Attainment of Earnings CGR. No portion of the Option shall become exercisable on an Anniversary Date unless the Earnings CGR for the Calculation Year applicable to that Anniversary Date equals or exceeds five percent (5%). If such Earnings CGR equals or exceeds five percent (5%), the portion of the Anniversary Date Option Amount that shall become exercisable on such Anniversary Date shall be determined pursuant to the provisions of Section 3.3 of the Agreement.
Appears in 3 contracts
Samples: Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp)
Attainment of Earnings CGR. No portion of the Option shall -------------------------------------- become exercisable on an Anniversary Date unless the Earnings CGR for the Calculation Year applicable to that Anniversary Date equals or exceeds five percent (5%). If such Earnings CGR equals or exceeds five percent (5%), the portion of the Anniversary Date Option Amount that shall become exercisable on such Anniversary Date shall be determined pursuant to the provisions of Section 3.3 of the this Agreement.
Appears in 2 contracts
Samples: Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp)
Attainment of Earnings CGR. No portion of the Option shall become exercisable on an Anniversary Date unless the Earnings CGR for the Calculation Year applicable to that Anniversary Date equals or exceeds five percent (5%). If such Earnings CGR equals or exceeds five percent (5%), the portion of the Anniversary Date Option Amount that shall become exercisable on such Anniversary Date shall be determined pursuant to the provisions of Section 3.3 of the Agreement.. Section 3.3
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