RESTRICTIONS, FORFEITURES, AND SETTLEMENT. Except as otherwise provided in this Section 2, MSUs shall be subject to the restrictions and conditions set forth herein during the period from the Award Date until the date such MSU has become vested and non-forfeitable such that there are no longer any MSUs that may become potentially vested and non-forfeitable (the “Restricted Period”). Vesting of the MSUs is conditioned upon you remaining continuously employed by the Company or a subsidiary of the Company from the Award Date until the relevant vesting date, subject to the provisions of this Section 2. In addition, for purposes of vesting, the MSU grant shall be divided into four tranches, each of which shall include 25% of the number of MSUs specified in the Grant Summary. Assuming satisfaction of such employment conditions, the MSUs shall vest only if the Share Price (as defined below) on the applicable Measurement Date (as defined below) equals at least 60% of the Share Price on the Award Date. If this threshold condition is satisfied, MSUs shall vest to the extent provided in the following schedule: (A) Tranche (B) MSUs in Tranche (C) Vesting Date (D) Payout Factor (E) Number of MSUs Vested
Appears in 5 contracts
Samples: Market Share Units Agreement (Bristol Myers Squibb Co), Market Share Units Agreement (Bristol Myers Squibb Co), Market Share Units Agreement (Bristol Myers Squibb Co)
RESTRICTIONS, FORFEITURES, AND SETTLEMENT. Except as otherwise provided in this Section 2, MSUs shall be subject to the restrictions and conditions set forth herein during the period from the Award Date until the date such MSU has become vested and non-forfeitable such that there are no longer any MSUs that may become potentially vested and non-forfeitable (the “Restricted Period”). Vesting of the MSUs is conditioned upon you remaining continuously employed by the Company or a subsidiary of the Company from the Award Date until the relevant vesting date, subject to the provisions of this Section 2. In addition, for purposes of vesting, the MSU grant shall be divided into four tranches, each of which shall include 25% of the number of MSUs specified in the Grant Summary. Assuming satisfaction of such employment conditions, the MSUs shall vest only if the Share Price (as defined below) on the applicable Measurement Date (as defined below) equals at least 60% of the Share Price on the Award Date. If this threshold condition is satisfied, MSUs shall vest to the extent provided in the following schedule:
(A) Tranche (B) MSUs B)MSUs in Tranche (C) Vesting C)Vesting Date (D) Payout D)Payout Factor (E) Number E)Number of MSUs Vested
Appears in 4 contracts
Samples: Market Share Units Agreement (Bristol Myers Squibb Co), Market Share Units Agreement (Bristol Myers Squibb Co), Market Share Units Agreement (Bristol Myers Squibb Co)
RESTRICTIONS, FORFEITURES, AND SETTLEMENT. Except as otherwise provided in this Section 2, MSUs each MSU shall be subject to the restrictions and conditions set forth herein during the period from the Award Date until the date such MSU has become vested and non-forfeitable such that that, with respect to a given tranche of MSUs, there are no longer any MSUs that may become potentially vested and non-forfeitable (the “Restricted Period”). Vesting of the MSUs is conditioned upon you remaining continuously employed by the Company or a subsidiary of the Company from the Award Date until the relevant vesting date, subject to the provisions of this Section 2. In addition, for purposes of vesting, the MSU grant of MSUs shall be divided into four tranches, each of which shall include 25% of the number of MSUs specified in the Grant Summary. Assuming satisfaction of such employment conditions, the MSUs shall vest only if the Share Price (as defined below) on the applicable Measurement Date (as defined below) equals at least 6080% of the Share Price on the Award Date. If this threshold condition is satisfied, MSUs shall vest to the extent provided in the following schedule:
(A) Tranche (B) MSUs in Tranche (C) Vesting Date (D) Payout Factor (E) Number of MSUs Vested
Appears in 2 contracts
Samples: Market Share Units Agreement (Bristol Myers Squibb Co), Market Share Units Agreement (Bristol Myers Squibb Co)