Examples of First Measurement Date in a sentence
If the Company is unable to meet or exceed these KPIs on the First Measurement Date or the Second Measurement Date, or voluntarily or involuntary becomes subject to bankruptcy proceedings, Rakuten will have the option to require the Company to redeem the Rakuten Shares at the redemption price of $30 per share (the “Rakuten Redemption Clause”).
Restricted share unit awards granted under the RSU Plan as a result of achievement of the total shareholder return performance conditions are subject to continued service, with vesting as follows: • Awards granted after the First Measurement Date - 50% vest after one year, 50% vest after three years.• Awards granted after the Second Measurement Date - 50% vest after one year, 50% vest after two years.• RSUs granted after the Third Measurement Date - 100% vest after one year.
The awards comprise three tranches, based on performance measured from January 1, 2022, to the following three measurement dates: • First Measurement Date: December 31, 2023;• Second Measurement Date: December 31, 2024; and• Third Measurement Date: December 31, 2025.
The initial Earn-Out payment (the "INITIAL EARN-OUT PAYMENT") shall be an amount in cash based on the number of Units in Service (as hereinafter defined) as of October 31, 2001 (the "FIRST MEASUREMENT DATE"), determined by the following formula: $7,750,000 X 0.75 X U1 - 35,324 ----------- 5,631 where U1 equals Units in Service as of the First Measurement Date, provided, that the amount of the Initial Earn-Out Payment may not be less than zero nor more than $5,812,500.
The second earn-out payment (the "SECOND EARN-OUT PAYMENT") shall be an amount in cash based on the number of Units in Service as of October 31, 2002 (the "SECOND MEASUREMENT DATE", and, together with the First Measurement Date, the "MEASUREMENT DATES") determined by the following formula: $15,550,000 X U2 - 24,373 ----------- 8,391 less the amount of the Initial Earn Out Payment.