TSR Vesting Percentage as of a given date is a function of the Company’s Percentile Rank among the Peer Group calculated as of such date, determined by reference to the following table: Percentile Rank TSR Vesting Percentage Less than 40th Percentile 0 % 40th Percentile 50 % 50th Percentile 100 % 75th Percentile or greater 200 % In the event that the Percentile Rank is less than 40th Percentile, the TSR Vesting Percentage shall be zero percent (0%). In the event that the Percentile Rank falls between any of the values listed in the table above, the TSR Vesting Percentage shall be based on a straight line interpolation between such two values.
TSR Vesting Percentage means a function of the Company’s Relative TSR Percentile Rank during the TSR Performance Period and shall be determined as set forth below: In the event that the Relative TSR Percentile Rank is less than the th percentile, the TSR Vesting Percentage shall be equal to 0%. In the event that the Relative TSR Percentile Rank during the TSR Performance Period falls between the Threshold Level and the Target Level, the TSR Vesting Percentage shall be determined using straight line linear interpolation between the Threshold Level and the Target Level TSR Vesting Percentages specified above. In the event that the Relative TSR Percentile Rank during the TSR Performance Period falls between the Target Level and the Maximum Level, the TSR Vesting Percentage shall be determined using straight line linear interpolation between the Target Level and the Maximum Level TSR Vesting Percentages specified above. For the avoidance of doubt, notwithstanding the Relative TSR Percentile Rank, in the event the Company’s TSR for the TSR Performance Period is a negative number, the TSR Vesting Percentage shall not exceed 100%.
TSR Vesting Percentage as of a given date is a function of the Company’s Percentile Rank among the Peer Group calculated as of such date, determined by reference to the following table: Percentile Rank TSR Vesting Percentage Less than 40th Percentile 0% 40th Percentile 50% 50th Percentile 100% 75th Percentile or greater 200% A-7 In the event that the Percentile Rank is less than 40th Percentile, the TSR Vesting Percentage shall be zero percent (0%). In the event that the Percentile Rank falls between any of the values listed in the table above, the TSR Vesting Percentage shall be based on a straight line interpolation between such two values. ANNEX A Clawback Policy Recovery of Improperly-Awarded Incentive Compensation The Company will use commercially reasonable efforts to implement the following policy through the insertion of contractual provisions in new agreements with applicable employees and through any amendments that may be entered into after the date of the adoption of this policy on November 12, 2010 to existing agreements with Executives (as defined below). The Board may require the reimbursement of any bonus or incentive compensation awarded to an Executive and/or effect the cancellation of unvested restricted stock or outstanding stock option awards previously granted to an Executive, in each case, on or after the adoption of this policy on November 12, 2010, but in no event more than four years after the award of such compensation where: (1) the payment was predicated upon achieving certain financial results that were subsequently determined to have been erroneously reported; (2) the Board determines that the Executive engaged in knowing or intentional fraudulent or illegal conduct that caused or substantially caused such erroneous reporting to have occurred; and (3) a lower payment would have been made to the Executive based upon the corrected financial results. In each instance, the Board may, to the extent practicable under applicable law, seek to recover from such Executive on or after the adoption of this policy any amount that was subsequently reduced due to the correction of erroneous reporting and/or effect the cancellation of outstanding restricted stock or stock option awards previously granted to such Executive on or after the date of the adoption of this policy in the amount by which such Executive’s bonus or incentive payments for the relevant period exceeded the lower payment that would have been made based on the corrected financial results. The Boa...
Examples of TSR Vesting Percentage in a sentence
Subject to Section C, on the Vesting Date, a number of TSR Performance-Based Units shall become vested equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage as of March 31, 2020, rounded down to the nearest whole TSR Performance-Based Unit.
Subject to Section C, on the second (2nd) anniversary of the Grant Date, a number of TSR Performance-Based Units shall become vested equal to the product of (x) the target number of TSR Performance-Based Units eligible to vest pursuant to this Section B(i) multiplied by (y) the TSR Vesting Percentage, rounded down to the nearest whole TSR Performance-Based Unit.
More Definitions of TSR Vesting Percentage
TSR Vesting Percentage shall have the meaning set forth in the Adjustments and Defined Terms Appendix to this Award Agreement. FOREIGN COUNTRY APPENDIX TO EXHIBIT 1-A ADDITIONAL TERMS AND CONDITIONS OF THE AWARD AGREEMENT Terms and Conditions This Appendix includes additional terms and conditions that govern Awards granted to you under the Plan if you reside in one of the countries listed below. Certain capitalized terms used but not defined in this Foreign Country Appendix (the “Appendix”) have the meanings set forth in the Plan and/or the Award Agreement.
TSR Vesting Percentage means a function of the Company’s Relative TSR Percentile Rank during the TSR Performance Period and shall be determined as set forth below: Relative TSR Percentile Rank TSR Vesting Percentage Threshold Level 50th percentile 75% Target Level 60th percentile 100% Maximum Xxxxx 0 00xx percentile 200%
TSR Vesting Percentage means a function of the Company’s Relative TSR Percentile Rank during the Performance Period and shall be determined as set forth on the Adjustments and Defined Terms Appendix to this Award Agreement. FOREIGN COUNTRY APPENDIX TO EXHIBIT 1-A ADDITIONAL TERMS AND CONDITIONS OF THE AWARD AGREEMENT Terms and Conditions This Appendix includes additional terms and conditions that govern Awards granted to you under the Plan if you reside in one of the countries listed below. Certain capitalized terms used but not defined in this Foreign Country Appendix (the “Appendix”) have the meanings set forth in the Plan and/or the Award Agreement. Notifications This Appendix also includes information regarding exchange controls and certain other issues of which you should be aware with respect to your participation in the Plans. The information is based on the securities, exchange control and other laws in effect in the respective countries as of June 2010. Such laws are often complex and change frequently. As a result, the Company strongly recommends that you not rely on the information in this Appendix as the only source of information relating to the consequences of your participation in the Plan because the information may be out of date at the time that your Award vests or you sell shares of Common Stock acquired under the Plan. In addition, the information contained herein is general in nature and may not apply to your particular situation and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation.Finally, if you are a citizen or resident of a country other than the one in which you are currently working, the information contained herein may not be applicable to you. AUSTRALIA Notifications Securities Law Information. If you acquire shares of Common Stock pursuant to an Award and you offer the shares of Common Stock for sale to a person or entity resident in Australia, the offer may be subject to disclosure requirements under Australian law. You should obtain legal advice on disclosure obligations prior to making any such offer. Exchange Control Information. Exchange control reporting is required for cash transactions exceeding A$10,000 and international fund transfers. The Australian bank assisting with the transaction will file the report. If there is no Australian bank involved in the transfer, you will be requ...