Common use of Percentile Ranking, Performance Percentage and Vesting Schedule Clause in Contracts

Percentile Ranking, Performance Percentage and Vesting Schedule. Measurement of the Company’s TSR percentile ranking relative to the Applicable Peer Group shall be calculated using the following formula for purposes of the table below: Company’s TSR Percentile Ranking = ((1 – X) + Y)) ÷ 2 Where: • X = the number of members in the Applicable Peer Group with a TSR greater than the TSR of the Company during the Three-Year Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. • Y = the number of members in the Applicable Peer Group with a TSR less than the TSR of the Company during the Three-Year Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. Schedule I – Page 2 The Company’s TSR Percentile Ranking Relative to the Applicable Peer Group The Company’s Performance Percentage / Vested Percentage of the Awarded RSUs The Company’s Performance Category Greater than or Equal to 85th Percentile 200% Maximum Performance Equal to 75th Percentile 150.00% Equal to 65th Percentile 125.00% Equal to 55th Percentile 100.00% Target Performance Equal to 45th Percentile 75.00% Equal to 35th Percentile 50.00% Threshold Performance Less than 35th Percentile 0.00% Below Threshold Performance Accordingly, for purposes of establishing the Company’s TSR percentile ranking relative to the Applicable Peer Group pursuant to the table below, the TSR of the Company and each of the member of the Applicable Peer Group shall be determined as soon as practicable following the close of the Three-Year Performance Cycle. If the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds “Threshold Performance” (i.e. the ranking exceeds the “35th Percentile” in the table above) and is between two of the percentile ranks set forth in the table above, the applicable performance percentage for such performance measurement shall be interpolated between the ranges applicable ranges (e.g., a 60th percentile ranking would result in a performance percentage of 112.5%). Notwithstanding the foregoing, if the Company’s TSR is negative, the Performance Percentage set forth in the table above shall not exceed 100% of Target Performance, regardless of whether the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds the “55th Percentile” in the table above. For the avoidance of doubt: (i) if the Company’s TSR results in “Below Threshold Performance” pursuant to the table above, then all Awarded RSUs shall be forfeited; and (ii) if the Company’s TSR at least results in “Threshold Performance” pursuant to the table above, but such performance does not equal the “Target Performance”, then the Awarded RSUs that have not become Vested RSUs shall be forfeited. All forfeitures under this Agreement shall be at no cost to the Company.

Appears in 2 contracts

Samples: Restricted Share Unit Award Agreement (Helmerich & Payne, Inc.), Restricted Share Unit Award Agreement (Helmerich & Payne, Inc.)

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Percentile Ranking, Performance Percentage and Vesting Schedule. Measurement of the Company’s TSR percentile ranking relative to the Applicable Peer Group shall be calculated using the following formula for purposes of the table below: Company’s TSR Percentile Ranking = ((1 – X) + Y)) ÷ 2 Where: • X = the number of members in the Applicable Peer Group with a TSR greater than the TSR of the Company during the Three-Year relevant Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. • Y = the number of members in the Applicable Peer Group with a TSR less than the TSR of the Company during the Three-Year relevant Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. Schedule I – Page 2 932295-NYCSR05A - MSW The Company’s TSR Percentile Ranking Relative to the Applicable Peer Group The Company’s Performance Percentage / Vested Percentage of the Awarded Subject RSUs The Company’s Performance Category Greater than or Equal to 85th Percentile 200% Maximum Performance Equal to 75th Percentile 150.00% Equal to 65th Percentile 125.00% Equal to 55th Percentile 100.00% Target Performance Equal to 45th Percentile 75.00% Equal to 35th Percentile 50.00% Threshold Performance Less than 35th Percentile 0.00% Below Threshold Performance Accordingly, for purposes of establishing the Company’s TSR percentile ranking relative to the Applicable Peer Group pursuant to the table below, the TSR of the Company and each of the member of the Applicable Peer Group shall be determined as soon as practicable following the close of the Three-Year applicable Performance Cycle. If the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds “Threshold Performance” (i.e. the ranking exceeds the “35th Percentile” in the table above) and is between two of the percentile ranks set forth in the table above, the applicable performance percentage for such performance measurement shall be interpolated between the ranges applicable ranges (e.g., a 60th percentile ranking would result in a performance percentage of 112.5%). Notwithstanding the foregoing, if the Company’s TSR is negative, the Performance Percentage set forth in the table above shall not exceed 100% of Target Performance, regardless of whether the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds the “55th Percentile” in the table above. For the avoidance of doubt: (i) if the Company’s TSR results in “Below Threshold Performance” pursuant to the table above, then all Awarded Subject RSUs with respect to the relevant Performance Cycle shall be forfeited; and (ii) if the Company’s TSR at least results in “Threshold Performance” pursuant to the table above, but such performance does not equal the “Target Performance”, then the Awarded number of Subject RSUs that have not become exceeds the applicable number of the Vested RSUs shall be forfeited. All forfeitures under this Agreement shall be at no cost to the Company.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Helmerich & Payne, Inc.)

Percentile Ranking, Performance Percentage and Vesting Schedule. Measurement of the Company’s TSR percentile ranking relative to the Applicable Peer Group shall be calculated using the following formula for purposes of the table below: Company’s TSR Percentile Ranking = ((1 – X) + Y)) ÷ 2 Where: • X = the number of members in the Applicable Peer Group with a TSR greater than the TSR of the Company during the Three-Year relevant Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. • Y = the number of members in the Applicable Peer Group with a TSR less than the TSR of the Company during the Three-Year relevant Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. Schedule I – Page 2 The Company’s TSR Percentile Ranking Relative to the Applicable Peer Group The Company’s Performance Percentage / Vested Percentage of the Awarded Subject RSUs The Company’s Performance Category Greater than or Equal to 85th Percentile 200% Maximum Performance Equal to 75th Percentile 150.00% Equal to 65th Percentile 125.00% Equal to 55th Percentile 100.00% Target Performance Equal to 45th Percentile 75.00% Equal to 35th Percentile 50.00% Threshold Performance Less than 35th Percentile 0.00% Below Threshold Performance Accordingly, for purposes of establishing the Company’s TSR percentile ranking relative to the Applicable Peer Group pursuant to the table below, the TSR of the Company and each of the member of the Applicable Peer Group shall be determined as soon as practicable following the close of the Three-Year applicable Performance Cycle. If the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds “Threshold Performance” (i.e. the ranking exceeds the “35th Percentile” in the table above) and is between two of the percentile ranks set forth in the table above, the applicable performance percentage for such performance measurement shall be interpolated between the ranges applicable ranges (e.g., a 60th percentile ranking would result in a performance percentage of 112.5%). Notwithstanding the foregoing, if the Company’s TSR is negative, the Performance Percentage set forth in the table above shall not exceed 100% of Target Performance, regardless of whether the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds the “55th Percentile” in the table above. For the avoidance of doubt: (i) if the Company’s TSR results in “Below Threshold Performance” pursuant to the table above, then all Awarded Subject RSUs with respect to the relevant Performance Cycle shall be forfeited; and (ii) if the Company’s TSR at least results in “Threshold Performance” pursuant to the table above, but such performance does not equal the “Target Performance”, then the Awarded number of Subject RSUs that have not become exceeds the applicable number of the Vested RSUs shall be forfeited. All forfeitures under this Agreement shall be at no cost to the Company.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Helmerich & Payne, Inc.)

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Percentile Ranking, Performance Percentage and Vesting Schedule. Measurement of the Company’s TSR percentile ranking relative to the Applicable Peer Group shall be calculated using the following formula for purposes of the table below: Company’s TSR Percentile Ranking = ((1 – X) + Y)) ÷ 2 Where: · X = the number of members in the Applicable Peer Group with a TSR greater than the TSR of the Company during the Three-Year applicable Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. · Y = the number of members in the Applicable Peer Group with a TSR less than the TSR of the Company during the Three-Year applicable Performance Cycle, expressed as a percentage of the total number of members in the Applicable Peer Group. Schedule I – Page 2 The Company’s TSR Percentile Ranking Relative to the Applicable Peer Group The Company’s Performance Percentage / Vested Percentage of the Awarded Subject RSUs The Company’s Performance Category Greater than or Equal to 85th Percentile 200200 % Maximum Performance Equal to 75th Percentile 150.00150.00 % Equal to 65th Percentile 125.00125.00 % Equal to 55th Percentile 100.00100.00 % Target Performance Equal to 45th Percentile 75.0075.00 % Equal to 35th Percentile 50.0050.00 % Threshold Performance Less than 35th Percentile 0.000.00 % Below Threshold Performance Accordingly, for purposes of establishing the Company’s TSR percentile ranking relative to the Applicable Peer Group pursuant to the table below, the TSR of the Company and each of the member of the Applicable Peer Group shall be determined as soon as practicable following the close of the Three-Year applicable Performance Cycle. If the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds “Threshold Performance” (i.e. the ranking exceeds the “35th Percentile” in the table above) and is between two of the percentile ranks set forth in the table above, the applicable performance percentage for such performance measurement shall be interpolated between the ranges applicable ranges (e.g., a 60th percentile ranking would result in a performance percentage of 112.5%). Notwithstanding the foregoing, if the Company’s TSR is negative, the Performance Percentage set forth in the table above shall not exceed 100% of Target Performance, regardless of whether the Company’s TSR percentile ranking relative to the Applicable Peer Group exceeds the “55th Percentile” in the table above. For the avoidance of doubt: (i) if the Company’s TSR results in “Below Threshold Performance” pursuant to the table above, then all Awarded Subject RSUs with respect to the applicable Performance Cycle shall be forfeited; and (ii) if the Company’s TSR at least results in “Threshold Performance” pursuant to the table above, but such performance does not equal the “Target Performance”, then the Awarded number of Subject RSUs that have not become exceeds the applicable number of the Vested RSUs shall be forfeited. All forfeitures under this Award Agreement shall be at no cost to the Company.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Helmerich & Payne, Inc.)

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