Performance-Based Restricted Stock. Except as otherwise provided in this Agreement, two-thirds of the Restricted Shares (the “Performance-Based Restricted Stock”) shall contingently vest in equal installments on the day prior to each of the first, second, third and fourth anniversary of the Effective Date provided that the Executive remains employed with the Company on each such date (the “Service Condition”), but shall not be considered to be fully vested until and unless the condition described in Section 2(b)(i) or 2(b)(ii), as applicable, has been satisfied (each such condition, a “Performance Condition”).
Performance-Based Restricted Stock. In the event (i) of the death of the Employee, or (ii) the Company terminates the Employee’s employment due to a permanent and total disability which results in the Employee’s inability to return to work with the Company, in either case prior to the end of Fiscal Year 20__, fifty percent (50%) of Maximum Number of Shares of Performance-Based Restricted Stock (as set forth on page 1) shall become immediately free of the restrictions of Section A.1(b). In the event (i) of the death of the Employee, or (ii) the Company terminates the Employee’s employment due to a permanent and total disability which results in the Employee’s inability to return to work with the Company, in either case subsequent to the end of Fiscal Year 20__, all shares of Performance-Based Restricted Stock which are earned but not yet free of the restrictions of Section A.1(b) shall become immediately free of such restrictions.
Performance-Based Restricted Stock. For each twelve (12)-month period ending December 31, 20__, 20__ and 20__, the Board of Directors will approve an annual return on equity target (each, an “Annual Performance Target”). Subject to the Company achieving such Annual Performance Targets, on an average basis over the three (3)-year period ending December 31, 20__ (the “Performance Period” and such average attainment the “Total Performance Target”), the Performance-Based Restricted Stock shall vest pursuant to the following terms and no longer be subject to cancellation pursuant to Section 4 or the transfer restrictions set forth in Section 7:
Performance-Based Restricted Stock. Subject to the Company achieving its Earnings Before Interest and Taxes target (the “Performance Target”) in the 12-month period ending on September 30th each year (the “Performance Period”), the Performance-Based Restricted Stock shall vest pursuant to the following terms and no longer be subject to cancellation pursuant to Section 4 or the transfer restrictions set forth in Section 7:
Performance-Based Restricted Stock. All unvested shares of Performance-Based Restricted Stock shall remain open and continue to vest on the FID as if the Participant had not experienced a Termination of Service; provided, however, that the Plan Administrator will have the ability, in its sole discretion, to accelerate the vesting of the Performance-Based Restricted Stock even if the FID has not yet occurred.
Performance-Based Restricted Stock. Subject to the Contingencies and Restrictions set forth in this Section, the Company has granted the Performance Based Restricted Stock to Participant as of the Grant Date as set forth on the Award Agreement and Stock Power.
Performance-Based Restricted Stock. For each twelve (12)-month period ending December 31, _____, _____ and _____, the Board of Directors will approve an annual return on equity target (each, an “Annual Performance Target”). Subject to the Company achieving such Annual Performance Targets, on an average basis over the three (3)-year period ending December
Performance-Based Restricted Stock. Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants the Employee [ ] [ ] shares of restricted, common stock of the Company (the “Performance-Based Restricted Stock”) as of the Grant Date.
Performance-Based Restricted Stock. The remaining forty percent (40%) of the Restricted Stock shall vest based upon the satisfaction of performance criteria (the
Performance-Based Restricted Stock. At the effective time, each Eagle performance-based restricted share outstanding as of immediately prior to the effective time of the merger will be cancelled and converted into Star Bulk restricted shares with respect to a number of shares of Star Bulk common stock equal to the product (rounded to the nearest whole share) of (i) the number of shares of Eagle common stock subject to such Eagle performance-based restricted share based on the actual level of performance achieved as of the end of the applicable performance period or, if the effective time of the merger occurs prior to the end of the applicable performance period, then the actual level of performance achieved as of immediately prior to the effective time of the merger, in each case as determined by the Eagle Board in accordance with the applicable plans and agreements (including any accrued but unpaid dividends or dividend equivalents in respect of such Eagle performance-based restricted share), and (ii) the exchange ratio, subject to the same terms and conditions as were applicable to such Eagle performance-based restricted share immediately prior to the effective time of the merger (except that such Star Bulk Restricted Share will no longer be subject to performance-based vesting conditions and except for any ministerial changes).
