Annual Performance Target definition

Annual Performance Target means, with respect to each Fiscal Year, the EBITDA and total debt-to-EBITDA targets for such Fiscal Year as set by the Compensation Committee; provided, that if the Company consummates a significant acquisition, disposition or other corporate transaction that, in the judgment of the Compensation Committee, would reasonably be expected to impact the consolidated earnings of the Company, the Annual Performance Target for the relevant Fiscal Years may be appropriately adjusted by the Compensation Committee to reflect such transaction or series of transactions. The Compensation Committee shall establish the Annual Performance Target for each Fiscal Year within 30 days after the beginning of each such Fiscal Year.
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Annual Performance Target. As used herein, an “Annual Performance Target” means for each Annual Performance Period as set forth below, either the TSR Measurement Price (as defined below) for the Annual Performance Period is equal to or greater than the corresponding minimum TSR Measurement Price set forth in the table below or Earnings Per Share (as defined below) for the Annual Performance Period is equal to or greater than the corresponding minimum Earnings Per Share set forth in the table below: [table follows on next page] April 1, 2013 – March 31, 2014 $5.7669 The number that represents 15% growth in EPS during the Annual Performance Period over the baseline value of $0.104 April 1, 2014 – March 31, 2015 $6.6319 The number that represents 15% growth in EPS during the Annual Performance Period over the value calculated for the previous Annual Performance Period April 1, 2015 – March 31, 2016 $7.6267 The number that represents 15% growth in EPS during the Annual Performance Period over the value calculated for the previous Annual Performance Period April 1, 2016 – March 31, 2017 $8.7707 The number that represents 15% growth in EPS during the Annual Performance Period over the value calculated for the previous Annual Performance Period *Calculated in US dollars. All calculations with respect to Performance Targets will be made using an exchange ratio that represents the average exchange ratio over the relevant 20-day period set forth in the definition of TSR Measurement Price. The respective minimum TSR Measurement Prices set forth in the table above will be reduced by the per share amount of any dividends or distributions made during the relevant Performance Period (and any Performance Periods preceding the relevant Performance Period).
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Examples of Annual Performance Target in a sentence

  • In the event that an Annual Performance Target is not achieved in a particular Fiscal Year, the vesting of the Performance Option shall accelerate if the subsequent Annual Performance Target(s) are achieved, such that the Performance Option shall vest as if all prior Annual Performance Targets had been met.

  • In the event that an Annual Performance Target is not achieved in a particular Fiscal Year, the vesting of the Performance Option shall accelerate if both Annual Performance Targets are achieved in any subsequent fiscal year, such that the Performance Option shall vest as if all prior Annual Performance Targets had been met.

  • Fifty percent (50%) of the Total Potential Bonus (the "Annual Performance Target Bonus") will initially be based on the goals to be determined in the discretion of the Compensation Committee for fiscal year 2014.

  • Company does not achieve the Annual Performance Target for FY [ ], but it does achieve the Cumulative EBITDA Target for FY [ ].

  • In the event that, while the Awardee is employed by the Company, and prior to the Determination Date for an Annual Performance Target, the Awardee dies or becomes Disabled (as defined in Exhibit B), the Awardee shall be entitled to 62,500 Performance Shares plus the number of Performance Shares eligible to be earned under this PSU Agreement for any Annual Performance Period subsequent to the Annual Performance Period in which death or Disability occurs.

  • Company achieves the Annual Performance Target for FY [ ] and the Cumulative EBITDA Target for FY [ ], so the [ ]% of the Performance Option eligible to vest in respect of FY [ ] becomes vested pursuant to the Primary Vesting Method on the second anniversary of the Grant Date, and the [ ]% of the FY [ ] Performance Option also becomes vested on the second anniversary of the Grant Date pursuant to the Missed Year Catch-up Vesting, because the Cumulative EBITDA Target for FY [ ] was achieved.

  • If the Annual Performance Target is achieved for an Annual Performance Period, the Awardee will become entitled to 62,500 Performance Shares on the Determination Date for such Annual Performance Period, provided that the Awardee is in the employ of the Company on the last day of such Annual Performance Period.

  • Company does not achieve the Annual Performance Target for FY [ ] or the Cumulative EBITDA Target for FY [ ], so the [ ]% of the Performance Option eligible to vest in respect of FY [ ] (the “FY [ ] Performance Options”) does not become immediately vested on the first anniversary of the Grant Date.

  • Company does not achieve the Annual Performance Target for FY [ ] or the Cumulative EBITDA Target for FY [ ], so the [ ]% of the Performance Restricted Stock Units eligible to vest in respect of FY [ ] (the “FY [ ] Performance Restricted Stock Units”) does not become immediately vested.

  • Company does not achieve the Annual Performance Target for FY 2012, but it does achieve the Cumulative EBITDA Target for FY 2013.