Vesting Conditions Contract Clauses (39)

Vesting Conditions. Subject to attainment of the performance conditions set forth below, the Participant's right to receive the Shares covered by this Agreement shall become vested in three equal annual installments on each of June 15, 2019, 2020 and 2021, subject to the Participant's continuous employment or other service with the Company through the applicable vesting date. The Participant shall have no right to receive any Shares under this Agreement unless and until both of the following performance conditions ...shall have been attained: (a) First Performance Condition. The first performance condition is satisfied if during any period of twenty consecutive trading days beginning on the Effective Date and ending on or before April 30, 2020, the average closing price per share of the Company's common stock on the Nasdaq Global Select Market is at least $41.78. (b) Second Performance Condition. The second performance condition is satisfied if the performance condition in either (b)(1) or (b)(2) is satisfied: (1) (i) the amount of the Company's consolidated earnings before interest and financing charges, net, and income tax expense and including pretax equity gain (loss) in unconsolidated affiliates of the Company ("EBIT") for the fiscal year ending January 31, 2019, subject to certain adjustments (the "Adjustments") for non-recurring items as set forth in the minutes of the meeting of the Committee approving (the "Approval") the grant subject to this Agreement, is at least 10% greater than the amount of EBIT for the fiscal year ending January 31, 2018, subject to the Adjustments ("Fiscal 2018 EBIT") or (ii) if the performance criteria in clause (i) is not satisfied, EBIT for the fiscal year ending January 31, 2020, subject to the Adjustments, is at least 20% greater than Fiscal 2018 EBIT or (2) during any period of forty consecutive trading days beginning on the Effective Date and ending on or before January 31, 2020, the average closing price per share of the Company's common stock on the Nasdaq Global Select Market is at least $45.4125. All determinations with respect to the satisfaction of both performance criteria shall be made by the Committee and shall be in accordance with the terms set forth in the Approval. For the avoidance of doubt, the time-based vesting percentages will be cumulative prior to the attainment of both performance conditions, such that, if the performance conditions are attained and the Participant is then still in the continuous employ or service of the Company, then, upon the attainment of both performance conditions, the Participant's vested percentage in the Shares covered by the award will be equal to the vested percentage that would have been earned as of the date the performance conditions are attained if vesting had been determined as of that date solely in accordance with the above time-based vesting schedule. Such Shares will be issued and delivered in certificated or electronic form as soon as practicable (but not more than 60 days) after the applicable RSU vesting date, subject to any applicable tax withholding and other conditions set forth in the Plan, this Agreement and/or applicable law. View More

Vesting Conditions. Except as otherwise provided below in Section 4 or elsewhere in this Restricted Stock Unit Agreement, the Adjusted Grant shall vest . Vesting on any such date is subject to the Participant's continued service with the Company through such date and subject to the other terms of this Restricted Stock Unit Agreement.

Found in Sonic Automotive, Inc. contract

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Vesting Conditions. Except as otherwise provided below in Section 4 or elsewhere in this Restricted Stock Unit Agreement, the Adjusted Grant shall vest . Vesting on any such date is subject to the Participant's continued service with the Company and its Subsidiaries through such date and subject to the other terms of this Restricted Stock Unit Agreement.

Found in Sonic Automotive, Inc. contract

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Vesting Conditions. Except as provided in Section 8, the vesting of your PSUs is dependent upon (a) the average annual rate of return on equity that the Corporation achieves during the Performance Period, and (b) your continuous and uninterrupted employment with your Employer through the Vesting Date.

Vesting Conditions. Subject to attainment of the performance condition set forth below, the Grantee's right to receive the Shares covered by this Agreement shall become vested on April 12, 2019 subject to the Grantee's continuous employment or other service with the Company through the applicable vesting date. The Grantee shall have no right to receive any Shares under this Agreement unless the following performance condition shall have been attained: During any period of twenty consecutive trading days beginning o...n the Effective Date and ending on April 12, 2019, the average closing price per share of the Company's common stock on the Nasdaq Global Select Market is at least $65.17. View More