Common use of Determination of Performance Clause in Contracts

Determination of Performance. The performance condition (“Performance Condition”) for the Award is set forth on Schedule I hereto and the results of the performance must be certified by the Company’s Compensation Committee before determined to have been met. Such certification must be completed on or before March 31, 2015 with respect to 2014 (the date of such certification being the “Performance Certification Date”). If and to the extent the Performance Condition is not satisfied, the Restricted Shares for which it is not satisfied will be immediately forfeited upon March 31, 2015 with respect to 2014. Restricted Shares for which the Performance Condition is satisfied are “Performance-Adjusted Restricted Shares” (i.e., the number of Restricted Shares remaining after any downward adjustment for the application of the Performance Condition).

Appears in 2 contracts

Samples: Restricted Stock Agreement (Demandware Inc), Stock Option Agreement (Demandware Inc)

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Determination of Performance. The performance condition (“Performance Condition”) for the Award is set forth on Schedule I hereto and the results of the performance must be certified by the Company’s Compensation Committee before determined to have been met. Such certification must be completed on or before March 31, 2015 with respect to 2014 20 (the date of such certification being the “Performance Certification Date”). If and to the extent the Performance Condition is not satisfied, the Restricted Shares for which it is not satisfied will be immediately forfeited upon March 31, 2015 with respect to 201420 . Restricted Shares for which the Performance Condition is satisfied are “Performance-Adjusted Restricted Shares” (i.e., the number of Restricted Shares remaining after any downward adjustment for the application of the Performance Condition).

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Demandware Inc), Restricted Stock Agreement (Demandware Inc)

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