Realization Event Vesting Clause Samples

Realization Event Vesting. Subject to Section 2.4, if in connection with a Realization Event, on any single date, both Realization Proceeds (i) equal or exceed two and 3/10th (2.3) times the Investment and (ii) result in an IRR that exceeds 15% (together, the “Realization Event Hurdles”), in each case, as determined by the Administrator, then 100% of the Shares subject to the Realization Event Options shall become vested and exercisable as of immediately prior to the Realization Event; provided, however, that if no Change of Control Transaction occurs prior to the Measurement Date, then such Measurement Date shall be deemed to be a Realization Event and in connection therewith, 100% of the Shares subject to the Realization Event Options shall vest as of such Realization Event if (i) the Effective MOIC equals or exceeds two and 3/10th (2.3) and (ii) the Effective IRR exceeds 15% (the “Effective Realization Event Hurdles”).