Tranche I Performance Options Sample Clauses
Tranche I Performance Options. One-third (1/3) of the Performance-Vesting Options shall vest and become exercisable, subject to the Optionee’s continued service with the Company or its Subsidiaries as of the date on which the applicable stock price thresholds stated below are achieved (determined in accordance with the “Tranche I Measurement Standard” (as defined below)) (the “Tranche I Performance Options”): (A) one-third (1/3) of the Tranche I Performance Options shall vest and become exercisable upon the first occurrence of the Shares achieving a stock price threshold of $60 per Share; (B) one-third (1/3) of the Tranche I Performance Options shall vest and become exercisable upon the first occurrence of the Shares achieving a stock price threshold of $80 per Share; and (C) one-third (1/3) of the Tranche I Performance Options shall vest and become exercisable upon the first occurrence of the Shares achieving a stock price threshold of $100 per Share. For purposes of this Section 4.2(a)(i), achievement of the applicable stock price thresholds will be measured based on the average of the per share closing price of a Share as reported on the principal exchange on which the Shares are listed for trading for any sixty (60) consecutive trading days commencing on or after January 26, 2012 (the “Tranche I Measurement Standard”). The applicable Vesting Commencement Date for the Tranche I Performance Options shall be the Grant Date.
Tranche I Performance Options. As to ________ of the Options (the “Tranche I Performance Options”), one-third shall be first eligible to vest and become exercisable on each of the third, fourth and fifth anniversaries of the Grant Date (i.e., [__________ Options on each of the third, fourth and fifth anniversaries of the Grant Date] [________ Options on each of the third and fourth anniversaries of the Grant Date and ________ Options on the fifth anniversary of the Grant Date]1) (such Options which have become so eligible, “Eligible Options,” and Options which have not become so eligible, “Non-Eligible Options”). Tranche I Performance Options shall vest and become exercisable if and when the “Tranche I Measurement 1First alternative if the number is divisible by three, second alternative if not. Standard” (as defined below) is satisfied on or following the anniversary of the Grant Date on which such Tranche I Performance Options first become Eligible Options, but not later than the sixth anniversary of the Grant Date (the “Vesting Eligibility Expiration Date”). By way of example, the second group of ________ Tranche I Performance Options shall vest and become exercisable if and when the Tranche I Measurement Standard is satisfied on or following the fourth anniversary of the Grant Date and prior to the Vesting Eligibility Expiration Date.
Tranche I Performance Options. As to ________ of the Options (the “Tranche I Performance Options”), one-third shall be first eligible to vest and become exercisable on each of the third, fourth and fifth anniversaries of the Grant Date (i.e., [__________ Tranche I Performance Options on each of the third, fourth and fifth anniversaries of the Grant Date] [________ Tranche I Performance Options on each of the third and fourth anniversaries of the Grant Date and ________ Tranche I Performance Options on the fifth anniversary of the Grant Date]1) (such Options which have become so eligible, “Eligible Options,” and Options which have not become so eligible, “Non-Eligible Options”). Tranche I
Tranche I Performance Options. As to 75,000 of the Options (the “Tranche I Performance Options”), 25% (i.e., 18,750 Options) shall be first eligible to vest and become exercisable on each of the first four (4) anniversaries of the CEO Effective Date (such Options which have become so eligible, “Eligible Options,” and Options which have not become so eligible, “Non-Eligible Options”). Tranche I Performance Options shall vest and become exercisable if and when the “Tranche I Measurement Standard” (as defined below) is satisfied on or following the anniversary of the CEO Effective Date on which such Tranche I Performance Options first become Eligible Options. By way of example, the second group of 18,750 Tranche I Performance Options shall vest and become exercisable if and when the Tranche I Measurement Standard is satisfied on or following the second anniversary of the CEO Effective Date.
Tranche I Performance Options. As to 45,000 of the Options (the “Tranche I Performance Options”), 25% (i.e., 11,250 Options) shall be first eligible to vest and become exercisable on each of the first four (4) anniversaries of the Effective Date (such Options which have become so eligible, “Eligible Options,” and Options which have not become so eligible, “Non-Eligible Options”). Tranche I Performance Options shall vest and become