Relative TSR Modifier. The Percentage of Target Award Number is subject to a TSR modifier (upward or downward by [applicable percentage]) based on the Company’s TSR Percentile, as set forth in the table below, subject to the Overall Final Award Cap set forth in paragraph 5 below, and provided that the positive modifier will not be applied if the Company’s TSR is negative. TSR Percentile Percentage TSR Modifier [applicable percentile] [applicable percentage] increase [applicable percentile] [applicable percentage] [applicable percentile] [applicable percentage] decrease
Relative TSR Modifier. After the Level of Achievement of the Relative Performance Goal is determined by the Administrator as provided in this Agreement, the Relative TSR Modifier shall be determined and applied in accordance with the TSR Modifier chart in Exhibit A attached hereto and made a part hereof. As used in this Agreement, “Relative Total Shareholder Return” and “Relative TSR” mean TFC’s total Common Stock shareholder return performance rank defined as a percentile for the Performance Period relative to the range of the Peer Group members’ total common stock shareholder return for the Performance Period. Total shareholder return for TFC and each Peer Group member shall be calculated based upon TFC’s Common Stock and the Peer Group members’ common stock appreciation during the Performance Period plus the value of dividends paid during the Performance Period on such stock (which dividends shall be deemed to have been reinvested in such underlying stock).
Relative TSR Modifier. Relative TSR (Percentile Performance of TFC TSR Relative to Peer Group TSR) TSR Modifier 25th or less 20% Additive reduction in Award payout Greater than 25th but less than 75th 0% Reduction or increase in Award payout 75th or greater 20% Additive increase in Award payout, provided that the maximum Award payout shall be 150% of Target %
Relative TSR Modifier. The final number of Shares to be paid under this Award Agreement will be calculated by adjusting the Participant’s total Preliminarily Adjusted Units upwards or downwards based on the Company’s Relative TSR performance compared to the Peers. The adjustment will be based on the table below. Relative TSR Percentile Rank TSR Modifier 25th Percentile or Less -50% 50th Percentile 0% 75th Percentile or Greater 50% If Relative TSR percentile rank exceeds the 25th percentile and is less than the 50th percentile, or if Relative TSR percentile rank exceeds the 50th percentile and is less than the 75th percentile, the TSR Modifier will be determined by straight-line interpolation between the applicable corresponding percentages set forth in the table. The total Award earned is calculated by first multiplying the number of the Preliminarily Adjusted Units by the TSR Modifier. The sum of (1) the Preliminarily Adjusted Units and (2) the product of the Preliminarily Adjusted Units and the TSR Modifier, not in excess of 225% of the Target Shares, is the Final Adjusted Units. Subject to the maximum value limitation set forth in paragraphs 4c of the Award Agreement, each Final Adjusted Unit represents a right to receive one Share. In no event will the Final Adjusted Units be less than zero. In no event will the number of Shares issued to the Participant under the Award exceed the maximum value limitation set forth in paragraph 4c of the Award Agreement.
Relative TSR Modifier. The Performance Units to be credited from Cash Flow from Operations results for the Performance Period are subject to a potential Relative TSR Modifier. The TSR performance of II-VI will be measured against the components of Xxxxxxx 2000 Index. If TSR performance is aligned with the 75th percentile TSR performance of the Xxxxxxx 2000 Index, the Performance Units credited based on the Cash Flow from Operations results will be multiplied by 125%. For every two percentage points below the 75th percentile TSR of the Xxxxxxx 2000 Index, the multiplier will be reduced by 1% to a minimum of 100% and for every two percentage points above the 75th percentile TSR of the Xxxxxxx 2000 Index, the multiplier will be increased by 1%. If II-VI’s TSR is negative for the three-year performance period, the multiplier will be fixed at 100%. See the table below for further illustration. Multiplier Applied to Performance Units Earned based on Cash Flow from Operations If Cumulative TSR is equal to or more than 50 percentage points below Market 75th Percentile or there is an absolute negative Cumulative TSR 100% If Cumulative TSR is below Market 75th Percentile by less than 50 percentage points and there is an absolute positive Cumulative TSR Subtract 1% from 125% for each 2% below Market 75th Percentile If Cumulative TSR equals Market 75th Percentile 125% If Cumulative TSR is above Market 75th Percentile by less than 50 percentage points Add 1% to 125% for each 2% above Market 75th Percentile If Cumulative TSR is above Market 75th Percentile by more than 50 percentage points 150% Definitions:
Relative TSR Modifier. The Relative TSR Modifier is calculated as follows. The Relative TSR shall modify the number of awards granted as shown in the table below, with pro rata increases, at 1/10th of 1% increments, between each listed percentage. ***Table*** Relative TSR is defined as the TSR of the Company as compared to the TSR of the TSR Comparator Group. TSR will be calculated based on the following formula: (((Ending share price + total dividends) / beginning share price)^(1/# of years))-1 The result will be expressed as a percentage. For this purpose, the beginning stock price will be the volume-weighted average closing stock price (VWAP) for the 20 trading days immediately preceding the performance period and the ending stock price will be the VWAP in the last 20 trading days of the performance period. Total dividends will be the aggregate amount of dividends per share of common stock, the record date of which occurred during the performance period. The TSR Comparator Group for the Performance Period is Avon Products, Beiersdorf AG, Church & Xxxxxx Inc., The Clorox Company, Colgate-Palmolive Co., Xxxxxxxxx Xxxxx Inc., Hasbro Inc., Xxxxxx XX & CO, Herbalife Ltd., Jarden Corp., Xxxxxxxx-Xxxxx Corporation, Lauder (Estee) Companies, Inc., Loreal Co., Mattel Inc., Xxxx Xxxxxxx Nutrition Co., Xxxxxx Rubbermaid, Inc., Nu Skin Enterprises, Procter & Xxxxxx Co., Reckitt Benckiser Group PLC and Spectrum Brands Holdings Inc. A member shall be deleted from the TSR Comparator Group during the three-year performance period by the Committee due to a merger, liquidation or other corporate event which causes the Member to cease to exist as a publicly traded company, and such change will be made retroactively to the beginning of the Performance Period.
Relative TSR Modifier. Determination of Conditional PSUs The number of Conditional PSUs with which you are credited, if any, at the end of the Performance Period shall be determined by multiplying (x) the number of Preliminary PSUs, if any, credited following the Initial Measurement Period by (y) the applicable Modification Factor determined in accordance with the following chart based on the Company’s Relative Total Stockholder Return over the Performance Period as compared to the Peer Group (defined below): Company Relative Total Stockholder Return Modification Factor Less than or equal to the 25th percentile of the Peer Group 85% Median (50th percentile) of the Peer Group 100% 75th percentile or greater of the Peer Group 115% Linear Interpolation When the Company’s Relative Total Stockholder Return Period falls between any of the percentiles set forth in the chart above, the Modification Factor shall be determined based on linear interpolation. Company Relative Total Stockholder Return The Company’s Relative Total Stockholder Return measured against the Peer Group shall be determined by first ranking the Company and each of the Peer Companies by their respective Total Stockholder Returns (highest to lowest) over the Performance Period. The Company’s Relative Total Stockholder Return shall be the Company’s percentile ranking determined from such numerical ranking, which percentile ranking shall be calculated as 100 multiplied by a fraction, the numerator of which is (x) the number of Peer Companies that are ranked lower than the Company by their respective Total Stockholder Returns and the denominator of which is (y) the number of Peer Companies in the Peer Group at the time of the determination minus one (1). Total Stockholder Return Total Stockholder Return for the Company and each of the Peer Companies shall be calculated in accordance with the following formula, with the result expressed as a percentage:(EB/BB)1/n - 1For purposes of the foregoing formula:“EB” = the sum of (x) the cumulative amount of the entity’s dividends per share for the Performance Period plus the arithmetic average per share closing price of such entity’s common stock for the last 20 consecutive trading days of the applicable Performance Period “BB” = the arithmetic average per share closing price of such entity’s common stock for the last 20 consecutive trading days prior to the beginning of the Performance Period“n” = the total number of years in the Performance Period. Peer Group The Peer Group for...
Relative TSR Modifier. The Average Percentage of Target Shares Earned determined as described above shall be further adjusted by multiplying such amount by the Relative TSR Modifier (as defined below), which shall be determined in accordance with the schedule set forth below based on the Relative TSR performance during the TSR Modifier Performance Period; provided, however, that if the Company’s TSR during the TSR Modifier Performance Period is negative, the Relative TSR Modifier shall in no event be greater than “No adjustment.” Performance Levels Relative TSR Percentile Relative TSR Modifier Threshold ≤25th .85 multiplier Target 50th No adjustment Maximum ≥75th 1.15 multiplier The modifier shall be determined using straight-line interpolation between the specified performance levels.
Relative TSR Modifier. After each Service Vesting Date, the number of shares of Common Stock deliverable with respect to such related Vesting Tranche shall be adjusted based on a relative total shareholder return modifier (the “Relative TSR Modifier”), which shall be based on the Company’s total shareholder return (“TSR”) relative to the peer group identified on the Company’s 2022 Definitive Proxy Statement (the “Proxy Peer Group”), during the Relative TSR Modifier performance period applicable to each Vesting Tranche. The Relative TSR Modifier shall increase or decrease the number of deliverable shares as set forth in the table below: Exhibit 10.6(a)(x) Company TSR Relative to Proxy Peer Group Relative TSR Modifier 75th Percentile or Above 105% Median 100% 25th Percentile or Below 95% Linear interpolation will be used for results between points set forth above. The Relative TSR Modifier applicable to each Vesting Tranche shall be measured during the performance periods set forth in the table below: Relative TSR Modifier Performance Period First Vesting Tranche April 1, 2022 to December 31, 2022 Second Vesting Tranche April 1, 2022 to December 31, 2023 Third Vesting Tranche April 1, 2022 to December 31, 2024 With respect to each Relative TSR Modifier performance period, the TSR for the Company and each of the companies in the Proxy Peer Group shall be calculated as to each company as follows: (i) the Ending Stock Price, minus the Beginning Stock Price, plus the Reinvested Dividends, divided by (ii) the Beginning Stock Price. For purposes of the preceding sentence, the following terms shall have the meanings set forth below:
Relative TSR Modifier. The Performance-Based RSUs to be credited from Adjusted EPS results for any Performance Year or the full 3-year Performance Period are subject to a potential Relative TSR Modifier. The Relative TSR performance will be evaluated for each Performance Year and the full 3-year Performance Period as a percentile ranking of CoreLogic versus the Corporation Peer Group (as defined below). If Adjusted EPS for the Performance Year, or the full 3-year Performance Period, is at or greater than the 110% of Target goal but the Corporation’s Relative TSR Percentile for that Performance Year or respective Performance Period is less than the 55th percentile, the percentage of units to be credited is 150% of target (rather than the higher percentage up to 200% calculated based on Adjusted EPS results and the linear interpolation described above). If Adjusted EPS for the Performance Year or respective Performance Period is lower than the Threshold goal but the Corporation’s Relative TSR Percentile for that Performance Year or Performance Period is above median (i.e., in the top two quartiles), the percentage of units corresponding to that time period to be credited is 50% of target (rather than 0% as would have been credited based on Adjusted EPS results alone). If Adjusted EPS for a Performance Year or the full 3-year Performance Period is at or greater than the applicable Threshold goal but less than 110% of the Target goal, no Relative TSR modifications will be applied to the credited Performance-Based RSUs. See Table 3 below for further illustration. TABLE 3 Adjusted EPS Performance by Performance Year or Performance Period Percentage of Units Credited(before Relative TSR Modifier) Relative TSR Modifier Treatment Greater than 110% of Target performance Greater than 150% of Target award (capped at 200%) Decrease percentage of units credited to 150% of Target award if Relative TSR is less than the 55th percentile 100% of Target performance to 110% of Target performance 100% of Target award to 150% of Target award No modifier Threshold performance to 100% of Target performance 50% of Target award to 100% of Target award No modifier Less than Threshold performance 0% of Target award Increase percentage of units credited to 50% of Target award if Relative TSR is greater than median Cumulative. No awards will be payable until the end of the Performance Period. At the end of the Performance Period, the number of Performance-Based RSUs that will vest will be the greater of (1) t...
