COMMITTEE.
Appears in 1 contract
Samples: Performance Share Award Agreement (Abercrombie & Fitch Co /De/)