Initial Restricted Stock Sample Clauses

Initial Restricted Stock. Effective as of the Commencement Date, the Executive will also be granted an award of restricted stock units equivalent in value to 30,000 shares of common stock of the Company (the “Initial Restricted Stock Units”). The Initial Restricted Stock Units shall not be vested as of the Commencement Date and shall be subject to forfeiture in the event of termination of the Executive’s employment with the Company until it becomes vested in accordance with this Section III-C-2. The Initial Restricted Stock Units shall become vested in three equal annual installments of 10,000 shares on each of the first three anniversaries of the Commencement Date, subject to the Executive’s continued employment with the Company through each such date. The Initial Restricted Stock Units shall be evidenced by a Restricted Stock Unit Award Agreement to be entered into between the Company and the Executive, which agreement shall reflect the terms of the Initial Restricted Stock Units as set forth in this Agreement and such additional terms established by the Company consistent with the terms of similar awards made to other senior executives of the Company and not inconsistent with the terms of this Agreement.
Sample 1
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Initial Restricted Stock. On the Effective Date, Cosi shall grant to Mr. Hyatt 275,000 restricted shares of Common Stock, (the "Inixxxx Xxxxricted Stock"), pursuant to the LTIP, subject to the terms and conditions set forth in Section 8 below and any additional terms and conditions prescribed by the Compensation Committee in the Initial Restricted Stock Award Agreement.
Sample 1
Initial Restricted Stock. Subject to the terms and conditions set forth in this Agreement, the LTIP, and the Initial Restricted Stock Award Agreement:
Sample 1
Initial Restricted Stock. As of the Effective Date, Executive will be granted restricted stock awards (the "Initial Restricted Stock Awards") as follows: (i) under the LTIP, a restricted stock award of 205,488 shares of RRI Common Stock and (ii), under the REI LTIP, a REI restricted stock award with respect to a number of shares of REI Common Stock determined by taking the product of (A) 205,488 and (B) the RRI Common Stock closing market price on the Effective Date, divided by (C) the REI Common Stock closing market price on the Effective Date. These two Initial Restricted Stock Awards shall be tandem stock awards, meaning that the Executive must elect at the time hereinafter provided to receive one or the other, and the choice of the RRI Common Stock award cancels the related or companion REI Common Stock award and vice-versa. Executive must choose which stock award to keep at Distribution and forfeit the other. If Distribution does not occur, Executive shall choose at time of vesting. The Initial Restricted Stock Award denominated in REI Common Stock will become a CenterPoint Stock Award which will be adjusted at Distribution as necessary to account for the decrease in the value of such award as a result of the Distribution and such adjustment will be made in the same manner as similar REI awards made after May 4, 2001. So long as Executive remains continuously employed by the Company, these Initial Restricted Stock Awards shall become vested 66 2/3% on July 29, 2004 and 33 1/3% on July 29, 2005 (unless accelerated pursuant to the LTIP, the REI LTIP or another provision of this Agreement) such that the Initial Restricted Stock Awards shall become 100% vested on July 29, 2005. Regardless of the above, if Distribution occurs prior to July 29, 2004, then 33 1/3% of the Initial Restricted Stock Award retained by Executive will have the vesting accelerated from July 29, 2004 to the later of July 29, 2003 or the date of Distribution. The remaining vesting schedule would be 33 1/3% on July 29, 2004 and 33 1/3% on July 29, 2005. The Initial Restricted Stock Awards will be evidenced in the same manner as all other time-based restricted stock grants to executive employees under the LTIP or REI LTIP to the extent that the terms of such grant agreements are not inconsistent with and not less favorable to Executive than the provisions of this Agreement and (i) in the case of a termination under Section 4.A., 4.B., 4.C., 4.D.(iv) or 4.E., Executive shall be 100% vested and (ii) in the case of...
Sample 1
Initial Restricted Stock. Cosi shall grant to Mx. Xxxxxxxxx 300,000 shares of Cosi’s authorized but unissued common stock, $0.01 par value, (the “Initial Restricted Stock”), pursuant to the Cosi, Inc. 2005 Long-Term Incentive Plan (“LTIP”). The grant of Initial Restricted Stock shall be awarded to Mx. Xxxxxxxxx on May 9, 2005, pursuant to the LTIP, subject to the terms and conditions of Section 7 of this Agreement and further subject to any additional terms and conditions prescribed by the Compensation Committee in the Initial Restricted Stock Award Agreement.
Sample 1
Initial Restricted Stock. You and the Company hereby acknowledge that pursuant to the terms of the Original Letter, as of the date of the closing of the initial public offering of shares of the REIT’s common stock (the “IPO Date”), the REIT granted you a number of shares of the REIT’s common stock (the “Initial Restricted Stock”) equal to the quotient obtained by dividing (x) $250,000 by (y) the initial public offering price of a share of the REIT’s common stock. The Initial Restricted Stock was granted to you under the Amended and Restated 2003 Incentive Award Plan of Xxxxxxx Properties, Inc., Xxxxxxx Properties Services, Inc. and Xxxxxxx Properties, L.P. (the “Incentive Plan”) at a per share purchase price of $0.01 per share and was vested in full as of the IPO Date. The terms and conditions of the Initial Restricted Stock are set forth in a Restricted Stock Agreement, dated June 27, 2003, between you and the REIT.
Sample 1
Initial Restricted Stock. As soon as practicable following the Employment Commencement Date, Executive shall purchase five hundred thousand (500,000) shares of Company common stock at a purchase price of $0.01 per share (the "Initial Restricted Stock"). The Initial Restricted Stock shall vest (i.e., the Company's right to repurchase the Initial Restricted Stock at its original purchase price shall lapse) as to one hundred twenty-five thousand (125,000) shares subject to the Initial Restricted Stock grant each year thereafter through May, 10, 2003, conditioned upon Executive's continued employment or consulting relationship with the Company on such dates. The Initial Restricted Stock shall be subject to the terms and conditions of the Initial Restricted Stock purchase agreement dated May 10, 1999 by and between Executive and the Company (the "Initial Restricted Stock Purchase Agreement"), which is incorporated herein by reference. The Initial Restricted Stock shall be registered by the Company on Form S-8 prior to the date of purchase.
Sample 1
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Related to Initial Restricted Stock

  • Stock Options; Restricted Stock The foregoing benefits are intended to be in addition to the value of any options to acquire Common Stock of the Company, the exercisability of which is accelerated pursuant to the terms of any stock option agreement, any restricted stock the vesting of which is accelerated pursuant to the terms of the restricted stock agreement, and any other incentive or similar plan heretofore or hereafter adopted by the Company.

  • Grant of Restricted Stock Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Board of Directors hereby grants to the Participant 2,500 restricted shares (the “Restricted Stock”) of common stock of the Company, par value $0.01 per share (“Common Stock”).

  • Grant of Restricted Shares (a) The Company hereby grants to the Grantee an award (the “Award”) of shares of Common Stock of the Company (the “Shares” or the “Restricted Shares”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan.

  • Grant of Restricted Stock Award The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of, and delivered to, the Participant. Notwithstanding the foregoing, the Company may in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards. If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.

  • Grant of Restricted Stock Units The Corporation hereby awards to Participant, as of the Award Date, restricted stock units under the Plan. The number of shares of Common Stock underlying the awarded restricted stock units and the applicable service vesting requirements for those units and the underlying Shares are set forth in the Award Notice. The remaining terms and conditions governing the Award shall be as set forth in this Agreement.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Grant of Restricted Share Units The Company hereby grants to the Participant [ ].00 restricted share units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan.

  • Stock Options and Restricted Stock (a) Upon termination of the Executive’s employment with the Employer without Cause or as a result of a Constructive Termination without Cause, all restrictions on any Equity Award granted or issued by the Employer or any of the Participating Subsidiaries to the Employee after the Effective Date, including any transferability or vesting restrictions, immediately shall lapse. The Executive additionally shall have the immediate right to exercise any Employer stock options in full (without regard to any restriction on the underlying stock, and whether granted under this Agreement or otherwise), whether or not any such option is fully exercisable on the date of termination, for the remainder of the original full maximum term of each such stock option. In addition, in the event that the Executive’s employment is terminated for any reason within one (1) year following the consummation of a Change in Control (including, without limitation, the date of the consummation) then the Executive shall be entitled, at the Executive’s option and without the preclusion or reduction of any benefit otherwise available to him under this Agreement (pursuant to Section 12.6 or otherwise), to exercise all options granted previously to the Executive during the longest period permissible under the terms of the plan under which such options were issued from the Change in Control Closing Date, and additionally to freely transfer any options held, directly or indirectly, by the Executive as of the Change in Control Closing Date.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Settlement of Restricted Stock Units 6.1 Subject to Section 9 hereof, promptly following the vesting date, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

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