Common use of TSR Performance Clause in Contracts

TSR Performance. For two-thirds of the Award, as soon as administratively feasible following the end of the Performance Period, the Committee shall determine and certify the TSR Performance Percentile and the resulting Payout Percentage as follows (using straight-line interpolation between the 30th percentile and the 50th percentile and between the 50th percentile and the 100th percentile): Ranked below 30th percentile 0% Ranked at 30th percentile 50% Ranked at 50th percentile 100% Ranked at the 100th percentile 200% Notwithstanding anything in this Award Agreement to the contrary, if the Company’s TSR calculated for the Performance Period is negative, then the Payout Percentage under this Paragraph 3(a) shall not exceed 100% regardless of the TSR Performance Percentile. Notwithstanding anything in this Award Agreement to the contrary, the Committee has the sole and absolute authority and discretion to reduce the Payout Percentage under this Paragraph 3(a) as it may deem appropriate.