Performance Measures for Award Sample Clauses
The 'Performance Measures for Award' clause defines the specific criteria or standards that must be met for a party to qualify for a particular award, such as a bonus, incentive, or contract extension. Typically, this clause outlines measurable objectives—like achieving certain sales targets, completing milestones within set deadlines, or maintaining quality benchmarks—that are used to assess performance. By clearly establishing what constitutes satisfactory performance, the clause ensures transparency and fairness in the award process, reducing disputes and aligning expectations between the parties involved.
Performance Measures for Award. The pre-established three- (3-) year Performance Period’s Performance Measures (as defined in Section 2(c)(i) below) applicable to the Award, the Participant’s targeted percentage of the Participant’s average base salary during the Performance Period (“Participant’s Target %”), Levels of Achievement, and the potential projected cash payout to the Participant, based upon the Level of Achievement, are as follows:
(i) Performance Measures:
Performance Measures for Award. The pre-established Performance Measures and Levels of Achievement (each as defined in Exhibit A) applicable to the Award are set forth in Exhibit A.
Performance Measures for Award. The pre-established three- (3-) year Performance Period’s Performance Measure (as defined in Section 2(c)(i) below) applicable to the Award, the Participant’s targeted percentage of the Participant’s average base salary during the Performance Period (“Participant’s Target %”), Levels of Achievement, and the potential projected cash payout to the Participant, based upon the Level of Achievement, are as follows:
(i) Performance Measure: The average return on shareholders’ common equity for BB&T during the Performance Period determined in accordance with United States generally accepted accounting principles (“BB&T GAAP ROCE”) relative to the average, by company, return on shareholders’ common equity achieved by each company of the Peer Group during the Performance Period (“Peer Group GAAP ROCE”).
(ii) For purposes of the Award, there shall be levels of achievement (“Levels of Achievement”), including, threshold (“Threshold”), target (“Target”), and maximum (“Maximum”). The Threshold Level of Achievement shall be a BB&T GAAP ROCE of the twenty-fifth (25th) percentile of the Peer Group GAAP ROCE; the Target Level of Achievement shall be a BB&T GAAP ROCE of the fiftieth (50th) percentile of the Peer Group GAAP ROCE; and the Maximum Level of Achievement shall be a BB&T GAAP ROCE of the seventy-fifth (75th) percentile of the Peer Group GAAP ROCE. The Levels of Achievement range from the Threshold Level of Achievement to the Maximum Level of Achievement as illustrated in the Level of Achievement Chart attached hereto as Exhibit A and made a part hereof.
(iii) For avoidance of doubt in the interpretation of the Exhibit A Level of Achievement Chart, there will not be an Award payout if the Threshold Level of Achievement is not attained for the Performance Period. If the Threshold Level of Achievement is attained for the Performance Period, the Award payout to the Participant will be fifty percent (50%) of the Participant’s Target %. If the Target Level of Achievement is attained for the Performance Period, the Award payout to the Participant will be one hundred percent (100%) of the Participant’s Target %. If the Maximum Level of Achievement is attained for the Performance Period, the Award payout to the Participant will be one hundred fifty percent (150%) of the Participant’s Target %.
(iv) The projected Award payout to the Participant, if either the Target Level of Achievement or if the Maximum Level of Achievement is attained for the Performance Period, is summar...
Performance Measures for Award. The pre-established three- (3-) year Performance Period’s Performance Measures (as defined in Section 2(c)(i) below) applicable to the Award and Levels of Achievement are as follows:
(i) Performance Measures and Relative TSR/TSR Modifier:
Performance Measures for Award. The pre-established three- (3-) year Performance Period’s Performance Measures (as defined in Section 2(c)(i) below) applicable to the Award, the Participant’s targeted percentage of the Participant’s average base salary during the Performance Period (“Participant’s Target %”), Levels of Achievement, and the potential projected cash payout to the Participant, based upon the Level of Achievement, are as follows:
(i) The Performance Measures and Levels of Achievement for the Award, including a Relative TSR Modifier, are set forth in Exhibit A attached hereto and made a part hereof.
(ii) The projected Award payout to the Participant, if either the Target Level of Achievement for both the Absolute Performance Goal and the Relative Performance Goal, or if the Maximum Level of Achievement for both the Absolute Performance Goal and Relative Performance Goal is attained for the Performance Period, is summarized in the following chart (with certain assumptions concerning the Participant’s base salary for 2024, 2025 and 2026): 2024 Base Salary1 2025 Base Salary1 2026 Base Salary1 Participant’s Target % Target Payout (if Target Level of Achievement Attained)2 Maximum Payout (if Maximum Level of Achievement Attained)2 $ $ $ % $3 $3
(iii) For purposes hereof, the term “Peer Group” means Bank of America Corporation; Citizens Financial Group, Inc.; Fifth-Third Bancorp; JPMorgan Chase and Company; KeyCorp; M&T Bank Corporation; PNC Financial Services Group, Inc.; Regions Financial Corporation; U.S. Bancorp; ▇▇▇▇▇ Fargo & Company.