Common use of Participant Clause in Contracts

Participant. s Stock Units and rights in and to the Common Shares subject to the Stock Units shall not be vested as of the Grant Date and shall be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. Subject to Participant’s continued employment with the Company and/or its subsidiaries or affiliates the Award (or as otherwise provided in Paragraph 5) shall become vested in accordance with the following schedule: (i) one-third of the Stock Units subject to the Award shall vest on the date that is thirteen (13) months following the Grant Date, (ii) one-third of the Stock Units subject to the Award shall vest on the second anniversary of the Grant Date, and (iii) the remaining one-third of the Stock Units subject to the Award shall vest on third anniversary of the Grant Date (each such date a “Vesting Date”). Stock Units that have vested and are no longer subject to forfeiture are referred to herein as “Vested Units.” Stock Units that are not vested and remain subject to forfeiture are referred to herein as “Unvested Units.”

Appears in 15 contracts

Samples: Stock Unit Award Agreement (Herbalife Ltd.), Stock Unit Award Agreement (Herbalife Ltd.), Stock Unit Award Agreement (Herbalife Ltd.)

AutoNDA by SimpleDocs

Participant. s Stock Units and rights in and to the Common Shares subject to the Stock Units shall not be vested as of the Grant Date and shall be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. Subject to Participant’s continued employment with the Company and/or its subsidiaries or affiliates the Award (or as otherwise provided in Paragraph 5) shall become vested in accordance with the following schedule: (i) one-third thirty percent (30%) of the Stock Units subject to the Award shall vest on the date that is thirteen (13) months following first anniversary of the Grant Date, (ii) one-third thirty percent (30%) of the Stock Units subject to the Award shall vest on the second anniversary of the Grant Date, and (iii) the remaining one-third thirty percent (30%) of the Stock Units subject to the Award shall vest on the third anniversary of the Grant Date, and (iv) the remaining ten percent (10%) of the Stock Units subject to the Award shall vest on the fourth anniversary of the Grant Date (each such date a “Vesting Date”). Stock Units that have vested and are no longer subject to forfeiture are referred to herein as “Vested Units.” Stock Units that are not vested and remain subject to forfeiture are referred to herein as “Unvested Units.”

Appears in 6 contracts

Samples: Employment Agreement (Herbalife Nutrition Ltd.), Employment Agreement (Herbalife Ltd.), Stock Unit Award Agreement (Herbalife Ltd.)

Participant. s Stock Units and rights in and to the Common Shares subject to the Stock Units shall not be vested as of the Grant Date and shall be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. Subject to Participant’s continued employment with the Company and/or its subsidiaries or affiliates the Award (or as otherwise provided in Paragraph 5) shall become vested in accordance with the following schedule: (i) one-third twenty percent (20%) of the Stock Units subject to the Award shall vest on the date that is thirteen (13) months following first anniversary of the Grant Date, (ii) one-third twenty percent (20%) of the Stock Units subject to the Award shall vest on the second anniversary of the Grant Date, and (iii) the remaining one-third sixty percent (60%) of the Stock Units subject to the Award shall vest on third anniversary of the Grant Date (each such date a “Vesting Date”). Stock Units that have vested and are no longer subject to forfeiture are referred to herein as “Vested Units.” Stock Units that are not vested and remain subject to forfeiture are referred to herein as “Unvested Units.”

Appears in 1 contract

Samples: Stock Unit Award Agreement (Herbalife Ltd.)

AutoNDA by SimpleDocs

Participant. s Stock Units and rights in and to the Common Shares subject to the Stock Units shall not be vested as of the Grant Date and shall be forfeitable unless and until otherwise vested pursuant to the terms of this Agreement. Subject to Participant’s continued employment with the Company and/or its subsidiaries or affiliates the Award (or as otherwise provided in Paragraph 5) shall become vested in accordance with the following schedule: (i) if the Company achieves the performance goal set forth on Exhibit A attached hereto, one-third of the Stock Units subject to the Award shall vest on each of the date that is thirteen (13) months following first three anniversaries of the Grant Date, and (ii) one-third if the Company fails to achieve the performance goal set forth on Exhibit A attached hereto, 100% of the Stock Units subject to the Award shall vest on the second anniversary of the Grant Date, and (iii) the remaining one-third of the Stock Units subject to the Award shall vest on third anniversary of the Grant Date (each such date date, a “Vesting Date”). Stock Units that have vested and are no longer subject to forfeiture are referred to herein as “Vested Units.” Stock Units that are not vested and remain subject to forfeiture are referred to herein as “Unvested Units.”

Appears in 1 contract

Samples: Stock Unit Award Agreement (Herbalife Ltd.)

Time is Money Join Law Insider Premium to draft better contracts faster.