Common use of Vesting and Settlement of RSUs Clause in Contracts

Vesting and Settlement of RSUs. The RSU acquired hereunder shall vest in accordance with the provisions of this Article I, Section 1.6 and applicable provisions of the Plan, as follows: • 25% of the RSUs vest on ; • an additional 25% of the RSUs vest on ; • an additional 25% of the RSUs vest on ; and • the final 25% of the RSUs vest on . Notwithstanding the foregoing, no RSU shall vest on any vesting date specified above unless: (A) the Participant is then, and since the Award Date has continuously been, employed or retained by the Company or an Affiliate (subject to Sections 2.2 and 2.3); and (B) the Participant has fulfilled the obligations specified in Section 1.9 below. Upon vesting, each RSU shall entitle Participant to receive one share of Stock (subject to adjustment under the Plan). Vested RSUs shall be settled in shares of Stock (or, in the discretion of the Administrator, in cash equal to the Fair Market Value thereof). Subject to Section 2.12, settlement and delivery of the applicable number of shares of Stock (or cash equivalent, if applicable) shall be made as soon as practicable following vesting, but in no event later than 30 days after the applicable vesting date. No fractional shares of Stock shall be issued pursuant to this Agreement.

Appears in 1 contract

Samples: 2020 Rsu Award Agreement (Entegris Inc)

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Vesting and Settlement of RSUs. The RSU acquired hereunder shall vest in accordance with the provisions of this Article I, Section 1.6 and applicable provisions of the Plan, as follows: • 25% of the RSUs vest on February 19, 2021 • an additional 25% of the RSUs vest on February 19, 2022; • an additional 25% of the RSUs vest on ; • an additional 25% of the RSUs vest on February 19, 2023; and • the final 25% of the RSUs vest on February 19, 2024. Notwithstanding the foregoing, no RSU shall vest on any vesting date specified above unless: (A) the Participant is then, and since the Award Date has continuously been, employed or retained by the Company or an Affiliate (subject to Sections 2.2 and 2.3); and (B) the Participant has fulfilled the obligations specified in Section 1.9 below. Upon vesting, each RSU shall entitle Participant to receive one share of Stock (subject to adjustment under the Plan). Vested RSUs shall be settled in shares of Stock (or, in the discretion of the Administrator, in cash equal to the Fair Market Value thereof). Subject to Section 2.12, settlement and delivery of the applicable number of shares of Stock (or cash equivalent, if applicable) shall be made as soon as practicable following vesting, but in no event later than 30 days after the applicable vesting date. No fractional shares of Stock shall be issued pursuant to this Agreement.

Appears in 1 contract

Samples: 2020 Rsu Award Agreement (Entegris Inc)

Vesting and Settlement of RSUs. The RSU acquired hereunder shall vest in accordance with the provisions of this Article I, Section 1.6 and applicable provisions of the Plan, as follows: • 25% of the RSUs vest on February 19, 2020 • an additional 25% of the RSUs vest on February 19, 2021; • an additional 25% of the RSUs vest on ; • an additional 25% of the RSUs vest on February 19, 2022; and • the final 25% of the RSUs vest on February 19, 2023. -1- Notwithstanding the foregoing, no RSU shall vest on any vesting date specified above unless: (A) the Participant is then, and since the Award Date has continuously been, employed or retained by the Company or an Affiliate its subsidiaries (subject to Sections 2.2 and 2.3); and (B) the Participant has fulfilled the obligations specified in Section 1.9 below. Upon vesting, vesting each RSU shall entitle Participant to receive one share of Stock (subject to adjustment under the Plan)Stock. Vested RSUs shall be settled in shares of Stock (or, in the discretion of the Administrator, in cash equal to the Fair Market Value thereof). Subject to Section 2.12, settlement and delivery of the applicable number of shares of Stock (or cash equivalent, if applicable) shall be made as soon as practicable following vesting, but in no event later than 30 days after the applicable vesting date. No fractional shares of Stock shall be issued pursuant to this Agreement.

Appears in 1 contract

Samples: 2019 Rsu Award Agreement (Entegris Inc)

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Vesting and Settlement of RSUs. The RSU acquired hereunder shall vest in accordance with the provisions of this Article I, Section 1.6 and applicable provisions of the Plan, as follows: • 25% of the RSUs vest on , 2022 • an additional 25% of the RSUs vest on , 2023; • an additional 25% of the RSUs vest on ; • an additional 25% of the RSUs vest on , 2024; and • the final 25% of the RSUs vest on , 2025. Notwithstanding the foregoing, no RSU shall vest on any vesting date specified above unless: (A) the Participant is then, and since the Award Date has continuously been, employed or retained by the Company or an Affiliate (subject to Sections 2.2 and 2.3); and (B) the Participant has fulfilled the obligations specified in Section 1.9 below. Upon vesting, each RSU shall entitle Participant to receive one share of Stock (subject to adjustment under the Plan). Vested RSUs shall be settled in shares of Stock (or, in the discretion of the Administrator, in cash equal to the Fair Market Value thereof). Subject to Section 2.12, settlement and delivery of the applicable number of shares of Stock (or cash equivalent, if applicable) shall be made as soon as practicable following vesting, but in no event later than 30 days after the applicable vesting date. No fractional shares of Stock shall be issued pursuant to this Agreement.

Appears in 1 contract

Samples: Rsu Award Agreement (Entegris Inc)

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