Common use of Performance Measure Clause in Contracts

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 2016. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

AutoNDA by SimpleDocs

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162018. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162020. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.. Exhibit 99.2

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162012. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted nonbudgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162019. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.. Exhibit 99.2

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162014. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

AutoNDA by SimpleDocs

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162013. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted nonbudgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's ’s net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's ’s net income for the calendar year 20162011. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's ’s audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted nonbudgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Performance Measure. The Performance Measure applicable to the Performance Period is established by the Human Resources Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and requires the Company's net income for the calendar year of at least three of the five full calendar years during the Performance Period to exceed the Company's net income for the calendar year 20162021. For purposes of the Performance Measure, “net income” shall be as reflected in the Company's audited consolidated financial statements for the applicable calendar year. Following the Performance Period, the Committee shall determine whether the Performance Measure has been satisfied for the Performance Period and shall recommend that the Board approve the vesting of the RSUs. In calculating the Performance Measure, the Committee may make adjustments, as approved by the Board, either positively or negatively for one-time events and extraordinary non-budgeted items. Upon vesting pursuant to this ARTICLE II, the RSUs shall be paid as provided in ARTICLE VII.. Exhibit 99.2

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Northwestern Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.