Target Performance Shares definition

Target Performance Shares means of the Performance Shares, which is the number of Performance Shares which will be Earned Performance Shares if Holder’s Performance Percentage is 100%.

Target Performance Shares means the actual number of Performance Shares initially granted to the Participant pursuant to this Award Agreement, with such number of Performance Shares to be awarded to the Participant at the close of the Performance Cycle if the Company attains an Achievement Percentage of 100% for the Performance Goals associated with such Target Performance Shares.

Target Performance Shares means one-half of the Performance Shares which may be earned under this Award if there are no reductions in the number of Performance Shares under Section 5.

Examples of Target Performance Shares in a sentence

• Target Performance Shares are not Common Shares and have no voting rights or, except as stated in Section 6, dividend rights.

• The right to receive cash in excess of the number of Target Performance Shares (as adjusted for any Forfeiture Event pursuant to Section 4(a)) will be forfeited.

• Up to and including 100% of the Target Performance Shares as adjusted pursuant to Sections 4 and 7 of these Terms and Conditions will be settled in Common Shares and the amount, if any, above 100% of the Target Performance Shares as so adjusted will be settled in cash.

• This grant of Target Performance Shares does not create any contractual or other right to receive future grants of Target Performance Shares, or benefits in lieu of Target Performance Shares, even if Grantee has a history of receiving Target Performance Shares or other stock awards.

• Additionally, the Target Performance Shares are not part of normal or expected compensation or salary for any purposes, including, but not limited to calculation of any severance, resignation, termination, redundancy, end of service payments, bonuses or long-service awards.

More Definitions of Target Performance Shares

Target Performance Shares means a number of Performance Shares designated as a target number that may be earned by a Participant in respect to a given Performance Cycle.

Target Performance Shares shall have a total value of $312,000 (the “Performance Share Value”). The ultimate number of Performance Shares to be earned will be determined based on the performance of the Company versus specific performance objectives established by the Committee for the fiscal year following the year in which the Value Date (described below) falls (the “Measurement Period”). The number of such Target Performance Shares ultimately earned shall range from 0-175% of the number of Target Performance Shares calculated as the annual incentive calculation is calculated and will include performance against the Performance Criteria, or such other performance criteria as are established by the Committee from time to time. The Performance Shares earned will vest ratably over a thirty-six (36) month period.

Target Performance Shares means a bookkeeping entry that records the equivalent of Shares awarded pursuant to Section 4.2 of the Plan that is payable upon the achievement of the Performance Goal. Target Performance Shares are not Shares and have no voting rights or, except as stated in Section 6, dividend rights.

Target Performance Shares shall have a total value of $312,000 (the “Performance Share Value”). The ultimate number of Performance Shares to be earned will be determined based on the performance of the Company versus specific performance objectives established by the Committee for the fiscal year following the year in which the Value Date (described below) falls (the “Measurement Period”). The number of such Target Performance Shares ultimately earned shall range from 0-175% of the number of Target Performance Shares calculated as the annual incentive calculation is calculated and will include performance against the Performance Criteria, or such other performance criteria as are established by the Committee from time to time. The Performance Shares earned will vest ratably over a thirty-six (36) month period. (3) The number of Restricted Shares to be granted to equal the Restricted Share Value and the number of Target Performance Shares to be granted to equal the Performance Share Value, shall be determined based on the closing price of the Class A Shares on NASDAQ as of the day of the equity grant in question (the “Value Date”); provided, however, the number of Restricted Shares to be granted in connection with the initial public offering of OWM Public shall be determined based on the price offered to the underwriters in the offering. (4) For avoidance of doubt, except as otherwise provided herein, any Equity Grants which have not vested as of the Executive’s Termination Date shall be forfeited and shall not vest.

Target Performance Shares means one-half of the Maximum Performance Shares which may be earned under this Award.

Target Performance Shares means 50% of the total number of Performance Shares specified on the Notice of Performance Share Award and for each Performance Period means 12.5% of the total number of Performance Shares specified in the Grant Notice.

Target Performance Shares. []. The number of Performance Shares that will actually vest will be determined based on achievement of the Performance Metrics below.