Common use of Effect of a Qualifying Termination Prior to Final Measurement Date and Prior to a Change in Control Clause in Contracts

Effect of a Qualifying Termination Prior to Final Measurement Date and Prior to a Change in Control. In the event of Participant’s Qualifying Termination prior to the Final Measurement Date and prior to a Change in Control, on the date of Participant’s termination of Service, Participant shall vest in such number of Shares as is equal to (i) the Maximum Shares set forth in the Grant Notice, multiplied by (ii) if the FFO Performance Period has been completed prior to the date of such Change in Control only, the FFO Performance Multiplier plus 10% (but not to exceed 150%), multiplied by (iii) one-third (1/3), multiplied by (iv) the number of TSR Performance Periods that have not yet been completed prior to the date of such termination of Service. In addition, if Participant’s Qualifying Termination occurs following the occurrence of any Measurement Date but prior to the corresponding Determination Date, Participant shall also remain eligible to vest on such Determination Date in such number of Shares as is determined pursuant to this Section 1 for such completed TSR Performance Period.

Appears in 2 contracts

Sources: Restricted Stock Award Agreement (American Assets Trust, L.P.), Restricted Stock Award Agreement (American Assets Trust, L.P.)

Effect of a Qualifying Termination Prior to Final Measurement Date and Prior to a Change in Control. In the event of Participant’s Qualifying Termination prior to the Final Measurement Date and prior to a Change in Control, on the date of Participant’s termination of Service, Participant shall vest in such number of Shares as is equal to (i) the Maximum Shares set forth in the Grant Notice, multiplied by (ii) (A) if the FFO Performance Period has been completed prior to the date of such Change in Control only, the FFO Performance Multiplier plus 1020% (but not to exceed 150%), or (B) if the FFO Performance Period has not yet been completed prior to the date of such Change in Control, 100%, multiplied by (iii) one-third (1/3), multiplied by (iv) the number of TSR Performance Periods that have not yet been completed prior to the date of such termination of Service. In addition, if Participant’s Qualifying Termination occurs following the occurrence of any Measurement Date but prior to the corresponding Determination Date, Participant shall also remain eligible to vest on such Determination Date in such number of Shares as is determined pursuant to this Section 1 for such completed TSR Performance Period.

Appears in 1 contract

Sources: Restricted Stock Award Agreement (American Assets Trust, L.P.)

Effect of a Qualifying Termination Prior to Final Measurement Date and Prior to a Change in Control. In the event of Participant’s Qualifying Termination prior to the Final Measurement Date and prior to a Change in Control, on the date of Participant’s 's termination of Service, Participant shall vest in such number of Shares as is equal to (i) the Maximum Shares set forth in the Grant Notice, multiplied by (ii) if the FFO Performance Period has been completed prior to the date of such Change in Control only, the FFO Performance Multiplier plus 10% (but not to exceed 150%), multiplied by (iii) one-third (1/3), multiplied by (iv) the number of TSR Performance Periods that have not yet been completed prior to the date of such termination of Service. In addition, if Participant’s Qualifying Termination occurs following the occurrence of any Measurement Date but prior to the corresponding Determination Date, Participant shall also remain eligible to vest on such Determination Date in such number of Shares as is determined pursuant to this Section 1 for such completed TSR Performance Period.

Appears in 1 contract

Sources: Restricted Stock Award Agreement (American Assets Trust, L.P.)