Performance Grants Sample Clauses
A Performance Grants clause defines the conditions under which an individual or entity is awarded additional compensation or benefits based on the achievement of specific performance targets. Typically, this clause outlines the metrics or goals that must be met, such as sales targets, project milestones, or financial benchmarks, and describes the form and timing of the grant, which may include cash bonuses, stock options, or other incentives. Its core practical function is to incentivize high performance by directly linking rewards to measurable outcomes, thereby aligning the interests of the recipient with those of the organization.
Performance Grants. In addition to the option grant described above, if the Executive is employed by the Company on November 30, 2016, then no later than February 28, 2017, the Company shall grant the Executive up to 20,000 shares of Company. If the Executive is employed by the Company on November 30, 2017, then no later than February 28, 2018 the Company shall grant the Executive up to an additional 20,000 of shares of Company. Such performance grants shall be made under the Company’s 2012 Stock Plan or a subsequent Company stock plan. For the fiscal years December 1, 2015 to November 30, 2016 and December 1, 2016 to November 30, 2017, the Executive’s performance grant shall be a percentage of 20,000 shares equal to the sum of (i) the product of 16.67% and the number of the Net Revenue and Adjusted Cash Flow performance grant criteria achieved at the Target level; (ii) the product of 8.33% and the number of the Net Revenue and Adjusted Cash Flow performance grant criteria achieved at the Stretch level; and (iii) up to 50.0% at the discretion of the Co-CEOs based upon their subjective performance determination. The performance grant criteria for the fiscal year ending November 30, 2016 are set forth in the following schedule. Unless otherwise agreed to in writing by the Executive and the Co-CEOs, performance grant criteria for the fiscal year ending November 30, 2017 shall be based on the same standards, and the same weightings as for the fiscal year ending November 30, 2016 and shall be established by February 28, 2017 by the Co-CEOs in their sole discretion after consultation with the Executive (except for the subjective performance criteria which shall be determined by the Co-CEOs by February 28, 2018). Net Revenue for FYE 11/30/16 weighted 25% $ 22,355,962 $ 23,355,962 Adjusted Net Income for FYE 11/30/16 weighted 25% $ 3,328,321 $ 3,494,737 Subjective performance weighted 50% TBD by Co-CEOs by grant date TBD by Co-CEOs by grant date The Net Revenue performance grant criteria shall be based on the annual net revenue of the Company as set forth in its audited financial statement. The Adjusted Net Income performance grant criteria shall be based on the annual net income of the Company as set forth in its audited financial statement adjusted for (x) stock compensation expense, depreciation and amortization (y) the change in deferred revenue for the 2016 fiscal year from the 2015 fiscal year and (z) the elimination any amounts of interest paid and expenses directly associated...
Performance Grants. In addition to the option grants described above, if the Executive is employed by the Company on November 30, 2018, then no later than February 28, 2019, the Company shall grant the Executive up to 47,273 qualified stock options for the Company’s stock. If the Executive is employed by the Company on November 30, 2019, then no later than February 28, 2020 the Company shall grant the Executive up to an additional 47,273 qualified stock options for the Company’s stock. Such performance grants shall be made under the Company’s 2012 Stock Plan or a subsequent Company stock plan. For the fiscal years December 1, 2017 to November 30, 2018 and December 1, 2018 to November 30, 2019, the Executive’s performance grant shall be a percentage of 47,273 qualified stock options equal to the sum of (i) the product of 11.11% and the six bonus criteria achieved based upon the Company’s annual Net Revenue and Weighted Average Stock Price; and (ii) the product of 11.11% and the number of the three Subjective Performance criteria achieved. The performance grant criteria for the fiscal year ending November 30, 2018 are set forth in the following schedule. Unless otherwise agreed to in writing by the Executive and the Committee, performance grant criteria for the fiscal year ending November 30, 2019 shall be based on the same standards, and the same weightings as for the fiscal year ending November 30, 2018 and shall be established by February 28, 2019 by the Committee in its sole discretion after consultation with the Executive (except for the subjective performance criteria which shall be determined by the Committee by February 28, 2020). Net Revenue Increase for FYE 11/30/18 compared to FYE 11/30/2017 weighted 1/3 10 % 11 % 12 % Weighted Average Stock Price weighted 1/3 $ 10.25 $ 11.00 $ 11.75 Subjective Performance weighted 1/3 TBD by Comp Committee by grant date TBD by Comp Committee by grant date TBD by Comp Committee by grant date The Net Revenue Increase performance grant criteria shall be based on the annual net revenue of the Company as set forth in its audited financial statement. The Weighted Average Stock Price shall be calculated based on: (i) the trading day average closing price of the Company’s stock for each of the last three months of the fiscal year; and (ii) the weighting of each monthly average closing price of the Company’s stock from September through November such that the October average closing price is weighted twice the September average closing price...
Performance Grants a. Each year the major competition for Team USA will be announced.
b. USBC will follow the USOPC payment of performance grant guidelines.
c. Athletes who qualify for more than one award will automatically receive the higher award. i.e.: Only one (1) award per event
d. Grants can vary and come from a variety of sources:
1) USOPC Operation Gold
2) PAN AM Games
3) IBF World Championships
4) PANAM Championships USBC realizes that the effect on an athlete’s ability to receive grants may depend on eligibility issues, including Youth membership in USBC and those on NCAA scholarships. Unless USBC is advised otherwise by the athlete, checks will be issued to all those eligible hereunder. While USBC is not a tax expert, we believe that these subsidy payments will likely be treated as some form of income by the Internal Revenue Service. Therefore, USBC will issue 1099’s where required ($600.00 or more reimbursement per year per person). You may be able to offset income received by your expenses incurred. You should consult your tax advisor for further information.
Performance Grants. The Borrower shall, through NIPC and the Project Management Unit, follow the procedures set forth in the Project Implementation Manual for the selection of recipients and monitoring of Performance Grants under Parts A and B of the Project.
(a) Eligibility criteria for selection of recipients of the Performance Grants under Parts A and B of the Project will be: performance to date, absorptive, financial and technical capacity, and cost sharing.
(b) Performance criteria for monitoring implementation of the Performance Grants under Parts A and B of the Project will be measurable and realistic indices measuring outreach and sustainability.
(c) Disbursements under the Performance Grants will be based on measurable triggers set out in Performance Grant Agreements with recipients of such Performance Grants.
(d) The thresholds for review of proposals for Performance Grants under Parts A and B of the Project may be revised by agreement between the Association and the Borrower. Current thresholds are:
(i) PMU shall approve the selection of recipients for Performance Grants below $100,000;
(ii) NIPC shall approve the selection of recipients for Performance Grants over $100,000 but less than $150,000; and
(iii) the Review Committee shall approve the selection of recipients for Performance Grants over $150,000 upon recommendation of NIPC.
(e) Except as the Association shall otherwise agree, Performance Grants to any single recipient under Part A of the Project shall not exceed $2,000,000 in the aggregate, and Performance Grants to any single recipient under Part B of the Project shall not exceed $250,000 in the aggregate.
Performance Grants. The dissemination of funds received by the school corporation will be distributed in accordance with the guidelines established by the Indiana Department of Education as well as through the corporation discussion process.
Performance Grants. The Committee may grant Awards of Performance Grants either alone, or in conjunction with other Awards, either at the time of grant or by amendment thereafter. The Award of a Performance Grant to a Participant will entitle him to receive a specified amount determined by the Committee (the “Actual Value”), if the terms and conditions specified in this Plan and in the Award are satisfied. Each Award of a Performance Grant shall be subject to the applicable terms and conditions of this Plan, and to such other terms and conditions, including but not limited to, restrictions upon any cash, Class A Shares, Other Real Goods Securities or property, or other forms of payment, or any combination thereof, issued with respect to the Performance Grant, as the Committee, in its discretion, shall establish, and shall be embodied in an agreement in such form and substance as is determined by the Committee.
(a) The Committee shall determine the value or range of values of a Performance Grant to be awarded to each Participant selected for an Award and whether or not such a Performance Grant is granted in conjunction with another Award. As determined by the Committee, the maximum value of each Performance Grant (the “Maximum Value”) shall be: (i) an amount fixed by the Committee at the time the Award is made or amended thereafter, (ii) an amount that varies from time to time based in whole or in part on the then current value of the Class A Shares, Other Real Goods Securities or property, or other securities or property, or any combination thereof or (iii) an amount that is determinable from criteria specified by the Committee. Performance Grants may be issued in different classes or series having different names, terms and conditions. In the case of a Performance Grant awarded in conjunction with another Award, the Performance Grant may be reduced on an appropriate basis to the extent that the other Award has been exercised, paid to or otherwise received by the Participant, as determined by the Committee.
(b) The award period (“Award Period”) related to any Performance Grant shall be a period determined by the Committee. At the time each Award is made or within the first 90 days of any performance period, the Committee shall establish performance objectives to be attained within the Award Period as the means of determining the Actual Value of such a Performance Grant. The performance objectives shall be based on such measure or measures of performance, which may include, bu...
Performance Grants. The Board will review the Superintendent’s performance no less than once each school year. If the Superintendent is evaluated as effective or highly effective for the preceding year, the Superintendent will be deemed eligible for a performance payment equivalent to the amount awarded to CSCSHC teachers with the same performance evaluation rating under performance grant statutes and/or similar programs. This provision only applies to years in which CSCHSC receives a teacher performance grant or similar performance award.
Performance Grants
Performance Grants