Tranche 2 Options definition

Tranche 2 Options means the portion of the Option to purchase the number of shares of Stock set forth in Schedule A that is subject to time-based and performance-based vesting in accordance with the terms of this Agreement, including Schedule A, and the Plan.
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Tranche 2 Options. The Tranche 2 Options shall become vested in 12 installments, as follows: March 31, 2022 8.33% June 30, 2022 16.66% September 30, 2022 25.0% December 31, 2022 33.33% March 31, 2023 41.66% June 30, 2023 50.0% September 30, 2023 58.33% December 31, 2023 66.66% March 31, 2024 75% June 30, 2024 83.33% September 30, 2024 91.66% December 31, 2024 100% provided that you remain continuously employed by or continue to provide services to the Company or one of its Subsidiaries from the Date of Grant through the applicable vesting date. 4. For purposes of the Optionee’s severance entitlements, all of the Options will be considered to vest based upon the passage of time during continued employment without specific performance requirements. 5. Except as set forth in this Amendment, the Options will continue in effect according to the Option Agreement.
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Tranche 2 Options and “Tranche 3 Options” shall have the meanings set forth in the Option Agreement.
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Examples of Tranche 2 Options in a sentence

  • The Tranche 2 Options will become eligible to vest (subject to achieving a 0.5x Return to Investor) with respect to 25% of the Tranche 2 Options on each of the first, second, third and fourth anniversaries of the Grant Date.

  • Subject to the other terms and provisions of this Agreement and the Plan, Tranche 2 Options not eligible to vest on the date a 0.5x Return to Investor is achieved, shall thereafter vest and become exercisable when they become eligible to vest.

  • Tranche 2 Options that are eligible to vest shall only vest and become exercisable upon the achievement of a 0.5x Return to Investor.

  • The Tranche 2 Options shall only vest and become exercisable upon a 2.0x Return to Investor.

  • The existing vesting provisions of the Tranche 2 Options are hereby eliminated.

  • As a result of GBLI not achieving Board approved income, premium volume, and underwriting profitability targets, the Tranche 2 Options are unvested.

  • Tranche 2 Options currently expire if otherwise extant on December 31, 2024.

  • Notwithstanding anything to the contrary contained herein, in the event the performance metrics described in Section 3(b)(ii) with respect to the Tranche 2 Options are not achieved on December 31, 2014, the unvested Tranche 2 Options shall be immediately forfeited, and this Agreement shall be of no further force or effect with respect to the forfeited Options.

  • The existing formulaic exercise price of the Tranche 2 Options shall continue unaltered.

  • If any reduction under (B) above is required under this subsection (a)(i), it shall be taken first out of CiC Liquidated Damages or Liquidated Damages, as applicable, then out of the Special Payments, and then out of the equity vesting provided under the 2010 Senior Executive Option Certificate, starting first with any Tranche 2 Options.


More Definitions of Tranche 2 Options

Tranche 2 Options means, collectively, the Company Options described on Schedule 1.01(e).
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Tranche 2 Options. The Tranche 2 Options shall become vested in 12 installments, as follows: Vesting Date Cumulative Vesting Percentage March 31, 2022 8.33% June 30, 2022 16.66% September 30, 2022 25.0% December 31, 2022 33.33% March 31, 2023 41.66% June 30, 2023 50.0% September 30, 2023 58.33% December 31, 2023 66.66% March 31, 2024 75% June 30, 2024 83.33% September 30, 2024 91.66% December 31, 2024 100% provided that you remain continuously employed by or continue to provide services to the Company or one of its Subsidiaries from the Date of Grant through the applicable vesting date.
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Tranche 2 Options means Options with the terms set out in Schedule 3 under the heading “Tranche 2 Options” and subject to the terms of the Employee Incentive Plan.
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Tranche 2 Options. The Tranche 2 Options shall become vested in 12 installments, as follows: March 31, 2022 8.33% June 30, 2022 16.66% September 30, 2022 25.0% December 31, 2022 33.33% March 31, 2023 41.66% June 30, 2023 50.0% September 30, 2023 58.33% December 31, 2023 66.66% March 31, 2024 75% June 30, 2024 83.33% September 30, 2024 91.66% December 31, 2024 100% provided that you remain continuously employed by or continue to provide services to the Company or one of its Subsidiaries from the Date of Grant through the applicable vesting date.
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Related to Tranche 2 Options

  • Vested Options means the Options that have vested in accordance with Section 1.3 of this Agreement.

  • Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.

  • Promised Options means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Stock’s price per share, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to Exercise the Option.

  • Equity Awards means any stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock or other equity based awards granted by the Company to the Executive.