Vesting and Lapse of Restrictions. Subject to Section 3.1, the Award shall vest in full on the third anniversary of the Award Date (the “Vesting Date”) if the Participant is employed by the Company on such date. If the Participant dies or becomes permanently and totally disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Vesting Date and while the Participant is employed by the Company, the Award shall vest in full upon the date of the Participant’s death or disability.
Appears in 3 contracts
Samples: Restricted Stock Agreement (Parexel International Corp), Restricted Stock Agreement (Parexel International Corp), Restricted Stock Agreement (Parexel International Corp)
Vesting and Lapse of Restrictions. Subject to Section 3.1, the Award shall vest in full on the third anniversary of the Award Date [INSERT DATE] (the “Vesting Date”) if the Participant is employed by the Company on such date. If the Participant dies or becomes permanently and totally disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Vesting Date and while the Participant is employed by the Company, the Award shall vest in full upon the date of the Participant’s death or disability.
Appears in 1 contract
Samples: Restricted Stock Agreement (Parexel International Corp)
