Performance Measure Factor Grid Clause Samples
The Performance Measure Factor Grid is a contractual tool used to define and quantify specific performance metrics that a party must meet under the agreement. It typically outlines various performance criteria, assigns measurable factors or scores to each, and may include thresholds or benchmarks for acceptable performance. For example, it might list response times, quality standards, or delivery rates, each with corresponding point values or weightings. This clause ensures objective evaluation of performance, facilitates transparent monitoring, and helps resolve disputes by providing clear standards for assessing whether contractual obligations have been met.
Performance Measure Factor Grid. Average Pre-Tax Return on Assets
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Multiple will be determined by interpolation between the respective amounts shown above.
(2) Average Earnings per Share is weighted 75% and Average Pre-Tax Return on Assets is weighted 25% to determine the applicable Multiple in the Performance Measure Factor Grid.
(3) Notwithstanding the foregoing, Awarded Shares shall not be awarded to the Participant if either (i) Average Earnings per Share is less than $[•], or (ii) Average Pre-Tax Return on Assets is less than [•]%.
(4) The total number of Awarded Shares that may be awarded to the Participant shall range from 0% to 150% of the Target Number of PSUs (or Pro-Rata Target Number of PSUs, if applicable) based on the application of the Performance Measure Factor Grid.
Performance Measure Factor Grid. Average Net Finance Margin
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Multiple will be determined by interpolation between the respective amounts shown above.
(2) Each of the Performance Measures is weighted 50% to determine the applicable Multiple in the Performance Measure Factor Grid.
(3) Notwithstanding the foregoing, Awarded Shares shall not be awarded to the Participant if either (i) the level of Average Net Finance Margin is less than [Ÿ]%, or (ii) Aggregate Committed Lending Volume is less than $[Ÿ] of each respective Performance Measurement’s Target Level.
(4) The total number of Awarded Shares that may be awarded to the Participant shall range from 0% to 150% of the Target Number of PSUs (or Pro-Rata Target Number of PSUs, if applicable) based on the application of the Performance Measure Factor Grid.
(5) The “Target Level” for the Average Net Finance Margin is [Ÿ]% and the “Target Level” for Aggregate Committed Lending Volume is $[Ÿ] billion.
Performance Measure Factor Grid. Average Net Finance Margin
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Multiple will be determined by interpolation between the respective amounts shown above.
(2) Each of the Performance Measures is weighted 50% to determine the applicable Multiple in the Performance Measure Factor Grid.
(3) Notwithstanding the foregoing, Awarded Shares shall not be awarded to the Participant if either the level of Average Net Finance Margin or Aggregate Committed Lending is less than 75% of each respective Performance Measurement’s Target Level.
(4) The total number of Awarded Shares that may be awarded to the Participant shall range from 0% to 200% of the Target Number of PSUs (or Pro-Rata Target Number of PSUs, if applicable) based on the application of the Performance Measure Factor Grid.
Performance Measure Factor Grid. ROTCE Payout Before Credit Modifier Payout With Credit Modifier <=[l]bps to >=[l] bps +0% to -15% Min [l]% 50.0% 50.0% - 50.0% [l]% 58.0% 58.0% - 50.0% [l]% 66.0% 66.0% - 51.0% [l]% 74.0% 74.0% - 59.0% [l]% 82.0% 82.0% - 67.0% [l]% 90.0% 90.0% - 75.0% [l]% 95.0% 95.0% - 80.0% [l]% 105.0% 105.0% - 90.0% [l]% 110.0% 110.0% - 95.0% [l]% 118.0% 118.0% - 103.0% [l]% 126.0% 126.0% - 111.0% [l]% 134.0% 134.0% - 119.0% [l]% 142.0% 142.0% - 127.0%
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Payout Percentage will be determined by interpolation between the respective amounts shown above.
(2) The “Target Level” for ROTCE is [l]%, the “Target Level” for the Credit Provision Modifier is [l]bps, and the “Minimum Level” for ROTCE is [l]%.
(3) If the Minimum Level for ROTCE is not met, the PSUs eligible to vest will be forfeited. Notwithstanding the foregoing, the Committee may determine that a portion of the PSUs eligible to vest, not to exceed 50% of such PSUs, will vest after taking into account such factors as (i) the magnitude of the ROTCE below the Minimum Level (including positive or negative variance from plan), (ii) the Participant’s degree of involvement (including the degree to which the Participant was involved in decisions that are determined to have contributed to ROTCE below the Minimum Level, (iii) the Participant’s performance, and (iv) such other factors as deemed appropriate. Any such determination will be in the sole discretion of the Committee and will be final and binding.
Performance Measure Factor Grid. Credit Provision Modifier
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Percentage will be determined by interpolation between the respective amounts shown above.
(2) The “Target Level” for ROTCE is [●]% to [●]%, the “Target Level” for the Credit Provision Modifier is [●] bps to [●] bps, and the “Minimum Level” for ROTCE is [●]%.
(3) If the Minimum Level for ROTCE is not met for any Performance Year, the tranche of PSUs eligible to vest for such Performance Year will be forfeited as of the applicable Vesting Date. Notwithstanding the foregoing, the Committee may determine that a portion of the PSUs eligible to vest for such Performance Year, not to exceed 50% of such PSUs, will vest after taking into account such factors as (i) the magnitude of ROTCE below the Minimum Level (including positive or negative variance from plan), (ii) the Participant’s degree of involvement (including the degree to which the Participant was involved in decisions that are determined to have contributed to ROTCE below the Minimum Level), (iii) the Participant’s performance and (iv) such other factors as deemed appropriate. Any such determination will be in the sole discretion of the Committee and will be final and binding.
Performance Measure Factor Grid. ROATCE Performance Factor X TSR Adjustment Factor = Payout Percentage ROATCE Payout Before TSR Adjustment Factor
(1) If the levels of Performance Measures attained falls between the amounts shown above, the applicable Payout Percentage will be determined by interpolation between the respective amounts shown above.
(2) The “Target Level” for ROATCE is l%, the “Target Level” for the TSR Adjustment Factor is l%, and the “Minimum Level” for ROATCE is l%.
(3) If the Minimum Level for ROATCE is not met, the PSUs eligible to vest will be forfeited.
(4) After the end of the Performance Period, the Committee will rank each member of the Comparison Group according to TSR. The Company’s TSR percentile will then be compared to TSRs of the Comparison Group, including the Company, to determine the TSR Adjustment Factor.
Performance Measure Factor Grid. Before Credit Modifier Payout With Credit Modifier <=l to lbps to >=l bps +0% to -15% < Min <l% 0% 0% up to 50% at Discretion of the Compensation Committee Min l l l - l
Performance Measure Factor Grid. Before Credit Modifier Payout With Credit Modifier <=lbps to >=l bps +0% to -15% < Min l 0% 0% up to 50% at Discretion of the Compensation Committee Min l l l - l l l l - l l l l - l l l l - l l l l - l l l l - l l l l - l Target l l l - l l l l - l l l l - l l l l - l l l l - l l l l - l l l l - l ▇▇▇ l l l - l