Unvested Performance Options Sample Clauses

Unvested Performance Options. At the Effective Time, each Company Performance Stock Option that is outstanding immediately prior to the Effective Time and that is neither a Vested Company Option nor an Assumed Option (each, an “Unvested Company Performance Option”) shall be converted into an unvested award (“Converted Performance Option”) representing the right to receive an option to acquire Parent Class A Common Stock calculated in accordance with the procedures set forth in Section 3.6(d)(ii). Each Converted Performance Option shall otherwise be subject to the same terms and conditions (including as to vesting, exercisability and issuance) as were applicable under the respective Unvested Company Performance Option immediately prior to the Effective Time, except that all performance-vesting criteria applicable to performance periods ending after the Company’s fiscal year 2017 are deemed to be achieved at target levels as of immediately prior to the Effective Time. For the avoidance of doubt, each Converted Performance Option tranche with a performance period concluding on or before the end of the Company’s fiscal year 2017 shall vest only to the extent that either the applicable performance criteria are achieved or such Converted Performance Option accelerates pursuant to the holder’s severance agreement.
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Unvested Performance Options. (i) If Xxxxxxx’s Employment terminates for any reason, each Unvested Performance Option shall be forfeited for no consideration as of the Termination Date; provided, however, that in the event Grantee’s Employment is terminated (1) by the Company without Cause, (2) by the Grantee at such time as the Grantee is Retirement-Eligible, or (3) as a result of Xxxxxxx’s death or Disability, any Unvested Performance Option shall remain outstanding until such time as the Committee determines whether the relevant Performance Target is met as of the final day of the Quarter in which the Termination Date occurs, at which time such Performance Option shall be a Vested Performance Option and Article 3.2(b)(ii) or 3.2(b)(iii)(B) shall apply to such Performance Option, as applicable, or, if the relevant Performance Target is not met and such Performance Option remains an Unvested Performance Option, then it shall be forfeited for no consideration.
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Related to Unvested Performance Options

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

  • 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 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.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

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

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Time Vesting Subject to Sections 5(b) and 6 below, the RSUs will vest and become nonforfeitable in accordance with and subject to the vesting schedule set forth on Exhibit A attached hereto, subject to the Participant’s continued status as a Service Provider on the applicable vesting date.

  • Committee Discretion to Accelerate Vesting Notwithstanding the foregoing, the Committee may, in its sole discretion, provide for accelerated vesting of the Option at any time and for any reason.

  • Vesting of Performance Shares As long as you remain employed with PG&E Corporation, the Performance Shares will vest on the first business day of March (the “Vesting Date”) of the third year following the date of grant specified in the cover sheet. Except as described below, all Performance Shares subject to this Agreement that have not vested shall be forfeited upon termination of your employment.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

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