Performance Option Shares Sample Clauses

Performance Option Shares. This Option shall vest with respect to 4.40 Option Shares (the "Performance Option Shares") upon the attainment of certain goals described in this Section 2(d)(ii). This Option shall vest with respect to 1.466 Performance Option Shares as of the vesting dates set forth below if (x) the Company's EBITDA (as defined below) for the fiscal year ending on such vesting date equals at least the dollar amount set forth opposite such vesting date (each a "Target EBITDA") and (y) the Executive has been continuously employed with the Company from the date hereof through the applicable vesting date. Vesting Dates Target EBITDA Last day of fiscal year 1999 $17,628,000 Last day of fiscal year 2000 $18,060,000 Last day of fiscal year 2001 $20,392,000 Last day of fiscal year 2002 $24,024,000 ; provided that the last day of fiscal year 2002 vesting date is provided only for the purposes of vesting Performance Option Shares, if any, which do not vest on the last day of fiscal year 2001 and in no event shall more than 4.40 Option Shares vest pursuant to this Section 2(d)(ii). The effective date of vesting shall be as set forth above even though EBITDA for the applicable period may not be determined until a date thereafter. In the event that the Company does not achieve the Target EBITDA provided in the table above as of the last day of fiscal year 1999, the last day of fiscal year 2000 and/or the last day of fiscal year 2001, the portion of the Option which did not vest on any such date shall vest if the actual EBITDA for the following fiscal year exceeds the Target EBITDA for such following fiscal year by an amount greater than or equal to the shortfall in Target EBITDA for the prior fiscal year. In the event that (a) the Company consummates any acquisition of the capital stock or assets of another corporation in any given year or (b)the Company commits to a one-time unusual capital expenditure, the Target EBITDA for such year will be adjusted to account for the pro-forma and pro-rata EBITDA impact of such acquired corporation or such capital expenditure, as the case may be.
Sample 1
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Related to Performance Option Shares

  • Performance Option If the Company, on a consolidated basis, achieves its annual EBITDA targets as set forth in Schedule A attached hereto (each an “EBITDA Target” or “Annual Performance Target”) for the applicable given Fiscal Year, then the Performance Option shall be eligible to become vested and exercisable as to a percentage of the Shares subject to such Option at the end of each of the six Fiscal Years as follows:

  • Performance Options “Performance Option(s)” shall mean the portion of the Option designated as Performance Options in the Grant Notice.

  • Time Option An Option with respect to which the terms and conditions are set forth in Section 3(a) of this Agreement.

  • 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.

  • Initial Option Grant As of the end of the day of the date this Agreement is signed by the Company and Employee, the Company shall grant Employee an option to purchase the number of shares described in Exhibit A of common stock of the Company under the Company's 1992 Stock Option Plan, as amended, having an exercise price per share equal to the fair market value (as defined in the Stock Option Plan) of a share of common stock of the Company. Except as otherwise provided in the Stock Option Plan, the option shall become exercisable as described in Exhibit A.

  • Vested Options Prior to the Closing, the Board of Directors of the Company shall have adopted resolutions (in a form reasonably satisfactory to Parent), and the Company hereby agrees to take all other actions reasonably necessary, to cause, in accordance with the Yodlee, Inc. 1999 Stock Plan, as amended; the Yodlee, Inc. 2001 Stock Plan, as amended; the Yodlee, Inc. 2009 Equity Incentive Plan, as amended; and the Yodlee, Inc. 2014 Equity Incentive Plan, as amended (collectively the “Equity Plans”), each stock option granted thereunder (“Company Stock Option”) that is vested and exercisable and that remains outstanding as of immediately prior to the Closing, including Company Stock Options that will become vested as of the Closing (the “Vested Options”) to be exercised immediately prior to the Closing in a cashless net exercise with shares of Company Common Stock that would otherwise be received on the exercise of such Vested Option being retained by the Company to cover the exercise price and any applicable tax withholding obligations and to issue the net number of shares of Company Common Stock upon such net exercise to the holder of such Company Stock Option where the value of a share of Company Common Stock for purposes of the foregoing shall be the sum of (i) the Per Share Cash Consideration and (ii) the value of the Per Share Stock Consideration and for purposes of determining the value of the Per Share Stock Consideration, the Parent Stock Value used to determine the Per Share Stock Consideration will be used. As of the Effective Time, each such share of Company Common Stock shall be converted into the right to receive the sum of (i) the Per Share Cash Consideration and (ii) the Per Share Stock Consideration pursuant to the terms of this Article I. Each Vested Option outstanding immediately prior to the date of exercise, when exercised in accordance with this Section 1.7(a) or otherwise, shall no longer be outstanding, shall automatically be canceled and shall cease to exist. The Company agrees to process the exercise of the Vested Options through payroll as appropriate and to remit any necessary withholding amounts that arise upon the exercise of the Vested Options to the appropriate Tax authorities or Governmental Entities, as required by applicable law.

  • Performance Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Stock Option Vesting The provisions of this Section 2.2(d) shall apply to any equity based awards under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(d) by reference.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

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