Visa 2011 Annual Report Download - page 182
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achieved exceeds the Earnings Per Share in the schedule above for the lower such Performance Level and the denominator of which is the difference between
Earnings Per Share amounts in the schedule above for the greater and lower of such Performance Levels. The Percentage of Performance Shares Earned with
respect to Earnings Per Share for the Performance Cycle shall be determined based on the average Base Percentage of Performance Shares Earned over the
three years of the Performance Cycle and shall never exceed 200%.
Performance Level TSR Rank
Adjustment
Multiplier
Threshold 0 - 25% 75%
Target 50% 100%
Maximum 75% and above 125%
If the Performance Level for TSR Rank falls between Threshold and Target, or between Target and Maximum, then the Adjustment Multiplier shall be the
sum of the Adjustment Multiplier in the schedule above for the lower such Performance Level plus the product of (i) the difference between the Adjustment
Multiplier in the schedule above for the greater and lower such Performance Levels and (ii) a fraction, the numerator of which is the amount by which the
TSR Rank achieved exceeds the TSR Rank in the schedule above for the lower such Performance Level and the denominator of which is the difference
between TSR Ranks in the schedule above for the greater and lower of such Performance Levels. The Adjustment Multiplier for the TSR Rank shall never
exceed 125%. The product of the Base Percentage Performance Shares Earned and the Adjustment Multiplier shall be limited to a maximum of 200% and is
then multiplied by the grant amount to determine the number of Performance Shares earned.
(iv) Notification. As soon as practicable following the end of the Performance Cycle, the Participant shall be notified in
writing of the number of Performance Shares earned.
(b) Vesting. Subject to Sections 4 and 5 of this Agreement, all of the Performance Shares that are earned pursuant to Section 3(a)
shall become vested on November 30, 2014.
(c) Separate Payments. For purposes of this Award and Agreement, each amount to be paid hereunder shall be construed as a
separate identified payment for purposes of Section 409A of the Code.
4. Separation from Service.
(a) In General. Except as otherwise provided in this Section 4 or in Section 5 of this Agreement or in the Plan, all Performance
Shares subject to this Award that have not become vested pursuant to Section 3(b) prior to the date of the Participant's Separation from Service shall be
immediately forfeited upon such Separation from Service.
Visa Confidential 3