Examples of Total Equity Return Multiple in a sentence
For the avoidance of doubt, the Return Target Options shall expire, and shall not vest or become exercisable, if the Total Equity Return Multiple as of the date of a Termination Event is not equal to or greater than [three].
The Return Target Options will have vested and become exercisable if (A) Optionholder is, and has been, continuously employed by the Company or its Subsidiaries from the date of this Agreement through the date of a Termination Event and (B) if upon the consummation of such Termination Event, the Total Equity Return Multiple as of the date of such Termination Event is equal to or greater than three.
If the Total Equity Return Multiple upon the consummation of a Sale of the Company is less than three, all Performance Units shall constitute Unvested Units for purposes of this Agreement.
The Performance Units will vest upon the occurrence of a Sale of the Company, subject to (i) the Purchaser’s continued employment with the Company or its Subsidiaries through the sale of the Company and (ii) the Total Equity Return Multiple (as defined below) upon the consummation of the Sale of the Company being equal to or greater than three.