Additional Terms of the Option. (a) In relation to the Time-Based Option to purchase or subscribe for up to [●] Ordinary Shares: [●] (b) In relation to the Performance-Based Option to purchase or subscribe for up to [●] Ordinary Shares: [●] (c) Subject in all cases to the Participant’s active Employment, once the Committee has, in its absolute discretion, (i) determined that the vesting conditions as set out in this Agreement have been met or (ii) waived the vesting conditions in respect of some or all of the Options, the Committee will notify the Participant of the number of Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Option vests in the Participant, and no Option will vest until the Option Vesting Notice has been issued. For the purposes of this Section 5, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its effective date.
Appears in 2 contracts
Samples: Business Combination Agreement (PropertyGuru Group LTD), Business Combination Agreement (Bridgetown 2 Holdings LTD)
Additional Terms of the Option. (a) In relation to the Time-Based Option to purchase or subscribe for up to [●] ]Ordinary Shares: [●]
(b) In relation to the Performance-Based Option to purchase or subscribe for up to [●] ]Ordinary Shares: [●]
(c) Subject in all cases to the Participant’s active Employment, once the Committee has, in its absolute discretion, (i) determined that the vesting conditions as set out in this Agreement have been met or (ii) waived the vesting conditions in respect of some or all of the Options, the Committee will notify the Participant of the number of Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Option vests in the Participant, and no Option will vest until the Option Vesting Notice has been issued. For the purposes of this Section 5, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its effective date.
Appears in 2 contracts
Samples: Business Combination Agreement (PropertyGuru Group LTD), Business Combination Agreement (Bridgetown 2 Holdings LTD)
Additional Terms of the Option. (a) In relation to the Time-Based Option to purchase or subscribe for up to [●] Ordinary •]Ordinary Shares: [●]:
(b) In relation to the Performance-Based Option to purchase or subscribe for up to [●] Ordinary •]Ordinary Shares: [●]:
(c) Subject in all cases to the Participant’s active Employment, once the Committee has, in its absolute discretion, (i) determined that the vesting conditions as set out in this Agreement have been met or (ii) waived the vesting conditions in respect of some or all of the Options, the Committee will notify the Participant of the number of Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Option vests in the Participant, and no Option will vest until the Option Vesting Notice has been issued. For the purposes of this Section 5, a Participant shall be deemed to have ceased to be so actively Employed as of the date the notice of termination of Employment is tendered by or is given to him or her, unless such notice shall be withdrawn prior to its effective date.
Appears in 1 contract
Samples: Business Combination Agreement (PropertyGuru Group LTD)
Additional Terms of the Option. (a) In relation to the Time-Based Option to purchase or subscribe for up to [●] ]Ordinary Shares: [●]
(b) In relation to the Performance-Based Option to purchase or subscribe for up to [●] ]Ordinary Shares: [●]
(c) Subject in all cases to the Participant’s active EmploymentAppointment, once the Committee has, in its absolute discretion, (i) determined that the vesting conditions as set out in this Agreement have been met or (ii) waived the vesting conditions in respect of some or all of the Options, the Committee will notify the Participant of the number of Options that have vested via the issue of a vesting notice (the “Option Vesting Notice”). The date of the Option Vesting Notice will be the date the Option vests in the Participant, and no Option will vest until the Option Vesting Notice has been issued. For the purposes of this Section 5, a Participant shall be deemed to have ceased to be so actively Employed Appointed as of the date the notice of termination of Employment is tendered by he or is given she ceases to him or her, unless such notice shall be withdrawn prior to its effective datea XXX.
Appears in 1 contract
Samples: Business Combination Agreement (Bridgetown 2 Holdings LTD)