Performance and Continued Service Requirements Sample Clauses
Performance and Continued Service Requirements. Except as provided in this Agreement and the Plan, the Employee's Performance Share Units will vest only upon the Employee's continued employment through the date that such Performance Share Units are paid after the expiration of the Period of Restriction, provided that the Committee certifies the Performance Goals for the Period of Restriction have been achieved as set forth in Appendix A, attached to this Agreement. Appendix A shall set forth the applicable Performance Goals and the procedure for calculating the number of Performance Share Units to be paid to the extent that such Performance Goals are achieved. In general, Appendix A shall set forth "Threshold," "Target," and "Maximum" performance levels for each Performance Goal, payout percentages applicable to achievement of Threshold, Target, and Maximum performance, and weightings to apply to those payout percentages to calculate the number of Performance Share Units to be paid. If a Performance Goal is achieved at a level that is below Threshold, the applicable payout percentage for that Performance Goal will be 0%. If a Performance Goal is achieved at a level that is equal to Threshold, the applicable payout percentage for that Performance Goal will be 50%. If a Performance Goal is achieved at a level that is equal to Target, the applicable payout percentage for that Performance Goal will be 100%. If a Performance Goal is achieved at a level that is equal to Maximum, the applicable payout percentage for that Performance Goal will be 150%. If a Performance Goal is achieved at a level that either is between Threshold and Target, or between Target and Maximum, the applicable payout percentage will be linearly interpolated. Linear interpolation means that an increase in a goal above one specified level but below another level will result in a similar incremental increase in the payout percentage. After the payout percentage is calculated for a specific Performance Goal, it will be multiplied by the weighting percentages for that individual Performance Goal to produce a “Performance Goal Percentage.” The Performance Goal Percentages for each Performance Goal will be added together, and the sum of the Performance Goal Percentages will be multiplied by the number of Performance Share Units under this Grant to produce the total number of Performance Share Units to be paid under this Grant. For purposes of determining whether the Performance Goals have been achieved, calculations will be adjusted for Extra...
Performance and Continued Service Requirements. Except as provided in this Agreement and the Plan, the Employee's Performance Share Units will vest only upon the Employee's continued employment through the date that such Performance Share Units are paid after the expiration of the Period of Restriction, provided that the Committee certifies the Performance Goals for the Period of Restriction have been achieved as set forth in Appendix A, attached to this Agreement. Appendix A shall set forth the applicable Performance Goals and a "Threshold," "Target," and "Maximum" performance levels and payout percentages. If the Performance Goals are achieved at a level that is below Threshold, the number of Performance Share Units to be paid will be 0. If the Performance Goals are achieved at a level that is equal to Threshold, the amount of Performance Share Units to be paid will be 50% of the Performance Share Units under this Grant. If the Performance Goals are achieved at a level that is equal to Target, the amount of Performance Share Units to be paid will be 100% of the Performance Share Units under this Grant. If the Performance Goals are achieved at a level that is equal to Maximum, the Performance Share Units to be paid will be 150% of the Performance Share Units under this Grant. If the Performance Goals are achieved at a level that either is between Threshold and Target, or between Target and Maximum, the amount of Performance Share Units that will be paid will be equal to an amount that is linearly interpolated between the applicable payout percentages. Linear interpolation means that an increase in a goal above one specified level but below another level will result in a similar incremental increase in the payout percentage. For purposes of determining whether the Performance Goals have been achieved, calculations will be adjusted for Extraordinary Events as defined in Section 2.20 of the Plan.