Average Operating Profit Clause Samples

Average Operating Profit. Up to <XX>% of the Performance Share Target Award may be earned upon achievement of the Average Operating Profit target for the Performance Period. Each year’s actual target value will be set following the conclusion of the prior year by applying the pre-approved target growth rates, shown below, to actual results and calculating the next year’s target. Each year’s performance against target will be calculated and actual performance for each of the three years will be averaged for use in calculating the payout percentage. Average Operating Profit Threshold (<XX>% of Target) Target Maximum (<XX>% of Target) Payout as a % of Target <XX>% <XX>% <XX>% The Committee will certify Average Operating Profit and vest any earned Performance Shares as soon as administratively practical, but not later than the 90th day following the end of the Performance Period. The percentage of the Performance Share Target Award earned between Threshold and Target and Target and Maximum is based on interpolation.