Common use of Performance Factor Clause in Contracts

Performance Factor. The actual number of Performance Shares earned by the Grantee, subject to the continued vesting requirement set forth in Section 3(b) of this Agreement, shall be determined by multiplying the Performance Factor (as defined in Exhibit A hereto) for the period commencing on January 1, 2015 and ending on December 31, 2016 (the “Measurement Period”) by the Target Performance Shares, with the actual Performance Factor to be determined upon the later of (i) the date on which the audit of the Company’s financial statements for 2015 is completed and (ii) the date on which the audit of the Company’s financial statements for 2016 is completed (such later date, the “Determination Date”). Subject to Section 3(d)(i) of this Agreement, the number of Performance Shares determined pursuant to this Section 3(a) shall be the “Earned Performance Shares.”

Performance Factor. The actual number of Performance Shares earned by the Grantee, subject to the continued vesting requirement set forth in Section 3(b) of this Agreement, shall be determined by multiplying the Performance Factor (as defined in Exhibit A hereto) for the period commencing on January 1, 2015 2014 and ending on December 31, 2016 2015 (the “Measurement Period”) by the Target Performance Shares, with the actual Performance Factor to be determined upon the later of (i) the date on which the audit of the Company’s financial statements for 2015 2014 is completed and (ii) the date on which the audit of the Company’s financial statements for 2016 2015 is completed (such later date, the “Determination Date”). Subject to Section 3(d)(i) of this Agreement, the number of Performance Shares determined pursuant to this Section 3(a) shall be the “Earned Performance Shares.”