Common use of Performance Metric Clause in Contracts

Performance Metric. The Performance metric set forth herein is established for purposes of the grant of the Performance Shares for the Performance Period and is intended to be “performance-based” under Section 162(m) of the Code. The performance metric for the Performance Period ending shall be the Company’s attainment of pre-tax operating income of $ per share of Common Stock before the Company’s payment of any cash bonuses to its employees for performance during the Performance Period and any expenses incurred in connection with all Performance Share Awards for the Performance Period granted by the Company to Eligible Employees and Consultants, as set forth in the Company’s financial statements and as calculated in accordance with GAAP (the “Performance Target”). The number of shares of Common Stock awarded will be based on the level of the Performance Target achieved, as specified below (i.e., Awarded Shares). The terms and conditions governing the Performance Share Award will be construed and interpreted in a manner consistent with Section 162(m) of the Code and, without limiting the generality of the foregoing, the Committee will certify the attainment of the Level of Target Performance Achieved to the extent and in the manner required by Section 162(m) of the Code. Subject to the terms and conditions of this Agreement, a number of shares of Common Stock shall be awarded to the Participant on the Settlement Date, as follows: Percentage of Shares of Common Stock Represented by Performance Shares to Level of Target Performance Achieved be Awarded 120% and above 150% 100% 100% 80% 50% less than 80% 0%

Appears in 2 contracts

Samples: Performance Share Award Agreement (Marketaxess Holdings Inc), Performance Share Award Agreement (Marketaxess Holdings Inc)

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Performance Metric. The Performance metric set forth herein is established for purposes of the grant of the Performance Shares Award for the Performance Period and is intended to be “performance-based” under Section 162(m) of the Code. The performance metric for the Performance Period ending December 31, 2012 shall be the Company’s attainment of pre-tax operating income of $ $*** per share of Common Stock before the Company’s payment of any cash bonuses to its employees for performance during the Performance Period and any expenses incurred in connection with all Performance Awards granted under the Plan and all Performance Share Awards granted under the Stock Plan for the Performance Period granted by the Company to Eligible Employees employees and Consultantsconsultants, as set forth in the Company’s financial statements and as calculated in accordance with GAAP (the “Performance Target”). The number of shares of Common Stock awarded Participant will be eligible to receive a “Settlement Award” with a value based on the level of the Performance Target achieved, as specified below (i.e., Awarded Shares)below. The terms and conditions governing the Performance Share Award will be construed and interpreted in a manner consistent with Section 162(m) of the Code and, without limiting the generality of the foregoing, the Committee will certify the attainment of the Level of Target Performance Achieved to the extent and in the manner required by Section 162(m) of the Code. Subject to the terms and conditions of this Agreement, a number the value of shares of Common Stock the Settlement Award shall be awarded to the Participant determined on the Settlement Date, as follows: Percentage of Shares of Common Stock Represented by Performance Shares to September 30, Level of Target Performance Achieved Value of the Settlement Award will be Awarded 120Equal to the Following Percentage of the Adjusted Cash Target Award 130% and above 150% 100% 100% 80% 50% less than 80% 0%

Appears in 1 contract

Samples: Performance Award Agreement (Marketaxess Holdings Inc)

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Performance Metric. The Performance metric set forth herein is established for purposes of the grant of the Performance Shares Award for the Performance Period and is intended to be “performance-based” under Section 162(m) of the Code. The performance metric for the Performance Period ending December 31, 2012 shall be the Company’s attainment of pre-tax operating income of $ $*** per share of Common Stock before the Company’s payment of any cash bonuses to its employees for performance during the Performance Period and any expenses incurred in connection with all Performance Awards granted under the Plan and all Performance Share Awards granted under the Stock Plan for the Performance Period granted by the Company to Eligible Employees employees and Consultantsconsultants, as set forth in the Company’s financial statements and as calculated in accordance with GAAP (the “Performance Target”). The number of shares of Common Stock awarded Participant will be eligible to receive a “Settlement Award” with a value based on the level of the Performance Target achieved, as specified below (i.e., Awarded Shares)below. The terms and conditions governing the Performance Share Award will be construed and interpreted in a manner consistent with Section 162(m) of the Code and, without limiting the generality of the foregoing, the Committee will certify the attainment of the Level of Target Performance Achieved to the extent and in the manner required by Section 162(m) of the Code. Subject to the terms and conditions of this Agreement, a number the value of shares of Common Stock the Settlement Award shall be awarded to the Participant determined on the Settlement Date, as follows: Percentage of Shares of Common Stock Represented by Performance Shares to Level of Target Performance Achieved Value of the Settlement Award will be Awarded 120Equal to the Following Percentage of the Adjusted Cash Target Award 130% and above 150% 100% 100% 80% 50% less than 80% 0%

Appears in 1 contract

Samples: Performance Award Agreement (Marketaxess Holdings Inc)

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