Time Award Sample Clauses
The Time Award clause establishes the conditions under which a party may be granted additional time to fulfill contractual obligations, typically in response to delays beyond their control. In practice, this clause outlines the process for requesting an extension, such as providing notice and supporting evidence of the delay, and specifies the types of events that may justify a time award, like unforeseen site conditions or regulatory changes. Its core function is to fairly allocate the risk of delays, ensuring that parties are not penalized for circumstances outside their control and maintaining clarity in project timelines.
Time Award. The Time Award shall vest in equal installments on each of the first, second, third, fourth and fifth anniversaries of the Date of Grant, such that twenty percent (20%) of the Shares subject to the Time Award shall vest on each such anniversary, subject to the Participant’s continued Service through each applicable vesting date.
Time Award. Twenty-five percent (25%) of the Time Award shall vest on the one (1) year anniversary of August 18, 2011. Seventy-five percent (75%) of the Time Award shall vest in twelve (12) equal quarterly installments beginning on November 18, 2012 (such that six and one quarter percent (6.25%) of the Time Award will vest on each date), subject to the Participant’s continued Service through each applicable vesting date.
Time Award. The Time Award shall vest on a monthly basis over a four-year period commencing on the first day of each calendar month following the Grant Date (each such date, a “Time Vesting Date”), such that 1/48 of the Time Award shall vest on each Time Vesting Date, subject to the Grantee’s continued Service through the applicable Time Vesting Date.
Time Award. Except as otherwise provided in this Section 2, and subject to the Participant’s continued Service through each of the following dates, the Time-Based RSUs shall vest in the following installments on each of the following dates (each a “Vesting Date”): [●] If the number of Time-Based RSUs vesting is a fractional number, the number vesting will be rounded down to the nearest whole number.
Time Award. Twenty percent (20%) of the Time Award shall vest on each of the first five (5) anniversaries of the Date of Grant, such that the Time Award shall be fully vested on the fifth (5th) anniversary of the Date of Grant, subject to the Participant’s continued Service through each applicable vesting date. In the event of a Company Sale, any portion of the Time Award that has not yet vested shall immediately vest effective as of the consummation of such Company Sale, subject to the Participant’s continued Service through the consummation of such Company Sale.
Time Award. The Time Award shall vest in equal installments on each of the first, second, third, fourth and fifth anniversaries of [INSERT THE DATE OF THIS AMENDMENT], such that twenty percent (20%) of the Shares subject to such Time Award shall vest on each such anniversary.
(1) NTD: [X] is intended to be the number of Time Options that had previously vested under the Original Award Agreement. [Y] is intended to be 50% of the total number of options, minus [X].
Time Award. Except as otherwise provided in this Section 3, and subject to the Participant’s continued Service through each of the following dates, the Time Award shall vest in the following installments on each of the following dates:
(i) [●] shares of Restricted Stock shall vest on January 31, 2019;
(ii) [●] shares of Restricted Stock shall vest on January 31, 2020;
(iii) [●] shares of Restricted Stock shall vest on January 31, 2021.