Performance Hurdles definition

Performance Hurdles means any minimum performance requirements (as specified in the Invitation Letter and determined by the Board in its discretion) which must be met prior to Options vesting and being capable of being exercised by a Participant;
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Performance Hurdles shall equal: (i) if Executive is ------------------- terminated after the end of the Company's fiscal year ending March 31, 1998 but prior to the end of the second quarter of the Company's fiscal year ending Xxxxx 00, 0000, XXXXXX for the twelve-month period ending as of the end of the month immediately preceding the termination of at least $6 million; (ii) if Executive is terminated after the end of the second quarter of the Company's fiscal year ending March 31, 1999 but prior to the end of the Company's fiscal year ending Xxxxx 00, 0000, XXXXXX for the twelve-month period ending as of the end of the month immediately preceding the termination of at least $9 million; (iii) if Executive is terminated after the end of the Company's fiscal year ending March 31, 1999 but prior to the end of the Company's fiscal year ending Xxxxx 00, 0000, XXXXXX for the twenty-four month period ending as of the end of the month immediately preceding the termination of at least $24 million; and (iv) if Executive is terminated after the end of the Company's fiscal year ending Xxxxx 00, 0000, XXXXXX for the twenty-four month period ending as of the end of the month immediately preceding the termination of at least $28 million. For purposes of determining whether the Performance Hurdle has been achieved, the Company's actual cumulative EBITDA will be determined by reference to the Company's annual audited financial statements (for all completed fiscal years within the measurement period) and monthly or other interim financial statements provided to the Company's lenders (for interim periods).
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Performance Hurdles means, for any fiscal quarter, the time at which (a) the Leverage Ratio is less than 95% of the maximum Leverage Ratio permitted under the Credit Agreement and (b) the Fixed Charges Ratio is greater than 105% of the minimum Fixed Charges Ratio permitted under the Credit Agreement.
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Examples of Performance Hurdles in a sentence

  • Reporting Date means the date determined by RemCo in its absolute discretion after the end of the Performance Period, on which Participants are advised whether the Performance Hurdles for the relevant Performance Shares have been satisfied.

  • Through the Adjusted EBITDA Certification Date, the Committee shall retain discretion to decrease Performance Hurdles (or otherwise make adjustments that increase the likelihood of Performance Hurdles being achieved) at any time.

  • In addition, for purposes of determining whether the Performance Hurdles and the Management Targets have been achieved, EBITDA shall be determined without giving effect to any (i) extraordinary items of loss or gain, (ii) fees payable by the Company to Xxxx Capital, Inc.

  • Through the Adjusted EBITDA Certification Date, the Committee may, within 90 days of the discovery of all relevant material facts relating to a Material Accretion Event (as defined below) by the Committee, increase Performance Hurdles (or otherwise make adjustments that decrease the likelihood of Performance Hurdles being achieved).

  • Furthermore, the Committee shall, within 90 days of the discovery of all relevant material facts relating to a Material Reduction Event (as defined below) by the Committee, decrease Performance Hurdles (or otherwise make adjustments that increase the likelihood of Performance Hurdles being achieved), such that, in the Committee’s good faith and sole judgment, the likelihood of achievement of the various Performance Hurdles as adjusted is no less likely than prior to the Material Reduction Event.

  • Any such adjustment shall be made such that, in the Committee’s good faith and sole judgment, the likelihood of achievement of the various Performance Hurdles is no less likely than prior to the Material Accretion Event.

  • Performance Share means an option or a conditional right granted under clause 4 to acquire a Share on the terms set out in the LTIP for the relevant Performance Year, subject to the Performance Hurdles.

  • Subject to clause 7.3, clauses 9 to 12 and the remainder of this clause 4.2, Performance Shares will become exercisable or be awarded if and to the extent that the Performance Hurdles applicable to those Performance Shares are met.

  • Upon termination of Service due to the Participant’s death, disability or Qualified Retirement, (i) the Participant will receive accelerated vesting with respect to (A) 50% of the unvested Units in the event that one, but not both, of the 2014 Performance Hurdles is satisfied and (B) 100% of the unvested Units in the event that both of the 2014 Performance Hurdles are satisfied and (ii) any remaining holding periods will be waived.

  • Where a Participant leaves the employment of a Group Company because of an Uncontrollable Event, then the Participant's Performance Shares will become immediately exercisable or be immediately Awarded (without satisfaction of the Performance Hurdles) and, where relevant, may be exercised by his or her personal representatives.


More Definitions of Performance Hurdles

Performance Hurdles means any ongoing minimum performance requirements (as specified in the Invitation Letter and determined by the Board in its sole and absolute discretion) which must be met prior to Options and/or Performance Rights (as the case may be) vesting in a Participant;
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Performance Hurdles means the performance, vesting and/or other criteria (if any), which are determined by the Board and notified to the invited Employee or Officer with an invitation under Rule 2.2, and which are required to be met before Plan Shares to which such invitation relates may be withdrawn from the Plan by the Participating Employee or Officer, as reduced (if at all) or waived in whole or in part at any time by the Board and notified to the Participating Employee or Officer.
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Performance Hurdles means the conditions relating to the performance of the Group (and the manner in which those conditions will be tested) for the purposes of determining the number of a Participant's Performance Rights which may be exercised, as set out in the Invitation;
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Performance Hurdles means the set of performance measures established on an annual basis by the PlanCo Board (based on the recommendations of the Medical Affairs Committee) for purposes of evaluating the quality of care provided to Enrollees in the NC Health Plan, which measures are expected to be derived from (a) the Healthcare Effectiveness Data and Information Set established by the National Committee for Quality Assurance on an annual basis; (b) other performance measures established by the NCDHB for insurance plans operating under an NCDHB Contract; and (c) such other quality-based performance measures (e.g., electronic claim rates, provider directory accuracy and electronic funds transfer sign-up rates) as may be agreed upon by the Parties; provided that during the stub period starting on the Effective Date and ending on December 31st of the same calendar year, the performance measures will be comprised only of the types of measures described in clauses (b) and (c) of this sentence due to the likely unavailability of Healthcare Effectiveness Data and Information Set data for PlanCo. Examples of the types of performance measures the Parties intend to be established from time to time by the PlanCo Board (based on the recommendations of the Medical Affairs Committee) are set forth on Exhibit A hereto.
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Performance Hurdles means the performance, vesting and/or other criteria, which are determined by the Board and specified in the Invitation, and which are required to be met before Plan Shares to which such Invitation relates may be withdrawn from the Plan by the Participating Employee, as reduced (if at all) or waived in whole or in part at any time by the Board and notified to the Participating Employee.
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Related to Performance Hurdles

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Metrics means criteria established by the Administrator relating to any of the following, as it may apply to an individual, one or more business units, divisions, or Affiliates, or on a company-wide basis, and in absolute terms, relative to a base period, or relative to the performance of one or more comparable companies, peer groups, or an index covering multiple companies:

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Performance Condition means any performance condition imposed under rule 3;

  • Performance Targets means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

  • Performance Measures means measures as described in Article 12 on which the performance goals are based and which are approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation.

  • Performance Cycle means one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months.

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.

  • Performance Corridor means the acceptable range of results around a Performance Target;

  • Performance Period means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance-Based Award.

  • Performance Criteria means the criteria (and adjustments) that the Committee selects for an Award for purposes of establishing the Performance Goal or Performance Goals for a Performance Period, determined as follows:

  • Performance Goal means a performance goal established by the Committee pursuant to Section 10.3.

  • Performance Objectives means the performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 13(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Performance Goals means, for a Performance Period, the one or more goals established by the Board for the Performance Period based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. Unless specified otherwise by the Board (i) in the Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the time the Performance Goals are established, the Board will appropriately make adjustments in the method of calculating the attainment of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes to generally accepted accounting principles; (4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of any “extraordinary items” as determined under generally accepted accounting principles; (6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (8) to exclude the effect of any change in the outstanding shares of common stock of the Company by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; (10) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to expensed under generally accepted accounting principles; (11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting principles and (12) to exclude the effect of any other unusual, non-recurring gain or loss or other extraordinary item. In addition, the Board retains the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for such Performance Period. Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Stock Award Agreement or the written terms of a Performance Cash Award.

  • Performance Factor means any matter that could or will significantly affect a party’s ability to fulfill its obligations under this Agreement;

  • Performance Review means a summative evaluation of a teacher other than a beginning teacher and used to determine whether the teacher’s practice meets school district expectations and the Iowa teaching standards, and to determine whether the teacher’s practice meets school district expectations for career advancement in accordance with Iowa Code section 284.7.