Common use of Number of Performance Shares Earned Clause in Contracts

Number of Performance Shares Earned. The number of Performance Shares earned based on Relative TSR performance is determined as follows: (a) Step 1: multiply ___% (i.e., the percentage weighting for Relative TSR) by the payout percentage attained based on Relative TSR to arrive at the percentage of Target Performance Shares earned based on Relative TSR; (b) Step 2: multiply the percentage of Target Performance Shares earned based on Relative TSR by the total number of Target Performance Shares; and (c) Step 3: increase or reduce the award calculated in Step 3 by the percentage that the Compensation Committee determines in its discretion. As an example, assume the Relative TSR payout percentage below is attained: Percentage Weighting x Payout Percentage Attained Percentage Target Shares Earned Relative TSR ___% x ___% = ___% Therefore, the number of Performance Shares earned based on Relative TSR is ___% of the number of Target Performance Shares.