Common use of Business Criteria Clause in Contracts

Business Criteria. Target Criteria Percentage of Weight Relative to your Total Potential Award Points Production Growth: equivalent production at least 110 Bcfe for YE 2013, but taking into account the effect of property sales, if applicable. 15 % 0-30 Reserve Growth: Increase in reserves of 120 Bcfe over 2012 YE reserves, excluding 2013 YE production and the effect of property sales, if applicable. 15 % 0-30 F&D Costs: not to exceed $3.40 per Mcfe at year end 2013 10 % 0-20 XXX & G&A: 2013 XXX and G&A per Mcfe of production no more than a 7% increase in XXX and G&A per Mcfe of production, measured against 2012 XXX and G&A per Mcfe of production (excluding hurricane expenses and insurance credits for such expenses) 10 % 0-20 Total 50 % 100

Appears in 1 contract

Samples: Incentive Award Agreement (W&t Offshore Inc)

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Business Criteria. Target Criteria Percentage of Weight Relative to your Total Potential Award Points Production Growth: equivalent production at least 110 Bcfe for YE 2013, but taking into account the effect of property sales, if applicable. 15 % 0-30 Reserve Growth: Increase in reserves of 120 Bcfe over 2012 YE reserves, excluding 2013 YE production and the effect of property sales, if applicable. 15 % 0-30 F&D Costs: not to exceed $3.40 per Mcfe at year end 2013 10 % 0-20 XXX & G&A: 2013 XXX and G&A per Mcfe of production no more than a 7% increase in XXX and G&A per Mcfe of production, measured against 2012 XXX and G&A per Mcfe of production (excluding hurricane expenses and insurance credits for such expenses) 10 % 0-20 Total 50 % 100100 The number of points you receive on each individual scale shall be determined as follows, using a straight-line interpolation:

Appears in 1 contract

Samples: Incentive Award Agreement (W&t Offshore Inc)

Business Criteria. Target Criteria Percentage of Weight Relative to your Total Potential Award Points Production Growth: equivalent production at least 110 105 Bcfe for YE 2013, but taking into account the effect of property sales, if applicable. 15 2011 20% 0-30 40 Reserve Growth: Increase in reserves of 120 133 Bcfe over 2012 2010 YE reservesreserves (485.4 Bcfe), excluding 2013 2011 YE production and the effect of property sales, if applicableproduction. 15 20% 0-30 40 F&D Costs: not to exceed $3.40 3.50 per Mcfe at year end 2013 10 2011 5% 0-20 10 XXX & G&A: 2013 2011 XXX and G&A per Mcfe of production no more than a 7% increase in XXX and G&A per Mcfe of production, measured against 2012 2010 XXX and G&A per Mcfe of production (excluding hurricane expenses and insurance credits for such expenses) 10 5% 0-20 10 Total 50 50% 100100 The number of points you receive on each individual scale shall be determined as follows, using a straight-line interpolation:

Appears in 1 contract

Samples: Incentive Compensation Plan (W&t Offshore Inc)

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Business Criteria. Target Criteria Percentage of Weight Relative to your Total Potential Award Points Production Growth: 2010 equivalent production at least 110 greater than 110% of 2009 equivalent production (94.8 Bcfe for YE 2013, but taking into account the effect of property sales, if applicable. 15 times 110%) 15% 0-30 Reserve Growth: Increase in 2010 reserves over 2009 reserves greater than 125% of 120 2009 equivalent production (94.8 Bcfe over 2012 YE reserves, excluding 2013 YE production and the effect of property sales, if applicable. 15 times 125%) 15% 0-30 F&D Costs: not to exceed $3.40 2009 DD&A per Mcfe at year end 2013 10 2009 10% 0-20 XXX & LXX and G&A: 2013 XXX 2010 LXX and G&A per Mcfe of production no more than a 75% increase in XXX LXX and G&A per Mcfe of production, measured against 2012 XXX 2009 LXX and G&A per Mcfe of production (excluding hurricane expenses and insurance credits for such expenses) 10 10% 0-20 Total 50 50% 100100 The number of points you receive on each individual scale shall be determined as follows, using a straight-line interpolation:

Appears in 1 contract

Samples: Incentive Compensation Plan (W&t Offshore Inc)

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