Common use of Performance Adjustment Clause in Contracts

Performance Adjustment. If the Payment Date (as defined below under "Payment") is the Vest Date, the actual number of shares issuable or cash payable under the Restricted Stock Units awarded pursuant to this Award Agreement may be adjusted upward or downward by one-hundred percent (100%) of the Target Number, based on the Company’s performance against three key metrics. The Committee has identified the three performance metrics as Capital Effectiveness, Safety, and Funds from Operations/Debt Index. The specific performance goals applicable to this Award are set forth in Exhibit A attached hereto and the extent to which performance goals for all three performance metrics are achieved will be expressed in “total points earned,” as set forth in Exhibit A. If the total points earned is at or above the 90th percentile, then the Participant will earn 200% of the Restricted Stock Units. If the total points earned is at the 60th percentile, then the Participant will earn 150% of the Restricted Stock Units. If the total points earned is at the 50th percentile, then the Participant will earn 100% of the Restricted Stock Units. If the total points earned is at the 40th percentile, then the Participant will earn 50% of the Restricted Stock Units. If the total points earned falls below the 40th percentile, then no Restricted Stock Units will be earned and all Restricted Stock Units granted hereunder shall be immediately forfeited. If the total points earned fall between the 40th percentile and the 50th percentile, the 50th percentile and the 60th percentile or the 60th percentile and the 90th percentile, then the number of Restricted Stock Units that are earned shall be based on interpolation within such percentile ranges.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

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Performance Adjustment. If the Payment Date (as defined below under "Payment") is the Vest Date, the actual number of shares issuable or cash amount payable under the Restricted Stock Units awarded pursuant to this Award Agreement may be adjusted upward or downward by one-hundred percent (100%) of the Target Number, based on the Company’s performance against three key metrics. The Committee has identified the three performance metrics as Capital Effectiveness, Safety, and Funds from Operations/Debt Index. The specific performance goals applicable to this Award are set forth in Exhibit A attached hereto and the extent to which performance goals for all three performance metrics are achieved will be expressed in “total points earned,” as set forth in Exhibit A. If the total points earned is at or above the 90th percentile, then the Participant will earn 200% of the Restricted Stock Units. If the total points earned is at the 60th percentile, then the Participant will earn 150% of the Restricted Stock Units. If the total points earned is at the 50th percentile, then the Participant will earn 100% of the Restricted Stock Units. If the total points earned is at the 40th percentile, then the Participant will earn 50% of the Restricted Stock Units. If the total points earned falls below the 40th percentile, then no Restricted Stock Units will be earned and all Restricted Stock Units granted hereunder shall be immediately forfeited. If the total points earned fall between the 40th percentile and the 50th percentile, the 50th percentile and the 60th percentile or the 60th percentile and the 90th percentile, then the number of Restricted Stock Units that are earned shall be based on interpolation within such percentile ranges.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

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Performance Adjustment. If the Payment Date (as defined below under "PaymentDelivery of Common Stock") is the Vest Date, the actual number of shares issuable or cash payable under the Restricted Stock Units awarded pursuant to this Award Agreement may be adjusted upward or downward by one-hundred percent (100%) of the Target Number, based on the Company’s performance against three key metrics. The Committee has identified the three performance metrics as Capital EffectivenessEffectiveness Index, Safety, and Funds from Operations/Adjusted Debt Index. The specific performance goals applicable to this Award are set forth in Exhibit A attached hereto and the extent to which performance goals for all three performance metrics are achieved will be expressed in “total points earned,” as set forth in Exhibit A. ”. If the total points earned is at or above the 90th percentile, then the Participant will earn 200% of the Restricted Stock Units. If the total points earned is at the 60th percentile, then the Participant will earn 150% of the Restricted Stock Units. If the total points earned is at the 50th percentile, then the Participant will earn 100% of the Restricted Stock Units. If the total points earned is at the 40th percentile, then the Participant will earn 50% of the Restricted Stock Units. If the total points earned falls below the 40th percentile, then no Restricted Stock Units will be earned and all Restricted Stock Units granted hereunder shall be immediately forfeited. If the total points earned fall between the 40th percentile and the 50th percentile, the 50th percentile and the 60th percentile or the 60th percentile and the 90th percentile, then the number of Restricted Stock Units that are earned shall be based on interpolation within such percentile ranges.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

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