Common use of Performance Restrictions Clause in Contracts

Performance Restrictions. The Performance Restrictions shall lapse only upon both the Grantee’s continued employment through [ ] and the date the Committee certifies the following results (including interpolation between the results, expressed as a percentage of the target except as otherwise noted below): (i) The Performance Restrictions of fifty percent of the Award shall lapse based on achievement of [cumulative “net operating earnings” per Share] for the Performance Period in accordance with the following schedule: (ii) The Performance Restrictions of fifty percent of the Award shall lapse based on the Company’s positive Relative Total Shareholder Return (“RTSR”) as of the last day of the Performance Period in accordance with the following schedule: * Relative Total Shareholder Return (RTSR) is the annualized growth in the dividends and share price of a share of the Company’s common stock, calculated using a 20 day trading average of the Company’s closing price beginning December 31, 2013 and ending December 31, 2016 compared to the TSR performance of a peer group of companies determined by the Committee at its meeting on January 30, 2014. ** There is no interpolation between goals below the 50th percentile for the RTSR metric.

Appears in 1 contract

Sources: Performance Share Award Agreement (Columbia Pipeline Group, Inc.)

Performance Restrictions. The Performance Restrictions shall lapse only upon both the Grantee’s continued employment through [ ] February 28, 2017 and the date the Committee certifies the following results (including interpolation between the results, expressed as a percentage of the target except as otherwise noted below): (i) The Performance Restrictions of fifty percent of the Award shall lapse based on achievement of [cumulative “net operating earnings” per Share] Share for the Performance Period in accordance with the following schedule:: >$5.63 200% (ii) The Performance Restrictions of fifty percent of the Award shall lapse based on the Company’s positive Relative Total Shareholder Return (“RTSR”) as of the last day of the Performance Period in accordance with the following schedule: >40th and <50th** 50% *Relative Total Shareholder Return (RTSR) is the annualized growth in the dividends and share price of a share of the Company’s common stock, calculated using a 20 day trading average of the Company’s closing price beginning December 31, 2013 and ending December 31, 2016 compared to the TSR performance of a peer group of companies determined by the Committee at its meeting on January 30, 2014. ** There is no interpolation between goals below the 50th percentile for the RTSR metric.

Appears in 1 contract

Sources: Performance Share Award Agreement (Nisource Inc/De)