Financial Performance of the Corporation Sample Clauses

Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the date of the report of the Corporation’s independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, 2015, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation’s Earnings Before Interest, Income Taxes, Depreciation, and Amortization (“EBITDA”), as derived from such consolidated financial statements, equals or exceeds the corresponding Threshold EBITDA specified below: Percentage of Units As To Which Condition Threshold 0 Less than $62.5M 50% $62.5M but less than $65M 60% $65M but less than $67.5M 65% $67.5M but less than $70M 75% $70M but less than $72.5M 80% $72.5M but less than $75M 90% $75M but less than $77.5M 100% $77.5M or more For purposes of this Grant, the term “Earnings Before Interest, Income Taxes, Depreciation, and Amortization” for the fiscal year ending December 31, 2015 (the “Fiscal Year”) shall mean the Corporation’s net earnings before interest, income taxes, depreciation and amortization are subtracted, provided however, that for purposes of determining EBITDA, the Corporation’s expenses relating to its 2015 Cash Bonus Plan and 2015 Equity Incentive Plan shall be disregarded, and provided further that adjustments to EBITDA may be made in the discretion of the Committee for any non-recurring or extraordinary items. EBITDA will be calculated to closest whole dollar, but there shall be no proration of EBITDA between EBITDA levels. Vested Units will be rounded to the next highest whole Unit.
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Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the date of the report of the Corporation’s independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, ____, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation’s Return on Capital Employed (“ROCE”), as determined by such consolidated financial statements, equals or exceeds the corresponding Threshold ROCE specified below: Percentage of Units As To Which Condition Threshold 0 __% or less 100% __% or more For purposes of this Grant, the term “Return on Capital Employed” for the fiscal year ending December 31, ___ (the “Fiscal Year”) shall mean that percentage determined by dividing (a) the Corporation’s net earnings before interest and taxes for the Fiscal Year as determined by the Committee in its discretion, by (b) the average monthly amount (determined as of the last day of each month) of the sum of (1) the excess of the Corporation’s current assets over its current liabilities, and (2) the Corporation’s net plant, property and equipment; provided, however, that such amounts shall be determined in accordance with the meaning of such terms under generally accepted accounting principles as applied by the Corporation in its audited financial statements for the Fiscal Year. The vesting percentage shall be determined on a pro rata basis as ROCE increases from the minimum Threshold ROCE (__%+) to the maximum Threshold ROCE (__%), with vesting percentages rounded to the next highest whole percent. The ROCE will be calculated to closest tenth of a percent. Vested Units will be rounded to the next highest whole Unit.
Sample 1
Financial Performance of the Corporation. The condition to vesting based on the Corporation’s financial performance shall be satisfied on the third anniversary of the Date of Grant, as to a percentage of Units subject to this Grant, based on the Corporation’s Total Shareholder Return (“TSR”) between the Date of Grant and the third anniversary of the Date of Grant (the “Vesting Period”). TSR shall be calculated based on target and maximum amounts as set forth in the following table: 0 TSR is less than or equal to 0% 50% TSR is at target (i.e., 7%/year return, or 22.5% return over three-year performance period) 100% TSR is at or above maximum (i.e., 14%/year return, or 48.2% return over three year period) For purposes of this Grant, the “Total Shareholder Return” shall be determined by dividing (1) the sum of (a) the average closing Share price over the last 60 trading days of the period immediately prior to the end of the Vesting Period (the “Maturity Date FMV”), and (b) cash dividends paid during the Vesting Period; by (2) the average closing Share price over the last 60 trading days preceding the Date of Grant (the “Grant Date FMV”). The average closing Share price shall be determined by reference to the closing price of a Share on the New York Stock Exchange if the Company’s Common Stock is then listed for trading on that exchange; otherwise, the closing price of a Share shall be as reported on the principal exchange (or, if applicable, over-the-counter stock market) on which the Company’s Common Stock is then listed for trading. The formula for calculating TSR shall be as follows: TSR will be calculated to closest tenth of a percent. Vested Units will be rounded to the next highest whole Unit. By way of example, if the Grant Date FMV was $9.00, and the Maturity Date FMV was $12.00, and a total of $0.36 per share of dividends were paid during the Vesting Period, the calculation of TSR and the vesting of Units would be as follows: $9.00 48.2% (maximum)
Sample 1
Financial Performance of the Corporation. The condition to vesting based on the Corporation's financial performance shall be satisfied on the date of the report of the Corporation's independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, ______, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation's Return on Capital Employed ("ROCE"), as determined by such consolidated financial statements, equals or exceeds the corresponding Threshold ROCE specified below: Percentage of Units As To Which Condition Threshold On Vesting is Satisfied ROCE ______ ____
Sample 1

Related to Financial Performance of the Corporation

  • Performance of the Company The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement and the Registration Rights Agreement to be performed, satisfied or complied with by the Company at or prior to the Commencement. The Company shall deliver to the Investor on the Commencement Date the compliance certificate substantially in the form attached hereto as Exhibit C (the “Compliance Certificate”).

  • Financial Performance Covenants Notwithstanding anything to the contrary contained in Section 7.01, in the event that the U.S. Borrower fails to comply with the requirements of any Financial Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of Intermediate Holdings (which shall contribute all such cash to the capital of the U.S. Borrower) (collectively, the "Cure Right"), and upon the receipt by U.S. Borrower of such cash (the "Cure Amount") pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments: (i) EBITDA shall be increased, solely for the purpose of measuring the Financial Performance Covenants and not for any other purpose under this Agreement, by an amount equal to the Cure Amount; and (ii) If, after giving effect to the foregoing recalculations, the U.S. Borrower shall then be in compliance with the requirements of all Financial Performance Covenants, the U.S. Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenants as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of the Financial Performance Covenants that had occurred shall be deemed cured for this purposes of the Agreement.

  • PERFORMANCE OF THE CONTRACT II.1.1. The Contractor shall perform the Contract to the highest professional standards. The Contractor shall have sole responsibility for complying with any legal obligations incumbent on him, notably those resulting from employment, tax and social legislation. II.1.2. The Contractor shall have sole responsibility for taking the necessary steps to obtain any permit or licence required for performance of the Contract under the laws and regulations in force at the place where the tasks assigned to him are to be executed. II.1.3. Without prejudice to Article II.3 any reference made to the Contractor’s staff in the Contract shall relate exclusively to individuals involved in the performance of the Contract. II.1.4. The Contractor must ensure that any staff performing the Contract have the professional qualifications and experience required for the execution of the tasks assigned to them. II.1.5. The Contractor shall neither represent the Agency nor behave in any way that would give such an impression. The Contractor shall inform third parties that he does not belong to the European public service. II.1.6. The Contractor shall have sole responsibility for the staff who execute the tasks assigned to him. II.1.7. In the event of disruption resulting from the action of a member of the Contractor's staff working on Agency premises or in the event of the expertise of a member of the Contractor's staff failing to correspond to the profile required by the Contract, the Contractor shall replace him without delay. The Agency shall have the right to request the replacement of any such member of staff, stating its reasons for so doing. Replacement staff must have the necessary qualifications and be capable of performing the Contract under the same contractual conditions. The Contractor shall be responsible for any delay in the execution of the tasks assigned to him resulting from the replacement of staff in accordance with this Article. II.1.8. Should any unforeseen event, action or omission directly or indirectly hamper execution of the tasks, either partially or totally, the Contractor shall immediately and on his own initiative record it and report it to the Agency. The report shall include a description of the problem and an indication of the date on which it started and of the remedial action taken by the Contractor to ensure full compliance with his obligations under the Contract. In such event the Contractor shall give priority to solving the problem rather than determining liability. II.1.9. Should the Contractor fail to perform his obligations under the Contract in accordance with the provisions laid down therein, the Agency may - without prejudice to its right to terminate the Contract - reduce or recover payments in proportion to the scale of the failure. In addition, the Agency may impose penalties or liquidated damages provided for in Article II.16.

  • Historical Performance Information To the extent agreed upon by the parties, the Sub-Advisor will provide the Trust with historical performance information on similarly managed investment companies or for other accounts to be included in the Prospectus or for any other uses permitted by applicable law.

  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

  • Indemnity for Performance Agreements The Vendor agrees to indemnify and hold harmless and defend TIPS, TIPS Member(s), officers and employees from and against all claims and suits for damages, injuries to persons (including death), property damages, losses, and expenses including court costs and attorney’s fees, arising out of, or resulting from, Vendor’s work under this Agreement, including all such causes of action based upon common, constitutional, or statutory law, or based in whole or in part, upon allegations of negligent or intentional acts on the part of the Vendor, its officers, employees, agents, subcontractors, licensees, or invitees, unless such claims are based in whole upon the negligent acts or omissions of the TIPS, TIPS Member(s), officers, employees, or agents. If based in part upon the negligent acts or omissions of the TIPS, TIPS Member(s), officers, employees, or agents, Vendor shall be responsible for their proportional share of the claim. By signature hereon, the bidder hereby certifies that he/she is not currently delinquent in the payment of any franchise taxes owed the State of Texas under Chapter 171, Tax Code.

  • SCHEDULE FOR PERFORMANCE REVIEWS 7.1 The performance of the Employee in relation to his performance agreement shall be reviewed for the following quarters with the understanding that the reviews in the first and the third quarter may be verbal if performance is satisfactory:

  • Performance of the Services In addition to the Common Articles, it is specified that:

  • Consideration for Performance The consideration to be paid to the Contractor under this Agreement will be compensation for all the Contractor’s expenses incurred in the performance of this Agreement, unless otherwise expressly provided.

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit H), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

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