Performance Restriction Sample Clauses

Performance Restriction. The Performance Restriction shall be satisfied based on three separate Performance Periods, as provided in the table below. Each “Performance Period” shall be a designated calendar year and, taken together, the three Performance Periods make up a three-year period known as the “Measurement Period”, which starts on January 1, 2021 and ends on December 31, 2023. In order for the Units scheduled to vest during a Performance Period to satisfy the Performance Restriction, the Committee must determine that the Company has achieved 6.75% or greater Pre-Tax Margin (defined below) in at least two calendar quarters during such Performance Period. This determination shall occur during the ninety (90) day period following the end of each Performance Period. Performance Period % of Restricted Stock Units January 1, 2021 to December 31, 2021 33.33% January 1, 2022 to December 31, 2022 33.33% January 1, 2023 to December 31, 2023 33.34% For purposes of this Agreement, the following definitions shall apply:
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Performance Restriction. In order for the Units to vest, the Committee must determine that the Company has achieved 5% or greater Pre-Tax Margin (defined below) in at least three calendar quarters of any of the next seven calendar quarters starting April 1, 2023 (the “Performance Restriction”). The seven calendar quarters beginning April 1, 2023, and ending December 31, 2024 are defined as the (“Measurement Period”). This determination shall occur during the ninety (90) day period following the end of the Measurement Period. For purposes of this Agreement, the following definitions shall apply:
Sample 1
Performance Restriction. In order for the Restricted Stock to vest, the Compensation Committee of the Board of Directors of the Company (the “Committee”) must determine that [the Company has achieved [•] (the “Performance Restriction”). The [•] calendar quarters starting [•] and ending [•] are referred to as the “Measurement Period.” “
Sample 1

Related to Performance Restriction

  • Basic Restrictions (i) (1) No Person, other than an Excepted Holder, shall Beneficially Own or Constructively Own Shares in excess of the Aggregate Ownership Limit, (2) no Person, other than an Excepted Holder, shall Beneficially Own or Constructively Own Common Shares in excess of the Common Share Ownership Limit and (3) no Excepted Holder shall Beneficially Own or Constructively Own Shares in excess of the Excepted Holder Limit for such Excepted Holder.

  • Use Restriction (a) If a natural disaster, incident or any other emergency situation occurs or is likely to occur, SORACOM may restrict the use of the SORACOM Air Global Service by the Subscriber in order to give priority to communications whose content are necessary for the prevention of or relief from calamities, for the securing of transportation, communications or electric power supply, the maintenance of public order or any other public interest.

  • Lapse of Restrictions If, for any reason, Shares are issued to the Employee within six months of the Grant Date, the Employee agrees that he or she will not sell or otherwise dispose of any such Shares prior to the six-month anniversary of the Grant Date.

  • General Restriction A Member may not Dispose of all or any portion of its Membership Interest except by complying with all of the following requirements:

  • Issuance Restrictions If the Company has not obtained Shareholder Approval, then the Company may not issue upon exercise of this Warrant a number of shares of Common Stock, which, when aggregated with any shares of Common Stock issued (i) pursuant to the conversion of any Notes issued pursuant to the Purchase Agreement, (ii) upon prior exercise of this or any other Warrant issued pursuant to the Purchase Agreement and (iii) pursuant to any warrants issued to any registered broker-dealer as a fee in connection with the issuance of Securities pursuant to the Purchase Agreement, would exceed 4,855,108 shares of Common Stock, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of the Purchase Agreement (such number of shares, the “Issuable Maximum”). The Holder and the holders of the other Warrants issued pursuant to the Purchase Agreement shall be entitled to a portion of the Issuable Maximum equal to the quotient obtained by dividing (x) the Holder’s original Subscription Amount by (y) the aggregate original Subscription Amount of all holders pursuant to the Purchase Agreement. In addition, the Holder may allocate its pro-rata portion of the Issuable Maximum among Warrants held by it in its sole discretion. Such portion shall be adjusted upward ratably in the event a Purchaser no longer holds any Warrants and the amount of shares issued to such Purchaser pursuant to its Warrants was less than such Purchaser’s pro-rata share of the Issuable Maximum. For avoidance of doubt, unless and until any required Shareholder Approval is obtained and effective, warrants issued to any registered broker-dealer as a fee in connection with the Securities issued pursuant to the Purchase Agreement as described in clause (iii) above shall provide that such warrants shall not be allocated any portion of the Issuable Maximum and shall be unexercisable unless and until such Shareholder Approval is obtained and effective.

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