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 375% of Annual Base Salary. For example, if the formulaic performance is 110% of target, the Executive’s formulaic payout is calculated at 240% of Annual Base Salary (i.e., 150% of Annual Base Salary for target, plus 90% of Annual Base Salary (6% x 150% x 10) = a Performance Bonus total of 240% 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 375287.5% of Annual Base Salary. For example, if the formulaic performance is 110% of target, the Executive’s formulaic payout is calculated at 240184% of Annual Base Salary base salary (i.e., 150115% of Annual Base Salary base salary for targetTarget, plus 9069% of Annual Base Salary base salary (6% x 150115% x 10) = a Performance Bonus bonus total of 240184% of Annual Base Salarybase salary).