Common use of Modifier Clause in Contracts

Modifier. The total number of Performance Share Units earned, if any, based on the Performance Goals as set forth in Section 5 of this Exhibit A shall then be subject to adjustment, determined by multiplying (i) such total number of Performance Share Units earned as determined in accordance with Section 5 of this Exhibit A by (ii) the Relative TSR Multiplier Percentage which is determined based on the Company’s TSR relative to the companies in the S&P 500 (the “Comparator Group”) over the Comparison Period (defined below), as set forth in the following chart: Performance Level Threshold Target Relative TSR Percentile Achieved At or less than 25th Between the 25th and 75th Relative TSR Multiplier Percentage 75% No Modifier Ceiling At or above 75th 125% For the avoidance of doubt, in no event may the Relative TSR Multiplier Percentage be less than 75% or greater than 125%. The period on which TSR is measured (“Comparison Period”) shall be the three fiscal years ended December 28, 2024. In the event the Company’s absolute TSR for the Comparison Period is less than zero, no positive adjustment shall be made. The final number of Performance Share Units to vest based on this calculation shall be rounded to the nearest whole share, with no payment for any fractional shares.

Appears in 2 contracts

Samples: Performance Share Unit Agreement (Tractor Supply Co /De/), Performance Share Unit Agreement (Tractor Supply Co /De/)

AutoNDA by SimpleDocs

Modifier. The total number of Performance Share Units earned, if any, based on the Performance Goals as set forth in Section 5 of this Exhibit A shall then be subject to adjustment, determined by multiplying (i) such total number of Performance Share Units earned as determined in accordance with Section 5 of this Exhibit A by (ii) the Relative TSR Multiplier Percentage which is determined based on the Company’s TSR relative to the companies in the S&P 500 (the “Comparator Group”) over the Comparison Period (defined below), as set forth in the following chart: Performance Level Threshold Target Relative TSR Percentile Achieved Relative TSR Multiplier Percentage Threshold At or less than 25th 75% Target Between the 25th and 75th Relative TSR Multiplier Percentage 75% No Modifier modifier Ceiling At or above 75th 125% For the avoidance of doubt, in no event may the Relative TSR Multiplier Percentage be less than 75% or greater than 125%. The period on which TSR is measured (“Comparison Period”) shall be the three fiscal years ended December 2830, 20242023. In the event the Company’s absolute TSR for the Comparison Period is less than zero, no positive adjustment shall be made. The final number of Performance Share Units to vest based on this calculation shall be rounded to the nearest whole share, with no payment for any fractional shares.

Appears in 2 contracts

Samples: Performance Share Unit Agreement (Tractor Supply Co /De/), Performance Share Unit Agreement (Tractor Supply Co /De/)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.