Working Capital Based Award Clause Samples

Working Capital Based Award. This piece of the Award is based on the Company’s Working Capital measured on a three-year average basis for the Performance Period against the Company’s Target Working Capital of 30%. The Company’s Working Capital for the Performance Period will be the simple average of: (1) the Company’s Working Capital as of the end of December 31, 2015, (2) the Company’s Working Capital as of the end of December 31, 2016, and (3) the Company’s Working Capital as of the end of December 31, 2017. The Company’s “Working Capital” shall be the Company’s current assets (excluding cash) less the Company’s current liabilities. Any payment will be based on linear interpolation between threshold and maximum levels as detailed below.