Performance-Based Options. Subject to the other terms and conditions of this Agreement, the Performance-Based Options shall vest and become exercisable if (x) a Liquidity Event shall occur, (y) the Aggregate Share Value is equal to or greater than the Performance Vesting Value, and (z) BDT has received at least a 17.5% BDT IRR on its investment in the Company, with such vesting to occur upon the Liquidity Event.
Appears in 3 contracts
Sources: Nonqualified Stock Option Agreement (Alliance Laundry Holdings Inc.), Nonqualified Stock Option Agreement (Alliance Laundry Holdings Inc.), Nonqualified Stock Option Agreement (ALH Holding Inc.)