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General Procedures
General Procedures contract clause examples

Procedures. To the extent necessary to comply with the performance-based compensation provisions of Code [Section 162(m)], with respect to any Award granted subject to Performance Goals, within the first twenty-five percent (25%) of the Performance Period, but in no event more than ninety (90) days following the commencement of any Performance Period (or such other time as may be required or permitted by Code [Section 162(m)]), the Administrator will, in writing, # designate one or more Participants to whom an Award will be made, # select the Performance Goals applicable to the Performance Period, # establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such Performance Period, and # specify the relationship between Performance Goals and the amounts of such Awards, as applicable, to be earned by each Participant for such Performance Period. Following the completion of each Performance Period, the Administrator will certify in writing whether the applicable Performance Goals have been achieved for such Performance Period. In determining the amounts earned by a Participant, the Administrator will have the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Administrator may deem relevant to the assessment of individual or corporate performance for the Performance Period. A Participant will be eligible to receive payment pursuant to an Award for a Performance Period only if the Performance Goals for such period are achieved.

NETGEAR, INC. (NTGR) (CIK 0001122904)
Source: SEC EDGAR database • Date: June 2, 2020 • SIC: 3661 • CIK: 3661

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