Eligible RSUs definition
Examples of Eligible RSUs in a sentence
If Grantee is not Retirement- Eligible, RSUs and PSUs subject to this Award are intended to be exempt from Section 409A of the Code, and this Award will be administered and interpreted in accordance with that intent.
Once the performance conditions for becoming Vesting Eligible RSUs are satisfied, such Vesting Eligible RSUs remain subject forfeiture until RSUs become “Vested RSUs” on the Vesting Date, unless otherwise provided on Exhibit A.
Notwithstanding the provisions hereof, in the event of a dispute between the Borrower and the Lender sufficient in the sole discretion of Escrow Agent to justify its doing so, Escrow Agent shall then be entitled at any time to tender into the registry or custody of any court of competent jurisdiction the Escrow Documents, together with such legal pleadings as it may deem appropriate, and thereupon be discharged from all further duties and liabilities under this Agreement.
All RSUs that do not become Vesting Eligible RSUs shall be forfeited.
Upon the earlier of such dates, settlement of all Eligible RSUs shall occur as otherwise provided in this Agreement.
Except as otherwise provided in this Section the Vesting Eligible RSUs will vest and be payable on the Vesting Date, provided the Holder has not incurred a Termination of Service prior to the Vesting Date.
The number of Eligible RSUs (if any) will be determined based on the achievement of TSR by the Company, as compared to the companies in the Index.
However, notwithstanding the preceding, once any shares have become Eligible RSUs, those Eligible RSUs will be eligible for accelerated vesting of equity awards due to a subsequent event to the extent provided in any such employment, change of control, retention or similar agreement.
If the Grantee ceases to be a Service Provider before the third annual anniversary of the Grant Date, any Eligible RSUs will be forfeited and returned to the Company at no cost to the Company, except as follows.
Upon a Change in Control the Performance Period shall terminate and the number of Vesting Eligible RSUs shall equal the greater of (1) the Target Award and (2) the number of RSUs that would be Vesting Eligible RSUs applying the formula in Section 1 based on actual performance through the Change in Control, subject to the TSR Modifier.