Common use of Performance Multiplier Clause in Contracts

Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be determined based on the achievement of the Performance Goals described in the table below. Market Share % of Comparator Group Market Share % of Comparator Group Market Share 100 % 160 % Revenue Growth (YOY in $millions) 100 % 140 % If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( % of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( % of Comparator Group Market Share), but is less than the Stretch Market Share ( % of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( % of Comparator Group Market Share), the Performance Multiplier shall be 160%. Similarly, if the Company’s Revenue for the Performance Measurement Period equals or is less than the Threshold Revenue ( million), no Performance Multiplier shall apply to the Revenue portion. If the Company’s Revenue for the Performance Measurement Period exceeds the Threshold Revenue ( million) but is less than the Stretch Revenue ( million), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140%). If the Company’s Revenue for the Performance Measurement Period equals or exceeds the Stretch Revenue ($ million), the Performance Multiplier shall be 140%. Whether the Market Share Goal and/or Revenue Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Performance Based Restricted Stock Units Award Agreement (On Semiconductor Corp)

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Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ $_____ million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be determined based on the achievement of the Performance Goals described in the table below. PERFORMANCE MULTIPLIER GOALS Performance Multiplier Goal Threshold Stretch Threshold Performance Multiplier Stretch Performance Multiplier Market Share ___% of Comparator Group Market Share ___% of Comparator Group Market Share 100 100% 160 160% Revenue Growth (YOY $ in $millions) 100 $_____ $_____ 100% 140 140% If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( (___% of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( (___% of Comparator Group Market Share), but is less than the Stretch Market Share ( (___% of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( (___% of Comparator Group Market Share), the Performance Multiplier shall be 160%. Similarly, if the Company’s Revenue for the Performance Measurement Period equals or is less than the Threshold Revenue ( ($_____ million), no Performance Multiplier shall apply to the Revenue portion. If the Company’s Revenue for the Performance Measurement Period exceeds the Threshold Revenue ( ($______ million) but is less than the Stretch Revenue ( ($_______ million), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140%). If the Company’s Revenue for the Performance Measurement Period equals or exceeds the Stretch Revenue ($ million$_____M), the Performance Multiplier shall be 140%. Whether the Market Share Goal and/or Revenue Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Performance Based Restricted Stock Units Award Agreement

Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ $1,525 million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be determined based on the achievement of the Performance Goals described in the table below. Market Share 7.024% of Comparator Group Market Share 7.340% of Comparator Group Market Share 100 100% 160 150% Revenue Growth (YOY in $millions) 100 Free Cash Flow $ 550M $ 650M 100% 140 150% If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( (7.024% of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( (7.024% of Comparator Group Market Share), but is less than the Stretch Market Share ( (7.340% of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160150%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( (7.340% of Comparator Group Market Share), the Performance Multiplier shall be 160150%. Similarly, if the Company’s Revenue Free Cash Flow for the Performance Measurement Period equals or is less than the Threshold Revenue ( Free Cash Flow ($550 million), no Performance Multiplier shall apply to the Revenue Free Cash Flow portion. If the Company’s Revenue Free Cash Flow for the Performance Measurement Period exceeds the Threshold Revenue ( Free Cash Flow ($550 million) but is less than the Stretch Revenue ( Free Cash Flow ($650 million), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140150%). If the Company’s Revenue Free Cash Flow for the Performance Measurement Period equals or exceeds the Stretch Revenue Free Cash Flow ($ $650 million), the Performance Multiplier shall be 140150%. Whether the Market Share Goal and/or Revenue Free Cash Flow Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Performance Based Restricted Stock Units Award Agreement (On Semiconductor Corp)

Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be determined based on the achievement of the Performance Goals described in the table below. Market Share % of Comparator Group Market Share % of Comparator Group Market Share 100 % 160 % Revenue Growth (YOY in $millions) Rate % % 100 % 140 % If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( % of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( % of Comparator Group Market Share), but is less than the Stretch Market Share ( % of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( % of Comparator Group Market Share), the Performance Multiplier shall be 160%. Similarly, if the Company’s Revenue Growth Rate for the Performance Measurement Period equals or is less than the Threshold Revenue ( million)Growth Rate, no Performance Multiplier shall apply to the Revenue Growth Rate portion. If the Company’s Revenue Growth Rate for the Performance Measurement Period exceeds the Threshold Revenue ( million) Growth Rate but is less than the Stretch Revenue ( million)Growth Rate, the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140%). If the Company’s Revenue Growth Rate for the Performance Measurement Period equals or exceeds the Stretch Revenue ($ million)Growth Rate, the Performance Multiplier shall be 140%. Whether the Market Share Growth Rate Performance Goal and/or Revenue Growth Rate Performance Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Performance Based Restricted Stock Units Award Agreement (On Semiconductor Corp)

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Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ $_____ million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be determined based on the achievement of the Performance Goals described in the table below. Market Share % of Comparator Group Market Share % of Comparator Group Market Share 100 % 160 % Revenue Growth (YOY in $millions) 100 % 140 % If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( (___% of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( (___% of Comparator Group Market Share), but is less than the Stretch Market Share ( (___% of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( (___% of Comparator Group Market Share), the Performance Multiplier shall be 160%. Similarly, if the Company’s Revenue for the Performance Measurement Period equals or is less than the Threshold Revenue ( ($_____ million), no Performance Multiplier shall apply to the Revenue portion. If the Company’s Revenue for the Performance Measurement Period exceeds the Threshold Revenue ( ($______ million) but is less than the Stretch Revenue ( ($_______ million), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140%). If the Company’s Revenue for the Performance Measurement Period equals or exceeds the Stretch Revenue ($ million$_____M), the Performance Multiplier shall be 140%. Whether the Market Share Goal and/or Revenue Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Performance Based Restricted Stock Units Award Agreement (On Semiconductor Corp)

Performance Multiplier. If the Company’s Adjusted Non-GAAP EBITDA for the Performance Measurement Period equals or exceeds the Target performance level ($ $2,000 million), the Company, or the Committee with respect to grants to employees who are Covered Employees, shall increase the number of Units earned pursuant to Section 2.1 by multiplying the earned Units by a Performance Multiplier. The applicable Performance Multiplier shall be performance multiplier determined based on the achievement of the Performance Goals described in the table belowbelow (the “Performance Multiplier”). Market Share 7.215% of Comparator Group Market Share 7.530% of Comparator Group Market Share 100 100% 160 150% Revenue Growth (YOY in Free Cash Flow $millions) 100 975M $1,250M 100% 140 150% If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or is less than the Threshold Market Share ( (7.215% of Comparator Group Market Share), no Performance Multiplier shall apply to the Market Share portion. If the Company’s Market Share at the conclusion of the Performance Measurement Period exceeds the Threshold Market Share ( (7.215% of Comparator Group Market Share), but is less than the Stretch Market Share ( (7.530% of Comparator Group Market Share), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (160150%). If the Company’s Market Share at the conclusion of the Performance Measurement Period equals or exceeds the Stretch Market Share ( (7.530% of Comparator Group Market Share), the Performance Multiplier shall be 160150%. Similarly, if the Company’s Revenue Free Cash Flow for the Performance Measurement Period equals or is less than the Threshold Revenue ( Free Cash Flow ($975 million), no Performance Multiplier shall apply to the Revenue Free Cash Flow portion. If the Company’s Revenue Free Cash Flow for the Performance Measurement Period exceeds the Threshold Revenue ( Free Cash Flow ($975 million) but is less than the Stretch Revenue ( Free Cash Flow ($1,250 million), the applicable Performance Multiplier will be determined by applying straight line interpolation between the Threshold Performance Multiplier (100%) and Stretch Performance Multiplier (140150%). If the Company’s Revenue Free Cash Flow for the Performance Measurement Period equals or exceeds the Stretch Revenue Free Cash Flow ($ $1,250 million), the Performance Multiplier shall be 140150%. For the avoidance of doubt, the Units granted under this Award shall not exceed twice the Units earned pursuant to Section 2.1. Whether the Market Share Goal and/or Revenue Free Cash Flow Goal for the Performance Measurement Period have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 2.8 below.

Appears in 1 contract

Samples: Stock Incentive Plan Agreement (On Semiconductor Corp)

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