Notice of Sale of ISO Shares. The Grantee agrees that, upon any sale or other transfer of shares of Common Stock purchased pursuant to the Option within either one (1) year of the date that they are acquired by the Grantee or two (2) years after the Award Date set forth above, the Grantee shall promptly provide to the Corporation written notice of such sale or other transfer. EXHIBIT A PERFORMANCE-ACCELERATED VESTING Subject to early termination of the Option under Section 4 of the Terms, the Option shall immediately become vested as to the percentage of the total number of shares of Common Stock subject to the Option set forth on the table below (the “Vesting Percentage”) at the end of any period of ten (10) consecutive trading days on which the Common Stock is actively listed or traded on a national securities exchange or on the New York Stock Exchange Reporting System and the closing or last price, as applicable, for a share of the Common Stock (“Stock Price”) on each of such trading days equals or exceeds the applicable threshold amount set forth below (the “Stock Price Threshold”). For avoidance of doubt, the Option may vest only once with respect to any Stock Price Threshold so that, for example, if the Stock Price equals or exceeds the 25% Stock Price Threshold below for ten (10) consecutive trading days and 25% of the shares subject to the Option vest accordingly, no additional shares subject to the Option shall vest if the Stock Price declines below the 25% Stock Price Threshold and subsequently increases above the 25% Stock Price Threshold. Furthermore, the Vesting Percentages do not cumulate so that, for example, if the Stock Price equals or exceeds the 25% Stock Price Threshold for ten (10) consecutive trading days and 25% of the shares subject to the Option vest accordingly, an additional 25% of the shares subject to the Option (not an additional 50% of such shares) shall vest if the Stock Price subsequently equals or exceeds the 50% Stock Price Threshold for ten (10) consecutive trading days. Vesting Percentage Stock Price Threshold 25% $ 62.50 50% $ 70.00 75% $ 77.50 100% $ 85.00
Appears in 6 contracts
Samples: Option Agreement (New Century Financial Corp), Option Agreement (New Century Financial Corp), Option Agreement (New Century Financial Corp)
