Avnet 2014 Annual Report Download - page 107

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Average stock price at end of period – average stock price at start of period + dividends
Average stock price at start of period
A company’s average stock price at the start of the relevant period shall equal its 30-
trading day average immediately
before and including the start day, and a company’
s average stock price at the end of the relevant period shall equal its
30-trading day average immediately before and including the end day of the applicable period.
Performance Goals
. The number of PSUs that become vested under this award (subject to satisfying the service conditions)
shall equal the sum of (i) the Annual Relative EP portion, plus (ii) the Relative TSR portion, each as described below.
Total Earned EP Percentage = Fiscal 20__ Earned EP Percentage x 1/3 +
Fiscal 20__ Earned EP Percentage x 1/3 +
Fiscal 20__ Earned EP Percentage x 1/3
• “Total Shareholder Return” means, for each company in the Technology Index, the percentage calculated using the
following formula:
(i)
Annual Relative EP Portion . The Annual Relative EP portion equals one-
third of the annual Earned EP Percentage
(described below) for each fiscal year, multiplied by the Target Number of Shares set forth in the Term Sheet,
multiplied by 50%. The calculation includes the following elements:
•
The annual Earned EP Percentage for each year shall be a percentage ranging from 0% to 200%, according to
the following matrix:
Annual Relative EP -10% -5% 0% +5% +10%
Annual Earned EP Percentage 0% 50% 100% 150% 200%
•
If Avnet’
s Annual Relative EP for a year is between two achievement levels set forth in the table above, the
annual Earned EP Percentage for the fiscal year shall be determined by linear interpolation.
•
The Participant’s total Earned EP Percentage will be one-
third of the annual Earned EP Percentages for each fiscal
year, as follows:
•
The Participant’s Annual Relative EP portion equals the Participant’
s total Earned EP Percentage times the Target
Number of Shares times 50%.
(ii)
Relative TSR Portion . The Relative TSR Portion equals the Earned TSR Percentage (described below) for the three-
year Performance Period, multiplied by the Target Number of Shares set forth in the Term Sheet, multiplied by
50%. The Earned TSR Percentage shall be a percentage ranging from 0% to 200%, according to the following
matrix: