Special Outperformance Pool definition
Special Outperformance Pool means the dollar value, if any, of 10% of the cumulative and compounded return to holders of common equity of the Company and Reckson Operating Partnership, L.P. ("ROP") (collectively, "Common Equity") based on the Base Price (including all dividends and stock appreciation) in excess of a cumulative and compounded return of 9% per annum during the four years completed before the fourth anniversary of the Date of Grant. For this purpose, such return shall be calculated as the product of (i) the sum of (A) the increase in market value of the per share price of the Common Stock over the Base Price as of the fourth anniversary of the Date of Grant and (B) the total amount of the dividends paid per share of Common Stock during such four-year period; less the amount equal to a cumulative and compounded return of 9% per annum on the Base Price, and (ii) the average annual weighted average shares (units) of Common Equity outstanding for such four-year period.
Special Outperformance Pool means the dollar value, if any, equal to 10% of the cumulative and compounded return to holders of common equity of the Company and Reckson Operating Partnership, L.P. ("ROP") (collectively, "Common Equity") based on the Special Base Price (including all dividends and stock appreciation) in excess of a cumulative and compounded return of 9% per annum during the period from the Date of Grant through the calendar year end immediately preceding the fourth Annual Vesting Date, up to, but not exceeding, a cumulative and compounded return of 15% per annum for such period. For this purpose, such return shall be calculated as the product of (i) the sum of (A) the increase in market value of the per share price of the Common Stock over the Special Base Price during the period from the Date of Grant through the calendar year end immediately preceding the fourth Annual Vesting Date and (B) the total amount of the dividends paid per share of Common Stock during such period, up to, but not exceeding, a cumulative and compounded return of 15% per annum for such period; less the amount equal to a cumulative and compounded return of 9% per annum on the Special Base Price, and (ii) the average annual weighted average shares (units) of Common Equity outstanding for such period. For this purpose, the increase, if any, of the per share price of the Common Stock shall be measured based upon the VWAP for the last ten trading days for the period ending at the calendar year end immediately preceding the fourth Annual Vesting Date and the regular quarterly Common Stock dividend with regard to the fourth quarter of such calendar year shall be included, even if not yet declared or paid.
Special Outperformance Pool means the dollar value, if any, of 10% of the cumulative and compounded return to holders of common equity of the Company and Reckson Operating Partnership, L.P. ("ROP") (collectively, "Common Equity") based on the Base Price (including all dividends and stock appreciation) in excess of a cumulative and compounded return of 9% per annum during the four years completed before the fourth anniversary of the Date of Grant. For this purpose, such return shall be calculated as the product of (i) the sum of (A) the increase in market value of the per share price of the Common Stock over the Base Price as of the fourth anniversary of the Date of Grant and
Examples of Special Outperformance Pool in a sentence
The dollar amount of Grantee's Special Outperformance Award that becomes vested on such fourth Annual Vesting Date will equal (i) the Special Outperformance Pool, multiplied by (ii) the Grantee's Special Outperformance Award Percentage.
The Grantee's actual Special Outperformance Award amount, if any, will be based on the Grantee's vested interest in a portion of the Special Outperformance Pool and, to the extent this amount as determined under Section 4(a) is less than 25% of the Target Amount, may be based on the Grantee's Target Amount as provided in Section 4(b).