Landmark Event definition

Landmark Event means the first to occur, if any, of: (i) the effective date of the Initial Public Offering; and (ii) a Direct Listing; and (iii) the consummation of a Change in Control, but not including the circumstances described in Paragraph 2.1(g)of the Plan and provided that the Change in Control constitutes a “change in control event” under the Code Section 409A.
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Landmark Event means an Ownership Change Event or achievement of a performance goal which may be based on an achievement of the Company, a segment of the Company or an individual, as determined by the Company in its sole discretion. Any Landmark Events shall be clearly stated in each Participant´s Award Agreement and any settlement of RSUs will occur only if such settlement complies with or is exempt from the requirements of Section 409A.
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Landmark Event shall have the meaning defined in Section 2.1(x) of the Plan. If applicable, refer to Appendix 1 for the date, goal or other performance metric.
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Examples of Landmark Event in a sentence

  • If no Landmark Event occurs before the Expiration Date, the points will be forfeited and no RUUs or Universal Units will be issued in connection with the Award.

  • If a Landmark Event occurs but the Participant has not met their Cliff, the Company may, at its discretion, decide to allow the Dynamic RSUs to vest on the Landmark Event.

  • The Board of the Company, in its sole discretion, may determine the Landmark Event as a certain date, a specific goal or other performance metric for the means of vesting of an Award.

  • Immediately prior to a Landmark Event these points are converted into a percentage of the Pool and on the Landmark Event occurring the percentage is converted into Dynamic RUUs. The Dynamic RUUs credited to a Participant of the Pool, shall become 100% vested only after: (a) the Participant has completed the Cliff in accordance with clause 5.1; and (b) upon completion of a Landmark Event which occurs on or before the Expiration Date.

  • The Company may credit the Participant with an additional number of Fixed RSUs or Dynamic RSUs upon the completion of a Landmark Event which will vest separately from the Fixed RSUs or Dynamic RSUs accrued pursuant to the Equity Rate and the Task Rate.

  • Any Landmark Event is subject to compliance with all applicable regulatory requirements and the occurrence of it is subject to final determination by the Board.

  • If a Landmark Event occurs but the Participant has not met their Cliff, the Company may, at its discretion, decide to allow the Dynamic RUUs to vest on the Landmark Event.

  • There is a substantial risk that the Universal Units will not become transferable prior to the Landmark Event Deadline and the Restricted Universal Units will be forfeited without consideration under the terms of this Agreement.

  • The occurrence of a Landmark Event shall be subject to suspension if it does not comply with all applicable regulatory requirements until its full compliance.

  • Immediately prior to a Landmark Event these points are converted into a percentage of the Pool and on the Landmark Event occurring the percentage is converted into Dynamic RSUs. The Dynamic RSUs credited to a Participant of the Pool, shall become 100% vested only after: (a) the Participant has completed the Cliff in accordance with clause 4.1; and (b) upon completion of a Landmark Event which occurs on or before the Expiration Date.