Performance-Based Accelerated Vesting Sample Clauses
A Performance-Based Accelerated Vesting clause allows equity or stock options to vest more quickly if specific performance targets are met. Typically, this means that if an employee or company achieves certain predefined milestones—such as reaching revenue goals, completing a project ahead of schedule, or surpassing sales targets—the vesting schedule for their equity awards is shortened, granting them ownership sooner than originally planned. This clause incentivizes high performance by directly linking rewards to measurable achievements, thereby motivating employees and aligning their interests with the company’s success.
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Performance-Based Accelerated Vesting. (i) The Restricted Stock Award shall vest as indicated below upon attainment of any of the following events during the Term until the Restricted Stock Award is vested in full:
Performance-Based Accelerated Vesting. If the Company's EBITDA (as defined below) and the Company's Net Adds (as defined below) both equal or exceed the respective Achievement Threshold amounts for 2005 as set forth in paragraph (a) below and/or both equal or exceed the Achievement Threshold amounts for 2006 as set forth in paragraph (b) below, then a certain percentage of the number of shares of Common Stock subject to the Option shall vest and become exercisable in accordance with the provisions of paragraphs (a) and (b) below; provided, however, that no shares subject to the Option shall vest and become exercisable pursuant to paragraphs (a) or (b) below, if either the Company's EBITDA or Net Adds do not at least equal the Achievement Threshold amount for the applicable year.
Performance-Based Accelerated Vesting. If the Company's EBITDA (as defined below) and the Company's Net Adds (as defined below) both equal or exceed the respective Achievement Threshold amounts for 2005 as set forth in paragraph (a) below and/or both equal or exceed the respective Achievement Threshold amounts for 2006 as set forth in paragraph (b) below, then a certain percentage of the Unreleased Shares shall be released in accordance with the provisions of paragraphs (a) and (b) below; provided, however, that no Unreleased Shares shall be released pursuant to paragraphs (a) or (b) below if either the Company's EBITDA or Net Adds do not at least equal the Achievement Threshold amount for the applicable year.
Performance-Based Accelerated Vesting. Upon the occurrence of the Company’s achievement of aggregate net income before tax, on a fully-diluted basis, over four (4) consecutive quarters of $1.00 per share (the “Acceleration Target”), one hundred percent (100%) of the Units shall vest automatically. Achievement of the Acceleration Target shall be determined in the sole discretion of the Compensation Committee of the Board of Directors;
Performance-Based Accelerated Vesting. This option shall vest prior to the Vesting Date if and when holders of the Company’s Class A Preferred Units (the "Preferred Unit Investors") achieve a minimum return equal to four (4) times the the aggregate purchase price paid by the Preferred Unit Investors for both their Class A Preferred Units and their Common Units (the "Minimum Return Threshold"). The Class A Preferred Units and the Common Units purchased by the Preferred Unit Investors are referred to herein as the "Investment Units." The Preferred Unit Investors will have achieved the Minimum Return Threshold if one or all of the following events occurs:
(1) The total cumulative value of all distributions to the Preferred Unit Investors on the Investment Units made pursuant to Section 4.1 of the Company’s Limited Liability Company Agreement dated as of September 29, 2000, as amended (the "LLC Agreement"), whether made in cash or in additional units, equals the Minimum Return Threshold; or
(2) The total consideration received by the Preferred Unit Investors in a sale or exchange of the Investment Units (including, without limitation, distributions made pursuant to Section 4.1(e) of the LLC Agreement as a result of such sale or exchange) equals the Minimum Return Threshold; or
(3) The sum of (A) the aggregate consideration received by the Preferred Units Investors pursuant to a mandatory redemption of the Class A Preferred Units following a Public Offering (as that term is defined in the LLC Agreement) plus (B) the average closing price of the Company’s Common Units (or equivalent thereof) over a period of twenty (20) consecutive trading days following a Public Offering multiplied by the aggregate number of Common Units held by the Preferred Unit Investors, equals the Minimum Return Threshold; or
(4) The combined value of the distributions described in item (1) plus the consideration described in item (2) and/or item (3) equals the Minimum Return Threshold.
Performance-Based Accelerated Vesting. Accelerated vesting of an applicable percentage of the Units (increasing in increments of 12.5% and ranging between 0% and 100%) will occur automatically upon the Company's achievement of certain annual revenue targets as set forth on Schedule 1 attached hereto (the "Acceleration Targets").