Bonus formula metrics for level 80 employees are based on the employee’s role and will be comprised of either 100% overall company performance with a personal performance modifier (see note below) or be based on 40% overall company performance and 60% Business Area performance with a personal performance modifier (see note below).
Payout for Individual Performance Goals. The payout for the completion of individual performance goals is determined by the percentage of your goals that you complete satisfactorily in . Just as for financial goals, the formula for payout on individual performance goals is —
* For points between each performance level, the vesting modifier will be interpolated.
The Participant’s Individual Performance Modifier shall be established by the O&C Committee or the Executive Team, as applicable, in its sole discretion within the range of plus fifty percent (+50%) and minus fifty percent (-50%), or such other range as may be determined by the O&C Committee or the Executive Team, as applicable.
An annual performance-based incentive compensation payment for calendar year 2022 pursuant to the 2022 annual incentive compensation plan as in effect as of the date hereof, calculated by multiplying your 2022 annual incentive target by the 2022 corporate performance rating applicable to all senior executive officers of the Company as such 2022 corporate performance rating is approved by the Committee on February 16, 2023, without any individual performance modifier, and paid to you at the same time that 2022 annual incentive award payouts are made to other senior executive officers of the Company.
Each Participant’s Award for a Plan Year will be determined after the end of each Plan Year by multiplying the Participant’s Target Award by the Final Funding Percentage; and multiplying such amount by the applicable Individual Performance Modifier determined in accordance with [Article VI].B. below. The O&C Committee shall determine each Award for Executive Officers and Additional Persons and the Executive Team shall determine each Award for other Participants.
Each Participant shall submit goals to NWL Human Resources for the 2022 calendar year no later than . Human Resources will submit a roll-up of each Participant’s goals to the President for review and approval.
Application. The provisions of this Section 20 apply to Participants who are employed by an Affiliate located outside the United States and are subject to the laws of a jurisdiction outside of the United States as of the date of termination of the Participant's employment, provided, however, that to the extent the Participant is party to an employment or other agreement with any Affiliate containing non-competition, non-solicitation, confidentiality, business ideas or similar restrictions (the “local restrictive covenants”), whether or not such local restrictive covenants have been agreed to before or after execution of this Award Agreement, those local restrictive covenants and related enforcement provisions shall govern and the following provisions of this Section 20 shall not apply, unless otherwise determined by the Corporation in its sole discretion. Notwithstanding the foregoing, sub-section # below shall apply in any case.
Application. Notwithstanding anything to the contrary contained in this Agreement, # Cash Collateral provided under any of this Section 2.14 or Sections 2.03, 2.04, 2.05, 2.15 or 9.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied in satisfaction of the specific L/C Obligations, Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may be provided herein and # Cash Collateral provided by the Canadian Borrower shall be applied only to the Canadian Obligations.
the number of Final Performance Shares shall be determined as set forth in paragraph 1(a)(iii) above, provided that if the Measurement Date of such Going Private Transaction occurs prior to the completion of any Performance Year(s), the Part B modifier applicable for such Performance Year(s) shall be deemed to be 1.0;
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