Common use of Management Objectives Clause in Contracts

Management Objectives. Except as otherwise provided in Section 4 and Section 5 of this Agreement, the Performance Shares granted pursuant to this Agreement shall vest in accordance with the achievement of the below performance-based and time-based service conditions. The Performance Shares shall be divided into three tranches as set forth in the table below (each a “Performance Tranche,” and collectively, the “Performance Tranches”). The vesting of each Performance Tranche is subject to (i) the time-based vesting conditions described below (the “Time Condition”) and (ii) one or more performance-based vesting conditions as described in the table below (the “Objective Conditions,” and collectively with the Time Condition, the “Management Objectives”), with each respective Performance Tranche vesting in the percentage of Performance Shares set forth in the table below once the Management Objectives applicable to such Performance Tranche have been certified by the Committee as met.