Floor if TSR Meets Minimum Level. Notwithstanding Section 2.7(a), if 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 PDC’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: PDC Merger (PDC Energy, Inc.), PDC Merger Performance Share Agreement (SRC Energy Inc.)
Floor if TSR Meets Minimum Level. Notwithstanding Section 2.7(a), if PDC’s 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 PDCthe Company’s relative TSR rank during the Performance Period.
Appears in 2 contracts
Samples: 2019 Performance Share Agreement (PDC Energy, Inc.), 2018 Performance Share Agreement (PDC Energy, Inc.)
