Common use of Unearned Performance Shares Clause in Contracts

Unearned Performance Shares. An unearned performance share is a “phantom” share of common stock of AXA Equitable Holdings, Inc. (the “Company”). That is, although an unearned performance share is not an actual share of Company common stock, an unearned performance share awards you a right to receive a share of Company common stock at the time of settlement of the award provided that: • the unearned performance share is “earned” as described below and • the earned performance share becomes “vested” as described in the Performance Shares Agreement. The unearned performance shares granted to you on February 14, 2019 consist of two distinct tranches: “▇▇▇ Performance Shares” and “TSR Performance Shares.” ▇▇▇ Performance Shares can be earned depending on the Company’s performance against certain targets for its Non-GAAP Operating ▇▇▇ during the ▇▇▇ Performance Period.

Unearned Performance Shares. An unearned performance share is a “phantom” share of common stock of AXA Equitable Holdings, Inc. (the “Company”). That is, although an unearned performance share is not an actual share of Company common stock, an unearned performance share awards you a right to receive a share of Company common stock at the time of settlement of the award provided that: • the unearned performance share is “earned” as described below and • the earned performance share becomes “vested” as described in the Performance Shares Agreement. The unearned performance shares granted to you on February 1426, 2019 2020 consist of two distinct tranches: “▇▇▇ Performance Shares” and “TSR Performance Shares.” ▇▇▇ Performance Shares can be earned depending on the Company’s performance against certain targets for its Adjusted Non-GAAP Operating ▇▇▇ during the ▇▇▇ Performance Period.