Common use of Accelerated Measurement Dates Clause in Contracts

Accelerated Measurement Dates. Notwithstanding the foregoing provisions, if: (i) For any consecutive four fiscal quarters of the Company, beginning with the fiscal quarter ending on June 30, 2015 and ending with the fiscal quarter ending on December 31, 2016, the average closing price of the Company’s ordinary shares is equal to or exceeds the share price which corresponds to the Target share price, then the Grantee’s Stock Units which shall be deemed to have satisfied the Performance Criteria at the end of the Measurement Period, subject to the termination provisions contained herein, shall be equal to 25% of the Target Stock Units; and (ii) On June 1, 2017, the Adjusted Share Price is equal to or exceeds the share price which corresponds to the Target share price, then the Grantee’s Stock Units which shall be deemed to have satisfied the Performance Condition at the end of the Measurement Period, subject to the termination provisions contained herein, shall be equal to the sum of (x) the Stock Units calculated under (i), above, and (y) 25% of the Stock Units which would be deemed to have satisfied the performance criteria as Computed per this Agreement and Exhibit A (collectively, the “Minimum Measurement”).

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement, Restricted Stock Unit Agreement (Actavis PLC), Employee Stock Unit Agreement (Actavis PLC)

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Accelerated Measurement Dates. Notwithstanding the foregoing provisions, ifif on: (i) For any consecutive four fiscal quarters of the CompanyMarch 1, beginning with the fiscal quarter ending on June 30, 2015 and ending with the fiscal quarter ending on December 31, 20162017, the average closing price of the Company’s ordinary shares Adjusted Share Price is equal to or exceeds the share price which corresponds to the Target share price, then the Grantee’s Stock Units which shall be deemed to have satisfied the Performance Criteria at the end of the Measurement Period, subject to the termination provisions contained herein, shall be equal to 25% of the Target Stock UnitsUnits which would be deemed to have satisfied the performance criteria as computed per this Agreement and Exhibit A; and (ii) On June 1, 2017, the Adjusted Share Price is equal to or exceeds the share price which corresponds to the Target share price, then the Grantee’s Stock Units which shall be deemed to have satisfied the Performance Condition at the end of the Measurement Period, subject to the termination provisions contained herein, shall be equal to the sum of (x) the Stock Units calculated under (i), above, and (y) 25% of the Stock Units which would be deemed to have satisfied the performance criteria as Computed per this Agreement and Exhibit A (collectively, the “Minimum Measurement”).

Appears in 1 contract

Samples: Employee Stock Unit Agreement (Actavis PLC)

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