Common use of Performance Goal Condition Clause in Contracts

Performance Goal Condition. The Performance Units are contingently awarded subject to the condition that the number of Performance Units, if any, earned by the Participant upon the expiration of the Award Cycle is dependent (in the manner hereinafter set forth) on the Company’s Average Earnings Per Share Growth during the Award Cycle. Average Earnings Per Share Growth shall mean the amount obtained by multiplying one-third times the percentage increase or decrease in the Company’s earnings per share for the year ended December 31, ____ as compared to the Company’s earnings per share for the year ended December 31, ____, of $____. Thus, for example, if the Company’s earnings per share were $____ for the year ended December 31, ____, the Company’s Average Earnings Per Share Growth would be ____% [1/3 x ($____)]. For purposes of the foregoing, all percentages shall be calculated to the nearest one-hundredth of one percent and the Company’s earnings per share for any year shall be the consolidated diluted earnings per average common share of the Company as reported on the Company’s Consolidated Statement of Income for such year. The number of Performance Units earned for the Award Cycle shall be determined in accordance with the following chart: Performance Units earned for performance between the percentiles shown above will be determined by straight-line interpolation; provided, that, in all cases, the number of Performance Units which the Participant earns shall be a whole number (disregarding any fraction). Any Performance Units awarded hereunder that the Participant does not earn at the end of the Award Cycle pursuant to the foregoing chart shall be forfeited. The provisions of this Section 2 shall not affect in any way any forfeiture under Section 4 below or Section 8(b) of the Plan or any provision regarding the earning of Performance Units at the 100% target level under Section 9 of the Plan upon the occurrence of a Change of Control.

Performance Goal Condition. The Performance Units are contingently awarded subject to the condition that the number of Performance Units, if any, earned by the Participant upon the expiration of the Award Cycle is dependent (in the manner hereinafter set forth) on the Company’s 's Average Earnings Per Share Growth during the Award Cycle. Average Earnings Per Share Growth shall mean the amount obtained by multiplying one-third times the percentage increase or decrease in the Company’s 's earnings per share for the year ended December 31, ____ as compared to the Company’s 's earnings per share for the year ended December 31, ____, of $____. Thus, for example, if the Company’s 's earnings per share were $____ for the year ended December 31, ____, the Company’s 's Average Earnings Per Share Growth would be ____% [1/3 x ($____/$____)]. For purposes of the foregoing, all percentages shall be calculated to the nearest one-hundredth of one percent and the Company’s 's earnings per share for any year shall be the consolidated diluted earnings per average common share of the Company as reported on the Company’s 's Consolidated Statement of Income for such year. The number of Performance Units earned for the Award Cycle shall be determined in accordance with the following chart: Performance Units earned for performance between the percentiles shown above will be determined by straight-line interpolation; provided, that, in all cases, the number of Performance Units which the Participant earns shall be a whole number (disregarding any fraction). Any Performance Units awarded hereunder that the Participant does not earn at the end of the Award Cycle pursuant to the foregoing chart shall be forfeited. The provisions of this Section 2 shall not affect in any way any forfeiture under Section 4 below or Section 8(b) of the Plan or any provision regarding the earning of Performance Units at the 100% target level under Section 9 of the Plan upon the occurrence of a Change of Control.

Performance Goal Condition. The Performance Units are contingently awarded subject to the condition that the number of Performance Units, if any, earned by the Participant upon the expiration of the Award Cycle is dependent (in the manner hereinafter set forth) on the Company’s Average Earnings Per Share Utility EPS Growth during the Award Cycle. Average Earnings Per Share Utility EPS Growth shall mean the amount obtained by multiplying one-third times the percentage increase or decrease in the Company’s earnings per share Utility EPS (as hereinafter defined) for the year ended December 31, __________ as compared to the Company’s earnings per share for the year ended December 31, ____, of $____. Thus, for example, if the Company’s earnings per share were $____ for the year ended December 31, ____, the Company’s Average Earnings Per Share Growth would be ____% [1/3 x ($____)]. For purposes of the foregoing, all percentages shall be calculated to the nearest one-hundredth of one percent and the Company’s earnings per share for any year shall be the consolidated diluted earnings per average common share of the Company as reported on the Company’s Consolidated Statement of Income for such yearpercent. The number of Performance Units earned for the Award Cycle shall be determined in accordance with the following chart: Performance Units earned for performance between the percentiles shown above will be determined by straight-line interpolation; provided, that, in all cases, the number of Performance Units which the Participant earns shall be a whole number (disregarding any fraction). Any Performance Units awarded hereunder that the Participant does not earn at the end of the Award Cycle pursuant to the foregoing chart shall be forfeited. The provisions of this Section 2 shall not affect in any way any forfeiture under Section 4 below or Section 8(b) of the Plan or any provision regarding the earning of Performance Units at the 100% target level under Section 9 of the Plan upon the occurrence of a Change of Control.

Performance Goal Condition. The Performance Units are contingently awarded subject to the condition that the number of Performance Units, if any, earned by the Participant upon the expiration of the Award Cycle is dependent (in the manner hereinafter set forth) on the Company’s Average Earnings Per Share Growth during the Award Cycle. Average Earnings Per Share Growth shall mean the amount obtained by multiplying one-third times the percentage increase or decrease in the Company’s earnings per share for the year ended December 31, ____ 2011 as compared to the Company’s earnings per share for the year ended December 31, _____, of $_____. Thus, for example, if the Company’s earnings per share were $_____ for the year ended December 31, ____, the Company’s Average Earnings Per Share Growth would be _____% [1/3 x ($_____)]. For purposes of the foregoing, all percentages shall be calculated to the nearest one-hundredth of one percent and the Company’s earnings per share for any year shall be the consolidated diluted earnings per average common share of the Company as reported on the Company’s Consolidated Statement of Income for such year. The number of Performance Units earned for the Award Cycle shall be determined in accordance with the following chart: Performance Units earned for performance between the percentiles shown above will be determined by straight-line interpolation; provided, that, in all cases, the number of Performance Units which the Participant earns shall be a whole number (disregarding any fraction). Any Performance Units awarded hereunder that the Participant does not earn at the end of the Award Cycle pursuant to the foregoing chart shall be forfeited. The provisions of this Section 2 shall not affect in any way any forfeiture under Section 4 below or Section 8(b) of the Plan or any provision regarding the earning of Performance Units at the 100% target level under Section 9 of the Plan upon the occurrence of a Change of Control.