2013 FleetOne Integration Long-Term Incentive Program

EX-10.27 3 wex20141231ex1027.htm EXHIBIT 10.27 WEX 2014.12.31 EX 10.27
Exhibit 10.27


2013 FleetOne Integration Long-Term Incentive Program

Award Date:
March 15, 2013

Unit Allocation Ratio:
100% Performance Based Restricted Stock Units

Vesting Schedule:
50% of the award vests on March 15, 2014 based on achievement of the 2013 performance metrics listed below and 50% of the award vests on March 15, 2015 based on the achievement of the 2014 performance metrics.

2013 Performance-Based Restricted Stock Unit Calculations:
The number of PSUs vesting under this 2013 FleetOne Integration Grant Program is based on the following:
 
Payout %(1)(5)
EBITDA (40%) (2)
PPG Adj Revenue Adj
(30%)(3)
SYNERGIES
(30%)(4)
 
 
Perf Level(3)
$(,000)
Perf Level(3)
$(,000)
Perf Level(3)
$(,000)
Threshold
25%
85.0%
$
23,630

85.0%
$
54,700

80.0%
$
2,400

Target
100%
100.0%
$
27,800

100.0%
$
64,400

100.0%
$
3,000

Max
200%
120.0%
$
33,460

120.0%
$
77,300

200.0%
$
6,000



2014 Performance-Based Restricted Stock Unit Calculations:
 
Payout %(1)(5)
EBITDA (40%) (2)
PPG Adj Revenue
(30%)
SYNERGIES
(30%)(4)
 
 
Perf Level(3)
$(,000)
Perf Level(3)
$(,000)
Perf Level(3)
$(,000)
Threshold
25%
85.0%
$
28,900

85.0%
$
63,750

80.0%
$
2,400

Target
100%
100.0%
$
34,000

100.0%
$
75,000

100.0%
$
3,000

Max
200%
120.0%
$
40,800

120.0%
$
90,000

200.0%
$
6,000


(1) 
Threshold EBITA performance must be achieved for any PSUs to vest. 
(2) 
Adjusted EBITDA is defined as 2013 Deal Model EBITDA of $27.8M adjusted by synergy savings, synergy costs,and integration costs, totaling ($3.8M) for 2013 
(3) 
PPG Adjusted Revenue Full-Year is reported 2013 Revenue for the Americas adjusted for the difference between reported 2013PPG and Board-approved budgeted 2013 PPG of $3.50 US. 
(4) 
Synergy target for 2014 based on Deal Model and represents net synergy savings that are $3.0M incremental to 2013 
(5) 
Shares granted are ratable between payout levels. 



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