Adjusted EBITDA Goal definition
Examples of Adjusted EBITDA Goal in a sentence
The Restricted Shares will be earned and vest in connection with the achievement of the Adjusted EBITDA Goal or Price Per Share Goal, as applicable, as defined in and as set forth in Exhibit B, subject to Participant’s continued Service through the applicable Vesting Date(s) (as defined in Exhibit B), except to the extent provided in Sections 2.2 and 2.3 below.
For clarity, if the Qualifying Termination occurs following the end of the Adjusted EBITDA Performance Period (as defined in Exhibit B) but prior to the filing of the Company’s Annual Report on Form 10-K for the Adjusted EBITDA Performance Period, the Restricted Shares shall remain outstanding and eligible to vest and become Vested Shares upon the filing of such Annual Report on Form 10-K if the Adjusted EBITDA Goal is achieved.
For clarity, if the Qualifying Termination occurs following the end of the Adjusted EBITDA Performance Period (as defined in Exhibit B) but prior to the filing of the Company’s Annual Report on Form 10-K for the Adjusted EBITDA Performance Period, the Restricted Shares shall remain outstanding and eligible to vest and become Vested Shares upon the filing of such Annual Report on Form 10-K to the extent an Adjusted EBITDA Goal is achieved.
For purposes of this Agreement, the term “2020 Earned Bonus” shall mean a percentage from 0% to 200% of $221,208, which percentage shall be determined in accordance with the Company’s 2020 Adjusted EBITDA as set forth on Annex A, where the 2020 Adjusted EBITDA Goal is $94.6 million; 1 Calculated per Effective Date.