Tranche B Options. All of the Tranche B Options shall become Vested Options and shall become exercisable on the date that the Investor IRR is equal to or exceeds 20% (the “Tranche B Targets”).
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (MPM Silicones, LLC)
Tranche B Options. All of the Tranche B Options shall become Vested Options and shall become exercisable on the earlier of (i) the date that the Investor IRR is equal to or exceeds 20% and (ii) the Investor’s achievement of a minimum cash-on-cash return of 1.75 times the Investor Investment (the targets in subclauses (i) and (ii), the “Tranche B Targets”).
Appears in 1 contract
Sources: Nonqualified Stock Option Agreement (Momentive Performance Materials Inc.)