Performance-Based Vesting Schedule Sample Clauses

Performance-Based Vesting Schedule. Upon the Grantee’s death or Disability, all of the Grantee’s Options with performance-based vesting provisions are subject to the following two rules: (i) the Grantee will forfeit all such Options that are not exercisable as of the date of the Grantee’s death or Disability; and (ii) Options that were exercisable as of the date of the Grantee’s death or Disability will remain exercisable until the earlier of (A) the date three years after the date of the Grantee’s death or Disability, or (B) the date the Options expire in accordance with their terms.
Sample 1Sample 2
AutoNDA by SimpleDocs
Performance-Based Vesting Schedule. Upon the Grantee’s death, Disability, or Retirement, all of the Grantee’s Options with performance-based vesting provisions are subject to the following two rules: (i) the Grantee will forfeit all such Options that are not exercisable as of the date of the Grantee’s death, Disability or Retirement; and (ii) Options that were exercisable as of the date of the Grantee’s death, Disability or Retirement will remain exercisable until the earlier of (A) the date three years after the date of the Grantee’s death, Disability or Retirement, or (B) the date the Options expire in accordance with their terms.
Sample 1
Performance-Based Vesting Schedule. Vesting of the Non-Qualified Stock Option for the remaining 18,000 shares is subject to a performance-based graded vesting schedule that annually measures ROAE of 1st Pacific Bank of California (the “Bank”) for the Performance Period against ROAE of the Comparative Group for that same Performance Period. Each “Performance Period” shall be the calendar year. The first Performance Period under this Agreement shall run from January 1, 2008 to December 31, 2008. A maximum of 3,600 shares can become vested for any single Performance Period. Vesting shall be based on the Bank’s ROAE during each Performance Period relative to the Comparative Group for that same Performance Period, as shown on the following table: Bank ROAE Relative to Comparative Group (Performance Standard) Vesting Amount 2008 Performance Period: Bank ROAE must be equal to or greater than the ROAE at the top of the lower 33rd percentile of members of the Comparative Group 3,600 Shares 2009 Performance Period: Bank ROAE must be equal to or greater than the ROAE at the top of the 50th percentile of members of the Comparative Group 3,600 Shares 2010 Performance Period: Bank ROAE must be equal to or greater than the ROAE at the top of the 50th percentile of members of the Comparative Group 3,600 Shares 2011 Performance Period: Bank ROAE must be equal to or greater than the ROAE at the top of the 50th percentile of members of the Comparative Group 3,600 Shares 2012 Performance Period: Bank ROAE must be equal to or greater than the ROAE at the top of the 50th percentile of members of the Comparative Group 3,600 Shares Each Performance Period after 2012: Bank ROAE must be equal to or greater than the ROAE at the top of the 50th percentile of members of the Comparative Group 100% of available Roll Forward Shares, if any, provided that a maximum of 3,600 Shares may vest for any given Performance Period) Vesting can occur for a given Performance Period only if the Participant is still employed by the Company (or a subsidiary thereof) on the last day of that Performance Period. The Company may, in its discretion, lower the performance standards for any given Performance Period. The Company shall lower the performance standards for any given Performance Period to match the actual and ultimate performance goals applicable under the 1st Pacific Bank of California Incentive Compensation Plan for Senior Management.
Sample 1
Performance-Based Vesting Schedule. Subject to any acceleration provisions contained in the Plan or otherwise as set forth below, vesting under the Award shall be subject to the following terms and conditions, as well as those set forth in the accompanying exhibits.
Sample 1

Related to Performance-Based Vesting Schedule

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Time-Based Vesting Fifty Percent (50%) of the Executive Stock shall vest on each date set forth below (each, a "Vesting Date") as to that number of shares of the Executive Stock set forth opposite such Vesting Date: Vesting Date No. of shares of Executive Stock ------------ -------------------------------- On the first anniversary of the Effective 12.5% of the Executive Stock Date After the first anniversary of the Effective An additional 1.0417% of the Executive Stock Date through the fourth anniversary of the on the first day of each calendar month after the Effective Date first anniversary of the Effective Date until 50% of the Executive Stock is vested

  • Performance Based Bonus As additional compensation, the Executive shall be entitled to receive a performance based bonus, based on meeting revenue and cash flow objectives. The Executive shall be granted options ("Performance Options") to purchase an aggregate of 220,000 shares of Common Stock, subject to anti-dilution provisions relating to adjustments in the event that the Company, among other things, declares stock dividends, effects forward or reverse stock splits, at an exercise price of the fair market value of the date of the grant, and shall be exercisable for a period of four (4) years from the date of vesting unless sooner terminated, as described herein. The date of grant shall be the Effective Date of this Agreement. Up to one-half of these shares will be eligible for vesting on a quarterly basis and the rest annually, with the total grant allocated over a two-year period, starting with the quarter ended December 31, 2007. Vesting of the quarterly portion is subject to achievement of increased revenues over the prior quarter as well as positive and increased net cash flow per share (defined as cash provided by operating activities per the Company’s statement of cash flow, measured before changes in working capital components and not including investing or financing activities) for that quarter. Vesting of the annual portion is subject to meeting the above cash flow requirements on a year-over-year basis, plus a revenue growth rate of at least 30% for the fiscal year over the prior year, starting with the fiscal year ended September 30, 2008. In the event of quarter to quarter decreases in revenues and or cash flow, the Performance Options shall not vest for that quarter but the unvested quarterly Performance Options shall be added to the available Performance Options for the year, vested subject to achievement of the applicable annual goal. In the event this Agreement is not renewed or the Executive is terminated other than for Cause, the Executive shall be entitled to register the stock underlying the vested portion of the Performance Options provided hereunder on the terms and conditions set forth in a registration rights agreement to be mutually agreed upon by and between Executive and the Company. The Company shall file such Registration Statement as promptly as practicable and at its sole expense. The Company will use its reasonable best efforts through its officers, directors, auditors and counsel in all matters necessary or advisable to file and cause to become effective such Registration Statement as promptly as practicable. Company and Executive agree that this bonus program will continue after the initial two-year period, through the end of the Term, with the specific bonus parameters to be negotiated in good faith between the parties at least ninety (90) days before the expiration of the program then in place.

  • Vesting Schedule Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs.

  • Vesting Schedules The vested interest of each Employee (who has an Hour of Service on or after January 1, 1989) in his Employer-derived account balance shall be determined on the basis of the following schedules:

  • Performance-Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

  • Equity-Based Awards For each calendar year during the Term, the Executive shall be eligible to participate in and receive equity-based awards under the Company’s 2014 Stock Incentive Plan, and any and all successor or replacement plans as may be determined by the Board or the Committee (collectively, “Incentive Plan”).

  • Performance Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Vesting Dates The ISOs shall vest as follows, subject to earlier vesting in the event of a termination of Service as provided in Section 6 or a Change in Control as provided in Section 7: ISOs for

  • Vesting of Performance Shares As long as you remain employed with PG&E Corporation, the Performance Shares will vest on the first business day of March (the “Vesting Date”) of the third year following the date of grant specified in the cover sheet. Except as described below, all Performance Shares subject to this Agreement that have not vested shall be forfeited upon termination of your employment.

Time is Money Join Law Insider Premium to draft better contracts faster.