Performance Objectives. At the time of grant of a Performance Share Award, the Committee will specify the performance objectives which, depending on the extent to which they are met, will determine the number of Shares that will be distributed to the participant. The Committee will also specify the time period or periods (the “Performance Period”) during which the performance objectives must be met. With respect to awards intended to be “performance based compensation,” the Committee may use performance objectives based on one or more financial criteria or other objective performance measures as the Committee may determine to be appropriate, including, but not limited to, one or more of the following: earnings per share, total revenue, net interest income, non-interest income, net income, net income before tax, non-interest expense, efficiency ratio, return on equity, return on assets, economic profit added, loans, deposits, tangible equity, assets, net charge-offs, new market growth, product line developments, and nonperforming assets. The Committee may designate a single goal criterion or multiple goal criteria for performance measurement purposes. Performance measurement may be described in terms of objectives that are related to the performance by the Company, by any Subsidiary, or by any employee or group of employees in connection with services performed by that employee or those employees for the Company, a Subsidiary, or one or more subunits of the Company or of any Subsidiary. The performance objectives may be made relative to the performance of other companies. The performance objectives and periods need not be the same for each participant or for each Award.
Performance Objectives. AtPERFORMANCE OBJECTIVE - The performance objective or objectives established by the time of grant ofCompensation Committee for each Plan Period, which must be reached as a Performance Share Award, the Committee will specify the performance objectives which, depending on the extent to which they are met, will determine the number of Shares that will be distributedcondition to the participant.earning and payment of an Incentive Award for that Plan Period. The Committee will also specify the time periodPerformance Objective shall be comprised of specified corporate, business group or periods (the “Performance Period”) during which thedivisional levels of performance objectives must be met. With respectrelating to awards intended to be “performance based compensation,” the Committee may use performance objectives based on one or more financial criteria or other objective performance measures as the Committee may determine to be appropriate, including, but not limited to, one or more of the following:following performance criteria: earnings per share, total revenue,share; net interest income, non-interest income,earnings or net income,income; pretax earnings; profit before taxes; operating income; net income before tax, non-interest expense, efficiency ratio,sales or net revenues; net sales or net revenues from existing businesses; net sales or net revenues from acquired businesses, market share; balance sheet measurements; cash flow; cash return on equity,assets; return on assets, economic profit added, loans, deposits, tangible equity, assets, net charge-offs, new market growth, product line developments, and nonperforming assets. Thecapital; book value; shareholder return, or return on average common equity; or such other measurements as the Compensation Committee may designate a single goal criterion or multiple goal criteria forestablish, including individual performance measurement purposes. Performance measurement may be described in terms of objectives that are related to the performance by the Company, by any Subsidiary, or by any employee or group of employees in connection with services performed by that employee or those employees for the Company, a Subsidiary, or one or more subunits of the Company or of any Subsidiary. The performance objectives may be made relative to the performance of other companies. The performance objectives and periods need not be the same for each participant or for each Award.goals.
Section # Performance Objectives. At the time of grant of a Performance Share Award, theObjectives and Other Terms. The Committee will specify theshall set performance objectives in its sole discretion which, depending on the extent to which they are met, will determine the number or value of SharesPerformance Units or Performance Shares, or both, that will be distributedpaid to the participant. The Committee will alsoParticipant. Each Award of Performance Units or Performance Shares shall be evidenced by an Award Agreement that shall specify the time periodnumber of Performance Units or periods (the “Performance Period”) during whichPerformance Shares, the Performance Period, the performance objectives must be met. With respect to awards intended to be “performance based compensation,” the Committee may use performance objectives based on one or more financial criteria orobjectives, and such other objective performance measuresterms and conditions as the Committee may determine to be appropriate, including, but not limited to, one or more of the following: earnings per share, total revenue, net interest income, non-interest income, net income, net income before tax, non-interest expense, efficiency ratio, return on equity, return on assets, economic profit added, loans, deposits, tangible equity, assets, net charge-offs, new market growth, product line developments, and nonperforming assets. The Committee may designate a single goal criterion or multiple goal criteria for performance measurement purposes. Performance measurement may be describedCommittee, in terms of objectives that are related to the performance by the Company, by any Subsidiary, or by any employee or group of employees in connection with services performed by that employee or those employees for the Company, a Subsidiary, or one or more subunits of the Company or of any Subsidiary. The performance objectives may be made relative to the performance of other companies. The performance objectives and periods need not be the same for each participant or for each Award.its sole discretion, shall determine.
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