Common use of Liquidity Event Vesting Clause in Contracts

Liquidity Event Vesting. Subject to Section 2.4, if in connection with a Liquidity Event, on any single date, Liquidity Proceeds both (i) equal or exceed two (2) times the Investment and (ii) result in an IRR that equals or exceeds 17.5% (together the “Liquidity Event Hurdles”), in each case, as determined by the Administrator, then all then unvested Performance Options shall vest and become exercisable as of immediately prior to such Liquidity Event.

Liquidity Event Vesting. Subject to Section 2.42.3, if in connection with a Liquidity Event, on any single date, Liquidity Proceeds both the Administrator determines that (i) Liquidity Proceeds equal or exceed two (2) times the Investment and (ii) result in an the IRR that equals or exceeds 17.520% (together the “Liquidity Event Hurdles”), in each case, as determined by the Administrator, then all then unvested Performance Options shall vest and become exercisable as of immediately prior to such Liquidity Event.