Minimum Performance Goal definition
Examples of Minimum Performance Goal in a sentence
Except in the event of a Change in Control as provided in Section 4(b) and Section 6, no Performance Share Awards will be deemed earned pursuant to this Agreement, nor will the Holder be entitled to receive any shares of Common Stock under this Agreement, unless the applicable Minimum Performance Goal set forth in Section 2 is attained or exceeded for one or more of the Performance Years in the Award Period (as such terms are defined in Section 2).
The Bonus Award Performance Goals are as follows: aggregate Fully-Diluted Earnings Per Share of the Company for fiscal years 2008, 2009 and 2010: Bonus Award Minimum Performance Goal > than $ 3.30 Bonus Award Maximum Performance Goal $ 3.62 Achievement of the Bonus Award Performance Goals will be measured when the Company’s Fully-Diluted Earnings Per Share for fiscal year 2010 is released to the public.
In the event the Bonus Award Minimum Performance Goal is not met, then the Rights will be forfeited to the Company and no Bonus Award will be payable.
In no event may the Committee, directly or indirectly, increase the number of Performance Share Awards that will be earned in the event the Minimum Performance Goal, the Maximum Performance Goal or any particular level of EPS between the Minimum Performance Goal and the Maximum Performance Goal is attained.
Performance‑Based Forfeitures The Shares allocated to the Annual Performance Period will automatically terminate and be forfeited if the Company’s Performance Goal in the Annual Performance Period, as determined by the Committee, is less than the Minimum Performance Goal for the Annual Performance Period.
The Performance Goals are as follows: aggregate Fully-Diluted Earnings Per Share of the Company for fiscal years 2008, 2009 and 2010: Minimum Performance Goal $ 3.15 _______ Threshold Performance Goal $ 3.22 _______ Target Performance Goal $ 3.30 _______ Achievement of the Performance Goals will be measured when the Company’s Fully-Diluted Earnings Per Share for fiscal year 2010 is released to the public.
In the event the Company achieves Fully-Diluted Earnings Per Share that are between the Bonus Award Minimum Performance Goal and the Bonus Award Maximum Performance Goal, then the number of Rights which shall vest shall be determined by linear interpolation and the remainder of the Rights will be forfeited to the Company and no Bonus Award associated with such forfeited Rights shall be payable.
Payment of the Bonus Award will not be made unless the Committee has certified that the Quarterly Minimum Performance Goal has been met.
Performance‑Based Forfeitures The tranche of Shares allocated to each annual performance period will automatically terminate and be forfeited if the Company’s Performance Goal in that Performance Period, as determined by the Committee, is less than the Minimum Performance Goal for that performance period.
If the Quarterly Minimum Performance Goal for a particular quarter is not met, no award payment will be made hereunder.