TSR Performance. One-half (50%) of the Performance Stock Units (the “TSR Units”) will be eligible for vesting only to the extent the relevant TSR (as defined below) targets are met. If the target TSR measurement is achieved, the Participant will be eligible to vest in the TSR Units (the “Target TSR Award”). The number of actual TSR Units that will be eligible to be paid to the Participant, subject to his/her continued employment (the “Actual TSR Payout”), if any, is determined based on the Company’s Total Shareholder Return for the calendar years 2010, 2011 and 2012, in the aggregate (the "TSR Performance Period"). The Actual TSR Payout, if any, will be subject to increases pursuant to the re-investment of dividends described in Section 6(b) below. The Participant’s Actual TSR Payout will be determined as follows: Ø If the Company’s TSR is equal to or greater than the 75th percentile, the Actual TSR Payout will be 150% of the Target TSR Award. Ø If the Company’s TSR is equal to the 50th percentile, the Actual TSR Payout will be 100% of the Target TSR Award. Ø If the Company’s TSR is equal to or less than the 25th percentile, the TSR Unit portion of the Award will be forfeited and terminate. Ø The payment percentage is interpolated for performance between the points indicated in the first three bullet points above on a straight-line basis.
Appears in 1 contract
Sources: Performance Stock Unit Agreement (DealerTrack Holdings, Inc.)
TSR Performance. One-half (50%) of the Performance Stock Units (the “TSR Units”) will be eligible for vesting only to the extent the relevant TSR (as defined below) targets are met. If the target TSR measurement is achieved, the Participant will be eligible to vest in the TSR Units (the “Target TSR Award”). The number of actual TSR Units that will be eligible to be paid to the Participant, subject to his/her continued employment (the “Actual TSR Payout”), if any, is determined based on the Company’s Total Shareholder Return for the calendar years 2010, 2011 and 2012, in the aggregate (the "TSR Performance Period"). The Actual TSR Payout, if any, will be subject to increases pursuant to the re-investment of dividends described in Section 6(b) below. The Participant’s Actual TSR Payout will be determined as follows: Ø If the Company’s TSR is equal to or greater than the 75th percentile, the Actual TSR Payout will be 150% of the Target TSR Award. Ø If the Company’s TSR is equal to the 50th percentile, the Actual TSR Payout will be 100% of the Target TSR Award. Ø If the Company’s TSR is equal to or less than the 25th percentile, the TSR Unit portion of the Award will be forfeited and terminate. Ø The payment percentage is interpolated for performance between the points indicated in the first three bullet points above on a straight-line basis.
Appears in 1 contract
Sources: Performance Stock Unit Agreement