Vesting and exercise of Performance Rights Clause Samples

Vesting and exercise of Performance Rights. (a) Subject to any express Rule to the contrary, a Performance Right will only Vest where the Board determines that each Vesting Condition, and all other relevant conditions advised to the Participant by the Board pursuant to Rule 2.2, have been satisfied or waived in accordance with Rule 12.1(b). (b) On and from Vesting of a Performance Right, a Performance Right may be exercised by the Participant lodging with the Company Secretary: (i) a notice of exercise of that Performance Right in the form attached as Schedule 1 to these Rules; and (ii) (if applicable) the tax file number for the Participant. (c) A Performance Right must be exercised (if at all) no later than the date nominated as the expiry date in the Offer and, subject to Rule 3.3, may only be exercised at any time after the Performance Right has Vested. The Board may determine (in its absolute discretion) any further conditions of exercise consistent with these Rules that apply to a Performance Right. The exercise of only some Performance Rights does not affect the Participant’s right to exercise other Performance Rights at a later time. If the Participant exercises less than all Performance Rights appearing in the holder’s Performance Right statement, then the Company will cause a replacement holding statement to be issued.
View SourceView Similar (3)

Related to Vesting and exercise of Performance Rights

  • Grant of Performance Shares Pursuant to the provisions of (i) the Plan, (ii) the individual Award Agreement governing the grant, and (iii) these Terms and Conditions, the Employee may be entitled to receive Performance Shares. Each Performance Share that becomes payable shall entitle the Employee to receive from the Company one share of the Company's common stock (“Common Stock”) upon the expiration of the Incentive Period, as defined in Section 2, except as provided in Section 13. The actual number of Performance Shares an Employee will receive will be calculated in the manner described in these Terms and Conditions, including Exhibit A, and may be different than the Target Number of Performance Shares set forth in the Award Agreement.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Vesting and Exercise of Option The Option shall vest and become exercisable during its term in accordance with the following provisions: