Relative TSR Modifier. The Percentage of Target Award Number is subject to a TSR modifier (upward or downward by [applicable percentage]) based on the Company’s TSR Percentile, as set forth in the table below, subject to the Overall Final Award Cap set forth in paragraph 5 below, and provided that the positive modifier will not be applied if the Company’s TSR is negative. TSR Percentile Percentage TSR Modifier [applicable percentile] [applicable percentage] increase [applicable percentile] [applicable percentage] [applicable percentile] [applicable percentage] decrease
Relative TSR Modifier. After the Level of Achievement of the Relative Performance Goal is determined by the Administrator as provided in this Agreement, the Relative TSR Modifier shall be determined and applied in accordance with the TSR Modifier chart in Exhibit A attached hereto and made a part hereof. As used in this Agreement, “Relative Total Shareholder Return” and “Relative TSR” mean TFC’s total Common Stock shareholder return performance rank defined as a percentile for the Performance Period relative to the range of the Peer Group members’ total common stock shareholder return for the Performance Period. Total shareholder return for TFC and each Peer Group member shall be calculated based upon TFC’s Common Stock and the Peer Group members’ common stock appreciation during the Performance Period plus the value of dividends paid during the Performance Period on such stock (which dividends shall be deemed to have been reinvested in such underlying stock).
Relative TSR Modifier. Relative TSR (Percentile Performance of TFC TSR Relative to Peer Group TSR) TSR Modifier 25th or less 20% Additive reduction in Award payout Greater than 25th but less than 75th 0% Reduction or increase in Award payout 75th or greater 20% Additive increase in Award payout, provided that the maximum Award payout shall be 150% of Target %
Relative TSR Modifier. The final number of Shares to be paid under this Award Agreement will be calculated by adjusting the Participant’s total Preliminarily Adjusted Units upwards or downwards based on the Company’s Relative TSR performance compared to the Peers. The adjustment will be based on the table below. Relative TSR Percentile Rank TSR Modifier 25th Percentile or Less -50% 50th Percentile 0% 75th Percentile or Greater 50% If Relative TSR percentile rank exceeds the 25th percentile and is less than the 50th percentile, or if Relative TSR percentile rank exceeds the 50th percentile and is less than the 75th percentile, the TSR Modifier will be determined by straight-line interpolation between the applicable corresponding percentages set forth in the table. The total Award earned is calculated by first multiplying the number of the Preliminarily Adjusted Units by the TSR Modifier. The sum of (1) the Preliminarily Adjusted Units and (2) the product of the Preliminarily Adjusted Units and the TSR Modifier, not in excess of 225% of the Target Shares, is the Final Adjusted Units. Subject to the maximum value limitation set forth in paragraphs 4c of the Award Agreement, each Final Adjusted Unit represents a right to receive one Share. In no event will the Final Adjusted Units be less than zero. In no event will the number of Shares issued to the Participant under the Award exceed the maximum value limitation set forth in paragraph 4c of the Award Agreement.
Relative TSR Modifier. The Performance Units to be credited from Cash Flow from Operations results for the Performance Period are subject to a potential Relative TSR Modifier. The TSR performance of II-VI will be measured against the components of Xxxxxxx 2000 Index. If TSR performance is aligned with the 75th percentile TSR performance of the Xxxxxxx 2000 Index, the Performance Units credited based on the Cash Flow from Operations results will be multiplied by 125%. For every two percentage points below the 75th percentile TSR of the Xxxxxxx 2000 Index, the multiplier will be reduced by 1% to a minimum of 100% and for every two percentage points above the 75th percentile TSR of the Xxxxxxx 2000 Index, the multiplier will be increased by 1%. If II-VI’s TSR is negative for the three-year performance period, the multiplier will be fixed at 100%. See the table below for further illustration. Multiplier Applied to Performance Units Earned based on Cash Flow from Operations If Cumulative TSR is equal to or more than 50 percentage points below Market 75th Percentile or there is an absolute negative Cumulative TSR 100% If Cumulative TSR is below Market 75th Percentile by less than 50 percentage points and there is an absolute positive Cumulative TSR Subtract 1% from 125% for each 2% below Market 75th Percentile If Cumulative TSR equals Market 75th Percentile 125% If Cumulative TSR is above Market 75th Percentile by less than 50 percentage points Add 1% to 125% for each 2% above Market 75th Percentile If Cumulative TSR is above Market 75th Percentile by more than 50 percentage points 150% Definitions:
Relative TSR Modifier. The “Relative TSR Modifier” shall be determined on the Company’s TSR Percentile for the Performance Cycle, in accordance with the following: TSR Percentile for the Performance Cycle Relative TSR Modifier Threshold ≤ 30th percentile 0.80 Target 55th percentile 1.00 Maximum ≥ 80th percentile 1.20
Relative TSR Modifier. The Relative TSR Modifier is calculated as follows. The Relative TSR shall modify the number of awards granted as shown in the table below, with pro rata increases, at 1/10th of 1% increments, between each listed percentage. ***Table*** Relative TSR is defined as the TSR of the Company as compared to the TSR of the TSR Comparator Group companies. TSR will be calculated based on the following formula: (((Ending share price + total dividends) / beginning share price)^(1/# of years))-1 The result will be expressed as a percentage. For this purpose, the beginning stock price will be the volume-weighted average closing stock price (VWAP) for the 20 trading days immediately preceding the performance period and the ending stock price will be the VWAP in the last 20 trading days of the performance period. Total dividends will be the aggregate amount of dividends per share of common stock, the record date of which occurred during the performance period. The TSR Comparator Group for the Performance Period is Avon Products, Beiersdorf AG, Church & Xxxxxx Inc., The Clorox Company, Colgate-Palmolive Co., Xxxxxxxxx Xxxxx Inc., Hasbro Inc., Xxxxxx XX & CO, Herbalife Ltd., Jarden Corp., Xxxxxxxx-Xxxxx Corporation, Lauder (Estee) Companies, Inc., Loreal Co., Mattel Inc., Xxxx Xxxxxxx Nutrition Co., Xxxxxx Rubbermaid, Inc., Nu Skin Enterprises, Procter & Xxxxxx Co., Reckitt Benckiser Group PLC, Spectrum Brands Holdings Inc. If a member is added or deleted from the TSR Comparator Group during the three-year performance period by the Committee due to a merger, liquidation or other corporate event, such change will be made retroactively to the beginning of such performance period.
Relative TSR Modifier. Your Base Payout Percentage will be adjusted by applying the Relative TSR Multiplier determined by the Company’s Relative TSR percentile during the Performance Period, according to the following schedule. The multiplier will be interpolated for results falling between the levels shown. Relative TSR Percentile Relative TSR Multiplier <25th 0.75 25th 0.75 50th 1.00 75th 1.25 >75th 1.25 The Award’s maximum 200% payout percentage cannot by exceeded by application of the Relative TSR Multiplier. In addition, in the event the Company’s TSR for the Performance Period is negative (Ending Stock Price plus Reinvested Dividends is less than the Beginning Stock Price), application of the Relative TSR Multiplier may not increase the Award’s final payout above 100%. To determine the Company’s Relative TSR percentile rank, the Company’s Total Shareholder Return (“TSR”) during the Performance Period will be compared to the TSR of all the companies in the Industrial, Consumer Discretionary and Materials sectors of the S&P 500 and the S&P 400 (the “Peer Group”). TSR is calculated as follows and assumes dividends are reinvested on the ex-dividend date: Ending Stock Price – Beginning Stock Price + Reinvested Dividends Beginning Stock Price
Relative TSR Modifier. Determination of Conditional PSUs The number of Conditional PSUs with which you are credited, if any, at the end of the Performance Period shall be determined by multiplying (x) the number of Preliminary PSUs, if any, credited following the Initial Measurement Period by (y) the applicable Modification Factor determined in accordance with the following chart based on the Company’s Relative Total Stockholder Return over the Performance Period as compared to the Peer Group (defined below): Company Relative Total Stockholder Return Modification Factor Less than or equal to the 25th percentile of the Peer Group 85% Median (50th percentile) of the Peer Group 100% 75th percentile or greater of the Peer Group 115% Linear Interpolation When the Company’s Relative Total Stockholder Return Period falls between any of the percentiles set forth in the chart above, the Modification Factor shall be determined based on linear interpolation. Company Relative Total Stockholder Return The Company’s Relative Total Stockholder Return measured against the Peer Group shall be determined by first ranking the Company and each of the Peer Companies by their respective Total Stockholder Returns (highest to lowest) over the Performance Period. The Company’s Relative Total Stockholder Return shall be the Company’s percentile ranking determined from such numerical ranking, which percentile ranking shall be calculated as 100 multiplied by a fraction, the numerator of which is (x) the number of Peer Companies that are ranked lower than the Company by their respective Total Stockholder Returns and the denominator of which is (y) the number of Peer Companies in the Peer Group at the time of the determination minus one (1). Total Stockholder Return Total Stockholder Return for the Company and each of the Peer Companies shall be calculated in accordance with the following formula, with the result expressed as a percentage:(EB/BB)1/n - 1For purposes of the foregoing formula:“EB” = the sum of (x) the cumulative amount of the entity’s dividends per share for the Performance Period plus the arithmetic average per share closing price of such entity’s common stock for the last 20 consecutive trading days of the applicable Performance Period “BB” = the arithmetic average per share closing price of such entity’s common stock for the last 20 consecutive trading days prior to the beginning of the Performance Period“n” = the total number of years in the Performance Period. Peer Group The Peer Group for...
Relative TSR Modifier. The Average Percentage of Target Shares Earned determined as described above shall be further adjusted by multiplying such amount by the Relative TSR Modifier (as defined below), which shall be determined in accordance with the schedule set forth below based on the Relative TSR performance during the TSR Modifier Performance Period; provided, however, that if the Company’s TSR during the TSR Modifier Performance Period is negative, the Relative TSR Modifier shall in no event be greater than “No adjustment.” Performance Levels Relative TSR Percentile Relative TSR Modifier Threshold ≤25th .85 multiplier Target 50th No adjustment Maximum ≥75th 1.15 multiplier The modifier shall be determined using straight-line interpolation between the specified performance levels.
