Common use of Determination of Level of Achievement of Performance Targets Clause in Contracts

Determination of Level of Achievement of Performance Targets. Following the end of each fiscal quarter during the Performance Period, the Committee will determine the level at which the Performance Targets have been achieved, and shall calculate the corresponding number of PSUs that will become earned with respect to each Performance Target in accordance with the terms of this Appendix A. Such determination shall occur as soon as practicable following preparation of the Company’s financial statements related to the applicable fiscal quarter, and the Committee shall approve in writing the extent to which the Performance Targets have been achieved and the corresponding number of PSUs becoming earned based on the level of achievement of each Performance Target (the date of such approval with respect to the applicable fiscal quarter, the “Determination Date”). All determinations with respect to whether and to the extent to which the Performance Targets have been achieved (including calculation of the corresponding number of PSUs that will become earned, if any, with respect to that level of achievement) shall be made by the Committee in its sole discretion.

Appears in 1 contract

Sources: Performance Based Restricted Stock Unit Award Agreement (Blade Air Mobility, Inc.)

Determination of Level of Achievement of Performance Targets. Following the end of each fiscal quarter during the Performance Period, the Committee will determine the level at which the Performance Targets have been achieved, and shall calculate the corresponding number of PSUs that will become earned vest with respect to each Performance Target in accordance with the terms of this Appendix A. chart set forth above. Such determination shall occur as soon as practicable following preparation of the Company’s financial statements related to the applicable fiscal quarter, and the Committee shall approve in writing the extent to which the Performance Targets have been achieved and the corresponding number of PSUs becoming earned vesting based on the level of achievement of each Performance Target (the date of such approval with respect to the applicable fiscal quarter, the “Determination Date”). All determinations with respect to whether and to the extent to which the Performance Targets have been achieved (including calculation of the corresponding number of PSUs that will become earnedvest, if any, with respect to that level of achievement) shall be made by the Committee in its sole discretion.

Appears in 1 contract

Sources: Performance Based Restricted Stock Unit Award Agreement (Blade Air Mobility, Inc.)