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 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.

Appears in 4 contracts

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

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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 and/or both equal or exceed the Achievement Threshold amounts for 2007 as set forth in paragraph (c) 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), (b) and (bc) below; provided, however, that no shares subject to the Option shall vest and become exercisable 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)

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 Achievement Threshold amounts for 2006 2007 as set forth in paragraph (b) below, and/or both equal or exceed the Achievement Threshold amounts for 2008 as set forth in paragraph (c) 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), (b) and (bc) below; provided, however, that no shares subject to the Option shall vest and become exercisable 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 1 contract

Samples: Stock Option Agreement (Leap Wireless International Inc)

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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 Achievement Threshold amounts for 2006 2007 as set forth in paragraph (b) below, and/or both equal or exceed the Achievement Threshold amounts for 2008 as set forth in paragraph (c) 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), (b) and (bc) below; provided, however, that no shares subject to the Option shall vest and become exercisable 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: Stock Option Agreement (Leap Wireless International Inc)

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