Common use of Earning an Award Clause in Contracts

Earning an Award. At the end of the Performance Period, the Participant shall be eligible to receive a payment equal to between 0% and 250% of the Target Cash Award based on the achievement of the Performance Objectives set forth below during the Performance Period. Performance between two stated levels will be interpolated when determining the percentage of the Target Cash Award earned. Performance with respect to each Performance Objective is calculated separately. (a) The Target Cash Award can be earned based on the Company’s Total Shareholder Return during the Performance Period compared to the Total Shareholder Return of the Peer Group during the Performance Period (“Relative TSR”) that corresponds to the percentage below: Relative TSR Compared to Peer Group during Performance Period Percentage of Target Cash Award Earned Equal to or less than Peer Group 25th percentile 0% Equal to Peer Group 50th percentile 50% Equal to Peer Group 59th percentile 100% Equal to or higher than Peer Group 85th percentile 250% For this purpose: (i) Relative TSR shall be determined by the Committee in its sole discretion; and (ii) the Committee shall select the institutions constituting, and make such periodic adjustments as it determines appropriate to, the “Peer Group” in its sole discretion.

Appears in 2 contracts

Samples: Cash Long Term Incentive Award Agreement (Farmers National Banc Corp /Oh/), Cash Long Term Incentive Award Agreement (Farmers National Banc Corp /Oh/)

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Earning an Award. At the end of the Performance Period, the Participant shall be eligible to receive a payment equal to between 0% and 250200% of the Target Cash Award based on the achievement of the Performance Objectives set forth below during the Performance Period. Performance between two stated levels will be interpolated when determining the percentage of the Target Cash Award earned. Performance with respect to each Performance Objective is calculated separately. (a) The Target Cash Award can be earned based on the Company’s Total Shareholder Return during the Performance Period compared to the Total Shareholder Return of the Company’s Peer Group during the Performance Period (“Relative TSR”) that corresponds to the percentage below: Relative TSR Compared to Peer Group during Performance Period Percentage of Target Cash Award Earned Equal to or less Less than Peer Group 25th percentile 0% Equal to Peer Group 50th 25th percentile 50(threshold) 20% Equal to Peer Group 59th 50th percentile (target) 100% Equal to or higher than Peer Group 85th 75th percentile 250(max) 200% For this purpose: (i) Relative TSR shall be determined by the Committee in its sole discretion; and (ii) the Committee shall select the institutions constituting, and make such periodic adjustments as it determines appropriate to, the “Peer Group” in its sole discretion.

Appears in 1 contract

Samples: Performance Based Cash Award Agreement (Farmers National Banc Corp /Oh/)

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Earning an Award. At the end of the Performance Period, the Participant shall be eligible to receive a payment equal to between 0% and 250200% of the Target Cash Award based on the achievement of the Performance Objectives set forth below during the Performance Period. Performance between two stated levels will be interpolated when determining the percentage of the Target Cash Award earned. Performance with respect to each Performance Objective is calculated separately. (a) The Target Cash Award can be earned based on the Company’s Total Shareholder Return during the Performance Period compared to the Total Shareholder Return of the Company’s Peer Group during the Performance Period (“Relative TSR”) that corresponds to the percentage below: Relative TSR Compared to Peer Group during Performance Period Percentage of Target Cash Award Earned Equal to or less Less than Peer Group 25th percentile 0% Equal to Peer Group 50th 25th percentile 50(threshold) 20% Equal to Peer Group 59th 50th percentile (target) 100% Equal to or higher than Peer Group 85th percentile 250(max) 200% For this purpose: (i) Relative TSR shall be determined by the Committee in its sole discretion; and (ii) the Committee shall select the institutions constituting, and make such periodic adjustments as it determines appropriate to, the “Peer Group” in its sole discretion.

Appears in 1 contract

Samples: Performance Based Cash Award Agreement (Farmers National Banc Corp /Oh/)

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