Common use of Over Performance Clause in Contracts

Over Performance. The amount of formulaic Performance Bonus earned by the Executive shall be increased by 6% of the Target Bonus for each percentage of performance that exceeds the target performance goals for the year in question (rounded to the nearest percentage); provided, that the Performance Bonus earned in any one year shall not exceed 287.5% of Annual Base Salary, which shall become 312.5% of Annual Base Salary beginning with the 2017 Performance Bonus period. For example, if the formulaic performance is 110% of target for the 2017 Performance Bonus period, the Executive’s formulaic payout is calculated at 200% of Annual Base Salary (i.e., 125% of Annual Base Salary for target, plus 75% of Annual Base Salary (6% x 125% x 10) = a Performance Bonus total of 200% of Annual Base Salary).

Over Performance. The amount of formulaic Performance Bonus earned by the Executive shall be increased by 6% of the Target Bonus for each percentage of performance that exceeds the target performance goals for the year in question (rounded to the nearest percentage); provided, that the Performance Bonus earned in any one year shall not exceed 287.5375% of Annual Base Salary, which shall become 312.5% of Annual Base Salary beginning with the 2017 Performance Bonus period. For example, if the formulaic performance is 110% of target for the 2017 Performance Bonus periodtarget, the Executive’s formulaic payout is calculated at 200240% of Annual Base Salary base salary (i.e., 125150% of Annual Base Salary base salary for targetTarget, plus 7590% of Annual Base Salary base salary (6% x 125150% x 10) = a Performance Bonus bonus total of 200240% of Annual Base Salarybase salary).