Payout Multiple definition

Payout Multiple means the number or multiple created

Payout Multiple means the payout multiple set forth in the Lilly Relative Total Shareholder Return Performance Levels table set forth on the first page of this document, representing the attainment level of Xxxxx’x rTSR, measured against the performance goal attainment levels set forth in the table.

Payout Multiple means the payout multiple set forth in the Lilly Relative Total Shareholder Return Performance Levels table set forth on the first page of this document, representing the attainment level of Lilly’s rTSR, measured against the performance goal attainment levels set forth in the table.

Examples of Payout Multiple in a sentence

• The Projected Payout Multiple is derived by dividing the estimated single season Claims-Paying Capacity of the FHCF by the estimated total aggregate industry Reimbursement Premium for the FHCF for the Contract Year.

• The final Payout Multiple is determined once Reimbursement Premiums have been billed as of December 31 and the amount of bond proceeds has been determined.

• The Company’s Reimbursement Premium as paid to the SBA for the Contract Year is multiplied by the Projected Payout Multiple to estimate the Company’s coverage from the FHCF for the Contract Year.

• The Projected Payout Multiple is used to calculate a Company’s projected payout pursuant to Section 215.555(4)(d)2., Florida Statutes.

• Excess loss reimbursements may result from adjustments to the Projected Payout Multiple or the Payout Multiple, incorrect exposure (Data Call) submissions or resubmissions, incorrect calculations of Reimbursement Premiums or Retentions, incorrect Proof of Loss Reports, incorrect calculation of reinsurance recoveries, or subsequent readjustment of policyholder claims, including subrogation and salvage, or any combination of the foregoing.

• However, the Company’s reimbursements from the FHCF for all Covered Events occurring during the Contract Year shall not exceed, in aggregate, the Projected Payout Multiple or Payout Multiple, as applicable, times the individual Company’s Reimbursement Premium for the Contract Year.

• The Participant’s threshold and maximum incentive opportunities will be expressed as a Payout Multiple of the target incentive opportunity and will also be based on the Participant’s role and responsibilities.

• However, the Company's reimbursements from the FHCF for all Covered Events occurring during the Contract Year shall not exceed, in aggregate, the Projected Payout Multiple or Payout Multiple, as applicable, times the individual Company's Reimbursement Premium for the Contract Year.

• In order to determine the Company’s total limit of coverage, the Company’s TICL coverage multiple is added to its regular Payout Multiple under the Reimbursement Contract.

• In order to determine the Company's total limit of coverage, the Company's TICL coverage multiple is added to its regular Payout Multiple under the Reimbursement Contract.

More Definitions of Payout Multiple

Payout Multiple shall be a value equal to:

Payout Multiple means the multiple determined from the following table, based on ROIC (as defined below) during the applicable LTI Performance Period, as determined by the Company: In the event ROIC falls between 8.0% and 12.0% or between 12.0% and 25.0%, linear interpolation shall be used to determine the Payout Multiple. By way of example, if ROIC is 11.0%, then the Payout Multiple will be 0.875x.

Payout Multiple is determined according to the table below using the left column if the Company’s Annualized Stock Price Growth equals or exceeds the median Peer Group Annualized Stock Price Growth and the right column if the Company’s Annualized Stock Price Growth is less than the median Peer Group Annualized Stock Price Growth. Company’s Annualized Stock Price Growth Company’s Annualized Stock Price Growth Equals or Exceeds Median Peer Group Annualized Stock Price Growth Company’s Annualized Stock Price Growth Is Less Than Median Peer Group Annualized Stock Price Growth Payout Multiple* Payout Multiple* Less than 10.0% 0.00 0.00 10.0% (Threshold) 0.25 0.25 11.0% 0.40 0.40 12.0% 0.55 0.55 13.0% 0.70 0.70 14.0% 0.85 0.85 15.0% (Target) 1.00 1.00 16.0% 1.30 1.10 17.0% 1.60 1.20 18.0% 1.90 1.30 19.0% 2.20 1.40 20.0% 2.50 1.50 21.0% 3.00 1.70 22.0% 3.50 1.90 23.0% 4.00 2.10 24.0% 4.50 2.30 At least 25.0% (Maximum) 5.00 2.50 * If the Company’s Annualized Stock Price Growth falls between any two scheduled levels, the actual Payout Multiple for determining the number of PRSUs that will be earned will be calculated using straight line interpolation between such levels. For the avoidance of doubt, if the Company’s Annualized Stock Price Growth is below the Threshold level, no PRSUs will be earned. The Company’s Annualized Stock Price Growth and the Peer Group Annualized Stock Price Growth with respect to any member thereof shall be equitably adjusted to reflect any extraordinary cash dividend, spin off, stock split, reverse stock split, stock dividend, recapitalization or other similar change affecting the number or value of outstanding shares of Common Stock. For purposes of this Exhibit A, the following terms have the following meanings:

Payout Multiple means the quotient of (i) the Net Holdback Fund divided by (ii) $5,000,000; provided, that if the Holdback Fund includes amounts in the Outstanding Claim Reserve and the Holders later become entitled to such amounts then the Payout Multiple for purposes of determining any additional payment to each Holder shall be the quotient of (i) the amount which was previously included in the Outstanding Claim Reserve that is to be paid to the Holders (and, for the avoidance of doubt, excluding the amount which is to be paid to the Lenders in accordance with Loan Interest Payoff Amount (as calculated in accordance with the proviso set forth in the definition of Loan Payout Multiple) and the Convertible Loan Payoff and Release) divided by (ii) $5,000,000.

Payout Multiple means the number or multiple created 922 by dividing the statutorily defined claims-paying capacity as 923 determined in subparagraph (4)(c)1. by the aggregate

Payout Multiple means the number or multiple created by dividing the statutorily defined claims-paying capacity as determined in subpara- graph (4)(c)1. by the aggregate reimbursement premiums paid by all insur- ers estimated or projected as of calendar year-end.