Common use of Target Performance Clause in Contracts

Target Performance. The “Target Goal” is met when both (i) during the Performance Period, the Closing Price equals or exceeds $67.50 on either (1) five consecutive trading days or (2) ten non-consecutive trading days (such full condition in (i), the “Target Price”) and (ii) Participant continues in service of the Company or an Affiliate as any of an Employee, a Consultant or a Director for the Service Period. Upon achievement of the Target Goal, the Target PRSUs shall vest on the last day of the Service Period.

Appears in 2 contracts

Sources: Performance Restricted Stock Unit Grant Agreement (Arena Pharmaceuticals Inc), Performance Restricted Stock Unit Grant Agreement (Arena Pharmaceuticals Inc)

Target Performance. The “Target Goal” is met when both (i) during the Performance Period, the Closing Price equals or exceeds $67.50 130 on either (1) five consecutive trading days or (2) ten non-consecutive trading days (such full condition in (i), the “Target Price”) and (ii) Participant continues in service of the Company or an Affiliate as any of an Employee, a Consultant or a Director for the Service Period. Upon achievement of the Target Goal, the Target PRSUs shall vest on the last day of the Service Period.

Appears in 1 contract

Sources: Performance Restricted Stock Unit Grant Agreement (Arena Pharmaceuticals Inc)