BVPS Growth. The number of BVPS Restricted Stock Units that shall vest, if any, on the Determination Date, shall be determined as follows: 3 Year BVPS Growth Increase Applicable Percentage 3 Year BVPS Growth Increase Threshold [●]% 25% 3 Year BVPS Growth Increase Target [●]% 50% 3 Year BVPS Growth Increase Maximum [●]% 100% The BVPS Restricted Stock Units that vest for the Performance Period will equal the product of Applicable Percentage determined above (based on the BVPS Growth Increase) and the BVPS Restricted Stock Units. The Applicable Percentage will be interpolated on a linear basis between each (i) the BVPS Growth Increase Threshold and BVPS Growth Increase Target, and (ii) the BVPS Growth Increase Target and BVPS Growth Increase Maximum. Any fractional BVPS Restricted Stock Units, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no BVPS Restricted Stock Units shall vest if the BVPS Growth Increase is less than [●]% and in no event shall the Applicable Percentage be greater than one hundred percent (100%). For purposes of this Agreement:
Appears in 2 contracts
Sources: Stock Award Agreement (Greenlight Capital Re, Ltd.), Stock Award Agreement (Greenlight Capital Re, Ltd.)
BVPS Growth. The number of BVPS Restricted Stock Units Shares that shall vestvest and that Grantee shall be entitled to receive, if any, on the Determination Date, shall be determined as follows: 3 Year BVPS Growth Increase Applicable Percentage 3 Year BVPS Growth Increase Threshold [●]% 25% 3 Year BVPS Growth Increase Target [●]% 50% 3 Year BVPS Growth Increase Maximum [●]% 100% The BVPS Restricted Stock Units Shares that vest for the Performance Period will equal the product of Applicable Percentage determined above (based on the BVPS Growth Increase) and the BVPS Restricted Stock UnitsShares. The Applicable Percentage will be interpolated on a linear basis between each (i) the BVPS Growth Increase Threshold and BVPS Growth Increase Target, and (ii) the BVPS Growth Increase Target and BVPS Growth Increase Maximum. Any fractional BVPS Restricted Stock UnitsShares, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no BVPS Restricted Stock Units Shares shall vest if the BVPS Growth Increase is less than [●]% and in no event shall the Applicable Percentage be greater than one hundred percent (100%). For purposes of this Agreement:
Appears in 1 contract
Sources: Restricted Stock Award Agreement (Greenlight Capital Re, Ltd.)
BVPS Growth. The number of BVPS Restricted Stock Units that shall vestvest on the Performance Vesting Date and that Participant shall be entitled to have settled for Shares, if any, on the Determination Settlement Date, shall be determined as follows: 3 Year BVPS Growth Increase Applicable Percentage 3 Year BVPS Growth Increase Threshold [●]% 2512.5%] 50% 3 Year BVPS Growth Increase Target [●]% 5022.5%] 100% 3 Year BVPS Growth Increase Maximum [●]% 10040.5%] 200% The BVPS Restricted Stock Units that vest for the Performance Period will equal the product of (x) the Applicable Percentage determined above (based on the BVPS Growth Increase) and (y) the BVPS Restricted Stock Units. The Applicable Percentage will be interpolated on a linear basis between each (i) the BVPS Growth Increase Threshold and BVPS Growth Increase Target, and (ii) the BVPS Growth Increase Target and BVPS Growth Increase Maximum. Any fractional BVPS Restricted Stock Units, if any, shall be rounded to the nearest whole number. For the avoidance of doubt, no BVPS Restricted Stock Units shall vest if the BVPS Growth Increase is less than [●]12.5] % and in no event shall the Applicable Percentage be greater than one hundred percent (100200%). For purposes of this Agreement:
Appears in 1 contract
Sources: Restricted Stock Unit Award Agreement (Greenlight Capital Re, Ltd.)