Common use of Performance Vesting Requirement Clause in Contracts

Performance Vesting Requirement. The “Performance Vesting Requirement” means the performance-based vesting Restrictions for the Performance Units. The Performance Vesting Requirement shall be satisfied by the achievement of the “Performance Goal,” which is performance criteria established by the Committee pursuant to Article XI of the Plan and set forth in Appendix A attached hereto. Within 75 days after the end of the 20[__] calendar year, the Committee will review and analyze Approach’s performance for the 20[__] calendar year and determine whether the Performance Vesting Requirement has been satisfied. If the Committee determines that the Performance Vesting Requirement has been satisfied, the Committee will certify the achievement of the Performance Goal for the 20[__] calendar year and then the Time Vesting Requirement in Section 2(a)(ii) below will be the remaining Restriction applicable to the Performance Units; for the avoidance of doubt, except as provided in Section 2(c), no Performance Units shall become vested and no payments with respect to Performance Units shall be made prior to satisfaction of the Time Vesting Requirement applicable to such Performance Units. If the Committee determines that the Performance Vesting Requirement has not been satisfied, (i) the Participant shall have no rights whatsoever in and to any cash settlement in respect of any of the Performance Units, (ii) all of the Performance Units shall automatically revert to Approach at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives shall have any rights with respect thereto. The Committee’s certification of the achievement of the Performance Goal will be effective as of [__], 20[__], regardless of any delay in the Committee’s determination of whether the Performance Goal was satisfied for the 20[__] calendar year. The Committee shall have the sole discretion for determining whether the Performance Vesting Requirement has been satisfied and any such determination shall be conclusive.

Performance Vesting Requirement. The “Performance Vesting Requirement” means the performance-based vesting Restrictions for the Performance UnitsRestricted Shares. The Performance Vesting Requirement shall be satisfied by the achievement of the “Performance GoalGoals,” which is are performance criteria established by the Committee pursuant to Article XI of the Plan and set forth in Appendix A attached hereto. Within 75 days after After the end of the 20[__] 2010 calendar year, the Committee will review and analyze Approach’s performance for the 20[__] 2010 calendar year and determine whether the Performance Vesting Requirement has been satisfied. If the Committee determines that the Performance Vesting Requirement has been satisfied, the Committee will certify the achievement of each of the Performance Goal Goals for the 20[__] 2010 calendar year and then the Time Vesting Requirement in Section 2(a)(ii) below will be the remaining Restriction applicable to the Performance Units; for the avoidance of doubt, except as provided in Section 2(c), no Performance Units shall become vested and no payments with respect to Performance Units shall be made prior to satisfaction of the Time Vesting Requirement applicable to such Performance UnitsRestricted Shares. If the Committee determines that the Performance Vesting Requirement has not been satisfied, (i) the Participant shall have no rights whatsoever in and to any cash settlement in respect of any of the Performance UnitsRestricted Shares, (ii) all of the Performance Units Restricted Shares shall automatically revert to Approach at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives shall have any rights with respect thereto. The Committee’s certification of the achievement of the Performance Goal Goals will be effective as of [__]December 31, 20[__]2010, regardless of any delay in the Committee’s determination of whether the Performance Goal was Goals were satisfied for the 20[__] 2010 calendar year. The Committee shall have the sole discretion for determining whether the Performance Vesting Requirement has been satisfied and any such determination shall be conclusive.

Performance Vesting Requirement. The “Performance Vesting Requirement” means the performance-based vesting Restrictions for the Performance UnitsRestricted Shares. The Performance Vesting Requirement shall be satisfied by the achievement of the “Performance GoalGoals,” which is are performance criteria established by the Committee pursuant to Article XI of the Plan and set forth in Appendix A attached hereto. Within 75 days after After the end of the 20[__] 2011 calendar year, the Committee will review and analyze Approach’s performance for the 20[__] 2011 calendar year and determine whether the Performance Vesting Requirement has been satisfied. If the Committee determines that the Performance Vesting Requirement has been satisfied, the Committee will certify the achievement of each of the Performance Goal Goals for the 20[__] 2011 calendar year and then the Time Vesting Requirement in Section 2(a)(ii) below will be the remaining Restriction applicable to the Performance Units; for the avoidance of doubt, except as provided in Section 2(c), no Performance Units shall become vested and no payments with respect to Performance Units shall be made prior to satisfaction of the Time Vesting Requirement applicable to such Performance UnitsRestricted Shares. If the Committee determines that the Performance Vesting Requirement has not been satisfied, (i) the Participant shall have no rights whatsoever in and to any cash settlement in respect of any of the Performance UnitsRestricted Shares, (ii) all of the Performance Units Restricted Shares shall automatically revert to Approach at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives shall have any rights with respect thereto. The Committee’s certification of the achievement of the Performance Goal Goals will be effective as of [__]December 31, 20[__]2011, regardless of any delay in the Committee’s determination of whether the Performance Goal was Goals were satisfied for the 20[__] 2011 calendar year. The Committee shall have the sole discretion for determining whether the Performance Vesting Requirement has been satisfied and any such determination shall be conclusive.

Performance Vesting Requirement. The “Performance Vesting Requirement” means the performance-based vesting Restrictions for the Performance Units. The Performance Vesting Requirement shall be satisfied by the achievement of the “Performance Goal,” which is performance criteria established by the Committee pursuant to Article XI of the Plan and set forth in Appendix A attached hereto. Within 75 days after the end of the 20[__] 2016 calendar year, the Committee will review and analyze Approach’s performance for the 20[__] 2016 calendar year and determine whether the Performance Vesting Requirement has been satisfied. If the Committee determines that the Performance Vesting Requirement has been satisfied, the Committee will certify the achievement of the Performance Goal for the 20[__] 2016 calendar year and then the Time Vesting Requirement in Section 2(a)(ii) below will be the remaining Restriction applicable to the Performance Units; for the avoidance of doubt, except as provided in Section 2(c), no Performance Units shall become vested and no payments with respect to Performance Units shall be made prior to satisfaction of the Time Vesting Requirement applicable to such Performance Units. If the Committee determines that the Performance Vesting Requirement has not been satisfied, (i) the Participant shall have no rights whatsoever in and to any cash settlement in respect of any of the Performance Units, (ii) all of the Performance Units shall automatically revert to Approach at no cost and (iii) neither the Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives shall have any rights with respect thereto. The Committee’s certification of the achievement of the Performance Goal will be effective as of [__]December 31, 20[__]2016, regardless of any delay in the Committee’s determination of whether the Performance Goal was satisfied for the 20[__] 2016 calendar year. The Committee shall have the sole discretion for determining whether the Performance Vesting Requirement has been satisfied and any such determination shall be conclusive.