Performance -Based Vesting Based on EBITDA Sample Clauses

Performance -Based Vesting Based on EBITDA. This Option shall be exercisable, in whole or in part, when the target EBITDA of the Company is reached pursuant to the following vesting schedule provided Participant is employed by the Company on the dates such Performance Target is achieved. EBITDA shall be based on the Company’s year-end financial statement. Participant must be employed on the date of such financial statement in order to be deemed employed when the performance target is achieved.