Payout multiple definition
Payout multiple means the number or multiple created
Payout multiple means the payout multiple set forth in the Lilly Relative Total Shareholder Return Performance Levels table set forth on the first page of this document, representing the attainment level of ▇▇▇▇▇’▇ rTSR, measured against the performance goal attainment levels set forth in the table.
Payout multiple means defined as the number or
More Definitions of Payout multiple
Payout multiple means the number or multiple created 922 by dividing the statutorily defined claims-paying capacity as 923 determined in subparagraph (4)(c)1. by the aggregate
Payout multiple means the payout multiple set forth in the Lilly Relative Total Shareholder Return Performance Levels table set forth on the first page of this document, representing the attainment level of Lilly’s rTSR, measured against the performance goal attainment levels set forth in the table.
Payout multiple shall be a value equal to:
(i) 0.0 if the CAGR of the Company’s TSR for the Performance Cycle is less than 2%;
(ii) 0.2 if the CAGR of the Company’s TSR for the Performance Cycle is 5%; and
(iii) 0.2 plus an additional 0.2 for each 0.5% increase in the CAGR of the Company’s TSR above 5% for the Performance Cycle; provided, however that in no event shall the Payout Multiple be greater than 5.0.
Payout multiple means the payout multiple set forth in the Performance Levels Table, representing the attainment level of ▇▇▇▇▇’▇ rTSR, measured against the performance goal attainment levels set forth in the Performance Levels Table, subject to the following reduction. In the event ▇▇▇▇▇’▇ TSR for the Performance Period is negative (and without regard to the TSR attainment level of the Peer Group) and the Payout Multiple exceeds 100%, the Payout Multiple shall be reduced to the greater of (i) 100% or (ii) the Payout Multiple based on the rTSR attainment level that would have otherwise been determined in accordance with the Performance Levels Table without regard to the reduction contemplated under this sentence, reduced by 25%. For the avoidance of doubt, if the Payout Multiple is equal to or less than 100%, the Payout Multiple shall not be subject to the adjustment contemplated under the preceding sentence.
Payout multiple means the number or multiple created by dividing the statutorily defined claims-paying capacity as determined in subpara- graph (4)(c)1. by the aggregate reimbursement premiums paid by all insur- ers estimated or projected as of calendar year-end.
Payout multiple means the quotient of (i) the Net Holdback Fund divided by (ii) $5,000,000; provided, that if the Holdback Fund includes amounts in the Outstanding Claim Reserve and the Holders later become entitled to such amounts then the Payout Multiple for purposes of determining any additional payment to each Holder shall be the quotient of (i) the amount which was previously included in the Outstanding Claim Reserve that is to be paid to the Holders (and, for the avoidance of doubt, excluding the amount which is to be paid to the Lenders in accordance with Loan Interest Payoff Amount (as calculated in accordance with the proviso set forth in the definition of Loan Payout Multiple) and the Convertible Loan Payoff and Release) divided by (ii) $5,000,000.
Payout multiple is determined according to the table below using the left column if the Company’s Annualized Stock Price Growth equals or exceeds the median Peer Group Annualized Stock Price Growth and the right column if the Company’s Annualized Stock Price Growth is less than the median Peer Group Annualized Stock Price Growth. Company’s Annualized Stock Price Growth Company’s Annualized Stock Price Growth Equals or Exceeds Median Peer Group Annualized Stock Price Growth Company’s Annualized Stock Price Growth Is Less Than Median Peer Group Annualized Stock Price Growth * If the Company’s Annualized Stock Price Growth falls between any two scheduled levels, the actual Payout Multiple for determining the number of PRSUs that will be earned will be calculated using straight line interpolation between such levels. For the avoidance of doubt, if the Company’s Annualized Stock Price Growth is below the Threshold level, no PRSUs will be earned. The Company’s Annualized Stock Price Growth and the Peer Group Annualized Stock Price Growth with respect to any member thereof shall be equitably adjusted to reflect any extraordinary cash dividend, spin off, stock split, reverse stock split, stock dividend, recapitalization or other similar change affecting the number or value of outstanding shares of Common Stock. For purposes of this Exhibit A, the following terms have the following meanings: