Absolute Shareholder Return Modifier Sample Clauses

Absolute Shareholder Return Modifier. (I) Notwithstanding Section 2(ii)(c) above, if the Company’s Absolute Shareholder Return (as defined in the OPP Program) for the entire Performance Period is not a positive number, then the Earned LTIP Unit Equivalent shall not be determined unless the Company’s Absolute Shareholder Return on a cumulative basis since the beginning of the Performance Period becomes positive within seven (7) years following the end of the Performance Period. For purposes of the preceding sentence, the Company’s Absolute Shareholder Return shall be measured at the end of each quarter, beginning with the first quarter following the end of the Performance Period, and it shall be measured from the beginning of the Performance Period through the end of such quarter. (II) The Grantee’s employment with the Company or a Related Company need not continue past the Valuation Date with respect to the Performance Period for determination of the Earned LTIP Unit Equivalent to be determined pursuant to this Section 2(ii). (III) If the Absolute Shareholder Return becomes positive within the seven (7) year period following the Performance Period, then as soon as reasonably practicable, but no later than seventy-five (75) days after the end of the quarter when the Absolute Shareholder Return became positive, the Earned LTIP Unit Equivalent shall be determined in the same manner as provided in Section 2(ii)(c) above, except that the dollar value of the Award as originally determined pursuant to Section 2(ii)(b) shall be divided by the Fair Market Value of a share of Common Stock (as defined in the OPP Program) as of the last day of the quarter when the Absolute Shareholder Return became positive, rather than as of the earlier date provided in Section 2(ii)(c). The term “Earned LTIP Unit Equivalent” refers to the number of Award LTIP Units calculated pursuant to Section 2(ii)(c) or this Section 2(ii)(d)(III), as the case may be.
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Related to Absolute Shareholder Return Modifier

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