Examples of Second Measurement Date in a sentence
For any Excess Cash Measurement Date subsequent to the Second Measurement Date in respect of which there is an Excess Cash Available Amount, starting with December 31, 2032, an amount in Dollars in cash equal to the Applicable Percentage of 60% of the Excess Cash Available Amount shall be payable in cash to Holders.
The PSUs shall expire with respect to any Shares not vested as of the Second Measurement Date.
If the Company is unable to meet or exceed these KPIs on the First Measurement Date or the Second Measurement Date, or voluntarily or involuntary becomes subject to bankruptcy proceedings, Rakuten will have the option to require the Company to redeem the Rakuten Shares at the redemption price of $30 per share (the “Rakuten Redemption Clause”).
The awards comprise three tranches, based on performance measured from January 1, 2022, to the following three measurement dates: • First Measurement Date: December 31, 2023;• Second Measurement Date: December 31, 2024; and• Third Measurement Date: December 31, 2025.
Restricted share unit awards granted under the RSU Plan as a result of achievement of the total shareholder return performance conditions are subject to continued service, with vesting as follows: • Awards granted after the First Measurement Date - 50% vest after one year, 50% vest after three years.• Awards granted after the Second Measurement Date - 50% vest after one year, 50% vest after two years.• RSUs granted after the Third Measurement Date - 100% vest after one year.