Payout Formula. Subject to adjustment under Sections 3, 4, 5, 6, 7 and 8, the number of Performance Shares to be issued to Recipient shall be equal to the sum of (a) the Volume Growth Payout Shares, plus (b) the ROCE Payout Shares. The “Volume Growth Payout Shares” shall be equal to the Volume Growth Payout Factor as determined under Section 2.2 below and as modified by the TSR Modifier under Section 2.4 below, multiplied by the Volume Growth Target Share Amount. The “ROCE Payout Shares” shall be equal to the ROCE Payout Factor as determined under Section 2.3 below and as modified by the TSR Modifier under Section 2.4 below, multiplied by the ROCE Target Share Amount.
Appears in 2 contracts
Sources: Long Term Incentive Award Agreement (Schnitzer Steel Industries, Inc.), Long Term Incentive Award Agreement (Schnitzer Steel Industries, Inc.)