Performance-Based Option Shares Sample Clauses

The Performance-Based Option Shares clause defines the allocation of company shares to individuals based on the achievement of specific performance targets. Typically, this clause outlines the criteria or milestones that must be met—such as reaching sales goals, completing projects, or hitting revenue benchmarks—before option shares are granted or vest. By tying share awards to measurable outcomes, this clause incentivizes performance and aligns the interests of recipients with the company's objectives, ensuring that equity is distributed in a way that rewards tangible contributions.
Performance-Based Option Shares. Subject to subparagraphs 3(c) and 3(d), the Performance-Based Option Shares will become exercisable in three Tiers, as follows: (1) 125,000 Performance-Based Option Shares will become exercisable upon attainment by PRGX, at any time following the first anniversary of the Grant Date (but prior to termination or expiration of this Option pursuant to Section 6), of a Market Price (as defined below) per share of the Common Stock of not less than $4.50 per share for 45 consecutive trading days ("Tier 1"); (2) 125,000 Performance-Based Option Shares will become exercisable upon attainment by PRGX, at any time following the second anniversary of the Grant Date (but prior to termination or expiration of this Option pursuant to Section 6), of a Market Price per share of the Common Stock of not less than $6.50 per share for 45 consecutive trading days ("Tier 2"); and (3) 125,000 Performance-Based Option Shares will become exercisable upon attainment by PRGX, at any time following the third anniversary of the Grant Date (but prior to termination or expiration of this Option pursuant to Section 6), of a Market Price per share of the Common Stock of not less than $8.00 per share for 45 consecutive trading days ("Tier 3"),
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Performance-Based Option Shares. All, or a portion of, the Performance-Based Option Shares shall become vested and exercisable on the Vesting Date, subject to (1) the Director remaining in continuous service as of the Board through the Vesting Date and (2) the successful achievement of the performance criteria discussed and agreed between the Board and the Director. All determinations regarding the level of achievement of the performance criteria and the number of Performance-Based Option Shares, if any, that become vested on the Vesting Date will be made in the sole good faith discretion of the Board. TWW and Director will work in good faith to modify or adjust any performance criteria as necessary or desired.
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Performance-Based Option Shares. Except as provided in Sections 3.2 and 3.3 hereof, the Option shall become exercisable with respect to all of the Performance Based Option Shares on February 15, 2002 if: (i) the average closing price of a share of Common Stock as reported on the New York Stock Exchange Composite Tape for any 20 consecutive trading days during the Performance Period is greater than $26.15; (ii) the performance measure set forth above in Section 3.1(b)(i) is not satisfied and the Company's rank for Total Return to Shareholders among S&P 500 Companies during the Performance Period exceeds the 60th percentile; or (iii) October 20, 2005, if neither of the above mentioned performance measures in this Section 3.1(b) are satisfied.
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Related to Performance-Based Option Shares

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.