Determination of Earned Performance Share Units. Subject to earlier forfeiture in Section 3(b) of the Award Agreement, the number of your Performance Share Units that become earned shall be determined based on the Company’s relative total stockholder return (“rTSR”), which measures the Company’s TSR (as defined below) as compared to the TSR of the entities or indices in the Company’s performance peer group, as listed in Exhibit A to this Notice (the “Peer Group” and each member thereof a “Peer Group Member”), during the period beginning on February 10, 2021 and ending on December 29, 2023 (the “Performance Period”). The Company’s rTSR, as set forth below, shall determine the percentage of your target number of Performance Share Units that are earned. For rTSR performance between the values listed in the table below, the number of Performance Share Units that become earned shall be determined by straight-line interpolation. The Committee will review, analyze and certify the achievement of the Company’s performance under the rTSR goal for the Performance Period, and will determine whether the rTSR performance requirement for your Performance Share Units has been satisfied in accordance with the terms of this Agreement. Less than 30% 0% 30% 30% 40% 60% 50% 80% 60% 100% 70% 125% 80% 160% 90% or greater 200% All unearned Performance Share Units that are outstanding as of the date immediately following the last day of the Performance Period shall be forfeited and cancelled for no consideration if they do not become earned as set forth above.
Appears in 1 contract
Sources: Performance Share Unit Award Agreement (Chesapeake Energy Corp)
Determination of Earned Performance Share Units. Subject to earlier forfeiture in Section 3(b) of the Award Agreement, the number of your Performance Share Units that become earned shall be determined based on the Company’s relative total stockholder return (“rTSR”), which measures the Company’s TSR (as defined below) as compared to the TSR of the entities or indices in the Company’s performance peer group, as listed in Exhibit A to this Notice (the “Peer Group” and each member thereof a “Peer Group Member”), during the period beginning on February 10December 31, 2021 20__ and ending on December 2931, 2023 20__ (the “Performance Period”). The Company’s rTSR, as set forth below, shall determine the percentage of your target number of Performance Share Units that are earned. For rTSR performance between the values listed in the table below, the number of Performance Share Units that become earned shall be determined by straight-line interpolation. The Committee will review, analyze and certify the achievement of the Company’s performance under the rTSR goal for the Performance Period, and will determine whether the rTSR performance requirement for your Performance Share Units has been satisfied in accordance with the terms of this Agreement. Less than 3020% or less 0% 30% 30% 40% 60% 50% 80% 6055% 100% 70% 125% 80% 160% 90% or greater 200% All unearned Performance Share Units that are outstanding as of the date immediately following the last day of the Performance Period shall be forfeited and cancelled for no consideration if they do not become earned as set forth above.
Appears in 1 contract
Sources: Performance Share Unit Award Agreement (EXPAND ENERGY Corp)
Determination of Earned Performance Share Units. Subject to earlier forfeiture in Section 3(b) of the Award Agreement, the number of your Performance Share Units that become earned shall be determined based on the Company’s relative total stockholder return (“rTSR”), which measures the Company’s TSR (as defined below) as compared to the TSR of the entities or indices in the Company’s performance peer group, as listed in Exhibit A to this Notice (the “Peer Group” and each member thereof a “Peer Group Member”), during the period beginning on February 10December 31, 2021 20__ and ending on December 2931, 2023 20__ (the “Performance Period”). The Company’s rTSR, as set forth below, shall determine the percentage of your target number of Performance Share Units that are earned. For rTSR performance between the values listed in the table below, the number of Performance Share Units that become earned shall be determined by straight-line interpolation. The Committee will review, analyze and certify the achievement of the Company’s performance under the rTSR goal for the Performance Period, and will determine whether the rTSR performance requirement for your Performance Share Units has been satisfied in accordance with the terms of this Agreement. Less than 3020% 0% 20% 0% 30% 30% 40% 60% 50% 80% 60% 100% 70% 125% 80% 160% 90% or greater 200% All unearned Performance Share Units that are outstanding as of the date immediately following the last day of the Performance Period shall be forfeited and cancelled for no consideration if they do not become earned as set forth above.
Appears in 1 contract
Sources: Performance Share Unit Award Agreement (EXPAND ENERGY Corp)