Common use of Performance-Based Accelerated Vesting Clause in Contracts

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.

Appears in 4 contracts

Samples: Executive Employment Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc), Executive Employment Agreement (Leap Wireless International Inc)

AutoNDA by SimpleDocs

Performance-Based Accelerated Vesting. If the Company's ’s EBITDA (as defined below) and the Company's ’s Net Adds (as defined below) both equal or exceed the respective Achievement Threshold amounts for 2005 2006 as set forth in paragraph (a) below and/or both equal or exceed the respective Achievement Threshold amounts for 2006 2007 as set forth in paragraph (b) below and/or both equal or exceed the respective Achievement Threshold amounts for 2008 as set forth in paragraph (c) below, then a certain percentage of the Unreleased Shares shall be released in accordance with the provisions of paragraphs (a), (b) and (bc) below; provided, however, that no Unreleased Shares shall be released pursuant to paragraphs paragraph (a), (b) or (bc) below if either the Company's ’s EBITDA or Net Adds do not at least equal the Achievement Threshold amount for the applicable year.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc)

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 2006 as set forth in paragraph (a) below and/or both equal or exceed the respective Achievement Threshold amounts for 2006 2007 as set forth in paragraph (b) below and/or both equal or exceed the respective Achievement Threshold amounts for 2008 as set forth in paragraph (c) below, then a certain percentage of the Unreleased Shares shall be released in accordance with the provisions of paragraphs (a), (b) and (bc) below; provided, however, that no Unreleased Shares shall be released pursuant to paragraphs paragraph (a), (b) or (bc) below if either the Company's EBITDA or Net Adds do not at least equal the Achievement Threshold amount for the applicable year.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc)

AutoNDA by SimpleDocs

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 and/or both equal or exceed the respective Achievement Threshold amounts for 2007 as set forth in paragraph (c) below, then a certain percentage of the Unreleased Shares shall be released in accordance with the provisions of paragraphs (a), (b) and (bc) below; provided, however, that no Unreleased Shares shall be released pursuant to paragraphs (a), (b) or (bc) below if either the Company's EBITDA or Net Adds do not at least equal the Achievement Threshold amount for the applicable year.

Appears in 1 contract

Samples: Executive Employment Agreement (Leap Wireless International Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!