Calculation of Earned Shares Sample Clauses
The "Calculation of Earned Shares" clause defines how and when a party becomes entitled to receive shares under an agreement, typically based on meeting certain milestones, time-based vesting, or performance criteria. This clause outlines the specific formula or schedule used to determine the number of shares earned at various points, such as monthly vesting over a four-year period or upon completion of defined project goals. Its core practical function is to ensure transparency and fairness in the allocation of equity, preventing disputes by clearly specifying the conditions under which shares are earned.
Calculation of Earned Shares. As of the Date of G▇▇▇▇ identified above, the Company grants to you, subject to the terms and conditions set forth herein and in the Plan, the opportunity to receive the product of (i) the Eligible Shares and (ii) the "Aggregate Vesting Percentage" as calculated under Section 3, such product the "Earned Shares". If the application of this Section 2(a) results in a fractional Earned Share, the number of Earned Shares shall be rounded up to the nearest whole Share.
Calculation of Earned Shares. The percentage of Award Shares (or such lesser number of Restricted Shares subject to this Agreement as is determined in accordance with Section 2(b)) that become Earned Shares shall be calculated by reference to the following chart. Less than 90% 0 % 90% 40 % 95% 76 % 100% 80 % Greater than or equal to 105% 100 % In calculating the number of Earned Shares, achievement will be linearly interpolated between the percentages set forth in the tables above. Any fractional number of Restricted Shares resulting from the application of the percentages set forth below shall be rounded to the nearest whole number of Restricted Shares, provided, however, that in no event may the number of Earned Shares calculated thereby exceed the number of Award Shares subject to this Agreement.