Common use of Performance Shares Payable Clause in Contracts

Performance Shares Payable. The number of Performance Shares payable is the Target Award multiplied by the average of the payout percentages determined using the Company’s cumulative TSR Percentile Rank through each of the last 4 quarters of the Performance Period. For performance levels falling between the values as shown above, the percentage of Shares payable will be determined by interpolation. Payments will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below. Cumulative TSR Percentile Rant from January 1, 2021 through: 61st 57th 72nd 69th 70th 62nd 54th 52nd 63rd 47th 45th 52nd

Performance Shares Payable. The number of Performance Shares payable is the Target Award multiplied by the average of the payout percentages determined using the Company’s cumulative TSR Percentile Rank through each of the last 4 four quarters of the Performance Period. For performance levels falling between the values as shown above, the percentage of Shares payable will be determined by interpolation. Payments will be made in Shares. For an illustration of this calculation, see the Hypothetical Example below, which assumes that Participant remained employed with the Company through the Vesting Date. Cumulative TSR Percentile Rant Rank from January 1July 29, 2021 2022 through: 50th 55th 61st 57th 72nd 69th 70th 62nd 54th 52nd 63rd 47th 45th 52nd