Tranche 2 RSUs definition
Examples of Tranche 2 RSUs in a sentence
The RSUs are separated into two tranches for vesting purposes, the Tranche 1 RSUs (“Tranche 1 RSUs”) and Tranche 2 RSUs (“Tranche 2 RSUs”), in the amounts set forth on the signature page hereto.
Any Tranche 2 RSUs that otherwise would have vested and not been forfeited prior to the IPO Date shall vest on the IPO Date.
Tranche 2 RSUs - In the event of the consummation of a Change in Control of the Company pursuant to which the CIC Price is equal to or exceeds the First Price Target, one-sixth of any then-outstanding Initial Restricted Stock Units which have theretofore not become vested (in addition to those described in the immediately preceding clause (i)) (the “Tranche 2 RSUs”) shall vest in full.
Subject to the remainder of this Section 4, the Tranche 1 RSUs and the Tranche 2 RSUs shall vest on the [ ] anniversary of the Effective Date (the “Vesting Date”) and become payable pursuant to the terms of this Agreement and the Plan based on the achievement of the performance goals set forth below over the [ ] performance period (the “Performance Period”), provided that that the Participant remains in continuous employment with the Company through the Vesting Date.
The Company shall pay ▇▇▇▇▇ the Shares underlying the Tranche 2 RSUs (as defined in the Employment Agreement) on or before May 15, 2014 to the extent the applicable performance goals are satisfied for the year ending February 28, 2014 regardless of ▇▇▇▇▇’▇ continued employment with the Company.
As soon as practicable after the date that the Committee determines the number of Shares subject to Tranche 1 or Tranche 2 that have been earned (and in any event, no later than fifteen business days immediately following such date), the Tranche 1 and Tranche 2 RSUs shall be settled.
Notwithstanding the foregoing, not more than 1/3 of the outstanding unvested Tranche 2 RSUs may vest on the 7-1/2-month anniversary of the IPO Date, not more than 2/3 of such RSUs may vest on the 12-month anniversary, and 100% may vest on the Lock-Up End Date.
Subject to the remainder of this Agreement and the terms of the Plan, the Tranche 2 RSUs shall vest based on the Company’s [ ] for the Performance Period.
In addition, and solely with respect to sales of the Relevant Investor Shares on or before the Lock-Up End Date, only the Total Investor IRR criterion shall be used to determine vesting of the Tranche 2 RSUs.
Earned Tranche 2 RSUs, if any, shall vest, subject to Executive’s continued employment with the Company or ▇▇▇▇▇ of ▇▇▇▇ or its subsidiaries, as follows: (1) 66.7% on upon the Committee’s certification of the attainment of the EBITDA ROIC goals for the Tranche 2 RSUs; and (2) 33.3% on February 28, 2015.