Payout Level definition

Payout Level means the number of Shares represented by the Performance Share Units that are vested and deliverable to the Participant based on the extent to which the Performance Goals have been achieved, as determined and certified by the Committee following the Vesting Date; provided, however, that
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Payout Level means the number of shares of Stock represented by the Restricted Stock Units that are vested and deliverable to the Grantee based on the extent to which the Performance Goals have been achieved, as determined and certified by the Administrator following the Vesting Date; provided, however, that. a. for purposes of Paragraph 2(a) of the Agreement, the Payout Level shall be determined as follows: (i)(A) the three-year Cumulative Performance Period shall be deemed to end on the last day of the calendar quarter ending prior to the date the Grantee’s employment terminated; and (B) the extent to which the Performance Goal was achieved for the Cumulative Performance based on actual performance through the most recently completed calendar quarter prior to the date the Grantee’s employment terminated; and (ii) for any completed Fiscal Year Performance Period prior to the date the Grantee’s employment terminated, the extent to which the Performance Goal was achieved shall be determined and certified by the Administrator based on actual performance for the applicable Fiscal Year(s); and b. for purposes of Paragraph 2(b) of the Agreement, in the event a Sale Event occurs prior to the Vesting Date and a qualifying termination of employment occurs under Paragraph 2(b) of the Agreement, the Payout Level shall be determined as follows: (i) for any completed Fiscal Year Performance Period prior to the qualifying termination of employment under Paragraph 2(b) of the Agreement, the extent to which the Performance Goal was achieved shall be determined and certified by the Administrator based on actual performance for the applicable Fiscal Year(s); and (ii) with respect to any uncompleted Fiscal Year Performance Period and the Cumulative Performance Period, the Payout Level shall be 100% of the outstanding shares deliverable in respect of the uncompleted Fiscal Year Performance Period(s) and the Cumulative Performance Period as if the Performance Goals were achieved at the maximum level.
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Payout Level means the actual number of Shares to which the Participant may become entitled based on the extent to which the Performance Criteria have been achieved, as determined and certified by the Committee following the Vesting Date. The Payout Level shall be calculated by multiplying the Target Number of Restricted Stock Units by a percentage ranging from 0% to 150% as set forth in Exhibit A hereto; provided, however, that
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Examples of Payout Level in a sentence

  • Payout Level FFO Per Share Performance for the FFO Performance Period FFO Performance Multiplier The Administrator retains the discretion to adjust the FFO Performance Multiplier to address events or circumstances that are extraordinary or unusual in nature or infrequent in occurrence or that otherwise have an unintended effect on the calculation of the FFO Performance Multiplier, including, without limitation, debt or equity financings and pandemic-related events.

  • The number of Shares subject to the PSUs that are eligible to vest based upon the attainment level of the TSR performance goal during the Performance Period shall be equal to the product of (a) 50%, multiplied by (b) the number of Shares subject to the PSUs at the target performance level set forth in Section 1 of the Agreement, multiplied by (c) the applicable Payout Level set forth below.

  • Each PSU shall be payable up to 100% (Target Payout Level set forth below) in Common Stock and, to the extent that the percentage of a PSU earned at the end of the Performance Period exceeds 100% (Target Payout Level), in cash equal to the Fair Market Value of a share of Common Stock.

  • Target Operating Profit 1 Maximum Budget Payout Level Consolidated $31,000,000 $40,000,000 Childcraft $3,900,000 $5,000,000 Re-Print $5,500,000 $7,100,000 Sax $5,700,000 $7,400,000 Traditional $18,000,000 $23,200,000 Gresswell $750,000 $1,500,000 Education Access $900,000 $1,800,000 1 These figures are based on the most recent version of the budget.

  • The amount of any Bonus will depend on which Performance Goal Payout Level (as defined in Exhibit 1 hereto) Employee and the Company have attained.

  • In the event of a Change of Control prior to a Payment Date, the Administrator, as constituted immediately before such Change of Control, shall determine and certify the Payout Level (the “Change of Control Payout Level”) based on (i) actual performance through the most recent date prior to the Change of Control for which achievement of the Performance Goals can reasonably be determined; and (ii) the expected performance for the remainder of the Performance Period based on information reasonably available.

  • In the event of a Change of Control prior to [a Payment Date]1 / [the First Payment Date]2, the percentage of the Performance Share Units determined in accordance with the Statement of Performance Goals at the Change of Control Payout Level vests unless an award meeting the requirements of Paragraph 5(b)(ii) (a “Substitute Award”) is provided to Awardee to replace or adjust the Award.

  • If TSR is not positive (i.e., greater than 0%), payout cannot exceed the Payout Level for Target for the TSR portion of the award.

  • If the Participant ceases to be employed by the Company prior to the Vesting Date as a result of his death or Disability (within the meaning of Section 22(e)(3) of the Code), the percentage of the Restricted Stock Units equal to the applicable Payout Level, if any, shall become vested as of the date of his death or Disability (within the meaning of Section 22(e)(3) of the Code).

  • The amount of any Bonus will depend on which Performance Goal Payout Level (as defined in Exhibit 1 hereto) Employee and the Company have 2 attained.