Relative TSR Performance. Relative Total Shareholder Return Performance (“Relative TSR Performance”) will determine fifty percent (50%) of the Target Amount (“TSR Percentage”). Relative TSR Performance is defined in Section 4(b) below. The percentage of the TSR Percentage that will be paid out, if any, is based on the following table: Relative TSR PerformancePercentile Ranking Percentage Payoutof TSR Percentage 85th or above 200% 50th 100% 25th 50% Below 25th 0% To the extent that the Company’s Relative TSR Performance ranks in a percentile between the 25th and 85th percentile in the table above, then the TSR Percentage payout will be interpolated between the corresponding TSR Percentage payout set forth above. In addition to the foregoing payments, and regardless of the Company’s Relative TSR Performance, the following may be earned: (i) an additional payment of 25% of the TSR Percentage will be made if the Company’s Price-Earnings Ratio (as defined in Section 4(c) below) is at or above the 50th percentile and below the top third of the group of companies (inclusive of the Company) used to measure Relative TSR Performance in accordance with Section 4(b), or (ii) an additional payment of 50% of the TSR Percentage will be made if the Company’s Price-Earnings Ratio is at or above the top third of the group of companies (inclusive of the Company) used to measure Relative TSR Performance in accordance with Section 4(b) (the “Performance Adder”). The Committee may reduce or eliminate payment of the Performance Adder in its sole discretion. The overall percentage payment under the entire Award may not exceed 200% of the Target Amount.
Appears in 1 contract
Sources: Goal Based Stock Award Agreement (Virginia Electric & Power Co)
Relative TSR Performance. Relative Total Shareholder Return Performance (“Relative TSR Performance”) will determine fifty percent (50%) of the Target Amount (“TSR Percentage”). Relative TSR Performance is defined in Section 4(b) below. The percentage of the TSR Percentage that will be paid out, if any, is based on the following table: Relative TSR PerformancePercentile Ranking Performance Percentage Payoutof TSR Percentage Payout 85th or above 200% 50th 100% 25th 50% Below 25th 0% To the extent that the Company’s Relative TSR Performance ranks in a percentile between the 25th and 85th percentile in the table above, then the TSR Percentage payout will be interpolated between the corresponding TSR Percentage payout set forth above. In addition to the foregoing payments, and regardless of the Company’s Relative TSR Performance, the following may be earned: (i) an additional payment of 25% of the TSR Percentage will be made if the Company’s Price-Earnings Ratio (as defined in Section 4(c) below) is at or above the 50th percentile and below the top third of the group of companies (inclusive of the Company) used to measure Relative TSR Performance in accordance with Section 4(b), or (ii) an additional payment of 50% of the TSR Percentage will be made if the Company’s Price-Earnings Ratio is at or above the top third of the group of companies (inclusive of the Company) used to measure Relative TSR Performance in accordance with Section 4(b) (the “Performance Adder”). The Committee may reduce or eliminate payment of the Performance Adder in its sole discretion. The overall percentage payment under the entire Award may not exceed 200% of the Target Amount.
Appears in 1 contract
Sources: Goal Based Stock Award Agreement (Virginia Electric & Power Co)