Percentage Vested. Continuous Service from Award Date: 0% Less than 1 year 331/3 % At least 1 year, but less than 2 years 662/3 % At least 2 years, but less than 3 years 100% At least 3 years If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. For purposes of this Agreement, “Continuous Service” means a period of continuous performance of services by Recipient for the Company or an affiliated company, as determined by the Committee in its sole and absolute discretion. The Award Shares which have become vested pursuant to the Vesting Schedule or due to acceleration as provided for in the Employment Agreement are herein referred to as the “Vested Award Shares” and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the “Unvested Award Shares.”
Percentage Vested. Years of Service (1) (2) (3) (4) (5) (6) (7) / / / / /X / / / / / / / / /
Percentage Vested. Years of Service (1) (2) (3) (4) (5) (6) (7) / / / / /X / / / / / / / / / Less than 1 100% 0 0 0 0 0 ___% 1 0 0 0 0 0 ___% 2 100% 0 20 0 0 ___% 3 100% 40 20 0 ___% 4 60 40 0 ___% 5 80 60 100% ___% 6 100% 80 ___% 7 OR MORE 100% ___%
Percentage Vested. Continuous Service: 0% Less than one (1) year
Percentage Vested. Continuous Service from Award Date: 0.0000% Less than 1 year 33.3333% At least 1 year, but less than 2 years 66.6666% At least 2 years, but less than 3 years 100.0000% At least 3 years If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. However, notwithstanding the foregoing, in the event that the Recipient ceases Continuous Service with the Company (1) by reason of death or Disability, (2) after having attained the age of sixty-five (65), (3) because the Recipient’s employment with the Company has been terminated by the Company without Cause, (4) because the Recipient has terminated employment with the Company for Good Reason, or (5) because the Recipient’s employment contract with the Company (if any) has come to an end and has not been renewed or extended, then the Recipient shall nonetheless immediately, as of the date of such cessation of Continuous Service, become fully (100%) vested in the Award Shares. Furthermore, notwithstanding the foregoing, in the event that a Change in Control of the Company occurs, then the Recipient shall nonetheless immediately, as of the date of such Change in Control, become fully (100%) vested in the Award Shares.
Percentage Vested. Vesting Date: 100% December 31, 2024, or, if earlier, on the 15 month anniversary of the date of a Qualified Event If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. Except as otherwise provided in the Recipient’s employment agreement or offer letter or any severance plan in which the Recipient is a participant at the time of termination, upon the cessation of the Recipient’s Continuous Service prior to the Vesting Date, the Award Shares shall automatically be forfeited; provided, that if a Change of Control of the Company occurs while the Recipient is performing Continuous Service with the Company and the Award Shares are not assumed in connection with the Change of Control, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, the [Board][Company’s Chief Executive Officer] may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. The Award Shares which have become vested pursuant to the vesting schedule or by virtue of such acceleration are herein referred to as the “Vested Award Shares” and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the “Unvested Award Shares.”
