Exercisability of the Option. Except as may otherwise be provided herein, the Option shall become vested and exercisable with respect to twenty five percent (25%) of the Option Shares (rounded to the nearest whole Option Share) on each of the first four anniversaries of the Date of Grant (each such date, a “Vesting Date”), subject to the Participant’s continued employment through the applicable Vesting Date or in the case of terminations of employment due to Retirement as provided in Section 3(a).
Appears in 2 contracts
Samples: Forest Products Equity Incentive Plan (Resolute Forest Products Inc.), Equity Incentive Plan (AbitibiBowater Inc.)
Exercisability of the Option. Except as may otherwise be provided herein, the Option shall become vested and exercisable with respect to twenty five percent (25%) of the Option Shares (rounded to the nearest whole Option Share) on each of the first four anniversaries of the Date of Grant Grant3 (each such date, a “Vesting Date”), subject to the Participant’s continued employment service as a Director through the applicable Vesting Date or in the case of terminations of employment due to Retirement as provided in Section 3(a)Date.
Appears in 1 contract
Exercisability of the Option. Except as may otherwise be provided herein, the Option shall become vested and exercisable with respect to twenty five percent (25%) of the Option Shares (rounded to the nearest whole Option Share) on each of the first four anniversaries of the Date of Grant Grant3 (each such date, a “Vesting Date”), subject to the Participant’s continued employment through the applicable Vesting Date or in the case of terminations of employment due to Retirement as provided in Section 3(a)Date.
Appears in 1 contract
