First Tranche Amount Sample Clauses

First Tranche Amount. The “First Tranche Amount” consisting of _____________ shares and representing _______ of the Performance Vesting Restricted Stock shall vest on ____________ (i) pursuant to the satisfaction of the applicable performance based metric of Free Cash Flow, as set forth in the ______ Long-Term Incentive Plan Guidelines or (ii) pursuant to the satisfaction of such other applicable performance criteria and schedule determined by the Board of Directors of the Company (the “Board”) or the Compensation Committee of the Company’s Board of Directors (“Compensation Committee”);

First Tranche Amount. The “First Tranche Amount” consisting of 4,400 shares and representing one-third of the Performance Vesting Restricted Stock shall vest on March 17, 2007, (i) with (x) 50% of the First Tranche Amount vesting pursuant to the satisfaction of the applicable performance based metric of net cash provided by operating activities less maintenance and capital expenditures of Covanta as set forth in the 2006 Long-Term Incentive Plan Guidelines and (y) 50% of the First Tranche Amount vesting pursuant to the satisfaction of the applicable performance based metrics of adjusted earnings before interest, taxes, depreciation and amortization of Covanta as set forth in the 2006 Long-Term Incentive Plan Guidelines or (ii) pursuant to the satisfaction of such other applicable performance criteria and schedule determined by the Board or the Compensation Committee;