Tranche 2 Shares Clause Samples
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Tranche 2 Shares. The Tranche 2 Shares shall vest upon the achievement of a Qualifying Return to Investor, provided that the Grantee’s Employment continues through such time.
Tranche 2 Shares. Tranche 2 Shares shall be subject to the same service-based vesting requirement as Tranche 1 Shares and shall also be subject to performance-based vesting requirements as described below. Tranche 2 Shares shall vest (if at all) only if the Principal Investors have received, in the aggregate, cash proceeds and other cash distributions in respect of Company Securities (i) equal to two (2) times their Investment, and (ii) after April 2, 2012, of at least a 15% Internal Rate of Return to the Principal Investors.