Second Vesting Sample Clauses
Second Vesting. Upon the occurrence of the Second Vesting Event, the second one third of the membership units of the Company issued and transferred to Alteon under Section 8.1, that is 51,471 units, shall immediately vest. Company shall immediately notify Alteon of the occurrence of the Second Vesting Event. Such units vested by this occurrence will be nonrefundable and nonassessable, and the issuance and transfer to Alteon shall be irrevocable and independent of any obligations of Alteon under this Agreement.
Second Vesting. Subject to Executive being employed by Crown or one of its affiliates as of the date of the First Vesting, and subject to Section 2(b)(iv) below, the remaining Achieved Performance RSUs shall vest and become nonforfeitable on December 31, 2008 in accordance with the following formula: (Achieved Performance RSUs multiplied times the Modifier) less the Achieved Performance RSUs settled in the First Vesting, where the Modifier is as set forth below: Less than $47.86 mil 65 % $47.86 mil to 55.17 mil 85 % $55.17 mil to 61.93 mil 100 % $61.93 mil or more 135 %