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Common use of Performance Goal Clause in Contracts

Performance Goal. The payment of a Performance Unit will be determined based on the comparison of (i) the Total Return (as defined below) of a Common Unit for the Performance Period to (ii) the Total Return of a share of the common stock/unit of each member of the Peer Group for the Performance Period. Total Return shall be measured by (i) subtracting the average closing price per share/unit for the first ten trading days of the Performance Period (the “Beginning Price”) from the sum of (a) the average closing price per share/unit for the last ten trading days ending on the date that is the last day of the Performance Period plus (b) the aggregate amount of dividends/distributions paid with respect to a share/unit during such period (the result being referred to as the “Value Increase”) and (ii) dividing the Value Increase by the Beginning Price. Total Return compared to Peer Group Total Return Performance Percentage1 75th Percentile 150 % 50th Percentile 100 % 25th Percentile 25 % Below 25th Percentile2 0 % 1 The Performance Percentage between the 25th Percentile and the 50th Percentile is a percentage based on a straight-line interpolation between 25% and 100% based on a comparison of the Total Returns described above, and the Performance Percentage between the 50th Percentile and the 75th Percentile is a percentage based on a straight-line interpolation between 100% and 150% based on a comparison of the Total Returns described above. 2 The 25th Percentile is the minimum Performance Goal for which there is a Performance Percentage.

Appears in 4 contracts

Samples: Performance Unit Grant Agreement (Targa Resources Partners LP), Performance Unit Grant Agreement (Targa Resources Partners LP), Performance Unit Grant Agreement (Targa Resources Partners LP)

Performance Goal. The payment of a Performance Unit will be determined based on the comparison of (i) the Total Return (as defined below) of a Common Unit for the Performance Period to (ii) the Total Return of a share of the common stock/unit of each member of the Peer Group for the Performance Period. Total Return shall be measured by (i) subtracting the average closing price per share/unit for the first ten trading days of the Performance Period (the “Beginning Price”) from the sum of (a) the average closing price per share/unit for the last ten trading days ending on the date that is 15 days prior to the last day end of the Performance Period plus (b) the aggregate amount of dividends/distributions paid with respect to a share/unit during such period (the result being referred to as the “Value Increase”) and (ii) dividing the Value Increase by the Beginning Price. Total Return compared to Peer Group Total Return Performance Percentage1 75th Percentile 150 % 50th Percentile 100 % 25th Percentile 25 % Below 25th Percentile2 0 % 1 The Performance Percentage between the 25th Percentile and the 50th Percentile is a percentage based on a straight-line interpolation between 25% and 100% based on a comparison of the Total Returns described above, above and the Performance Percentage between the 50th Percentile and the 75th Percentile is a percentage based on a straight-line interpolation between 100% and 150% based on a comparison of the Total Returns described above. 2 The 25th Percentile is the minimum Performance Goal for which there is a Performance Percentage.

Appears in 1 contract

Samples: Performance Unit Grant Agreement (Targa Resources Partners LP)

Performance Goal. The payment of a Performance Unit will be determined based on the comparison of (i) the Total Return (as defined below) of a Common Unit for the Performance Period to (ii) the Total Return of a share of the common stock/unit of each member of the Peer Group for the Performance Period. Total Return shall be measured by (i) subtracting the average closing price per share/unit for the first ten trading days of the Performance Period (the “Beginning Price”) from the sum of (a) the average closing price per share/unit for the last ten trading days ending on the date that is 15 days prior to the last day end of the Performance Period plus (b) the aggregate amount of dividends/distributions paid with respect to a share/unit during such period (the result being referred to as the “Value Increase”) and (ii) dividing the Value Increase by the Beginning Price. Total Return compared to Peer Group Total Return Performance Percentage1 75th Percentile 150 150% 50th Percentile 100 100% 25th Percentile 25 25% Below 25th Percentile2 0 0% 1 The Performance Percentage between the 25th Percentile and the 50th Percentile is a percentage based on a straight-line interpolation between 25% and 100% based on a comparison of the Total Returns described above, above and the Performance Percentage between the 50th Percentile and the 75th Percentile is a percentage based on a straight-line interpolation between 100% and 150% based on a comparison of the Total Returns described above. 2 The 25th Percentile is the minimum Performance Goal for which there is a Performance Percentage.

Appears in 1 contract

Samples: Performance Unit Grant Agreement (Targa Resources, Inc.)

Performance Goal. The payment of a Performance Unit will be determined based on the comparison of (i) the Total Return (as defined below) of a Common Unit for the Performance Period to (ii) the Total Return of a share of the common stock/unit of each member of the Peer Group for the Performance Period. Total Return shall be measured by (i) subtracting the average closing price per share/unit for the first ten trading days of the Performance Period (the “Beginning Price”) from the sum of (a) the average closing price per share/unit for the last ten trading days ending on the date that is 15 days prior to the last day end of the Performance Period plus (b) the aggregate amount of dividends/distributions paid with respect to a share/unit during such period (the result being referred to as the “Value Increase”) and (ii) dividing the Value Increase by the Beginning Price. Total Return compared to Peer Group Total Return Performance Percentage1 75th Percentile 150 % 50th Percentile 100 % 25th Percentile 25 % Below 25th Percentile2 0 % 1 The Performance Percentage between the 25th Percentile and the 50th Percentile is a percentage based on a straight-line interpolation between 25% and 100% based on a comparison of the Total Returns described above, and the Performance Percentage between the 50th Percentile and the 75th Percentile is a percentage based on a straight-line interpolation between 100% and 150% based on a comparison of the Total Returns described above. 2 The 25th Percentile is the minimum Performance Goal for which there is a Performance Percentage.

Appears in 1 contract

Samples: Performance Unit Grant Agreement (Targa Resources Partners LP)