ABC Corp. issued Performance Awards that vest dependent on Total Shareholder Return ("TSR") relative to a Peer Group at the end of a 3 year Performance Period with the following schedule:
| Relative TSR | Payout as a Percent of Target |
|---|---|
| 75th percentile and above | 200% |
| 50th percentile | 100% |
| 25th percentile | 50% |
| Below 25th percentile | 0% |
Interpolation shall be used between the above thresholds. The peer group consists of those companies that comprised the S&P 500 on the grant date. The performance period consists of the 20 trading days preceding the grant date through the 20 trading days preceding the third anniversary of the grant date.