Common use of Payout Factor Clause in Contracts

Payout Factor. (a) The “Payout Factor” shall be the weighted average of the Performance Measure Payout Factor (as defined below) for each Performance Condition during the Award Period. The Performance Measure Payout Factor achieved by the Company for each Performance Condition during the Award Period shall be determined as follows: If the result achieved by the Company during the Award Period for the Performance Measure (“Performance Measure Result”) is between any two Performance Measure data points set forth in the below table, the Performance Measure Payout Factor shall be interpolated as follows: The excess of the Performance Measure Result over the Performance Measure of the lower data point shall be divided by the difference between the Performance Measure of the higher data point and the Performance Measure of the lower data point. The resulting fraction shall be multiplied by the difference between the Performance Measure Payout Factors in the above table corresponding to the two data points. The product of that calculation shall be rounded to the nearest hundredth of a percentage point and then added to the Performance Measure Payout Factor corresponding to the lower data point, and the resulting sum shall be the Performance Measure Payout Factor for that Performance Condition. (b) The “Performance Measures” for each Performance Condition, together with the weight attributed to the Performance Measure Payout Factor for each If the Performance Measure Result for a Performance Condition is: Then the “Performance Measure Payout Factor” for that Performance Condition shall be: Less than Threshold 0% Threshold 50% Target 100% Maximum 150%

Appears in 1 contract

Sources: Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.)

Payout Factor. (a) The “Payout Factor” shall be the weighted average of the Performance Measure Payout Factor (as defined below) for each Performance Condition during the Award Period. The Performance Measure Payout Factor achieved by the Company for each Performance Condition during the Award Period shall be determined as follows: If the result achieved by the Company during the Award Period for the Performance Measure (“Performance Measure Result”) is between any two Performance Measure data points set forth in the below table, the Performance Measure Payout Factor shall be interpolated as follows: The excess of the Performance Measure Result over the Performance Measure of the lower data point shall be divided by the difference between the Performance Measure of the higher data point and the Performance Measure of the lower data point. The resulting fraction shall be multiplied by the difference between the Performance Measure Payout Factors in the above table corresponding to the two data points. The product of that calculation shall be rounded to the nearest hundredth of a percentage point and then added to the Performance Measure Payout Factor corresponding to the lower data point, and the resulting sum shall be the Performance Measure Payout Factor for that Performance Condition. (b) The “Performance Measures” for each Performance Condition, together with the weight attributed to the Performance Measure Payout Factor for each If the Performance Measure Result for a Performance Condition is: Then the “Performance Measure Payout Factor” for that Performance Condition shall be: Less than Threshold 0% Threshold 50% Target 100% Maximum 150%

Appears in 1 contract

Sources: Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.)