Common use of Average TSR Clause in Contracts

Average TSR. The average TSR for a company for the Performance Period shall be the sum of the TSRs of the company measured at the end of each calendar quarter during the Performance Period, divided by 12. The average TSR for a company during the Performance Period shall be calculated based on the following formula: Average indexed performance = Σ (xq / x) where: x = share price at beginning of calendar year in which the applicable calendar quarter occurs (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days preceding the beginning of such calendar year) xq = closing share price at the end of each quarter (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days of such calendar quarter, and adjusted for dividends paid (where the dividend payment date is the ex-dividend date)) q = quarter number (1 through 12) (x) (xq / x) 1/1/2018 $20.00 3/31/2018 $22.00 110.0 6/30/2018 $24.00 120.0 9/30/2018 $21.00 105.0 12/31/2018 $20.00 100.0 3/31/2019 $18.00 90.0 6/30/2019 $22.00 110.0 9/30/2019 $25.00 125.0 12/31/2019 $28.00 140.0 3/31/2020 $31.00 110.7 6/30/2020 $33.00 117.9 9/30/2020 $30.00 107.1 12/31/2020 $28.00 100.0 Σ (xq / x) = 1,335.7 Σ (xq / x) = 111.3 * Average price adjusted for dividends paid in the period, where the dividend payment date is the ex-dividend date.

Average TSR. The average TSR for a company for the Performance Period shall be the sum of the TSRs of the company measured at the end of each calendar quarter during the Performance Period, divided by 12. The average TSR for a company during the Performance Period shall be calculated based on the following formula: Average indexed performance = Σ (xq / x) where: x = share price at beginning of calendar year in which the applicable calendar quarter occurs (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days preceding the beginning of such calendar year) xq = closing share price at the end of each quarter (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days of such calendar quarter, and adjusted for dividends paid (where the dividend payment date is the ex-dividend date)) q = quarter number (1 through 12) (x) (xq / x) 1/1/2018 1/1/2017 $20.00 3/31/2018 3/31/2017 $22.00 110.0 6/30/2018 6/30/2017 $24.00 120.0 9/30/2018 9/30/2017 $21.00 105.0 12/31/2018 12/31/2017 $20.00 100.0 3/31/2019 3/31/2018 $18.00 90.0 6/30/2019 6/30/2018 $22.00 110.0 9/30/2019 9/30/2018 $25.00 125.0 12/31/2019 12/31/2018 $28.00 140.0 3/31/2020 3/31/2019 $31.00 110.7 6/30/2020 6/30/2019 $33.00 117.9 9/30/2020 9/30/2019 $30.00 107.1 12/31/2020 12/31/2019 $28.00 100.0 Σ (xq / x) = 1,335.7 Σ (xq / x) = 111.3 * Average price adjusted for dividends paid in the period, where the dividend payment date is the ex-dividend date.

Average TSR. The average TSR for a company for the Performance Period shall be the sum of the TSRs of the company measured at the end of each calendar quarter during the Performance Period, divided by 12. The average TSR for a company during the Performance Period shall be calculated based on the following formula: Average indexed performance = Σ (xq / x) where: x = share price at beginning of calendar year in which the applicable calendar quarter occurs (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days preceding the beginning of such calendar year) xq = closing share price at the end of each quarter (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days of such calendar quarter, and adjusted for dividends paid (where the dividend payment date is the ex-dividend date)) q = quarter number (1 through 12) (x) (xq / x) 1/1/2018 1/1/2016 $20.00 3/31/2018 3/31/2016 $22.00 110.0 6/30/2018 6/30/2016 $24.00 120.0 9/30/2018 9/30/2016 $21.00 105.0 12/31/2018 12/31/2016 $20.00 100.0 3/31/2019 3/31/2017 $18.00 90.0 6/30/2019 6/30/2017 $22.00 110.0 9/30/2019 9/30/2017 $25.00 125.0 12/31/2019 12/31/2017 $28.00 140.0 3/31/2020 3/31/2018 $31.00 110.7 6/30/2020 6/30/2018 $33.00 117.9 9/30/2020 9/30/2018 $30.00 107.1 12/31/2020 12/31/2018 $28.00 100.0 Σ (xq / x) = 1,335.7 Σ (xq / x) = 111.3 * Average price adjusted for dividends paid in the period, where the dividend payment date is the ex-dividend date.

Average TSR. The average TSR for a company for the Performance Period shall be the sum of the TSRs of the company measured at the end of each calendar quarter during the Performance Period, divided by 12. The average TSR for a company during the Performance Period shall be calculated based on the following formula: Average indexed performance = Σ (xq / x) where: x = share price at beginning of calendar year in which the applicable calendar quarter occurs (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days preceding the beginning of such calendar year) xq = closing share price at the end of each quarter (measured by simple average of the closing prices of a share trading during regular trading hours for the last twenty trading days of such calendar quarter, and adjusted for dividends paid (where the dividend payment date is the ex-dividend date)) q = quarter number (1 through 12) (x) (xq / x) 1/1/2018 $1/1/2019 $ 20.00 3/31/2018 $3/31/2019 $ 22.00 110.0 6/30/2018 $6/30/2019 $ 24.00 120.0 9/30/2018 $9/30/2019 $ 21.00 105.0 12/31/2018 $12/31/2019 $ 20.00 100.0 3/31/2019 $3/31/2020 $ 18.00 90.0 6/30/2019 $6/30/2020 $ 22.00 110.0 9/30/2019 $9/30/2020 $ 25.00 125.0 12/31/2019 $12/31/2020 $ 28.00 140.0 3/31/2020 $3/31/2021 $ 31.00 110.7 6/30/2020 $6/30/2021 $ 33.00 117.9 9/30/2020 $9/30/2021 $ 30.00 107.1 12/31/2020 $12/31/2021 $ 28.00 100.0 Σ (xq / x) = 1,335.7 Σ (xq / x) = 111.3 * Average price adjusted for dividends paid in the period, where the dividend payment date is the ex-dividend date.