Common use of Vesting and Term Clause in Contracts

Vesting and Term. (a) On or before February 28, 2015, the Compensation Committee of ICG’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which ICG has achieved the 2014 performance goals outlined in the ICG 2014 Performance Plan adopted by the Board on February 28, 2014 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 100% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 2, 2015. If the Earned Percentage is more than 0% but less than 100%, a number of Shares equal to the product of (i) the Earned Percentage and (ii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 2, 2015. On March 2, 2015, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall be automatically forfeited.

Appears in 1 contract

Samples: Restricted Share Agreement (Icg Group, Inc.)

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Vesting and Term. (a) On or before February 28March 3, 20152017, the Compensation Committee of ICGActua’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which ICG Actua has achieved the 2014 2016 performance goals outlined in the ICG 2014 Actua 2016 Performance Plan adopted by the Board on February 28March 3, 2014 2016 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 100% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 23, 20152017. If the Earned Percentage is more than 0% but less than 100%, a number of Shares equal to the product of (i) the Earned Percentage and (ii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 23, 20152017. On March 23, 20152017, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall be automatically forfeited.

Appears in 1 contract

Samples: Restricted Share Agreement (Actua Corp)

Vesting and Term. (a) On or before February 28March 12, 20152018, the Compensation Committee of ICGActua’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which ICG Actua has achieved the 2014 2017 performance goals outlined in the ICG 2014 Actua 2017 Performance Plan adopted by the Board on February 28March 10, 2014 2017 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 100% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 212, 20152018. If the Earned Percentage is more than 0% but less than 100%, a number of Shares equal to the product of (i) the Earned Percentage and (ii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 212, 20152018. On March 212, 20152018, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall be automatically forfeited.

Appears in 1 contract

Samples: Restricted Share Agreement (Actua Corp)

Vesting and Term. (a) On or before February 2829, 20152016, the Compensation Committee of ICGActua’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which ICG Actua has achieved the 2014 2015 performance goals outlined in the ICG 2014 Actua 2015 Performance Plan adopted by the Board on February 2827, 2014 2015 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 100150% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 2February 29, 20152016. If the Earned Percentage is more than 0% but less than 100150%, a number of Shares equal to the product of (i) two-thirds, (ii) the Earned Percentage and (iiiii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 2February 29, 20152016. On March 2February 29, 20152016, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall be automatically forfeited.

Appears in 1 contract

Samples: Restricted Share Agreement (Actua Corp)

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Vesting and Term. (a) On or before February 28March 3, 20152014, the Compensation Committee of ICG’s Board of Directors (the “Board”) (such committee, the “Committee”) shall determine the extent (expressed as a percentage) to which ICG has achieved the 2014 2013 performance goals outlined in the ICG 2014 2013 Performance Plan adopted by the Board on February 28March 1, 2014 2013 (the “Performance Plan”) (such percentage, the “Earned Percentage”). If the Earned Percentage is 10050% or greater, all of the Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 23, 20152014. If the Earned Percentage is more than 0% but less than 10050%, a number of Shares equal to the product of (i) two times the Earned Percentage and (ii) the aggregate number of Shares (excluding any Shares forfeited pursuant to Section 1(c) or Section 1(d) below) shall vest on March 23, 20152014. On March 24, 20152014, any Shares not vested pursuant to this Section 1(a) or previously forfeited shall will be automatically forfeited.

Appears in 1 contract

Samples: Restricted Share Agreement (Icg Group, Inc.)

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