Common use of Vesting of Restricted Units Clause in Contracts

Vesting of Restricted Units. (a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further effect at the time net earnings for Meridian’s fiscal year ended September 30, 2013 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $ , subject to treatment of certain items as defined in Item A of the 2013 Officers’ Performance Compensation Plan (Corporate Incentive Bonus Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above.

Vesting of Restricted Units. (a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further effect at the time net earnings for Meridian’s fiscal year ended September 30, 2013 2016 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $ $******, subject to treatment of certain items as defined in Item A of the 2013 2016 Officers’ Performance Compensation Plan (Corporate Incentive Bonus Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above.

Vesting of Restricted Units. (a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further effect at the time net earnings for Meridian’s fiscal year ended September 30, 2013 2017 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $ $*****, subject to treatment of certain items as defined in Item A of the 2013 2017 Officers’ Performance Compensation Plan (Corporate Incentive Bonus Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above.

Vesting of Restricted Units. (a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further effect at the time net earnings for Meridian’s fiscal year ended September 30, 2013 2015 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $ $******, subject to treatment of certain items as defined in Item A of the 2013 [2015] Officers’ Performance Compensation Plan (Corporate Incentive Bonus Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above.

Vesting of Restricted Units. (a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further effect at the time net earnings for Meridian’s fiscal year ended September 30, 2013 2018 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $ $********, subject to treatment of certain items as defined in Item A Section V of the 2013 Officers’ Performance 2018 Cash-Based Incentive Compensation Plan (Corporate Incentive Bonus Compensation Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above.