Performance Restriction. The Performance Restriction shall be satisfied based on three separate Performance Periods, as provided in the table below. Each “Performance Period” shall be a designated calendar year and, taken together, the three Performance Periods make up a three-year period known as the “Measurement Period”, which starts on January 1, 2021 and ends on December 31, 2023. In order for the Units scheduled to vest during a Performance Period to satisfy the Performance Restriction, the Committee must determine that the Company has achieved 6.75% or greater Pre-Tax Margin (defined below) in at least two calendar quarters during such Performance Period. This determination shall occur during the ninety (90) day period following the end of each Performance Period. Performance Period % of Restricted Stock Units January 1, 2021 to December 31, 2021 33.33% January 1, 2022 to December 31, 2022 33.33% January 1, 2023 to December 31, 2023 33.34% For purposes of this Agreement, the following definitions shall apply:
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Samples: Stewart Information Services Corporation (Stewart Information Services Corp), Stewart Information Services Corporation (Stewart Information Services Corp), Stewart Information Services Corporation (Stewart Information Services Corp)
