Relative Performance Award definition

Relative Performance Award or “RPA” means, unless modified by the Committee pursuant to the authority granted to it herein, an award under the Plan which will be paid to a Participant that rewards Participants for changes in the Company’s Relative Performance compared to a group of Peer Companies.
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Relative Performance Award means the award which will be paid to a Participant, if the Company’s Relative Performance for a Performance Cycle satisfies the Performance Schedule contained in a Grant Agreement.
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Relative Performance Award means that portion of an LTIP Bonus which is based on a reward earned due to performance relative to a peer group of companies. Effective for Performance Cycles (as that term is defined in the LTIP) beginning on or after January 1, 2006, grants of Relative Performance Awards will no longer be available under the LTIP.
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Examples of Relative Performance Award in a sentence

  • If the Eligible Employee is otherwise selected by the Committee to participate in the Plan, the Eligible Employee will receive a Grant of a Relative Performance Award and/or a Strategic Performance Award for the most recent, active Performance Cycle.

  • Specifically, irrevocable elections by Participants of the time and form of payment of the Strategic Performance Award and Relative Performance Award under the Deferred Compensation Plan shall be made no later than the date that is six (6) months before the end of the applicable Performance Cycle in accordance with the Proposed Treasury Regulation section 1.409A-2(a)(7) and subsequent guidance.

  • A Participant will be vested in his Strategic Performance Award or Relative Performance Award, as the case may be, at the end of the Performance Cycle applicable to said Award provided the Participant is an Eligible Employee at the end of said Performance Cycle.

  • Moreover, the Relative Performance Award target amount and the Relative Performance measures shall be set forth in writing within ninety (90) days of the beginning of each Performance Cycle.

  • At the end of each Performance Cycle, the Committee shall evaluate the Company’s Relative Performance in comparison to the group of Peer Companies to establish what percentage of the Participant’s Relative Performance Award target amount will be awarded the Participant.

  • Notwithstanding anything contained in the Plan to the contrary, in no event shall any Relative Performance Award be awarded to any Participant for a Performance Cycle if the award is not based on the Company’s favorable performance as compared with the group of Peer Companies.

  • If the Employee is otherwise selected by the Committee to participate in the Plan, the Employee will receive a Grant of a Relative Performance Award and/or a Strategic Performance Award for the most recent, active Performance Cycle.

  • With respect to the Relative Performance Award, at the beginning of each Performance Cycle, the Committee shall establish the Participant’s Relative Performance Award target amount.

  • Upon final determination by the Committee of a Participant’s right to receive a distribution of a Relative Performance Award or Strategic Performance Award, the distribution shall be paid in cash as a lump sum as soon as practicable after such final determination by the Committee.

  • If your employment terminates during the Retention Period as a result of death or permanent and total disability or within two years after a Change of Control of the Company, the Relative Performance Award shall become earned and payable in accordance with its terms, notwithstanding such termination.


More Definitions of Relative Performance Award

Relative Performance Award means an award that entitles the Participant to earn Common Shares as determined in accordance with the terms and provisions of the 2013 VSEP based upon increases in relative total shareholder return of the Company compared to the performance of the NAREIT Index.
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Related to Relative Performance Award

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Performance Award Agreement means a written agreement between the Company and a Holder with respect to a Performance Award.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Target Award means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b).

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Cash Award means an award denominated in cash.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Period means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance-Based Award.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Performance Goal means a performance goal established by the Committee pursuant to Section 10.3.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.