Common use of Tranche B Options Clause in Contracts

Tranche B Options. All of the Tranche B Options shall become Vested Options upon the Optionee’s continued employment with the Company or its Subsidiaries through the first date that the Investor achieves an Investor IRR (as determined on a quarterly compounded basis) equal to or in excess of 20%, subject to a minimum cash-on-cash return of 2.5 times the Investor Investment (the “Tranche B Targets”). In the event of a Good Leaver Termination, each unvested Tranche B Option will remain eligible to vest subject to the satisfaction of the Tranche B Targets (without regard to the continued service requirement) until the first anniversary of the date of Termination of Service and all unvested Tranche B Options shall be forfeited at that time. In the event of a Change in Control upon which the Tranche B Targets are achieved, all outstanding unvested Tranche B Options will immediately vest and become Vested Options.