Common use of Performance Criterion Clause in Contracts

Performance Criterion. During the Performance Period, the RSUs subject to this Agreement will performance vest based on the “60-Day VWAP” (as defined below) as follows: • 15% of the Base RSUs will performance-vest if the 60-Day VWAP is above $[●]; • an additional 25% of the Base RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 40% of the Target Number of RSUs); • an additional 50% of the Base RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 90% of the Target Number of RSUs); • the remaining 10% of the Base RSUs granted will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 100% of the Target Number of RSUs); • an additional 25% of the RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 125% of the Target Number of RSUs); • an additional 25% of the RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 150% of the Target Number of RSUs); • an additional 25% of the RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 175% of the Target Number of RSUs); and • an additional 25% of the RSUs will performance-vest if the 60-Day VWAP is above $[●] (for an aggregate of 200% of the Target Number of RSUs).

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Ultra Petroleum Corp)

Performance Criterion. During the Performance Period, the RSUs all PSUs subject to this Agreement will performance vest based on the “60-Day VWAP” (as defined below) as follows: • 15% of the Base RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●]5.75; • an additional 25% of the Base RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 8.00 (for an aggregate of 40% of the Target Number of RSUsPSUs); • an additional 5020% of the Base RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 12.00 (for an aggregate of 9060% of the Target Number of RSUsPSUs); • the remaining 10an additional 40% of the Base RSUs Target Number of PSUs granted will performance-vest if the 60-Day VWAP is above $[●] 16.00 (for an aggregate of 100% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 20.00 (for an aggregate of 125% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 24.00 (for an aggregate of 150% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 28.00 (for an aggregate of 175% of the Target Number of RSUsPSUs); and • an additional 25% of the RSUs Target Number of PSUs will performance-vest if the 60-Day VWAP is above $[●] 32.00 (for an aggregate of 200% of the Target Number of RSUsPSUs).

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Ultra Petroleum Corp)

Performance Criterion. During the Performance Period, the RSUs PSUs subject to this Agreement will performance vest based on the “60-Day VWAP” (as defined below) as follows: • 1525% of the Base RSUs PSUs will performance-vest if the 60-Day VWAP is above $[●]2.50; • an additional 25% of the Base RSUs PSUs will performance-vest if the 60-Day VWAP is above $[●] 5.00 (for an aggregate of 4050% of the Target Number of RSUsPSUs); • an additional 5025% of the Base RSUs PSUs will performance-vest if the 60-Day VWAP is above $[●] 7.50 (for an aggregate of 9075% of the Target Number of RSUsPSUs); • the remaining 1025% of the Base RSUs PSUs granted will performance-vest if the 60-Day VWAP is above $[●] 10.00 (for an aggregate of 100% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Supplemental PSUs will performance-vest if the 60-Day VWAP is above $[●] 12.50 (for an aggregate of 125% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Supplemental PSUs will performance-vest if the 60-Day VWAP is above $[●] 15.00 (for an aggregate of 150% of the Target Number of RSUsPSUs); • an additional 25% of the RSUs Supplemental PSUs will performance-vest if the 60-Day VWAP is above $[●] 17.50 (for an aggregate of 175% of the Target Number of RSUsPSUs); and • an additional the remaining 25% of the RSUs Supplemental PSUs will performance-vest if the 60-Day VWAP is above $[●] 20.00 (for an aggregate of 200% of the Target Number of RSUsPSUs).

Appears in 1 contract

Sources: Employment Agreement (Ultra Petroleum Corp)