Secondary Benchmark definition
Secondary Benchmark shall be deemed to have been achieved for any specified period if both (I) the IRR of a Company Investment for such specified period equals or exceeds six percent (6%) and (II) the IRR of a Company Investment for such specified period is at least 150 basis points in excess of the IRR of a Peer Investment for such specified period; provided, however, that, if both the Primary Benchmark and the Secondary Benchmark have been achieved for any specified period, the Secondary Benchmark shall be deemed not to have been achieved for such specified period.