Specific Performance Goals definition
Specific Performance Goals means the number of the Vested Shares shall be equal to the number of the Adjusted Shares.
Specific Performance Goals. The Specific Performance Goals are set forth on Exhibit A. 1 For example, if the Vesting Start Date is determined by the Committee to be February 15, 2019, then 1 then 1/4 of the Adjusted Shares, if any (based on the Specific Performance Goals), will vest on each of (i) February 15, 2019, (ii) February 18, 2020 (because February 15, 2020 falls on a Saturday and Monday February 17, 2020 is a federal holiday, President’s day, the immediately following business day is February 18, 2020), (iii) February 16, 2021 (because Monday February 17, 2021 is a federal holiday, President’s day, the immediately following business day is February 16, 2021) and (iv) February 15, 2022, and the Vesting Period will be from February 15, 2019 to February 15, 2022. 2 See footnote 2, supra.
Specific Performance Goals means the number of the Vested Shares shall be equal to the sum of (1) the number of the Adjusted Shares Group I and (2) the number of the Adjusted Shares Group II; calculated as follows: ( ( (A) the number of the Target PSU Shares / 2) x the Revenue CAGR Multiplier ) + ( ( (A) the number of the Target PSU Shares / 2) x the Revenue ROIC Multiplier ); provided, however, that in case of a Sale Event during the Measurement Period, as determined by the Committee in its absolute discretion and to the extent as permitted under Code section 409A (without causing the PSUs to fail to be exempt from or comply with 409A), the Specific Performance Goals hereunder, including the Revenue CAGR Multiplier and/or the ROIC Multiplier, may be replaced by any of the Performance Goals defined under the Plan, after being adjusted for the accounting fair value of the Specific Performance Goals hereunder as of the Sale Event.6
Examples of Specific Performance Goals in a sentence
The Specific Performance Goals for the Performance Period are described in Exhibit A.
The Specific Performance Goals for the Performance Period shall relate to the following equally weighted performance measures: (i) revenue growth and (ii) return on invested capital (ROIC).
The parties agree on the following terms for the Specific Performance Goals: • “Specific Performance Goals” means the number of the Vested Shares shall be equal to the number of the Adjusted Shares.
For example, if a Sale Event takes place in June 2017, resulting in no new entity, and the Company ceases to exist, and if the Committee approves the goal replacement, the fiscal year 2017 will still be subject to the Specific Performance Goals hereunder while the fiscal years 2018 and 2019 will be subject to the aforementioned Performance Goals of the acquiring or surviving entity.
In the event a new entity results from the Sale Event and all stockholders of the Company immediately prior to the Sale Event become stockholders of the new entity, the Specific Performance Goals hereunder shall continue to apply to the PSUs, assumed, continued or substituted upon the Sale Event as if the new entity is the Company.
Without prejudicing any of the foregoing, including the Committee’s absolute discretion under Section (B) above, the parties agree on the following representative (and non-exhaustive) example for the Specific Performance Goals: If the number of the PRSU Shares, as stated on the Recipient’s Acceptance Page, is 100 shares of Common Stock, then the number of the Targeted PRSU Shares is 100 shares.
More Definitions of Specific Performance Goals
Specific Performance Goals. The Performance Goals are set forth on Exhibit A. This PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made as of the Award Date stated on the Acceptance Page by and between ▇▇▇▇▇▇▇ Manufacturing Co., Inc., a Delaware corporation (the “Company”), and the Recipient named on the Acceptance Page, with reference to the following facts: Capitalized terms used and not otherwise defined in this Agreement have the meanings ascribed to such terms in the amended and restated ▇▇▇▇▇▇▇ Manufacturing Co., Inc. 2011 Incentive Plan effective on April 21, 2015 (as amended from time to time, the “Plan”). The Board has delegated to the Committee all authority to administer the Plan. 1 121.8% of the total targeted 2017 PSUs. 2 For example, if the Award Date is determined by the Committee to be March 1, 2017 and the Vesting Date is determined by the Committee to be February 15, 2020, then the PSU Shares, if any (based on the Specific Performance Goals), will vest on February 18, 2020 and the Vesting Period should be from March 1, 2017 to February 18, 2020 (because February 15, 2020 falls on a Saturday and February 17, 2020 is a federal holiday, President’s day, the immediately following business day is February 18, 2020).
Specific Performance Goals. The Specific Performance Goals are set forth on Exhibit A. This PERFORMANCE & TIME BASED RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made as of the Award Date stated on the Acceptance Page by and between ▇▇▇▇▇▇▇ Manufacturing 1 100% of the Targeted PRSU Shares. 2 For example, if the Vesting Start Date is determined by the Committee to be February 15, 2018, then 1/4 of the PRSU Shares, if any (based on the Specific Performance Goals), will vest on each of February 15, 2018, February 15, 2019, February 18, 2020 (because February 15, 2020 falls on a Saturday and February 17, 2020 is a federal holiday, the President’s day, the immediately following business day is February 18, 2020) and February 15, 2021, and the Vesting Period should be from February 15, 2018 to February 15, 2021. 3 See footnote 2, supra.
Specific Performance Goals means the number of the Vested Shares shall be equal to the sum of (1) the number of the Adjusted Shares I and (2) the number of the Adjusted Shares II. “Targeted PRSU Shares” means 100% of the PRSU Shares.
Specific Performance Goals. For any given performance period, if both the required TMR Goal and Stated Goal is achieved, PSUs for such year (25% of PSUs per year) will be earned. Additionally, any PSUs from prior years where the Stated Goal was achieved will be deemed earned. The TMR Goal and Stated Goal that must be achieved for each performance period is outlined in the chart below: Performance Period (1)Year 1 (11/1/2021 – 12/31/2022)Year 2 (01/01/23– 12/31/2023)Year 3 (01/01/2024 – 12/31/2024)Year 4 (01/01/25 – 12/31/2025) TMR Goal$728,000,000$815,360,000$913,203,200$1,022,787,584 Stated GoalComplete exchange of 7% Notes and Refinance of 10% NotesAchieve an MSCI ESG Rating of B or higherAddress secured mortgage loans through purchase, sale, conveyance, refinance, restructure or extension, based on a schedule of debt maturities approved by the Committee.Execute extension option or refinance the term loan (1) Performance Periods are exclusive of the TMR Year 4 Grace Period and the Stated Goal Grace Period applicable to each year. Stated Goal Lookback At the end of the full four-year performance period, if all four Stated Goals are achieved within each respective Stated Goals Performance Period (including any applicable Grace Period), 50% of all remaining PSUs will be deemed earned provided the employment of the Participating Officer has not been terminated before the end of the full four-year performance period. Under the Stated Goal Lookback, the TMR Goals are not required to be met for the PSUs to be earned.
Specific Performance Goals means the number of the Vested Shares shall be equal to the sum of (1) the number of the Further Adjusted Shares I and (2) the number of the Further Adjusted Shares II; calculated as follows: ( ( (A) the number of the Targeted Shares x (B) the Fair Value Multiplier / 2) x the Revenue CAGR Multiplier ) + ( ( (A) the number of the Targeted Shares x (B) the Fair Value Multiplier / 2) x the Revenue ROIC Multiplier ); provided, however, that in case of a Sale Event during the Vesting Period, as determined by the Committee in its absolute discretion and to the extent as permitted under Code section 162(m) (without causing the PSUs to fail to meet the requirements of “qualified performance-based compensation” thereunder) and under Code section 409A (without causing the PSUs to fail to be exempt from or comply with 409A), the Specific Performance Goals hereunder, including the Revenue CAGR Multiplier and/or the ROIC Multiplier, may be replaced by any of the Performance Goals defined under the Plan, after being adjusted for the accounting fair value of the Specific Performance Goals hereunder as of the Sale Event.7 “Targeted Shares” means the PSU Shares as divided by 121.8%.