Common use of Settlement Payment Clause in Contracts

Settlement Payment. a. In the event and only upon the achievement of the “Threshold” level of performance with respect to the Performance Goals as described in the table(s) set forth in Exhibit A to this Agreement during the Performance Period, which achievement must be certified in writing by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.

Appears in 4 contracts

Samples: Annual Performance Award Agreement (Toro Co), Annual Performance Award Agreement (Toro Co), Annual Performance Award Agreement (Toro Co)

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Settlement Payment. a. In the event and only upon the achievement of at least the “Threshold” level of performance with respect to at least one (1) of the Performance Goals as described in the table(s) set forth in Exhibit A to Section 3 of this Agreement during the Performance PeriodPeriod (and with respect to the Corporate Performance Measures, must include the “[ ]” Performance Measure), which achievement must be certified in writing by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to of this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.

Appears in 1 contract

Samples: Annual Performance Award Agreement (Toro Co)

Settlement Payment. a. In the event and only upon the achievement of the “Threshold” level of performance with respect to the Performance Goals as described specified in the table(s) tables set forth in on Exhibit A to of this Agreement during the Performance Period, which achievement must be certified in writing confirmed by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to of this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.

Appears in 1 contract

Samples: Annual Performance Award Agreement (Toro Co)

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Settlement Payment. a. (a) In the event and only upon the achievement of at least the “Threshold” Threshold level of performance with respect to at least one (1) of the Performance Goals as described in the table(s) set forth in Exhibit A to this Agreement during the Performance Period, which achievement must be certified in writing by the Committee following the expiration of the Performance Period, you will receive such amount in cash up to your Maximum Potential Payout under this Annual Performance Award as determined pursuant to Section 3 and Exhibit A to this Agreement and subject to applicable withholding. If none of the Performance Goals are achieved at the “Threshold” Threshold level of performance or above, then this Annual Performance Award will be forfeited and canceled and you will receive no payment in settlement thereof. You may not receive a greater amount in cash than your Maximum Potential Payout.

Appears in 1 contract

Samples: Annual Performance Award Agreement (Toro Co)

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