Define: Performance Targets

How is Performance Targets defined in a legal contract?

• Performance Targets means specific objectives or goals set in a timely fashion by [organization] for each participant for a certain period, relative to one or more business criteria. Seen in 442 SEC filings
• Performance Targets means the specific objectives, goals, or targets established by [committee] in relation to any award, according to one or more performance criteria. These targets must be met in order for a payment to be made in respect to that award. Seen in 74 SEC filings
• Performance Targets means the specific objectives or goals that are promptly set in writing by [organization[, applicable to each participant] for the relevant period, relative to any one or more performance measures. Seen in 27 SEC filings
• Performance Targets means the specific objectives or goals related to the performance targets established by [committee] to decide on any rewards based on one or more performance criteria, which must be fulfilled in order for payment to be made in regard to such an award. Seen in 17 SEC filings
• Performance Targets means specific performance goals and the corresponding amounts of bonus that are established by [organization] prior to the start of the calendar year to which such performance targets pertain. Seen in 10 SEC filings
• Performance Targets means selected key performance indicators. Seen in 13 SEC filings

Please note that the definitions are likely to be context-dependent and might be defined differently in other instances or jurisdictions. Always consult with a legal professional when interpreting contractual definitions.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of performance targets' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Performance Targets means specific goals set by an [organization], tied to business criteria, that dictate payment of awards.

Relevant Contract Types

• Employment Contracts
• Sales Representative Agreement
• Consultancy Agreements
• Vendor Contracts
• Incentive Compensation Plans

Relevant Circumstances

• Recruitment of new employees
• Sales team performance evaluation
• Negotiation of vendor supply terms
• Establishment of incentive programs

Relevant Sectors

• Human Resources
• Sales
• Consulting
• Retail

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Genie Definition 2

• Performance Targets means key performance indicators selected by an [organization] to measure success.

Relevant Contract Types

• Management Contracts
• Service Level Agreements
• Consultancy Agreements
• Performance Contracts

Relevant Circumstances

• Outsourcing of business functions
• Consultancy service provision
• Defining performance criteria for contracts

Relevant Sectors

• Consulting
• IT Services
• Management
• Supply Chain

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