Performance Vesting. The other fifty percent (50%) of the Units will be subject to both time and performance based vesting criteria (the “Performance Units”). Subject to Executive’s continued Employment through the applicable potential vesting date (or as otherwise provided in Section 2(d)), upon each occurrence of a Realization Event, the number of Performance Units that vest will equal the excess, if any, of (i) the Total Performance Vested Unit Number as of such Realization Event over (ii) the Previously Performance Vested Unit Number as of such Realization Event; provided, that, as of any time, the percentage of the Performance Units that are vested shall not exceed the product of (A) the percentage of the Time Units that are vested as of such time (after giving effect to any accelerated vesting contemplated by Section 2(e)(i)), and (B) the MOM Percentage as of such time. Performance Units that would have vested pursuant to the preceding sentence but for the proviso thereof shall vest at such time as doing so would not violate such proviso.
Appears in 6 contracts
Samples: Class C Lp Unit Grant Agreement (First Advantage Corp), Class C Lp Unit Grant Agreement (First Advantage Corp), Class C Lp Unit Grant Agreement (First Advantage Corp)
Performance Vesting. The other fifty percent (50%) % of the Units will be Restricted Shares are subject to both time and performance based vesting criteria (the “Performance UnitsShares”). Subject to ExecutiveParticipant’s continued Employment employment or service with the Company Group through the applicable potential vesting date (or as otherwise provided in Section 2(d)clause (d) below), upon each occurrence of a Realization Event, the number of Performance Units Shares that vest will equal the excess, if any, of (i) the Total Performance Vested Unit Share Number as of such Realization Event over (ii) the Previously Performance Vested Unit Share Number as of such Realization Event; provided, that, as of any time, the percentage of the Performance Units Shares that are vested shall not exceed the product of (A) the percentage of the Time Units Shares that are vested Vested Shares as of such time (after giving effect to any accelerated vesting contemplated by Section 2(e)(iclause (e)(i)), and (B) the MOM Percentage as of such time. Performance Units Shares that would have vested pursuant to the preceding sentence but for the proviso thereof shall vest at such time as doing so would not violate such proviso. As of the Exchange Date, the time based vesting criteria has been met with respect to 20% of the Performance Shares.
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Samples: Restricted Stock Grant and Agreement (First Advantage Corp), Restricted Stock Grant Agreement (First Advantage Corp)