exhibit104.htm


    EXHIBIT
10.4

    


    


    ST. MARY LAND &
EXPLORATION COMPANY

    


    PERFORMANCE SHARE AWARD
AGREEMENT

    


    


    This
Performance Share Award Agreement (the “Agreement”) is made effective as
of         [Award Date]1 (the
“Award Date”) by and between St. Mary Land & Exploration Company, a Delaware
corporation (the “Company”), and the undersigned person (the “Participant”) to
whom performance shares have been awarded pursuant to the Company’s long term
incentive program (“LTIP”) under the St. Mary Land & Exploration Company
2006 Equity Incentive Compensation Plan, as amended (the “Plan”).

     

    Pursuant
to the terms of the Plan and this Agreement, as of the Award Date the Company
has made an award (the “Award”) to the Participant of [Amount] performance
shares (the “Performance Shares”) upon the terms and conditions set forth
below.  The performance period for the Performance Shares shall be the
three-year period set forth in the Performance Share Award Notice attached
hereto (the “Performance Period”).  Capitalized terms used but not
defined in this Agreement shall have the meanings given to them in the
Plan.

     

    1. Performance
Shares.  The Performance Shares represent the right to receive,
upon the settlement of the Award pursuant to Section 4 hereof after the
completion of the Performance Period, a number of shares (the “Shares”) of the
Company’s common stock, $.01 par value per share (the “Common Stock”), that will
be calculated as set forth in Section 2 below based on the extent to which the
Company’s Performance Criteria (as defined in Section 2) have been achieved and
the extent to which the Performance Shares have vested.  Such actual
number of Shares that may be issued upon settlement of the Award may be from
zero (0) to two (2.0) times the number of Performance Shares granted on the
Award Date.  The number of Performance Shares set forth herein may be
referred to as the “target” number of Shares.

     

    2. Determination of Number of
Shares Earned.

     

    (a) Performance
Criteria.  The actual number of Shares that may be earned under
the Award and issued upon settlement of the Award after completion of the
Performance Period shall be based upon the Company’s achievement of performance
criteria (the “Performance Criteria”) established by the Compensation Committee
of the Board of Directors of the Company (the “Committee”) for the Performance
Period in accordance with the terms of the Plan and as set forth below and
reflected in the payout matrix (the “Payout Matrix”) attached as Appendix A hereto and
discussed further in subsection (d) hereof.  The Performance Criteria
for the calculation of the actual number of Shares to be issued upon settlement
of the Award as reflected in the Payout Matrix are based on a combination of (i)
the absolute measure of the cumulative total shareholder return (“TSR”) and
associated Compound Annual Growth Rate (“CAGR”) of the 

    1  Items in brackets
are features that may vary among individual awards.

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    Company
for the Performance Period, and (ii) the relative measure of the Company’s TSR
and CAGR for the Performance Period compared with the cumulative TSR and CAGR of
the Peer Companies (as defined below) for the Performance Period as reflected in
the St. Mary Performance Share Plan Peer Group Custom Index (the “Custom Index”)
to be specifically prepared by Standard & Poor’s, a division of The
McGraw-Hill Companies, Inc. (“S&P”), for the purpose of administering the
LTIP.

     

    (b) Calculation of TSR and
CAGR.  The TSR and CAGR of the Company and the Peer Companies
for the Performance Period shall be calculated in accordance with the
methodology utilized by S&P with respect to the Custom Index.

     

    (c) Peer Companies and Custom
Index.  The “Peer Companies” to be reflected in the Custom
Index shall consist of the constituents of the Oil & Gas Exploration &
Production GIC Sub-Industry Group in the S&P SmallCap 600 Index and the
S&P MidCap 400 Index, excluding the Company.  The Custom Index
will be equal weighted, and will be adjusted to include the dividend payments of
the constituents of the Custom Index.  The Custom Index will be
rebalanced on a quarterly basis, and will also be rebalanced whenever there are
additions and deletions to the S&P SmallCap 600 and the S&P MidCap 400
indices.  The Custom Index is the exclusive property of
S&P.  The Company has contracted with S&P to maintain and
calculate the Custom Index.  S&P shall have no liability for any
errors or omissions in calculating the Custom Index.

     

    (d) Payout
Matrix.  The Payout Matrix attached as Appendix A hereto sets
forth the possible multipliers, which range from zero percent (0%) to two
hundred percent (200%), which may be applied to the number of vested Performance
Shares to determine the actual number of Shares to be issued under this Award
upon settlement of the Award after the completion of the Performance
Period.  The final multiplier (the “Final Multiplier”) shall be
determined by the Committee after the completion of the Performance Period based
on the two variables that comprise the Performance Criteria, related to (i) the
Company’s TSR and CAGR for the Performance Period, and (ii) the Peer Companies’
TSR and CAGR for the Performance Period as reflected in the Custom
Index.  The number of Shares, if any, that shall be issued to the
Participant upon settlement of this Award shall be calculated as the number of
Performance Shares that have vested in accordance with Section 3 or Section 6
hereof, multiplied by the Final Multiplier, as determined by the Committee in
accordance with the Payout Matrix.  There shall be no rounding of
variables or extrapolation of variables between data points within the Payout
Matrix, and the data point for which the associated variables equal or exceed
the target variables for such data point, but do not result in qualification for
another higher data point, shall be utilized with respect to the Final
Multiplier.  Any fractional Shares which would otherwise result from
application of the Final Multiplier shall be rounded up to the nearest whole
share of Common Stock.

     

    3. Vesting of Performance
Shares.

     

    2

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    (a) Vesting.  Subject
to the provisions contained herein, the Performance Shares shall vest over the
Performance Period as set forth in the vesting schedule contained in the
attached Performance Share Award Notice (the “Vesting Schedule”).  As
of the Award Date, the Participant is an employee of the Company or a subsidiary
thereof.  If the Participant ceases to be an employee of the Company
or a subsidiary thereof prior to the vesting of all of the Performance Shares
pursuant to the Vesting Schedule, the Participant shall forfeit the remaining
unvested Performance Shares under the Award, except as otherwise provided in
this Section 3 and Section 6.

     

    (b) Continued Vesting Upon Early
Retirement.  The Performance Shares shall, notwithstanding any
other provisions of this Section 3, continue to vest according to the Vesting
Schedule after the termination of the Participant’s employment with the Company
or a subsidiary thereof if (i) such termination is the result of the
Participant’s retirement from the Company or a subsidiary thereof upon the
Participant’s having both reached the age of sixty (60) and completed twelve
(12) years of service with the Company or a subsidiary thereof, and (ii) the
Participant does not after such early retirement become employed on a full-time
basis by a competitor of the Company prior to the earlier of the settlement of
this Award or the Participant’s reaching the age of sixty-five
(65).  Any such continued vesting of the Performance Shares pursuant
to this Section 3(b) will not result in an acceleration of the Settlement Date
(as defined below), since the number of Shares earned under this Award shall be
calculated after the completion of the Performance Period.

     

    (c) Acceleration Upon Death,
Total Disability or Normal Retirement.  The Performance Shares
shall become fully vested, notwithstanding any other provisions of this Section
3, upon termination of the Participant’s employment with the Company or a
subsidiary thereof because of death, total disability or retirement upon
reaching the Company’s normal retirement age of sixty-five (65).  Any
such acceleration of the vesting of the Performance Shares pursuant to this
Section 3(c) will not result in an acceleration of the Settlement Date (as
defined below), since the number of Shares earned under this Award shall be
calculated after the completion of the Performance Period.  For
purposes of this Agreement, a “total disability” shall mean a medically
determinable physical or mental impairment that can be expected to result in
death or can be expected to last for a continuous period of not less than 12
months, by reason of which the Participant is unable to engage in any
substantial gainful activity or is receiving income replacement benefits for a
period of not less than three months under an accident and health plan covering
employees of the Company.

     

    (d) Termination for
Cause.  Notwithstanding any other provisions of this Section 3,
the Participant shall forfeit all Performance Shares under this Award upon the
termination of the employment of the Participant by the Company or a subsidiary
thereof for Cause (as defined below) prior to the completion of the Performance
Period.

     

    4. Settlement of Performance
Shares.  Following the last day of the Performance Period and
prior to the Settlement Date (as defined below), the Committee shall determine,
and 

     

    3

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    certify
in writing to the extent deemed necessary or advisable or as required to comply
with Section 162(m) of the Internal Revenue Code of 1986, as amended (the
“Code”), (i) the
extent to which the Performance Criteria have been achieved over the Performance
Period, and (ii) the Final Multiplier.  The Final Multiplier shall
then be applied to the number of vested Performance Shares to determine the
number of Shares (the “Earned Shares”), if any, to be issued to the Participant
in settlement of the Award.  The determination of the Earned Shares by
the Committee shall be binding on the Participant and conclusive for all
purposes.  The Earned Shares, if any, shall be issued to the
Participant in settlement of the Award on or about the settlement date set forth
in the attached Performance Share Award Notice (the “Settlement
Date”).  Upon the settlement of the Award, the Company shall deliver
to the Participant evidence of book-entry Shares or a certificate for the number
of Shares issued to the Participant in settlement of the Award.  The
Earned Shares shall not be subject to any holding or transfer restrictions after
settlement of the Award.

     

    5. Transfer Restrictions for
Unsettled Performance Shares.  Performance Shares that have not
been settled shall not be transferable by the Participant, and the Participant
shall not be permitted to sell, transfer, pledge, assign or otherwise alienate
or encumber such Performance Shares or the Shares issuable in settlement
thereof, other than (i) to the person or persons to whom the Participant’s
rights under such Performance Shares pass by will or the laws of descent and
distribution, (ii) to the spouse or the descendants of the Participant or to
trusts for such persons to whom or which the Participant may transfer such
Performance Shares by gift, (iii) to the legal representative of any of the
foregoing, or (iv) pursuant to a qualified domestic relations order as defined
under Section 414(p) of the Code or similar order or agreement relating to the
provision of child support, alimony payments or marital property rights to a
spouse, former spouse, child or other dependent of the
Participant.  Any such transfer shall be made only in compliance with
the Securities Act of 1933 and the requirements therefor as set forth by the
Company.  Any attempted transfer in contravention of the foregoing
provisions shall be null and void and of no effect.

     

    6. Change of Control
Termination.

     

    (a) Vesting upon Change of
Control Termination.  Notwithstanding any other provision of
this Agreement, the Performance Shares shall become fully vested upon the
termination of the Participant’s employment with the Company or a subsidiary
thereof in the event that (i) a Change of Control (as defined in the Plan) of
the Company occurs, and (ii) the Participant’s employment with the Company or a
subsidiary thereof is subsequently terminated without Cause (as defined below)
or the Participant terminates his or her employment with the Company or a
subsidiary thereof for Good Reason (as defined below), and such termination of
employment occurs within 30 months of the Change of Control and prior to the
normal completion of vesting of the Performance Shares at the end of the
Performance Period (a “Change of Control Termination”).  The normal
vesting and settlement provisions of this Agreement shall not be affected by the
immediately foregoing sentence if a Change of Control of the Company occurs but
there is not also a Change of Control Termination with respect to the
Participant’s employment with the Company or a subsidiary thereof.  If
the Participant has entered into a separate written Change of Control Executive
Severance Agreement or Change of Control Severance Agreement (with either to be
subsequently referred to herein as a “Change of Control Severance Agreement”)
with the Company, the terms “Cause” and “Good Reason” used herein shall have the
meanings set forth in such Change of Control Severance Agreement.  If
the Participant has not entered into a separate 

     

    4

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    written
Change of Control Severance Agreement, the terms “Cause” and “Good Reason” used
herein shall have the meanings set forth in the St. Mary Land & Exploration
Company Change of Control Severance Plan (the “Change of Control Severance
Plan”).

     

    (b) Settlement upon Change of
Control Termination.  Notwithstanding any other provisions of
this Agreement to the contrary, in the event of a Change of Control Termination
with respect to the Participant’s employment with the Company or a subsidiary
thereof as set forth in Section 6(a) above, the vested Performance Shares shall
be settled in accordance with this Section 6(b).  In the event of a
Change of Control Termination, the Committee shall determine the extent to which
the Performance Criteria have been achieved and the Final Multiplier to apply to
the vested Performance Shares by utilizing the same method as set forth in
Section 2 hereof; provided, however, that the Performance Period for the
calculation of the TSR and CAGR of the Company and the Peer Companies to obtain
the Final Multiplier shall be shortened to end as of the effective date of the
Change of Control.  The Final Multiplier shall then be applied to the
number of vested Performance Shares to calculate the number of Earned Shares, if
any, that the Participant is entitled to in settlement of the
Award.  In the event of a Change of Control Termination, any Earned
Shares shall be paid to the Participant in settlement of the Award either in
Shares or in cash of equivalent value, as determined by the Committee or other
duly authorized administrator of the Plan, in its discretion, within thirty (30)
days following the effective date of the Change of Control
Termination.

     

    (c) Controlling Documents for
Change of Control Termination.  To the extent that the
Participant is subject to either a written Change of Control Severance Agreement
or the Change of Control Severance Plan, the terms and conditions of such Change
of Control Severance Agreement or Change of Control Severance Plan, as
applicable, shall also apply to this Award in the event of a Change of Control
Termination; provided, however, that with respect to the Performance Shares
under this Award, the terms of the Plan and this Agreement shall control in the
event of any inconsistency between their terms and the terms of the Change of
Control Severance Agreement or the Change of Control Severance
Plan.

     

    7. Adjustments Upon Changes in Capitalization.  In
the event that a stock split, stock dividend or other similar change in
capitalization of the Company occurs, the number and kind of Shares that may be
issued under this Agreement and that have not yet been issued shall be
proportionately and appropriately adjusted.

     

    8. No Dividend Equivalents or
Stockholder Rights Until Actual Shares Issued.  The Performance
Shares shall not be credited with Dividend Equivalents.  In addition,
the Participant shall have no voting, transfer, liquidation or other rights of a
holder of Shares with respect to the 

     

    5

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    Performance
Shares until such time as Shares, if any, have been issued by the Company to the
Participant in settlement of this Award.  Until this Award is settled
or terminated, the Performance Shares will represent only bookkeeping entries by
the Company to evidence unfunded and unsecured obligations of the
Company.

     

    9. Notices.  Any
notice relating to this Agreement shall be in writing and delivered in person or
by mail, fax or email transmission to the address or addresses on file with the
Company.  Any notice to the Company shall be addressed to it at its
principal office, and be specifically directed to the attention of the
Secretary.  Anyone to whom a notice may be given under this Agreement
may designate a new address by notice to that effect.

     

    10. Benefits of Agreement.  This
Agreement shall inure to the benefit of and be binding upon each successor of
the Company and the Participant’s heirs, legal representatives and permitted
transferees.  This Agreement and the Plan shall be the sole and
exclusive source of any and all rights which the Participant and the
Participant’s heirs, legal representatives and permitted transferees may have
with respect to this Award, the Performance Shares and the Plan.

     

    11. Resolution of Disputes.  Any
dispute or disagreement which arises under, or is a result of, or in any way
relates to, the interpretation, construction or applicability of this Agreement
shall be resolved as determined by the Committee, or the Board of Directors of
the Company (the “Board”), or by any other committee appointed by the Board for
such purpose.  Any determination made hereunder shall be final,
binding and conclusive for all purposes.

     

    12. Controlling
Documents.  The provisions of the Plan are hereby incorporated
into this Agreement by reference.  In the event of any inconsistency
between this Agreement and the Plan, the Plan shall control.  The
provisions of the attached Performance Share Award Notice are also hereby
incorporated into this Agreement by reference.  In the event of any
inconsistency between this Agreement and the Performance Share Award Notice,
this Agreement shall control.

     

    13. Amendments.  This
Agreement may be amended only by a written instrument executed by both the
Company and the Participant.

     

    14. No Right of Participant to
Continued Employment.  Nothing contained in this Agreement
shall confer on the Participant any right to continue to be employed by the
Company or any subsidiary thereof, or shall limit the Company’s right to
terminate the employment of the Participant at any time; provided, however, that
nothing contained in this Agreement shall affect any separate contractual
provisions that exist between the Participant and the Company or its
subsidiaries with respect to the employment of the Participant.

     

    15. Vesting Dates and Settlement
Date.  In the event that any vesting date in the Vesting
Schedule, the Settlement Date, or any other measurement date with respect to
this Award, does not fall on a normal business day, such date shall be deemed to
occur on the next following normal business day.

     

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    16. Tax
Withholding.  The Company may make such provisions and take
such steps as it deems necessary or appropriate for the withholding of any taxes
that the Company is required by law or regulation of any governmental authority,
whether Federal, state or local, to withhold in connection with the Performance
Shares subject to this Agreement.  The Participant shall elect, prior
to any tax withholding event related to this Award, whether the Participant will
satisfy all or part of such tax withholding requirement by paying the taxes in
cash or by having the Company withhold shares of Common Stock having a fair
market value equal to the minimum statutory withholding that may be imposed on
the transaction (based on minimum statutory withholding rates for Federal, state
and local tax purposes, as applicable, that are applicable to such
transaction).  The Participant’s election shall be irrevocable, made
in writing, signed by the Participant, and shall be subject to any restrictions
or limitations that the Committee, in its sole discretion, deems
appropriate.

     

    17. Compliance with Section 409A
of the Code.  Notwithstanding any provision in this Agreement
to the contrary, to the extent that this Agreement constitutes a nonqualified
deferred compensation plan or arrangement to which Section 409A of the Code
applies, the administration of this Award (including the time and manner of
payments under the Award and this Agreement) shall comply with Section 409A of
the Code.

     

    18. Personal
Data.  The Participant hereby consents to the collection, use
and transfer, in electronic or other form, of the Participant’s personal data as
described in this Agreement by and among, as applicable, the Company and its
affiliates for the exclusive purpose of implementing, administering and managing
the Participant’s participation in the Plan.  The Company holds, or
may receive from any agent designated by the Company, certain personal
information about the Participant, including, but not limited to, the
Participant’s name, home address and telephone number, date of birth, social
security insurance number or other identification number, salary, nationality,
job title, any shares of Common Stock held, details of this Award or any other
rights to shares of Common Stock awarded, canceled, exercised, vested, unvested
or outstanding in the Participant’s favor, for the purpose of implementing,
administering and managing the Plan, including complying with applicable tax and
securities laws (the “Personal Data”).  The Personal Data may be
transferred to any third parties assisting in the implementation, administration
and management of the Plan.  The Participant authorizes such
recipients of the Personal Data to receive, possess, use, retain and transfer
the Personal Data, in electronic or other form, for the purposes described
above.  The Participant may, at any time, view the Personal Data,
request additional information about the storage and processing of the Personal
Data, require any necessary amendments to the Personal Data, or refuse or
withdraw the consents herein, in any case without cost, by contacting the
Secretary of the Company in writing.  Any such refusal or withdrawal
of the consents herein may affect the Participant’s ability to participate in
the Plan

     

    19. Electronic Delivery of
Documents.  The Company may, in its sole discretion, deliver
any documents related to this Award, or any future awards that may be granted
under the Plan, by electronic means, or request the Participant’s consent to
participate in the Plan or other authorizations from the Participant in
connection therewith by electronic means.  The Participant hereby
consents to receive such documents by electronic delivery and, if requested, to
participate 

     

    7

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    in the
Plan through an on-line or electronic system established and maintained by the
Company or another third party designated by the Company.

     

    20. Execution and
Counterparts.  This Agreement may be executed in counterparts
and signature pages may be delivered by email or fax
transmission.  Execution of a written instrument for this Agreement
may be evidenced by any appropriate form of electronic signature or affirmative
email or other electronic response attached to or logically associated with such
written instrument, which is executed or adopted by a party with an indication
of the intention by such party to execute or adopt such instrument for purposes
of execution thereof.

     

    *     *     *     *     *

     

    [Signature
page follows]

     

    8

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Company and the Participant have caused this Performance
Share Award Agreement to be entered into effective as of the Award
Date.

     

    COMPANY:

    


    ST. MARY
LAND & EXPLORATION COMPANY,

     

    a
Delaware corporation

     

    


     

    By:  _______________________________________

     

    Printed
Name:  ______________________________

     

    Title:  _____________________________________

     

    Date
Signed:  _______________________________

     

    


     

    PARTICIPANT:

     

    


     

    Signature:
__________________________________

     

    Printed
Name:  ______________________________

     

    Date
Signed:  _______________________________

     

    


     

    


     

    


     

    Attachment:  Performance
Share Award Notice

     

    9

     

    
      
         

      

      
         

        
        

      

      
         

      

    

    


    APPENDIX
A

    


    PAYOUT MATRIX FOR
PERFORMANCE SHARES

     

     A-1 

     

    
      
         

      

      
         

        
        

      

      
         

      

    

     

     

    
      
        	
                PAYOUT
      MATRIX - 2008

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                [Payout
      Matrix is subject to change for Awards granted in subsequent
      years]

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Simple
      Matrix - Add result in Column A and Column B

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                TOTAL
      CANNOT BE GREATER THAN 2.0 OR LESS THAN ZERO

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
                Column
      A

              	 	 	 	
                Column
      B

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Absolute
      St. Mary TSR

              	 	 
      St.
      Mary TSR vs Peer Index	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                Ann. TSR

              	 	
                EARNED MULTIPLIER

              	 	
                % Point Deviation From
Peers

              	 	 
                      
                MULTIPLIER

                MODIFIER

              	
              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	0%	 	-	 	-10%	 	(0.50	)	 
      TABULAR
      EXPRESSION OF PAYOUT MATRIX	 
	1%	 	0.050	 	-8%	 	(0.40	)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2%	 	0.100	 	-6%	 	(0.30	)	 	 	 	 	 	 	 	 	 	
                Percentage
      Point Deviation From Peer Index

              	 	 	 
	3%	 	0.150	 	-4%	 	(0.20	)	 	 	-10%	 	-8%	 	-6%	 	-4%	 	-2%	 	0%	 	2%	 	4%	 	6%	 	8%	 
	4%	 	0.200	 	-2%	 	-	 	0	 	 	 	 	 	 	 	 	 	0	 	0.2	 	0.3	 	0.4	 	0.5	 	0.6	 
	5%	 	0.275	 	
                =
      Index TSR

              	 	0.20	 	1	 	 	 	 	 	 	 	 	 	0.05	 	0.25	 	0.35	 	0.45	 	0.55	 	0.65	 
	6%	 	0.350	 	+2%	 	0.30	 	2	 	 	 	 	 	 	 	 	 	0.1	 	0.3	 	0.4	 	0.5	 	0.6	 	0.7	 
	7%	 	0.425	 	+4%	 	0.40	 	3	 	 	 	 	 	 	 	 	 	0.15	 	0.35	 	0.45	 	0.55	 	0.65	 	0.75	 
	8%	 	0.500	 	+6%	 	0.50	 	4	 	 	 	 	 	 	 	0	 	0.2	 	0.4	 	0.5	 	0.6	 	0.7	 	0.8	 
	9%	 	0.575	 	+8%	 	0.60	 	5	 	 	 	 	 	0	 	0.075	 	0.275	 	0.475	 	0.575	 	0.675	 	0.775	 	0.875	 
	10%	 	0.650	 	 	 	 	 	6	 	 	 	0	 	0.05	 	0.15	 	0.35	 	0.55	 	0.65	 	0.75	 	0.85	 	0.95	 
	11%	 	0.725	 	 	 	 	 	7	 	0	 	0.025	 	0.125	 	0.225	 	0.425	 	0.625	 	0.725	 	0.825	 	0.925	 	1.025	 
	12%	 	0.800	 	 	 	 	 	8	 	0	 	0.1	 	0.2	 	0.3	 	0.5	 	0.7	 	0.8	 	0.9	 	1	 	1.1	 
	13%	 	0.875	 	 	 	 	 	9	 	0.075	 	0.175	 	0.275	 	0.375	 	0.575	 	0.775	 	0.875	 	0.975	 	1.075	 	1.175	 
	14%	 	0.950	 	 	 	 	 	10	 	0.15	 	0.25	 	0.35	 	0.45	 	0.65	 	0.85	 	0.95	 	1.05	 	1.15	 	1.25	 
	15%	 	1.025	 	 	 	      
                St.
      Mary 

              	 	11	 	0.225	 	0.325	 	0.425	 	0.525	 	0.725	 	0.925	 	1.025	 	1.125	 	1.225	 	1.325	 
	16%	 	1.100	 	 	 	      
                TSR
      (%) 

              	 	12	 	0.3	 	0.4	 	0.5	 	0.6	 	0.8	 	1	 	1.1	 	1.2	 	1.3	 	1.4	 
	17%	 	1.200	 	 	 	 	 	13	 	0.375	 	0.475	 	0.575	 	0.675	 	0.875	 	1.075	 	1.175	 	1.275	 	1.375	 	1.475	 
	18%	 	1.300	 	 	 	 	 	14	 	0.45	 	0.55	 	0.65	 	0.75	 	0.95	 	1.15	 	1.25	 	1.35	 	1.45	 	1.55	 
	19%	 	1.400	 	 	 	 	 	15	 	0.525	 	0.625	 	0.725	 	0.825	 	1.025	 	1.225	 	1.325	 	1.425	 	1.525	 	1.625	 
	20%	 	1.500	 	 	 	 	 	16	 	0.6	 	0.7	 	0.8	 	0.9	 	1.1	 	1.3	 	1.4	 	1.5	 	1.6	 	1.7	 
	21%	 	1.600	 	 	 	 	 	17	 	0.7	 	0.8	 	0.9	 	1	 	1.2	 	1.4	 	1.5	 	1.6	 	1.7	 	1.8	 
	22%	 	1.700	 	 	 	 	 	18	 	0.8	 	0.9	 	1	 	1.1	 	1.3	 	1.5	 	1.6	 	1.7	 	1.8	 	1.9	 
	23%	 	1.800	 	 	 	 	 	19	 	0.9	 	1	 	1.1	 	1.2	 	1.4	 	1.6	 	1.7	 	1.8	 	1.9	 	2	 
	24%	 	1.900	 	 	 	 	 	20	 	1	 	1.1	 	1.2	 	1.3	 	1.5	 	1.7	 	1.8	 	1.9	 	2	 	 	 
	25%	 	2.000	 	 	 	 	 	21	 	1.1	 	1.2	 	1.3	 	1.4	 	1.6	 	1.8	 	1.9	 	2	 	 	 	 	 
	 	 	 	 	 	 	 	 	22	 	1.2	 	1.3	 	1.4	 	1.5	 	1.7	 	1.9	 	2	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	23	 	1.3	 	1.4	 	1.5	 	1.6	 	1.8	 	2	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	24	 	1.4	 	1.5	 	1.6	 	1.7	 	1.9	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	25	 	1.5	 	1.6	 	1.7	 	1.8	 	2	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	
                RED=
      MINIMUMS

              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	
                BLUE
      = MAXIMUMS