Floor if TSR Meets Minimum Level. Notwithstanding Section 2.7(a), if the Company's TSR over the Performance Period is at least 52.0875% (i.e. 15% annualized), then the number of Performance Shares earned will be the greater of (i) 50% of the Target Award, or (ii) the number of Performance Shares determined in accordance with Section 2.7(a) based on the Company’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: Performance Share Agreement (PDC Energy, Inc.), Performance Share Agreement (PDC Energy, Inc.)
Floor if TSR Meets Minimum Level. Notwithstanding Section 2.7(a), if the Company's PDC’s TSR over the Performance Period is at least 52.0875% (i.e. 15% annualized), then the number of Performance Shares earned will be the greater of (i) 50% of the Target Award, or (ii) the number of Performance Shares determined in accordance with Section 2.7(a) based on the CompanyPDC’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: Performance Share Agreement (PDC Energy, Inc.), Performance Share Agreement (SRC Energy Inc.)
