Examples of Unvested Performance Rights in a sentence
Any Unvested Performance Rights and/or Unvested Options which continue to be held by the Participant will be tested at the end of the Performance Period, in accordance with the Vesting Conditions set out in the Offer.
Notwithstanding the provisions of clause 12.1 or 12.2, the Board may, subject to compliance with the Listing Rules and the Corporations Act 2001, determine to treat any Unvested Options and/or Unvested Performance Rights held by a Participant who ceases to be employed by the Group during the Performance Period other than in the manner set out in clause 12.1 or 12.2 if the Board determines that the relevant circumstances warrant such treatment.
Unvested Performance Rights are not convertible to Shares upon satisfaction of an Applicable Milestone prior to vesting.
Unvested Performance Rights automatically vest and are automatically exercised upon the occurrence of a “Change of Control” occurring before the Expiry Date.
Other conditions attaching to Performance Rights Unvested Performance Rights the subject of Resolution 5 may, in certain circumstances, vest early in accordance with the terms of the LTIP, and any Leaver’s Policy as stated in the terms and conditions of the LTIP that may apply from time to time, as approved by the Board.
Other conditions attaching to Performance Rights Unvested Performance Rights the subject of Resolution 4 may, in certain circumstances, vest early in accordance with the terms of the LTIP, and any Leaver’s Policy as stated in the terms and conditions of the LTIP that may apply from time to time, as approved by the Board.
Rule 12.2 of the LTIP Rules states that in any other circumstances other than those defined as a Bad Leaver the Participant will be a Good Leaver and will be entitled to a pro-rata amount of their Unvested Performance Rights or Options with all remaining Unvested Performance Rights and Options lapsing.
Rule 12.1 of the LTIP Rules states that if a Participant ceases employment due to resignation, dismissal or any other circumstance the Board determines to constitute a Bad Leaver, then any Unvested Performance Rights or Options will immediately lapse.
If the vesting condition is not met, the relevant Unvested Performance Rights will be forfeited.
In the event that the participant ceases to be an employee of the Group for reasons other than resignation, voluntary termination or termination at the participants fault, the participants Unvested Performance Rights will automatically vest.