Risk Performance Review Criteria. Unless and until amended prospectively by the Compensation Committee, the Risk Performance Review Criteria for a given performance year are as set forth below. An Annual Risk Performance Review is required with respect to a given performance year if triggered by either or both of the following criteria: (1) the Compensation Committee requires a review in its discretion; or (2) PNC’s return on economic capital, with specified adjustments (“ROEC”), is less than the applicable Compensation Committee-specified ROEC hurdle amount for that performance year. For purposes of this Award Agreement, “ROEC” will have the meaning set forth in Section 15.31. The “ROEC hurdle” for a given risk performance year will be the risk performance hurdle specified for that performance year by the Compensation Committee no later than March 30th of that performance year for purposes of comparison of ROEC to such hurdle for this Award. For the 2014 performance year, this hurdle as approved by the Compensation Committee is related to PNC’s cost of capital and is set at 7.68%. The Compensation Committee also approved a hurdle related to PNC’s cost of capital set at 7.68% for the 2014 performance year for purposes of comparison of ROEC to such hurdle for the 2013 Performance–Based Stock-Payable Restricted Share Units awards to members of PNC’s Corporate Executive Group.
Risk Performance Review Criteria. The Compensation Committee has determined that risk performance will be measured on an annual basis for each calendar year in the overall Performance Period and that, if specified risk performance criteria are not met as set forth in the Agreement with respect to any such calendar year, the Committee will review and consider whether, and if so to what extent, to apply, in its discretion, a downward adjustment to the Corporate Performance Factor for risk performance. Any such downward adjustment for risk performance with respect to a given calendar year would be reflected in an Annual Risk Performance Factor for that year of less than 100.00%. For each applicable covered annual performance measurement period in the applicable overall Performance Period that consists of a full calendar year, PNC will measure, as its “Risk Performance” with respect to that given covered calendar year performance period, PNC’s return on economic capital for that covered period as compared to PNC’s cost of capital with respect to that same covered period, all as set forth herein unless and until amended prospectively by the Compensation Committee. “Risk Performance Review Criteria.” If PNC’s ROEC (as defined below) for a covered full year annual performance measurement period in the applicable overall Performance Period equals or exceeds its Cost of Capital (as defined below) with respect to that same covered period, a risk performance review by the Compensation Committee is not required with respect to that covered period and the Annual Risk Performance Factor for that covered annual period will be 100.00% (i.e. this Factor will not include a downward adjustment for risk performance with respect to that year), unless the Compensation Committee determines, in its discretion, to include a downward adjustment, in which case this Factor will be such Committee-determined Annual Risk Performance Factor for such year. If PNC’s ROEC for a covered full year annual performance measurement period in the applicable overall Performance Period is less than its Cost of Capital with respect to that same covered period, a risk performance review by the Compensation Committee is required with respect to that covered period. The Compensation Committee will conduct a review to consider and determine whether, and if so to what extent, to include, in its discretion, a downward adjustment for risk performance in the Annual Risk Performance Factor with respect to that covered annual period. If the Co...
Risk Performance Review Criteria. Unless and until amended prospectively by the Compensation Committee, the Risk Performance Review Criteria for a given performance year are as set forth below.
Risk Performance Review Criteria. Unless and until amended prospectively by the Compensation Committee, the risk performance review criteria for a given performance year is whether PNC’s return on economic capital, with specified adjustments (“ROEC”), is at least equal to the applicable Compensation Committee-specified ROEC hurdle for that performance year. If the ROEC for a given performance year equals or exceeds this hurdle, an Annual Risk Performance Review is not triggered unless the Compensation Committee requires a review in its discretion. If the ROEC for a given year is less than this hurdle amount, an Annual Risk Performance Review by the Compensation Committee is required with respect to that performance year. For purposes of this Award Agreement, ROEC will have the meaning set forth in Section 15.30. The ROEC hurdle for a given risk performance year will be the risk performance hurdle specified for that performance year by the Compensation Committee no later than March 30th of that performance year for purposes of comparison of ROEC to such hurdle for this Award.
