Performance Determination Clause Samples
The Performance Determination clause establishes the criteria and process for assessing whether a party has met its contractual obligations. Typically, it outlines the standards, methods, or benchmarks that will be used to evaluate performance, such as completion of deliverables, achievement of milestones, or adherence to quality requirements. This clause ensures that both parties have a clear understanding of how performance will be measured, reducing the risk of disputes and providing a basis for enforcement or remedies if obligations are not fulfilled.
Performance Determination. Following the last day of the Performance Period and subject to the Participant’s continued employment through the last day of the Performance Period (except as provided in Section 4(c)(i)(A) or Section 4(d) below), the total number of RSUs earned under this Section 4 shall be calculated by the Committee as follows:
(i) For each Performance Component, the total number of RSUs earned and issuable shall be equal to the product of (x) the Target Award Amount, multiplied by (y) the Relative Weighting for such Performance Component, multiplied by (z) the Achievement Percentage for such Performance Component. The foregoing calculation shall be made promptly following the end of the Performance Period. In the event that the Company’s actual performance does not meet the target level for a Performance Component, no RSUs shall be earned in respect of that Performance Component.
(ii) The levels of achievement with respect to any Performance Component shall be adjusted from time to time by the Committee as it deems equitable and necessary in light of acquisitions, dispositions and other non-routine and opportunistic expenses, transactions or extraordinary or one-time events that impact the Company’s operations or the measurement of any Performance Component.
Performance Determination. The Grantee’s Final Award, if any, shall be equal to the number of shares of Phantom Stock resulting from the Committee’s determination of the achievement of the Performance Goal(s) over the Performance Period(s) specified on Schedule A attached hereto.
Performance Determination. The Units shall be earned equal to:
(i) with respect to ROIC, (A) 37.5% multiplied by (B) the “Percentage of Units Earned” as indicated in Table I below based on the achievement during the Performance Period of ROIC at the threshold, target, or maximum levels designated in Table I below;
(ii) with respect to Total Organic Revenue Growth %, (A) 37.5% multiplied by (B) the “Percentage of Units Earned” as indicated in Table II below based on the achievement during the Performance Period of Total Organic Revenue Growth % at the threshold, target, or maximum levels designated in Table II below; and (iii) with respect to Relative TSR, (A) 25% multiplied by (B) the “Percentage of Units Earned” as indicated in Table III below based on the achievement during the Performance Period of Relative TSR at the threshold, target, or maximum levels designated in Table III below
Performance Determination. Unless otherwise determined by the Committee, in the event of a Change in Control prior to the end of the Performance Period, the Committee shall, in its sole discretion, adjust the performance goals set forth in Schedule A to account for a shortened performance period through the date of the Change in Control and determine the Earned Units based on actual performance against such adjusted goals through the date of the Change in Control (such Units, the “CIC Earned Units”).
Performance Determination. Performance, except for batteries, is calculated using a “last 10-of-10 baseline method” with a same-day adjustment two hours before the start of the event. For battery resources, performance in Scheduled Dispatch is calculated without either a baseline or a same-day adjustment. Assets will never be charged a fee for poor performance. However, since this is a pay-for- performance offering, poor performance on any or all events will decrease the incentive amount paid. Not participating in an event, or having negative performance during an event, will be included in the Asset’s seasonal average performance calculation.
Performance Determination. Performance is calculated by subtracting the event day load during the event from the sum of the Asset’s baseline and baseline adjustment. Example of an event day performance: Time Interval Asset’s Baseline Event Day Load Baseline Adjustment Event Day Performance Noon – 1pm 500kW 600kW 100kW Performance = Baseline + Adjustment – Event Day 2pm – 5pm 500kW 400kW 500kW + 100kW – 400kW = 200kW If the Asset produces more energy than it consumes during the baseline period or the event day through permitted and interconnected onsite generation or discharging energy storage, the net energy use will be used to calculate the Asset’s performance in the same process detailed above.
Performance Determination. The Chief Executive Officer of MPC shall, in his discretion and within five (5) days following the Closing Date, determine your performance in relation to all duties, tasks and responsibilities assigned to you as an MPC leader in the Speedway business to implement a successful transition of the business from August 2, 2020 to the Closing Date, based on the following performance levels: (i) meets expectations, or (ii) does not meet expectations.
Performance Determination. As set forth in the 2013 Long-Term Incentive Plan.
Performance Determination. The Governing Documents specify how performance is quantified, including measurement equipment and location, measurement units and frequency, and calculations or estimating methods. This is usually done with revenue grade meters that measure energy in intervals synchronized to the delivery schedule for service. In addition, periodic power measurements can be used to estimate energy over the performance period.
Performance Determination. The number of PIUs and the amount of the CIA into which the Participant will be eligible to vest shall be determined based on the attainment of the overall corporate and business unit performance goals, as applicable, (collectively, the “Performance Goals” and each, a “Performance Goal”) set forth on, and in accordance with, Schedule I attached hereto during the period commencing on January 1, 2014 and ending on December 31, 2014 (the “Performance Period”). As soon as practicable following the completion of the Performance Period, the Committee shall determine and certify the actual level of attainment of the Performance Goals. On the basis of that certified level of attainment, (i) the number of PIUs will be multiplied by the applicable percentage determined in accordance with the percentile matrix set forth on Schedule I attached hereto (such product, the “Adjusted PIUs”) and (ii) the amount of the CIA will be multiplied by the applicable percentage determined in accordance with the percentile matrix set forth on Schedule I attached hereto (such product, the “Adjusted CIA”). The number of Adjusted PIUs and the amount of the Adjusted CIA resulting from such calculations shall constitute the maximum number of PIUs and the maximum amount of the CIA into which the Participant may vest in accordance with Section 3(b) below.