Common use of Operational Excellence Vesting Schedule Clause in Contracts

Operational Excellence Vesting Schedule. shares of Class B Common Stock covered by this Option (the “Operational Excellence Option Shares”) shall vest on March 31, 2006 based on the number of points achieved at the end of the 2006 fiscal year based on the Fiscal Year 2006 Operational Excellence Goals (as described in Exhibit B to this Agreement) in accordance with the following schedule: Percentage of Additional Points Achieved Restricted Stock Units Vested 100 100 % 94 90 % 88 80 % 82 70 % 76 60 % 70 50 % 64 40 % 58 30 % 52 20 % 46 10 % 40 0 % The determination of the number of points achieved shall be made and approved by the Committee. The Committee shall have the sole authority to determine the number of points achieved for purposes of this schedule, and its determination shall be final, conclusive and binding on all parties. The exact vesting percentage attained from the schedule shall be calculated based on straight-line interpolation between the percentages shown in the schedule with fractional percentages rounded to the nearest tenth of one percent. At the end of the Vesting Period, if any Operational Excellence Option Shares remain unvested, such Operational Excellence Option Shares shall be forfeited. The Optionee must be in continuous employment with the Company or any of its Affiliates or serve as a Director from the Award Date through the Vesting Date in order for the Operational Excellence Option Shares to vest as provided in this Section 2(b).

Appears in 1 contract

Samples: Option Agreement (Eagle Materials Inc)

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Operational Excellence Vesting Schedule. shares of Class B Common Stock covered by this Option (the “Operational Excellence Option Shares”) shall vest on March 31, 2006 based on the number of points achieved at the end of the Fiscal Year 2006 fiscal year based on the Fiscal Year 2006 Operational Excellence Goals (as described in Exhibit B to this Agreement) in accordance with the following schedule: Percentage of Additional Operational Points Achieved Restricted Stock Units Excellence Option Shares Vested 100 100 % 94 90 % 88 80 % 82 70 % 76 60 % 70 50 % 64 40 % 58 30 % 52 20 % 46 10 % 40 0 % The determination of the number of points achieved shall be made and approved by the Committee. The Committee shall have the sole authority to determine the number of points achieved for purposes of this schedule, and its determination shall be final, conclusive and binding on all parties. The exact vesting percentage attained from the schedule shall be calculated based on straight-line interpolation between the percentages shown in the schedule with fractional percentages rounded to the nearest tenth of one percent. At the end of the Vesting Period, if any Operational Excellence Option Shares remain unvested, such Operational Excellence Option Shares shall be forfeited. The Optionee must be in continuous employment with the Company or any of its Affiliates or serve as a Director from the Award Date through the Vesting Date in order for the Operational Excellence Option Shares to vest as provided in this Section 2(b).

Appears in 1 contract

Samples: Option Agreement (Eagle Materials Inc)

Operational Excellence Vesting Schedule. shares Restricted Stock Units of Class B Common Stock covered by this Option the Award (the “Operational Excellence Option SharesRSUs”) shall vest on March 31, 2006 the Vesting Date based on the number of points achieved at the end of the 2006 fiscal year based on the Fiscal Year 2006 Operational Excellence Goals (as described in Exhibit B to this Agreement) in accordance with the following schedule: Points Percentage of Additional Points Achieved Restricted Stock Units Vested 100 100 % 94 90 % 88 80 % 82 70 % 76 60 % 70 50 % 64 40 % 58 30 % 52 20 % 46 10 % 40 0 % The determination of the number of points achieved shall be made and approved by the Committee. The Committee shall have the sole authority to determine the number of points achieved for purposes of this schedule, and its determination shall be final, conclusive and binding on all parties. The exact vesting percentage attained from the schedule shall be calculated based on straight-line interpolation between the percentages shown in the schedule with fractional percentages rounded to the nearest tenth of one percent. At the end of the Vesting Period, if any Operational Excellence Option Shares RSUs remain unvested, such Operational Excellence Option Shares RSUs shall be forfeited. The Optionee Grantee must be in continuous employment with the Company or any of its Affiliates or serve as a Director from the Award Date through the Vesting Date in order for the Operational Excellence Option Shares RSUs to vest as provided in this Section 2(b).

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Eagle Materials Inc)

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Operational Excellence Vesting Schedule. shares Restricted Stock Units of Class B Common Stock covered by this Option the Award (the “Operational Excellence Option SharesRSUs”) shall vest on March 31, 2006 the Vesting Date based on the number of points achieved at the end of the Fiscal Year 2006 fiscal year based on the Fiscal Year 2006 Operational Excellence Goals (as described in Exhibit B to this Agreement) in accordance with the following schedule: Points Percentage of Additional Points Operational Achieved Restricted Stock Units Excellence RSUs Vested 100 100 % 94 90 % 88 80 % 82 70 % 76 60 % 70 50 % 64 40 % 58 30 % 52 20 % 46 10 % 40 0 % The determination of the number of points achieved shall be made and approved by the Committee. The Committee shall have the sole authority to determine the number of points achieved for purposes of this schedule, and its determination shall be final, conclusive and binding on all parties. The exact vesting percentage attained from the schedule shall be calculated based on straight-line interpolation between the percentages shown in the schedule with fractional percentages rounded to the nearest tenth of one percent. At the end of the Vesting Period, if any Operational Excellence Option Shares RSUs remain unvested, such Operational Excellence Option Shares RSUs shall be forfeited. The Optionee Grantee must be in continuous employment with the Company or any of its Affiliates or serve as a Director from the Award Date through the Vesting Date in order for the Operational Excellence Option Shares RSUs to vest as provided in this Section 2(b).

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Eagle Materials Inc)

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