Examples of Performance Condition in a sentence
Subject to the remainder of Rule 3 and Rules 6 and 7 and to the satisfaction of any Performance Condition attaching to an Award, the relevant Vesting Portion of an Award (provided it is not a Provisional Allocation) and any Dividend Shares (if applicable) shall Vest in accordance with Rule 4 on the Vesting Date.
For any Tranche of the Options that has satisfied the Performance Condition and becomes earned, the Service Condition applicable to such Tranche shall be satisfied and such Tranche of Options shall become vested in equal annual installments on each of the first three anniversaries of the Performance Achievement Date for such Tranche, subject in each case to the Participant’s continuous employment with the Company through each such vesting date.
Notwithstanding anything to the contrary herein, if the Transaction Price Per Share is less than the Price Hurdle applicable to any Tranche for which the Performance Condition remains unsatisfied as of the date of such Change in Control, such Tranche of Options shall be forfeited and canceled in their entirety without any payment to Participant.
In the event of an equity restructuring, the Committee shall adjust any Performance Condition to the extent it is affected by such restructuring in order to preserve (without enlarging) the likelihood that such Performance Condition shall be satisfied.
All determinations with respect to whether and the extent to which a Performance Condition has been achieved shall be made by the Committee in its sole discretion and the applicable Performance Conditions shall not be achieved and the applicable Performance Vesting RSUs shall not become Earned RSUs until the Committee certifies in writing the extent to which such Performance Conditions have been met.