Vesting of the Restricted Stock. Subject to the terms of this Agreement and the Grantee’s compliance with the provisions set forth in the Restrictive Covenant Agreement attached hereto as Exhibit A (the “Restrictive Covenant Agreement”), the Restricted Stock conditionally vests as follows:
Vesting of the Restricted Stock. (a) Except as otherwise provided in paragraphs 2(b) and 2(c) hereof, the Restricted Stock shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(d) below) by the Stockholder, or (iii) the Stockholder has not died or become permanently disabled: Anniversary Date Cumulative Percentage of of this Agreement Restricted Stock Vested ----------------- ----------------------- First 25% Second 50% Third 75% Fourth 100%
Vesting of the Restricted Stock. If (i) you are continuously employed by the Company from the Grant Date, (ii) the First Trigger, as defined in Exhibit A, is met during your continuous employment, and (iii) one of the events described below occurs after the First Trigger is met and during your continuous employment, then your Restricted Stock will vest and will be transferred to you without restriction to the extent and upon the earlier occurrence of the following:
Vesting of the Restricted Stock. The Restriction Period shall lapse and your Restricted Stock will vest and be transferred to you without restriction on the earlier of (i) the Outside Date or (ii) the day on which an Acceleration Event occurs; provided, however, if your Termination of Employment or Service occurs before the Outside Date or the occurrence of an Acceleration Event, then this Agreement will expire and all of your rights in your Restricted Stock will be forfeited. Rights in the Restricted Stock Until the earlier of the date on which (i) your Restricted Stock vests in accordance with the terms of this Agreement and the Plan or (ii) this Agreement expires, your Restricted Stock will be held in escrow. The Company will defer distribution of any dividends that are declared on your Restricted Stock until the Restricted Stock vests. These dividends will be distributed at the same time your Restricted Stock vests or will be forfeited if your Restricted Stock does not vest. During the Restriction Period, you may vote your Restricted Stock. This is the case even though your Restricted Stock will not be distributed to you unless and until your Restricted Stock vests. Subject to the Company's xxxxxxx xxxxxxx policies and applicable laws and regulations, after you become vested in your Restricted Stock, you shall be free to deal with and dispose of the vested Restricted Stock, and you may request the Company's transfer agent to issue a certificate for such vested Restricted Stock in your name and free of any restrictions. Tax Treatment of the Restricted Stock You should consult with a tax or financial adviser to ensure you fully understand the tax ramifications of your Restricted Stock. This brief discussion of the U.S. federal tax rules that affect your Restricted Stock is provided as general information (not as personal tax advice) and is based on the Company's understanding of U.S. federal tax laws and regulations in effect as of the Grant Date. Article 22 of the Plan further describes the manner in which withholding may occur. You are not required to pay income taxes on your Restricted Stock on the Grant Date. However, you will be required to pay income taxes (at ordinary income tax rates) when, if and to the extent your Restricted Stock vests. The amount of ordinary income you will recognize is the value of your Restricted Stock when it vests. Any appreciation of your Restricted Stock after it vests could be eligible to be taxed at capital gains rates when you sell the common shares...
Vesting of the Restricted Stock. The term “vest” as used herein with respect to any Share of Restricted Stock means the lapsing of the restrictions described herein with respect to such Share. The Restricted Stock shall become vested in accordance with, and subject to the conditions described in, Exhibit A to this Award Agreement. At any time, the portion of the Restricted Stock that has become vested is hereinafter referred to as the “Vested Portion” and any portion of the Restricted Stock that is not a Vested Portion is hereinafter referred to as the “Unvested Portion”.
Vesting of the Restricted Stock. The Restriction Period shall lapse and your Restricted Stock shall vest and be transferred to you without restriction on the earlier of (i) the Outside Date or (ii) the day on which an Acceleration Event occurs; provided, however, if your Employment Terminates before the Outside Date or the occurrence of an Acceleration Event, then this Agreement will expire and all of your rights in your Restricted Stock will be forfeited.
Vesting of the Restricted Stock. (a) The Restricted Stock shall vest in accordance with Schedule I attached hereto, subject to Section 2(b).
Vesting of the Restricted Stock. (a) Except as otherwise provided in paragraph 2(b) hereof, the Restricted Stock with respect to each Stockholder shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(c) below) by the Stockholder, or (iii) the Stockholder has not died or become permanently disabled:
Vesting of the Restricted Stock. The term “vest” as used herein with respect to any share of Restricted Stock means the lapsing of the restrictions described herein with respect to such share. The Restricted Stock shall vest as to []% of the shares of Restricted Stock on [] and as to the remaining []% of the shares in [] equal [] installments thereafter (with the number of shares of Restricted Stock that vest on any date being rounded down to the nearest whole share and the Award becoming vested as to 100% of the shares on []), subject, in each case, to the Participant’s continued Employment through the applicable vesting date. At any time, any portion of the Restricted Stock that is not vested is hereinafter referred to as the “Unvested Portion”.
Vesting of the Restricted Stock. Subject to the Participant’s continued Employment, the Restricted Stock shall become vested and non-forfeitable in two equal installments on each of the first and second anniversaries of the initial public offering of the Company. Notwithstanding any other provision of this Agreement to the contrary, in the event of a Change in Control, the Restricted Stock shall, to the extent not then vested and not previously forfeited, immediately become fully vested and non-forfeitable. Any Shares of Restricted Stock that become vested pursuant to this Section 2 shall hereinafter be referred to as “Vested Restricted Stock.”
