Performance Equity Grant definition
Examples of Performance Equity Grant in a sentence
In addition, the Company shall accelerate the vesting of each of Executive’s then-outstanding, Annual Equity Grants (including RSUs and options) that would have vested over the six (6) months following the Termination Date but for the Executive’s Termination; provided, however, that there shall be no accelerated vesting of any Performance Equity Grants, i.e., Annual Performance Equity Grant, Annual Performance Equity ESG Grant, Annual Performance Equity TSR Grant, and 2019 Annual Performance Equity Grant.
The Annual Performance Equity Grant shall be granted to Executive within sixty (60) days of the beginning of each fiscal year during the Executive’s Term, except for Annual Performance Equity Grant for the fiscal year 2022-23.
In addition, the vesting of the Annual Performance Equity Grant is subject to the Company’s achievement of certain milestones as determined by the Board (or its committee) in its sole discretion, from time to time, in consultation with the Executive; and any RSUs that do not vest as a result of the failure of the Company to meet the milestones shall be forfeited.
The Vesting of the 2019 Annual Performance Equity Grant is subject to the Company’s achievement of certain performance milestones as set out in the Infosys Expanded Stock Ownership Program – 2019 and as determined by the Board (or its committee), in its sole discretion, from time to time, in consultation with the Executive.
The RSUs shall vest as soon as practicable, after the Board (or its committee) determines the number of RSUs that will vest under each Annual Performance Equity Grant but in no event later than the 15th day of the 3rd month following the close of the Company’s fiscal year in which such grant was made.
The number of RSUs that will vest under each Annual Performance Equity Grant shall be calculated upon the Executive’s successful completion of each full fiscal year with the Company, the first of which shall conclude on March 31, 2023.
The 2019 Annual Performance Equity Grant shall be granted to Executive within sixty (60) days of the beginning of each fiscal year during the Executive’s Term.
The 2019 Annual Performance Equity Grant shall continue till the expiry of the pool of stock incentives available under the Infosys Expanded Stock Ownership Program – 2019, or until cessation of the Executive’s employment with the Company, whichever is earlier.
However, nothing herein shall supersede the “Infosys Limited 2015 Incentive Compensation Plan.” In this Section, for the Grants specified in sub-sections (iii)(b) and (c), each Annual Performance Equity Grant and each Annual Performance Equity ESG Grant shall vest 12 months from the date of Grant.
To the extent any portion of the Performance Equity Grant remains unvested as of the date of the Executive’s termination of employment for any reason, such portion will be automatically forfeited as of the date of such termination.