Determination of Level of Performance Objectives Achieved Clause Samples
Determination of Level of Performance Objectives Achieved. As soon as practicable following the completion of the Performance Period and the preparation of Lydall’s audited financial statements for the applicable period, the Plan Administrator shall (a) determine the satisfaction of the Performance Objectives and (b) certify in writing, in accordance with the requirements of Section 162(m) to the extent applicable, the extent to which the Performance Objectives have been achieved, if at all, and the Vesting Percentage as defined in 4(b) resulting therefrom (such certification being hereinafter referred to as the “Certification”).
Determination of Level of Performance Objectives Achieved. As soon as practicable (and no later than the 15th day of the third month) following the completion of the Performance Period, the Committee shall (a) determine the satisfaction of the Performance Objectives and (b) certify in writing, the extent to which the Performance Objectives have been achieved, if at all, and the Vesting Percentage as defined in 4(b) resulting therefrom (such certification being hereinafter referred to as the “Certification”).
Determination of Level of Performance Objectives Achieved. As soon as practicable following the completion of the Performance Period and the preparation of the Company’s audited financial statements for such period, the Committee shall (a) determine the OI of the Company for the Performance Period and (b) certify in writing, in accordance with the requirements of Section 162(m) of the Code to the extent applicable, the extent to which the Performance Objectives have been achieved, if at all, and the Determination Percentage resulting therefrom (such certification being hereinafter referred to as the “Committee Certification”). In the event that, in determining the OI of the Company for the Performance Period, the Committee adjusts the Operating Income from Continuing Operations of the Company from that set forth in the audited financial statements of the Company, the Committee Certification shall include a brief statement setting forth the amount of the adjustment and the reasons therefor. The actual number of Performance Shares that will be allowed to vest will not be determined until the Committee makes the Committee Certification, at which time the number of Performance Shares will be determined and fixed, subject only to the additional time-based vesting requirements set forth in the Award letter and the conditions set forth in Section 8 below.
Determination of Level of Performance Objectives Achieved. As soon as practicable following the completion of the Performance Period and the preparation of the Company’s audited financial statements for such period, the Committee shall (a) determine the EPS of the Company for the last full year of the Performance Period and (b) certify in writing, in accordance with the requirements of Section 162(m) of the Code to the extent applicable, the extent to which the Performance Objectives have been achieved, if at all, and the Vesting Percentage resulting therefrom (such certification being hereinafter referred to as the “Committee Certification”). In the event that, in determining the EPS of the Company for the last full year of the Performance Period, the Committee adjusts the diluted net income per share of Common Stock of the Company from that set forth in the audited financial statements of the Company, the Committee Certification shall include a brief statement setting forth the amount of the adjustment and the reasons therefor. The Performance Shares shall not vest until the Committee makes the Committee Certification.