Hypothetical Example. For the purpose of the avoidance of any confusion, by way of hypothetical example only: if an executive shall terminate employment during the twenty-fourth (24th) month of a thirty-six (36) month performance-based incentive program for the permitted reasons specified in Section 2.2.3 above and is otherwise entitled to participate in the performance-based incentive program, and if the performance-based incentives are achieved and certified by the Company in full satisfaction of the incentive targets, the executive shall receive (81.94%) pro-rata vesting of the applicable awards and Stock Grants at the designated time. The formula: % of the number of complete months of employment (23 ÷ 36 = 63.88%) + 100% = 163.88% ÷ 2 = 81.94% pro-rata award.
Appears in 5 contracts
Samples: Employment Agreement (Stewart Information Services Corp), Employment Agreement (Stewart Information Services Corp), Employment Agreement (Stewart Information Services Corp)
