Common use of Index TSR Clause in Contracts

Index TSR. Up to one-half of the LTIP Units shall: (A) Vest as of the end of the applicable Measurement Period as provided in the following paragraphs (i), (ii), (iii), (iv) and (v); and (B) be forfeited as of May 14, 2018 if not Vested on or before May 14, 2018. (i) 10% of the LTIP Units shall Vest if the Company TSR for the Measurement Period ending on May 14, 2014 exceeds the percentage increase (or is less negative than the percentage decrease) in the Index for the same period. (ii) 10% of the LTIP Units shall Vest if the Company TSR for the Measurement Period ending on May 14, 2015 exceeds the percentage increase (or is less negative than the percentage decrease) in the Index for the same period. (iii) 10% of the LTIP Units shall Vest if the Company TSR for the Measurement Period ending on May 13, 2016 exceeds the percentage increase (or is less negative than the percentage decrease) in the Index for the same period. (iv) 10% of the LTIP Units shall Vest if the Company TSR for the Measurement Period ending on May 12, 2017 exceeds the percentage increase (or is less negative than the percentage decrease) in the Index for the same period. (v) Any of the LTIP Units not previously Vested under paragraphs 3(b)(i) – (iv) shall Vest if the Company TSR for the Measurement Period ending on May 14, 2018 exceeds the percentage increase (or is less negative than the percentage decrease) in the Index for the same period.