Company Performance Factor definition
Examples of Company Performance Factor in a sentence
The Quarterly Company Performance Factor is determined based on the Company’s achievement of quarterly targets for client invoicing (80%) and expenses (20%), and may be modified upward or downward based on achievement of client satisfaction targets.
The Quarterly Performance Bonus is calculated by multiplying the employee’s Quarterly Target Performance Bonus (dollar amount) by the Quarterly Company Performance Factor and the Quarterly Personal Performance Factor.
The employee shall not be eligible for any Quarterly Performance Bonus for any quarter in which one or more of the following conditions exists: (a) employee’s employment ends before the completion of a given calendar quarter; (b) the Quarterly Company Performance Factor is less than 50%; (c) the employee was not in good standing, including, but not limited to, subject to a Performance Improvement Plan; or (d) the employee’s Quarterly Personal Performance Factor is less than 70%.
The Annual Retention Bonus is determined by multiplying the employee’s Target Annual Retention Bonus (dollar amount) by the Annual Company Performance Factor and the average of the Quarterly Personal Performance Factor used for the Quarterly Performance Bonus payments made to employee from January 1 through December 31 of the prior calendar year.
The employee shall not be eligible for any Annual Retention Bonus for any calendar year in which one or more of the following conditions exists: (a) employee’s employment ends before the completion of a given calendar year; (b) the Annual Company Performance Factor is less than 50%; or (c) the employee’s average Quarterly Personal Performance Factor is less than 70% for the calendar year.
If the Committee makes other changes in the manner in which it calculates payouts under the Company’s annual cash incentive program that will affect any Performance Period, then the Committee shall adapt the calculation methodology used under the annual cash incentive program as may be necessary to enable it to derive a Company Performance Factor for such Performance Period that may equitably be utilized for purposes of calculations under this Section 4.
After the end of each calendar year, the Compensation Committee shall determine the extent to which the performance goals have been met and the appropriate Company Performance Factor, from 0% to 200%, that is appropriate with the varying levels of performance for each goal.
As soon as practicable following the end of each Performance Period, the number of Shares issuable in settlement of one-third of the number of Units subject to this Agreement (the “Annual Share Settlement Amount”) will be determined by the Committee by multiplying one-third of the number of Units by the Company Performance Factor (described in Section 4(b) below) for that Performance Period.
After the end of each calendar year, the Compensation Committee will determine the extent to which such Performance Goals have been met and the appropriate Company Performance Factor, from 0% to 200%, that is appropriate with the varying levels of performance for each goal.
As an example, the determination of the Company Performance Factor for the annual cash incentive program for fiscal 2010 is described on pages 20-22 of the Company’s Proxy Statement for its annual meeting of stockholders held on November 4, 2010.