Examples of Eligible RSUs in a sentence
Upon a Change in Control the Performance Period shall terminate and the number of Vesting Eligible RSUs shall equal the greater of (1) the Target Award and (2) the number of RSUs that would be Vesting Eligible RSUs applying the formula in Section 1 based on actual performance through the Change in Control; provided that if the Company’s TSR as of the date of the Change in Control is negative, the Vesting Eligible RSUs shall not exceed the Target Award.
The CCBC Board intends to grant the Relevant CCBC Eligible RSUs to the Relevant CCBC Executives at any time on or before 31 December 2014 after the Independent Shareholders have approved the Relevant CCBC Eligible RSUs.
The percentage of Performance Period Target RSUs with respect to a Performance Period that become Eligible RSUs (if any) will be determined by the percentage derived from the table below, which percentage depends on the percentile ranking of the Company’s TSR in relation to the TSR of each of the Benchmark Companies (the “TSR Performance Multiplier”).
First Vesting Eligible RSUs + the Second Vesting Eligible RSUs, but in no event will the Vesting Eligible RSUs exceed the Target Award if the TSR for the Performance Period is zero or negative.
Vested Eligible RSUs (as defined below) will vest on the date of the closing of the merger or Change in Control.
All RSUs that do not become Vesting Eligible RSUs will be forfeited.
Any Restricted Stock Units that become eligible to vest after satisfaction of the applicable TSR goals with respect to a Performance Period are referred to herein as the “Eligible RSUs.” A specified number of Restricted Stock Units may become Eligible RSUs as a result of the attainment of TSR goals during each Performance Period (the target number of Restricted Stock Units with respect to a specific Performance Period, the “Performance Period Target RSUs”).
Unless otherwise provided in Exhibit A, the RSUs shall be forfeited upon the Holder’s Termination of Service with the Company or if Holder violates the Confidential Information & Protective Covenants Agreement prior to the Vesting Date, whether or not such RSUs were otherwise Vesting Eligible RSUs.
Provided, however, if the Company’s TSR as of the date of the Qualifying Termination is negative, the Vesting Eligible RSUs shall not exceed the Target Award.3. Change in Control.
All RSUs that do not become Vesting Eligible RSUs shall be forfeited.