Performance Contingency. The “Performance Contingency” is satisfied if for the second year, for the third year or for the fourth year of the Performance Period, the Company’s adjusted annual Net Income from Continuing Operations (“Net Income from Continuing Operations”) is at least % of the adjusted Net Income from Continuing Operations for the year ending immediately prior to the beginning of the Performance Period (based on compounded annual Net Income growth from Continuing Operations of % per year times three years). More specifically, the Performance Contingency is satisfied if on , 20 , or on , 20 , or on , 20 , the Company’s adjusted Net Income from Continuing Operations is at least % of the 20 year-end adjusted Net Income from Continuing Operations. To determine whether the Performance Contingency is satisfied, Net Income from Continuing Operations will be calculated excluding the effects of the following, if the amount is over $4,000,000 on a pre-tax basis and is not considered in the annual budget approved by the Board of Directors: (i) charges for reorganizing and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of an asset or business; (v) mergers, acquisitions or dispositions; and (vii) extraordinary, unusual and/or non-recurring items of gain or loss, that in all of the foregoing the Company identifies in its audited financial statements, including footnotes, or the Management’s Discussion and Analysis section of the Company’s periodic reports.
Performance Contingency. The “Performance Contingency” is satisfied if for the second year, for the third year or for the fourth year of the Performance Period, the Company’s annual Net Income from Continuing Operations (“Net Income from Continuing Operations”) is at least % (i.e., compounded annual return of __% for a three year period) of the adjusted net income for 20 . More specifically, the Performance Contingency is satisfied if on , 20 , or on , 20 , or on , 20 , the Company’s Net Income from Continuing Operations is at least % of the 20 year-end adjusted Net Income from Continuing Operations. To determine whether the Performance Contingency is satisfied, Net Income from Continuing Operations will be calculated excluding the effects of the following, if the amount is over $4,000,000 on a pre-tax basis and is not considered in the annual budget approved by the Board of Directors: (i) charges for reorganizing and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of an asset or business; (v) mergers, acquisitions or dispositions; and (vii) extraordinary, unusual and/or non-recurring items of gain or loss, that in all of the foregoing the Company identifies in its audited financial statements, including footnotes, or the Management’s Discussion and Analysis section of the Company’s periodic reports.
Performance Contingency. The “Performance Contingency” is satisfied if for the second year, for the third year or for the fourth year of the Performance Period, the Company’s annual Net Income from Continuing Operations (“Net Income from Continuing Operations”) is at least 119% of the Net Income from Continuing Operations for the year ending immediately prior to the beginning of the Performance Period (based on compounded annual Net Income growth from Continuing Operations of 6% per year times three years). More specifically, the Performance Contingency is satisfied if on December 31, 2010, or on December 31, 2011, or on December 31, 2012, the Company’s Net Income from Continuing operations is at least 119% of the 2008 year-end Net Income from Continuing Operations.
Performance Contingency. The Award will be based on the Company’s annual Net Income from Continuing Operations (“Net Income from Continuing Operations”). To determine whether the Performance Contingency is satisfied, Net Income from Continuing Operations will be calculated excluding the effects of the following, if the amount is over $4,000,000 on a pre-tax basis and is not considered in the annual budget approved by the Board: (i) charges for reorganizing and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of an asset or business; (v) mergers, acquisitions or dispositions; and (vi) extraordinary, unusual and/or non-recurring items of gain or loss, that in all of the foregoing the Company identifies in its audited financial statements, including notes to the financial statements (i.e., footnotes), or the Management’s Discussion and Analysis section of the Company’s periodic reports.
Performance Contingency. The “Performance Contingency” is satisfied if for the second year, for the third year or for the fourth year of the Performance Period the dollar amount of the Company’s annual earnings per share (“EPS”) is at least 116% of the EPS for the year ending immediately prior to the beginning of the Performance Period.
Performance Contingency. Except as provided in this Paragraph 2(b) or in Paragraph 6 below, all Restricted Shares shall be held by the Grantee without the rights of sale or transfer and subject to forfeitures as provided herein (the "Performance Contingency"). If Total Return to Shareholders of the Company (as defined below) at the end of the Performance Period, when calculated by the Company and approved by the Committee is (i) less than the 25th percentile of the Total Return to Shareholders of the Peer Group (as defined below), all Restricted Shares will be forfeited by the Grantee and become the property of the Company; (ii) greater than or equal to the 25th percentile of the Total Return to Shareholders of the Peer Group, the restrictions on transfer shall lapse with respect to 50% of the Restricted Shares; (iii) greater than or equal to the 50th percentile of the Total Return to Shareholders of the Peer Group, the restrictions on transfer will lapse as to 100% of the Restricted Shares; and (iv) greater than or equal to the 75th percentile of the Total Return to Shareholders of the Peer Group, the Company shall grant to the Grantee additional shares of the Company's common stock equal to 50% of the total Restricted Shares, with no restrictions.
Performance Contingency. The Performance-Contingent Deferred Stock entitles the Recipient to receive shares of CDI Stock if certain levels of EVA Growth are achieved. The percentage of the shares of Performance-Contingent Deferred Stock granted to the Recipient which will be converted into shares of CDI Stock is indicated in the table below. Less than 2% 0% From 2% to 4% 25% From greater than 4% to 6% 50% From greater than 6% to 8% 75% Greater than 8% 100% No shares of CDI Stock shall be earned by the Recipient unless both (a) EVA in 2005 is greater than zero and (b) the EVA in 2005 is at least 2% greater than the EVA in 2004. For all shares of Performance-Contingent Deferred Stock which are earned by the Recipient, a stock certificate representing an equal number of shares of CDI Stock will be delivered to the Recipient soon after the Determination Date. The number of shares of CDI Stock payable to the Recipient shall be decreased in accordance with Section 5 below regarding tax withholding. If the Recipient’s employment with the Company terminates for any reason prior to the Determination Date, none of the shares of Performance-Contingent Deferred Stock will be earned and such shares shall be forfeited as of the date that Recipient’s employment with the Company terminates; provided, however, that if the Recipient’s employment with the Company terminates as a result of death, Disability or Retirement, shares of CDI Stock corresponding to any shares of Performance-Contingent Deferred Stock earned will be delivered to the Recipient or his estate.
Performance Contingency. The “Performance Contingency” for this Award is the following performance measure: EPS Growth – EPS Growth is measured as the average of the annual earnings per share of Common Stock for the Company’s fiscal years 2008, 2009 and 2010. The Threshold, Target, and High Performance levels of performance and performance contingent restricted stock (PCRS) as to which restrictions may lapse are as follows: Level of Performance Average of $ per share or above Average of $ per share or above Average of $ per share or above Number of PCRS as to which restrictions lapse [1/3 of PCRS in grant x 70%] [2/3 of PCRS in grant x 70%] [# of PCRS in grant x 70%] Total Shareholder Return for the Company or for a comparator company shall be calculated as follows: Average share price for the 7/1/10 – 9/30/10 quarter + value of reinvested dividends = Total end of performance period value – average share price for the 7/1/07 – 9/30/07 quarter = Total value created in performance period ÷ average share price for the 7/1/07 – 9/30/07 quarter = Total Shareholder Return THIS AGREEMENT, made as of this 5th day of December 2007, between The Laclede Group, Inc. (the “Company”) and Xxxxxxx X. Xxxxxx (the “Participant”). Pursuant to the terms of the Company’s 2006 Equity Incentive Plan, as approved by shareholders in January 2006, (the “Plan”), this Award allows the Participant to earn up to [insert maximum] shares of Common Stock conditioned upon the execution and delivery by the Company and the Participant of this Agreement setting forth the terms and conditions applicable to such award.
Performance Contingency. The “Performance Contingency” for this Award is the following performance measure:
Performance Contingency. The “Performance Contingency” is satisfied if for the second year, for the third year or for the fourth year of the Performance Period, the Company’s annual adjusted Net Income from Continuing Operations (“Net Income from Continuing Operations”) is at least 119% of the adjusted Net Income from Continuing Operations for the year ending immediately prior to the beginning of the Performance Period (based on compounded annual Net Income growth from Continuing Operations of 6% per year over three years). More specifically, the Performance Contingency is satisfied if on December 31, 2011, or on December 31, 2012, or on December 31, 2013, the Company’s adjusted Net Income from Continuing operations is at least 119% of the 2009 year-end adjusted Net Income from Continuing Operations, as adjusted to exclude such events as approved by the Committee.
