Examples of Performance Condition in a sentence
If a Transaction Event occurs (excluding an Internal Reorganisation), all Options shall become Exercisable in full and the Board will have the sole discretion to amend, abridge or otherwise eliminate any Vesting Schedule and/or Performance Condition in relation to an Option so that notwithstanding the other terms of this Plan, such Option may be exercised in whole or in part by the Participant.
The Grantor shall evidence the grant of an Option in such manner as the Board shall decide (by resolution, deed or otherwise) and each Participant who has been granted an Option shall be issued with an Option Certificate (substantially in the form attached at the Appendix to these Rules) setting out the number of Shares under Option, the Exercise Price, Vesting Schedule, the applicable Performance Condition (if any) and anything else that the Board considers appropriate.
The Grantor may grant an Option subject to such Performance Condition (if any) as the Board in its absolute discretion determines, subject to which (save as provided in these Rules) such Option may be Exercised.
Unless otherwise provided in these Rules, an Option or part thereof shall only become Exercisable following the later of the date or dates set out in the Vesting Schedule and (if applicable) the determination by the Board that any Performance Condition has been satisfied or partially satisfied.