Minimum Performance Condition Clause Samples
A Minimum Performance Condition clause sets a baseline level of performance that a party must achieve under a contract. Typically, it outlines specific metrics, standards, or targets—such as sales quotas, service levels, or delivery timelines—that must be met within a defined period. If the minimum performance is not achieved, the clause may allow the other party to terminate the agreement, seek remedies, or trigger other contractual consequences. This clause ensures accountability and protects parties from underperformance by clearly defining the minimum acceptable outcomes.
Minimum Performance Condition. Except as set forth in Section 6, as a condition to the receipt of any Shares in settlement of the Award, the Company’s earnings from continuing operations before interest expense and income taxes, excluding: (a) restructuring, exit or disposal costs under ASC 420 and ASC 712, (b) impairment charges under ASC 350 and ASC 360, and (c) benefit plan curtailment, settlement, amendment and termination gains and losses under ASC 715, must be greater than zero for the first full fiscal year of the Performance Period (the “Minimum Performance Condition”). The Committee shall determine whether the Minimum Performance Condition is satisfied as soon as practicable after completion of the first full fiscal year of the Performance Period (the “Determination Date”).
Minimum Performance Condition. The Award is subject to a minimum performance condition established by the Committee for the Company’s first full fiscal year commencing after the Grant Date (the “Performance Period”). Except as set forth in Section 7, as a condition to the receipt of any Shares in settlement of the Award, the Company’s earnings from continuing operations before interest expense and income taxes, excluding: (a) restructuring, exit or disposal costs under ASC 420 and ASC 712, (b) impairment charges under ASC 350 and ASC 360, and (c) benefit plan curtailment, settlement, amendment and termination gains and losses under ASC 715, must be greater than zero for the Performance Period (the “Minimum Performance Condition”). The Committee shall determine whether the Minimum Performance Condition is satisfied as soon as practicable after completion of the Performance Period, but in any event not later than November 30 of the calendar year in which the Performance Period ends (the date the Committee so determines, the “Determination Date”). Except as set forth in Section 7, the Award shall be cancelled and the Executive shall have no rights hereunder if either (i) the Determination Date does not occur or (ii) the Committee determines on the Determination Date that the Minimum Performance Condition has not been satisfied.
Minimum Performance Condition. Except as set forth in Section 6, as a condition to the receipt of any Shares in settlement of the Award, the Company’s consolidated EBIT in each fiscal year of the Performance Period must be equal to or greater than $1 billion (the “Minimum Performance Condition”). The Committee shall determine whether the Minimum Performance Condition is satisfied as soon as practicable after completion of each fiscal year of the Performance Period (each date the Committee so determines is a “Determination Date”).
Minimum Performance Condition. Except as set forth in Section 6, as a condition to the receipt of any Shares in settlement of the Award, the Company’s incentive EBIT (the sum of Retail EBIT from the Company’s U.S. Retail Segment and Spread to LIBOR from the Company’s U.S. Credit Card Segment) in each fiscal year of the Performance Period must be equal to or greater than $1 billion (the “Minimum Performance Condition”). The Committee shall determine whether the Minimum Performance Condition is satisfied as soon as practicable after completion of each fiscal year of the Performance Period (each date the Committee so determines is a “Determination Date”).
Minimum Performance Condition. Except as set forth in Section 6, as a condition to the receipt of any Shares in settlement of the Award, the Company’s U.S. Segment Profit for the fiscal year ending on January 30, 2016 must be greater than $0 (the “Minimum Performance Condition”). The Committee shall determine whether the Minimum Performance Condition is satisfied as soon as practicable after completion of the fiscal year ending on