Common use of Percentage of Performance Shares Earned Clause in Contracts

Percentage of Performance Shares Earned. The extent to which Performance Shares shall become earned when and to the extent determined by the Committee according to the following schedule: Performance Level Adjusted Net Income Percentage of Performance Shares Earned Less than $[—] 0% Threshold $[—] 50% Target $[—] 100% Maximum $[—] or more 200% If the Adjusted Net Income falls between Threshold and Target, or between Target and Maximum, then the percentage of Performance Shares earned shall be the sum of the Percentage of Performance Shares Earned in the schedule above for the lower such Performance Level plus the product of (i) the difference between the Percentage of Performance Shares Earned in the schedule above for the greater and lower such Performance Levels, multiplied by (ii) a fraction, the numerator of which is the amount by which the Adjusted Net Income achieved exceeds the Adjusted Net Income in the schedule above for the lower such Performance Level and the denominator of which is the difference between Adjusted Net Income amounts in the schedule above for the greater and lower such Performance Levels. The percentage of Performance Shares earned shall never exceed 200%.