Common use of Payment Limitations Clause in Contracts

Payment Limitations. Notwithstanding anything herein to the contrary, the following limitations shall apply to any calculation of payments under this Agreement: a. If the Company’s TSR for the Performance Cycle is negative, the Performance Settlement Factor used to calculate the Award payment shall not exceed the Target amount set forth in Section B of Exhibit A. b. If the Company’s TSR ranking for the Performance Cycle is below the 25th percentile of the TSR of the peers in the Comparator Group, then no payment shall be made under this Agreement. c. If the Company’s Annualized ▇▇▇ for each fiscal year during the Performance Cycle is less than the weighted average Annualized ▇▇▇ of the companies that comprise the S&P midcap 400 for each such year during the Performance Cycle (as reported by Bloomberg, or a similar reporting service if Bloomberg is unavailable), then the amount that would otherwise have been paid under Section 1(d) of this Agreement shall be reduced by twenty-five percent (25%).

Payment Limitations. Notwithstanding anything herein to the contrary, the following limitations shall apply to any calculation of payments under this Agreement: a. If the Company’s TSR for the Performance Cycle is negative, the Performance Settlement Factor used to calculate the Award payment shall not exceed the Target amount set forth in Section B of Exhibit A. b. If the Company’s TSR ranking for the Performance Cycle is below the 25th percentile of the TSR of the peers in the Comparator Group, then no payment shall be made under this Agreement. c. If the Company’s Annualized ▇▇▇ for each fiscal year during the Performance Cycle is less than the weighted average Annualized of the median ▇▇▇ of the companies that comprise for the S&P midcap 400 companies for each such fiscal year during the Performance Cycle (as reported by Bloomberg, or a similar reporting service if Bloomberg is unavailable)Cycle, then the amount that would otherwise have been paid under Section 1(d) of this Agreement shall be reduced by twenty-five percent (25%).