Payout Factor shall be rounded to the nearest hundredth (two places after the decimal), except that if the “Payout Factor” equals more than 2.00, the Payout Factor used in Column C shall be 2.00.
Payout Factor means:
Payout Factor means, for each Market Share Unit that is contributed to a Participant’s Market Share Unit Deferral Account, the Share Price at the end of the Performance Period of such Market Share Unit divided by the Share Price on the date of such contribution, with the quotient rounded to the nearest hundredth (two places after the decimal); provided, however, that if the Payout Factor equals more than 2.00, the Payout Factor shall be 2.00.
Examples of Payout Factor in a sentence
For each Tranche, the Company shall multiply the Payout Factor for such Tranche by the Target Number of MSUs subject to the Tranche, and the resulting number of MSUs shall vest in full and become Vested MSUs on the Vesting Date set forth below for that Tranche, in each case subject to the Grantee’s continuous employment with the Company or a Subsidiary until each such date.
Target Number of MSUs The Target Number of MSUs has been divided into the following three Tranches (each, a “Tranche”), each with a corresponding “Performance Period” with respect to which the Payout Factor will be determined.
For avoidance of doubt, MSUs subject to Tranche One and/or Tranche Two that became Vested MSUs on the Vesting Date applicable to such Tranche shall not be subject to adjustment or clawback if the Payout Factor for Tranche Three is lower than the Payout Factor that was previously determined for such Tranche.
More Definitions of Payout Factor
Payout Factor is the percentage determined under this Section 2. The Payout Factor is based on the Company’s TSR Percentile Rank among the TSR comparator group for the Performance Period. The “Initial Payout Factor” is determined in accordance with the following schedule: Company’s TSR Percentile Rank Initial Payout Factor > 75th %ile 200% > 50th %ile 100% > 30th %ile 30% < 30th %ile 0% The Initial Payout Factor will be interpolated for TSR Percentile Rank between discrete points, from a minimum Initial Payout Factor of 30 percentage points to a maximum Initial Payout Factor of 200 percentage points The Initial Payout Factor will be increased by 15 percentage points to determine the maximum Payout Factor (the “Maximum Payout Factor”), but in no event will the Maximum Payout Factor exceed 215 percentage points. The Committee, in its discretion, may decrease the Maximum Payout Factor by up to 30 percentage points (i.e., a decrease of 15 percentage points from the Initial Payout Factor) to determine the Payout Factor. The Committee, in its discretion, may adjust the amount of any individual’s payout, but the Payout Factor used for such payout may not exceed the Maximum Payout Factor.
Payout Factor means the percentage determined by the Committee and applied to a Target Award to determine the amount of an award to be paid as described in section 4 of the Plan.
Payout Factor means, for any PSU, the percentage, ranging from 0% to 200% (or within such other range as the Board may determine from time to time), quantifying the performance achievement realized on a distribution date determined in accordance with the performance conditions or measures and other terms outlined in the PSU grant letter evidencing such PSU.
Payout Factor means, for any Share Unit, the percentage, ranging from 0% to 200% (or within such other range as the Board determines at the date of grant), quantifying the performance achievement realized on an Entitlement Date determined in accordance with the performance conditions or measures and other terms outlined in the Share Unit grant letter evidencing such Share Unit;
Payout Factor means, for any Share Unit, the percentage, ranging from 0% to 200% (or within such other range as the Board may determine from time to time), quantifying the performance achievement realized on an Entitlement Date determined in accordance with the performance conditions or measures and other terms outlined in the Share Unit grant letter evidencing such Share Unit;
Payout Factor for a Performance Period shall be determined based on the Company’s TSR Percentile Ranking for that Performance Period as follows: TSR Percentile Ranking Payout Factor 75th or higher 200% 50th 100% 25th or below 0% If the Company’s TSR Percentile Ranking for a Performance Period is between two levels set forth in the table above, the Payout Factor for that Performance Period will be determined by linear interpolation between such two levels. In no event shall the Payout Factor for any Performance Period be less than 0% or greater than 200%.
Payout Factor shall be rounded to the nearest hundredth (two places after the decimal), except that if the “Payout Factor” equals more than 2.00, the Payout Factor used in Column E shall be 2.00. Notwithstanding the formula in the table, the Payout Factor for any Vesting Date that occurs on or after a Change in Control (as defined in the Plan) shall equal the Share Price on the Change in Control Date divided by the Share Price on the Award Date. Any MSUs that fail to vest, either because the employment condition is not satisfied or because the Payout Factor on the applicable Vesting Date is less than 60% shall be forfeited, subject to the special provisions set forth in paragraphs (c) through (g) of this Section 2.