Performance-Based Option definition

Performance-Based Option means an option granted pursuant to the provisions of Section 7.O.

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Performance-Based Option means an Option that vests in accordance with the performance conditions set forth in the applicable Option Grant Agreement as may be varied or accelerated by the Committee at its sole discretion. The Committee may in its absolute discretion also additionally impose time-based vesting conditions on such Performance–Based Options, which shall be set forth in the Option Grant Agreement. In addition, the Committee may, in its absolute discretion, adjust the performance conditions to some or all of the Performance-Based Options as set forth in the Option Grant Agreement in the event of exceptional circumstances outside of management’s control which may materially affect the Group’s performance such that the Participants do not receive or suffer an undue advantage or disadvantage (as the case may be).

Performance-Based Option means an Option with a fixed Exercise Price equal to the Fair Market Value of the underlying Common Stock on the Grant Date which vests, subject to the Participant being Employed on the Liquidity Event, based on the achievement of MoM targets, as follows (unless otherwise specified in a Stock Option Grant Agreement):

Examples of Performance-Based Option in a sentence

• The Performance-Based Option shall expire seven (7) years from the date of grant, subject to earlier expiration following Executive’s termination of employment as may be provided in the Incentive Plan and the applicable option agreement or notice.

• The Performance-Based Option shall vest on December 31, 2010 (subject to acceleration as set forth in Section 3.4(b) below), provided Executive is still employed by the Company on such date and subject to such other vesting terms as may be provided in the Incentive Plan and the applicable option agreement or notice.

• Vesting Schedule Applicable to $35.00 Price Target Performance-Based Option: The $35.00 Price Target Performance-Based Option shall vest and become exercisable on the date on which the $35.00 Price Target (as defined below) is achieved.

• Except as set forth in Section 5 hereof, if the Optionee’s employment with the Company or any of its Subsidiaries is terminated prior to the Tranche 1 Performance Vesting Date and/or the Tranche 2 Performance Vesting Date, the Tranche 1 Performance-Based Option and/or Tranche 2 Performance-Based Option, as applicable, shall be forfeited, as described in Section 5 hereof.

• Except as set forth in Section 5 hereof, if the Optionee’s employment with the Company is terminated prior to the 2X Performance Vesting Date and/or the 3X Performance Vesting Date, the Tranche 1 Performance-Based Option and/or Tranche 2 Performance-Based Option, as applicable, shall be forfeited, as described in Section 5 hereof.

More Definitions of Performance-Based Option

Performance-Based Option means a Company Stock Option, the vesting of which is subject to performance-based criteria

Performance-Based Option shall have the meaning set forth in Section 4.5.2.

Performance-Based Option means an Option that vests in accordance with the performance conditions set forth in the applicable Option Grant Agreement. The Committee may in its absolute discretion also additionally impose time-based vesting conditions on such Performance-Based Options, which shall be set forth in the Option Grant Agreement. In addition, the Committee may, in its absolute discretion, adjust the performance conditions to some or all of the Performance-Based Options as set forth in the Option Grant Agreement in the event of exceptional circumstances outside of management’s control which may materially affect the Group’s performance such that the Participants do not receive or suffer an undue advantage or disadvantage (as the case may be).

Performance-Based Option means an Option which vests based on the achievement of EBITDA targets to be established by the Board, and set forth in the applicable Option Grant Agreement; provided that if any Performance-Based Option does not vest during a fiscal year as a result of not meeting such fiscal year’s EBITDA target, such Option shall remain outstanding until terminated in accordance with its terms and shall become immediately vested upon the occurrence of (i) the achievement of cumulative EBITDA targets for such fiscal year and the first fiscal year following such fiscal year; or (ii) the occurrence of a Liquidity Event at any time during the term of the Option in which the Majority Stockholder realizes an MoM that is at least 2.2; subject to the Participant being Employed on such vesting date.

Performance-Based Option means the performance-based option issued to ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ pursuant to his separation agreement dated May 29, 2015.

Performance-Based Option means the portion of the Option with respect to 70,000 shares of Common Stock that does not constitute the Time-Based Option.

Performance-Based Option means an Option with a fixed Exercise Price equal to the Fair Market Value of the underlying Common Stock on the Grant Date which vests based on the achievement of EBITDA targets to be established by the Board in consultation with the Chief Executive Officer of Biomet, Inc. and set forth in the applicable Stock Option Grant Agreement; provided that (i) if any Performance Based Option does not vest during a fiscal year, such Option shall remain outstanding until terminated in accordance with its terms and shall be subject to the achievement of cumulative performance targets (which will include the performance targets established for the following fiscal years) during the term of the Option, as determined by the Board and set forth in the applicable Stock Option Grant Agreement; and (ii) if: