Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales growth goals and annual NOP growth goals for the 2019, 2020 and 2021 fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales growth goals, the annual NOP growth goals and the corresponding performance adjustment multiples are as follows: Annual Growth Goals over the Performance Period (2019 thru 2021 fiscal years) Payout – as Multiple of Award Units to Vest Net Sales (50%) NOP (50%) Threshold 3% 4% 0.5X Target 5% 9% 1.0X Maximum 12% 20% 2.0X The calculation of the “Adjusted Award Units” based on performance versus these growth goals will be determined as follows:
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Samples: Performance Adjusted Restricted Stock Unit Award Agreement (Sleep Number Corp), Restricted Stock Unit Award Agreement (Sleep Number Corp)
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales growth goals and annual NOP growth goals for the 201920__, 2020 20__, and 2021 20__ fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales growth goals, the annual NOP growth goals and the corresponding performance adjustment multiples are as follows: Annual Growth Goals over the Performance Period (2019 20__ thru 2021 20__ fiscal years) Payout – as Multiple of Award Units to Vest Net Sales (50%) NOP (50%) Threshold 3% 4% 0.5X Target 5% 9% 1.0X Maximum 12% 20% 2.0X EX10.3 The calculation of the “Adjusted Award Units” based on performance versus these growth goals will be determined as follows:
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Sleep Number Corp)
Performance Adjustments. The number of Award Units granted hereunder is subject to adjustment based on the Company’s level of achievement versus annual Net Sales growth goals and annual NOP growth goals for the 201920__, 2020 20__, and 2021 20__ fiscal years (the “Performance Period”). (For purposes of this Agreement, “NOP” will be defined as Net Operating Income). The Net Sales growth goals and NOP growth goals will be equally weighted. The annual Net Sales growth goals, the annual NOP growth goals and the corresponding performance adjustment multiples are as follows: Annual Growth Goals over Over the Performance Period (2019 20__ thru 2021 20__ fiscal years) Payout – as Multiple of Award Units to Vest Net Sales (50%) NOP (50%) Threshold 3__% 4__% 0.5X Target 5__% 9__% 1.0X Maximum 12__% 20__% 2.0X The calculation of the “Adjusted Award Units” based on performance versus these growth goals will be determined as follows:
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Sleep Number Corp)