Performance Goals Condition Sample Clauses

Performance Goals Condition. Except as otherwise provided herein, achievement of the performance goals condition will be measured by the percentage increase in the Company’s diluted earnings per share (“Diluted EPS”) as of the end of the Performance Period over the Company’s Diluted EPS for the year ended December 31, 2013 (“Base Diluted EPS), subject to the provisions of the Plan, including Section 17(d) thereof, as follows: Increase in Diluted EPS at end of Performance Period Percentage of Performance Shares Subject to Vesting Less than 6% increase over Base Diluted EPS No vesting At least 6% but less than 9% increase over Base Diluted EPS Threshold Vesting (75% of Target Performance Shares) At least 9% but less than 12% increase over Base Diluted EPS Target Vesting (100% of Target Performance Shares) 12% or greater increase over Base Diluted EPS Maximum Vesting (125% of Target Performance Shares) In the event that the Company’s Diluted EPS for any calendar year during the Performance Period falls below the Base EPS, one-third of the Performance Shares will be forfeited and in such event the Participant shall not be entitled to any payment in respect of such forfeited Performance Shares under this Agreement. For purposes of this Agreement, Diluted EPS shall be determined (x) for any full calendar or fiscal year by reference to the calculations of the Company’s earnings per share as set forth in the Company’s audited financial statements for that year and (y) for any period for which audited financial statements are not prepared for the Company, by reference to the pertinent financial records of the Company.
Sample 1Sample 2See All (4)
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Performance Goals Condition. Except as otherwise provided herein, achievement of the performance goals condition will be measured by the Company’s Return on Average Equity, (“ROAE”) measured as the average of TrustCo’s ROAE for each of the three years within the Performance Period as set forth in Paragraph 2 compared with the ROAE of members of the comparative group of peer companies set forth on Exhibit A hereto (the “Peer Group”) during the same period (calculated by determining the performance of the Peer Group in each year and then calculating the three-year average of each member of the Peer Group set forth on Exhibit A), subject to possible adjustment as described below based upon TrustCo’s Earnings Per Share, with vesting occurring at the end of the Performance Period and payout prior to March 15, 2023. The following table outlines the Percentile Ranking and the corresponding adjustment Factor: Return on Average Equity for the Performance Period1 Level Percentile Ranking Factor Maximum 60th percentile or above of the Peer Group 150% Target 50th - 59th percentile of the Peer Group 100% Threshold 40th – 49th percentile of the Peer Group 75% Below 40th percentile of the Peer Group 0% Except as set forth in the next paragraph, the number of Performance Shares that vest shall be determined by multiplying the Factor achieved by the number of Performance Shares granted under the Agreement. Additionally, if non-performing assets to total assets of the Company increases by more than 50% during the Performance Period, the total amount of cash to be paid pursuant to this Award shall be reduced by one quarter. 1 For amounts between the Threshold and Target levels or between the Target and Maximum levels, straight-line interpolation, rounded up to the next whole share, will be used to determine the number of Performance Shares that shall vest.
Sample 1
Performance Goals Condition. Except as otherwise provided herein, achievement of the performance goals condition will be measured by the Company's Return on Average Equity (“ROAE”) measured as the average of TrustCo’s ROAE for each of the three years within the performance period described below compared with the ROAE of members of a comparative group of peer institutions during the same period (calculated by determining the performance of the peer group in each year and then calculating the three-year average of the peer performance as described), subject to possible adjustment as described below based upon TrustCo’s average efficiency ratio over the performance period relative to the peer group’s efficiency ratio over the same period, with vesting and payout occurring at the end of the performance period and payout prior to March 15, 2021. The following table outlines the peer ranking and the corresponding adjustment factor: Return on Average Equity for the Performance Period Level Percentile Ranking Factor Maximum 60th percentile or above of the Peer Group 150% Target 50th - 59th percentile of the Peer Group 100% Threshold 40th – 49th percentile of the Peer Group 75% Below 40th percentile of the Peer Group 0% If the Company’s three-year average efficiency ratio, calculated in a fashion similar to the ROAE calculation described above, is below the 40th percentile of the peer group, the total award is reduced by one third. Performance Period: January 1, 2018 to December 31, 2020 Peer group: Consists of publicly held bank and savings and loan holding companies headquartered in New York, New Jersey and/or Florida with assets of between $2 and $10 billion (as of September 30 of each year), utilizing data which is filed with the appropriate securities regulatory agency.
Sample 1
Performance Goals Condition. Except as otherwise provided herein, achievement of the performance goals condition will be measured by the Company's Return on Average Equity (“ROAE”) measured as the average of TrustCo’s ROAE for each of the three years within the performance period described below compared with the ROAE of members of a comparative group of peer institutions during the same period (calculated by determining the performance of the peer group in each year and then calculating the three-year average of the peer performance as described), subject to possible adjustment as described below based upon TrustCo’s Earnings Per Share, with vesting occurring at the end of the performance period and payout prior to March 15, 2022. The following table outlines the peer ranking and the corresponding adjustment factor: Return on Average Equity for the Performance Period Level Percentile Ranking Factor Maximum 60th percentile or above of the Peer Group 150% Target 50th - 59th percentile of the Peer Group 100% Threshold 40th – 49th percentile of the Peer Group 75% Below 40th percentile of the Peer Group 0% Additionally, if the annualized Earnings Per Share of the Company grows less than 5% during the performance period, the total award shall be reduced by one third. Performance Period: January 1, 2019 to December 31, 2021 Peer Group: Consists of publicly held bank and savings and loan holding companies headquartered in New York, New Jersey and/or Florida with assets of between $2 and $10 billion (as of December 31 of each year), utilizing data which is filed with the appropriate securities regulatory agency. To be included in calculations hereunder, a company must satisfy the definition of a member of the Peer Group for all years in the performance period.
Sample 1
Performance Goals Condition. The Company's Return on Average Equity measured as the average of each of the three years within the defined performance period against a comparative group of peer institutions with vesting and payout occurring at the end of the performance period and payout prior to March 15, 2020. The following table outlines the peer ranking and the corresponding adjustment factor: Return on Average Equity for the Performance Period Percentile Ranking Factor 60th and above percentile of the Peer Group 125% 50th - 59th percentile of the Peer Group 100% 40th – 49th percentile of the Peer Group 75% Below 40th percentile of the Peer Group 0% Performance Period: January 1, 2017 to December 31, 2019 Peer group: Consists of Publicly held bank and thrift holding companies headquartered in New York, New Jersey and or Florida with assets of between $2 and $10 billion (determined measured as of September 30, 2019), utilizing data which is filed with the appropriate securities regulatory agency.
Sample 1
Performance Goals Condition. Except as otherwise provided herein, achievement of the performance goals condition will be measured by the Company's Return on Average Equity, (“ROAE”) measured as the average of TrustCo’s ROAE for each of the three years within the Performance Period as set forth in Paragraph 2 compared with the ROAE of members of the comparative group of peer companies set forth on Exhibit A hereto (the “Peer Group”) during the same period (calculated by determining the performance of the Peer Group in each year and then calculating the three-year average of each member of the Peer Group set forth on Exhibit A expressed as a percentile rank of the Company compared to the members of the Peer Group (“Percentile Rank”), subject to possible adjustment as described below based upon TrustCo’s non-performing assets, with vesting occurring at the end of the Performance Period and payout prior to March 15, 2026. The amount paid out on account of the awards described above shall be determined by multiplying the “Factor” corresponding to the Company’s Percentile Rank by the number of Performance Shares awarded for “Target” performance as listed in paragraph 2 above. The Factor to be applied in this formula shall be plotted on a continuous scale utilizing linear interpolation from the “Threshold” level of performance, below which no payout hereunder shall be made, to the “Maximum” level of performance, at which payout hereunder shall be 150% of the “Target” performance-level award1. The following table describes the range of Percentile Ranking and the corresponding adjustment Factors: 1Share awards calculated hereunder shall be rounded up to the next whole share to determine the number of Performance Shares that shall vest.
Sample 1
Performance Goals Condition. The number of shares of the Company’s Common Stock earned by the Participant for the Performance Period, if any, will be determined by the Compensation Committee of the Board of Directors of the Company (“Committee”) as of the end of the Performance Period based on the level of achievement of the performance goals in accordance with Paragraph 4(d) below. The Committee shall make adjustments in the terms and conditions of, and the criteria included in, the Award in accordance with Section 14(b) of the Plan. Subject to the terms of Sections 4(f) and 4(g) of this Agreement, if the threshold level of the performance goals is not reached for the Performance Period, the Award and the Participant’s right to receive any shares of the Company’s Common Stock with respect to the Performance Period shall automatically expire and be forfeited without payment of any consideration, effective as of the last day of the Performance Period, which shall be deemed to be the Period of Restriction for the purposes of the Plan. All determinations of whether and the extent to which the performance goals have been achieved, the number of shares of the Company’s Common Stock earned by the Participant, if any, and all other matters related to this Paragraph 4 shall be made by the Committee in its sole discretion.
Sample 1
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Related to Performance Goals Condition

  • Performance Goals A. The Trust and State Street have developed mutually acceptable performance goals dated March 1, 2011 , and as may be amended from time to time, regarding the manner in which they expect to deliver and receive the services under this Agreement (hereinafter referred to as “Service Level Agreement”). The parties agree that such Service Level Agreement reflects performance goals and any failure to perform in accordance with the provisions thereof shall not be considered a breach of contract that gives rise to contractual or other remedies. It is the intention of the parties that the sole remedy for failure to perform in accordance with the provisions of the Service Level Agreement, or any dispute relating to performance goals set forth in the Service Level Agreement, will be a meeting of the parties to resolve the failure pursuant to the consultation procedure described in Sections V. B. and V.C. below. Notwithstanding the foregoing, the parties hereby acknowledge that any party’s failure (or lack thereof) to meet the provisions of the Service Level Agreement, while not in and of itself a breach of contract giving rise to contractual or other remedies, may factor into the Trust’s reasonably determined belief regarding the standard of care exercised by State Street hereunder.

  • Performance Criteria The Performance Criteria are set forth in Exhibit A to this Agreement.

  • Performance Objectives Subject to the terms of this Agreement, the Participant’s interest in the Stock Award shall vest and become transferable in accordance with paragraphs 3, 4 and 5 and Exhibit I based on the Company’s Compounded Annual Growth Rate TSR for the applicable measurement period relative to the Compounded Annual Growth Rate TSR for the applicable measurement period for the companies (other than the Company) listed in the NAREIT Hotel Index.

  • Performance Goal (a) Subject to the following sentence, the Performance Goal is set out in Appendix A hereto, which Appendix A is incorporated by reference herein and made a part hereof. Notwithstanding the foregoing, the provisions of Section 13 or any other provision of this Agreement to the contrary, the Committee reserves the right to unilaterally change or otherwise modify the Performance Goal in any manner whatsoever (including substituting a new Performance Goal), but only to the extent that the Committee has first determined that the exercise of such discretion would not cause the Performance Share Units to fail to qualify as “performance-based compensation” under Section 162(m) of the Code. If the Committee exercises such discretionary authority to any extent, the Committee shall provide the Grantee with a new Appendix A in substitution for the Appendix A attached hereto, and such new Appendix A and the Performance Goal set out therein (rather than the Appendix A attached hereto and the Performance Goal set out therein) shall in all events apply for all purposes of this Agreement.

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

  • Performance Condition Notwithstanding the vesting schedule stated in the Award Notification, your Restricted Stock Units shall not vest unless the Company achieves positive Adjusted Net Earnings in any fiscal year during the term of the Award. “Adjusted Net Earnings” means net earnings determined in accordance with GAAP as publicly reported by the Company for a fiscal year, adjusted to eliminate the following: (1) the cumulative effect of changes in GAAP; (2) gains and losses from discontinued operations; (3) extraordinary gains or losses; and (4) any other unusual or nonrecurring gains or losses which are separately identified and quantified, including merger related charges. 

  • Performance Measure The number of Performance Shares earned at the end of the three-year Performance Period will vary depending on the degree to which cumulative adjusted earnings per share performance goals for the Performance Period, as established by the Committee, are met.

  • Performance Conditions The Shares shall be issuable only if (and to the extent) that the Performance Criteria, set forth herein, are satisfied during the Performance Period. The Controller of the Company and the Compensation Committee of the Board of Directors of the Company shall certify whether, and to what extent, the Performance Criteria have been achieved. If the minimum performance is not met, no Shares shall be issued and the Award shall be forfeited.

  • Performance Measures The extent, if any, to which you shall have the right to payment of the Award shall depend upon your satisfying one of the continuous employment conditions set forth in Section 3 and the extent to which the applicable performance measure has been satisfied as of the Final Measurement Date, as specified below: The Award shall have the following performance measures during the Measurement Period:

  • Performance Cycle The Performance Cycle for this Award shall commence on May 1, 2006, and shall end on December 31, 2008.

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