; or (II) $150,000,000; and (ii) allocate the amount reserved under clause (i) to each improved institution in an amount equal to the greater of the following: (I) The amount that bears the same proportion to the amount reserved under clause (i) as the total amount of all Federal Pell Grant funds awarded at the improved institution for the second preceding fiscal year bears to the total amount of Federal Pell Grant funds awarded at improved institutions participating under this part for the second preceding fiscal year. (II) $5,000. (B) Improved institution described For purposes of this paragraph, an improved institution is an institution that, on the date the Secretary makes an allocation under subparagraph (A)(ii)— (i) is an institution of higher education (as defined under section 101); (ii) meets the requirements of subsection (d)(5); and (iii) is with respect to— (I) the completion rate or graduation rate of Federal Pell Grant recipients at the institution, in the top 75 percent of all institutions participating under this part for the preceding fiscal year; (II) the percentage of Federal Pell Grant recipients at the institution, in the top 50 percent of the institutions described in subclause (I)