Payment Cap Measurement Date definition
Payment Cap Measurement Date means the earlier of: (A) the last day of the Performance Period; and (B) the date of any Change in Control occurring during the Performance Period.
Payment Cap Measurement Date means the earlier of: (A) the Vesting Date and (B) in the event of a Change in Control occurring prior to the Vesting Date in which a Replacement Award is not provided, the CIC Measurement Date. (iii) “Aggregate Value” for the Payment Cap Measurement Date means a dollar amount (rounded to the nearest whole dollar) equal to the product of (A) the number of PSUs earned under this Agreement, multiplied by (B) the Fair Market Value per share of Common Stock on such Payment Cap Measurement Date. (iv) “Aggregate Value Cap” for the Payment Cap Measurement Date means a dollar amount (rounded to the nearest whole dollar) equal to the product of (A) 100% of the PSUs granted pursuant to this Agreement, multiplied by (B) the Payment Cap Price. (v) “Excess Number of PSUs” for the Payment Cap Measurement Date means a number of PSUs equal to the number determined by first calculating the positive difference, if any, between (A) the Aggregate Value minus (B) the Aggregate Value Cap, and then dividing any such resulting positive dollar amount by the Fair Market Value per share of Common Stock on the Payment Cap Measurement Date (rounding up to the nearest whole PSU).
Payment Cap Measurement Date means the earliest of: (A) the First Vesting Date; (B) the date of any Change in Control occurring during the Performance Period; (C) the date of Vesting under Section 4(a)(i) (i.e., death or permanent disability during the Performance Period); (D) the date of Vesting under Section 4(b)(i)(B) (i.e., involuntary termination without Cause during the Performance Period and not within two years after a Change in Control); provided, however, that if Vesting under Section 4(b)(iii) is applicable, then the Payment Cap Measurement Date shall instead be considered (X) the date of the applicable Change in Control (if such Change in Control occurs during the Performance Period), or (Y) the First Vesting Date (if such Change in Control occurs after the Performance Period).
Examples of Payment Cap Measurement Date in a sentence
Importantly, notwithstanding any other provision of the Agreement, if the Market Value per Share exceeds $60.00 on the Payment Cap Measurement Date, then a portion of the PRSUs earned under this Agreement equal to the Excess Number of PRSUs (plus their related dividend equivalents) shall be permanently forfeited and cease to be earned or payable.
More Definitions of Payment Cap Measurement Date
Payment Cap Measurement Date means the earliest of: (A) the First Vesting Date; (B) the date of any Change in Control occurring during the Performance Period; (C) the date of Vesting under Section 4(a)(i) (i.e., death or permanent disability during the Performance Period); (D) the date of Vesting under Section 4(b)(i)(B) (i.e., involuntary termination without Cause during the Performance Period and not within two years after a Change in Control); provided, however, that if Vesting under Section 4(b)(iii) is applicable, then the Payment Cap Measurement Date shall instead be considered (X) the date of the applicable Change in Control (if such Change in Control occurs during the Performance Period), or (Y) the First Vesting Date (if such Change in Control occurs after the Performance Period).