Number of Performance Shares. Subject to the terms and conditions of this Agreement and the Plan, the Company grants to the Grantee an Award of 19,135 Performance Shares (as defined in the Plan) subject to vesting under Section 2 (the “Stretch Performance Shares” or “Performance Shares”). The price of the Performance Shares granted shall be determined using the closing price of a Share on the date immediately preceding the Date of Grant.
Number of Performance Shares. The number of Performance Shares that the Grantee may earn hereunder will be determined in accordance with the provisions of Exhibit A, which is attached to and forms a part of this Agreement.
Number of Performance Shares. [MAX_SHARES] (also referred to as restricted stock units) Vesting of Performance Shares: Please refer to the UBS One Source website for the vesting schedule related to this grant of performance shares (click on the specific grant under the tab labeled “Grants/Awards/Units.”).*
Number of Performance Shares. Subject to the terms and conditions of this Agreement and the Plan, the Company grants to the Grantee an Award of (i) ________ Performance Shares subject to vesting under Section 2(a) [(the “Target Performance Shares”), and (ii) ________ Performance Shares subject to vesting under Section 2(b) (the “Stretch Performance Shares” and, together with the Target Performance Shares,] the “Performance Shares”).
Number of Performance Shares. The number of Performance Shares of your Initial Grant in which you will vest, if any, shall be determined based one-half on the Cumulative Operating Income of the Company and one-half on the Company’s Total Shareholder Return relative to the Total Shareholder Return of our Peer Group (defined below), each over the Performance Measurement Period as illustrated in the schedules set forth below. The “Performance Measurement Period” means the period beginning on January 1, 2009 and ending on December 31, 2011. The maximum number of Performance Shares in which you can vest is 200% of your Initial Grant.
Number of Performance Shares. The number of Performance Shares (2013 LTI Grant) indicated on the top of the first page of this Agreement has been determined by multiplying each Performance Share subject to your Prior Award by a fraction, the numerator of which is the average of the closing price on The New York Stock Exchange of one ADR or BDR, as applicable, representing one ordinary share of ING Group, for each of the five trading days immediately preceding the date of the closing of the IPO and the denominator of which is the price to the public (as specified on the cover of the final IPO-related prospectus) of one share of common stock of ING U.S. in the IPO. To the extent the calculation did not result in a whole number, the figure was rounded up to avoid fractional shares.
Number of Performance Shares. Except as otherwise provided above, the number of Performance Shares of your Initial Performance Shares in which you will vest, if any, shall be determined based on the Company’s Total Shareholder Return relative to the Total Shareholder Return of the Company’s Peer Group (as identified in Exhibit B to this Agreement), over the Measurement Period as illustrated in the schedule set forth below. The “Measurement Period” means the period beginning on January 1, 2012 and ending on December 31, 2016. The maximum number of Performance Shares in which you can vest in any event is 200% of your Initial Performance Shares.
Number of Performance Shares. In accordance with the terms of the Plan and subject to the terms and conditions of this Agreement, the Company hereby grants to the Participant (the “Award”) an aggregate of [Number] Performance Shares. Each Performance Share represents the right to receive a distribution of one share of the Company’s Common Stock, par value $.01 per share (each, a “Share”) upon such Performance Share becoming vested in accordance with Section 2.2 and 2.3.
Number of Performance Shares. The number of Performance Shares that are earned based on results achieved during the Performance Period (as defined in the Performance Share Agreement) is determined by multiplying the Target Number of Performance Shares (as defined in the Performance Share Agreement) by the Payout Percentage determined under the Performance Goal Table set forth below based on the Company’s “Peer Group Ranking” (as defined below): Performance Goal Table Peer Group Ranking Payout Percentage Threshold 35% 50% 50% 75% Target 65% 100% Max 90% 200% Straight-line interpolation shall be used to determine the Payout Percentage when performance is between two stated levels in this table. For example, if the Peer Group Ranking is 60%, the Payout Percentage is 91.67%, calculated as follows: (((60% - 50%)(100% - 75%) / (65% - 50%)) + 75%) = 91.65%. Performance Shares that are earned under this Appendix A shall only be issued to the Participant to the extent that the continued employment conditions set forth in the Performance Share Agreement have been satisfied. For avoidance of doubt, no Performance Shares will be earned under the Performance Goal Table set forth above if the Peer Group Ranking is less than 35%, and no more than 200% of the Target Number of Performance will be earned under the Performance Goal Table set forth above if the Peer Group Ranking is more than 90%.
Number of Performance Shares. Except as otherwise provided above, the number of Performance Shares in which you will vest under this Agreement, if any, will be determined by multiplying (a) one-half of the sum of (i) the vested percentage applicable to Return on Invested Capital plus (ii) the vested percentage applicable to diluted Earnings Per Share by (b) the number of Initial Performance Shares. The maximum number of Performance Shares in which you can vest is 200% of your Initial Performance Shares and the minimum number of Performance Shares in which you can vest is 0% of your Initial Performance Shares. The vested percentage applicable to Return on Invested Capital and Diluted Earnings Per Share will each be determined over the Performance Period as illustrated in the schedules set forth below. For purposes of this Agreement, the “Performance Period” means the period beginning on January 1, 2011 and ending on December 31, 2013. Return on Invested Capital (ROIC) The vested percentage applicable to ROIC will be determined based on B&W’s average annual return on invested capital (as calculated below) for the Performance Period in accordance with the following schedule: Average ROIC ROIC Vested Percentage % 50% % 100% % 200% Vested percentages between the amounts shown will be calculated by linear interpolation. The vested percentage applicable to ROIC will be 0% if the Average ROIC for the Performance Period is below %. In no event will the vested percentage applicable to ROIC be greater than 200%. ROIC will be calculated quarterly and the ROIC for any calendar year during the Performance Period will equal the sum of the four applicable quarterly ROIC calculations. Average ROIC will equal the sum of the annual ROIC calculations divided by three. For purposes of this Agreement, the term “ROIC” is a ratio measure of B&W’s net income in relation to B&W’s invested capital, using the formula set forth below. For purposes of determining ROIC, net income is pre-tax income less tax expense. Tax expense will be based on B&W’s normal, weighted average effective tax rate for the jurisdictions in which it is operating for the applicable periods. Invested capital is B&W’s assets less current liabilities. Current liabilities include any liabilities that are due within one calendar year and will be defined based on B&W’s consolidated balance sheet applicable to the applicable period. For purposes of the ROIC calculation: Net Income will exclude mPower development expenses (less applicable taxes) a...
