Operating Income Vesting Shares Sample Clauses

Operating Income Vesting Shares. [X Shares (25%)]5 of the RSUs (“Operating Income Vesting Shares”) shall vest based on the following: (A) On the first anniversary of the Grant Date (such date, the “Operating Income Date”) the Company’s operating income as set forth in the Company’s audited financial statements (the “Income”) shall be compared to the Company’s operating income goal as established by the Compensation Committee of the Board of Directors for 2014 (the “Goal”) and a percent shall be calculated by dividing the Goal over the Income (the “Operating Income Percentile”). For the avoidance of doubt, “Income” shall mean the Company’s customary definition of Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization. 5 This number is 25% of the Target Number of Shares. (B) If the Operating Income Percentile is less than 80%, then the percent of Operating Income Vesting Shares that shall vest on the third anniversary of the Grant Date (such date, the “Operating Income Determination Date”) shall be equal to zero (0)%. (C) if the Operating Income Percentile is greater than 125%, then the percent of Operating Income Vesting Shares that shall vest on the Operating Income Determination Date shall be equal to 200%. (D) If the Operating Income Percentile is greater than or equal to 80% but less than or equal to 125%, then the percent of Operating Income Vesting Shares that shall vest on the Operating Income Determination Date shall be equal to the following: Operating Income Percentile Percent of Vested Operating Income Shares 80% 50.00 % 81% 52.50 % 82% 55.00 % 83% 57.50 % 84% 60.00 % 85% 62.50 % 86% 65.00 % 87% 67.50 % 88% 70.00 % 89% 72.50 % 90% 75.00 % 91% 77.50 % 92% 80.00 % 93% 82.50 % 94% 85.00 % 95% 87.50 % 96% 90.00 % 97% 92.50 % 98% 95.00 % 99% 97.50 % 100% 100.00 % 101% 103.34 % 102% 106.66 % 103% 110.00 % 104% 113.33 % 105% 116.67 % 106% 120.00 % 107% 123.33 % 108% 126.67 % 109% 130.00 % 110% 133.33 % 111% 136.67 % 112% 140.00 % 113% 143.33 % 114% 146.67 % 115% 150.00 % 116% 154.55 % 117% 159.09 % 118% 163.64 % 119% 168.18 % 120% 172.73 % 121% 177.27 % 122% 181.82 % 123% 186.36 % 124% 125% 190.91 195.45 % % (E) In the event that the Participant incurs a Termination (other than if the Participant Retires) prior to the Operating Income Determination Date, the Operating Income Vesting Shares shall be immediately forfeited. Any Operating Income Vesting Shares that do not vest in accordance with this Section shall be forfeited as of the Operating Income Determination Date ...
Sample 1
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Operating Income Vesting Shares. Subject to the provisions of Section 4(e), within thirty (30) days following the Operating Income Determination Date provided in Section 3(a)(3), the Participant shall receive the number of shares of Common Stock that correspond to the number of Operating Income Vesting Shares that have become vested prior to such time in accordance with Section 3(a)(3). 6 To be used only for participants who have not previously executed a Covenants Agreement.
Sample 1

Related to Operating Income Vesting Shares

  • Performance Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Time Vesting Subject to Sections 5(b) and 6 below, the RSUs will vest and become nonforfeitable in accordance with and subject to the time vesting schedule set forth on Exhibit A attached hereto, subject to the Participant’s continued status as a Service Provider through each applicable vesting date.

  • Equity Vesting All of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, all performance goals and other vesting criteria will be deemed achieved at the greater of actual performance or 100% of target levels. Unless otherwise required under the next following two sentences or, with respect to awards subject to Section 409A of the Code, under Section 5(b) below, any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination. For the avoidance of doubt, if the Executive’s Qualified Termination occurs prior to a Change in Control, then any unvested portion of the Executive’s then-outstanding equity awards will remain outstanding for 3 months or the occurrence of a Change in Control (whichever is earlier) so that any additional benefits due on a CIC Qualified Termination can be provided if a Change in Control occurs within 3 months following the Qualified Termination (provided that in no event will the Executive’s stock options or similar equity awards remain outstanding beyond the equity award’s maximum term to expiration). In such case, if no Change in Control occurs within 3 months following a Qualified Termination, any unvested portion of the Executive’s equity awards automatically will be forfeited permanently on the 3-month anniversary of the Qualified Termination without having vested.

  • Stock Vesting Unless otherwise approved by the Board of Directors, all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants and other service providers shall be subject to vesting as follows: (a) twenty-five percent (25%) of such stock shall vest at the end of the first year following the earlier of the date of issuance or such person’s services commencement date with the Company, and (b) seventy-five percent (75%) of such stock shall vest over the remaining three (3) years.

  • Stock Splits, Stock Dividends, etc In the event of any issuance of Shares of the Company’s voting securities hereafter to any of the Stockholders (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or the like), such Shares shall become subject to this Agreement and shall be notated with the legend set forth in Subsection 7.12.

  • Option Vesting Options shall vest as follows: -------------- (a) 100% of the Options shall vest on the 1st anniversary of the Grant Date; (b) In the event of any change in control, merger or consolidation between the Company and any other entity (other than one in which the stockholders of the Company prior to such transaction receive, in exchange for their Company shares, stock of the surviving corporation and such stock constitutes more than 50% of the outstanding stock of the surviving corporation following such transaction), or any sale by the Company of all or substantially all of its assets, all Options then held by the Director that have not theretofore vested shall vest five days prior to the earlier of (i) the record date, if any, for such transaction and (ii) the closing date of such transaction, both subject to Section 4(a).

  • Regular Vesting Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first anniversary of the Date of Grant.

  • Treatment of Stock Dividends, Stock Splits, etc In case the Company at any time or from time to time after the date hereof shall declare or pay any dividend on the Common Stock payable in Common Stock, or shall effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), then, and in each such case, Additional Shares of Common Stock shall be deemed to have been issued (a) in the case of any such dividend, immediately after the close of business on the record date for the determination of holders of any class of securities entitled to receive such dividend, or (b) in the case of any such subdivision, at the close of business on the day immediately prior to the day upon which such corporate action becomes effective.

  • Vesting Date All remaining shares of Restricted Stock will become vested on the Vesting Date.

  • Normal Vesting Subject to the Plan and this Agreement, if the Participant has been in Continuous Employment through the Vesting Date as set forth in Section 1, then the RSUs subject to such Vesting Date will become nonforfeitable (“Vest” or similar terms).

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