Vesting during the Period of Restriction Sample Clauses

Vesting during the Period of Restriction. Subject to the terms and conditions of this Agreement and those of the Plan, the Restricted Stock shall vest and no longer be subject to any restriction on the Vest Dates and in the respective amounts vesting on such dates set forth in the Employee Account Records (such period during which restrictions apply is the "Period of Restriction").
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Vesting during the Period of Restriction. Subject to the terms and conditions of this Agreement and those of the Plan, the Period of Restriction applicable to the total number of Shares of Restricted Stock shall commence on the Grant Date and shall lapse with respect to one-third (1/3) of such total number of Shares on February 23, 2011, February 23, 2012 and February 23, 2013, respectively, provided that with respect to each such installment, the Adjusted Pre Tax Net Income (as defined below) for the calendar year ended most recently prior to such date is positive, as certified in writing by the Committee, and provided further that, if the Period of Restriction does not lapse with respect to the February 23, 2011, February 23, 2012 or February 23, 2013 installments by virtue of the Adjusted Pre Tax Net Income for the preceding calendar year having been positive, then the Period of Restriction shall lapse as to such installment or installments on February 23, 2013 if the aggregate Adjusted Pre Tax Net Income for calendar years 2010, 2011 and 2012 is positive, and if, with respect to any such installment the Period of Restriction had not previously lapsed, if such aggregate Adjusted Pre Tax Net Income is not positive, then any such installment or installments shall be forfeited on February 23, 2013. “Adjusted Pre Tax Net Income” shall have the meaning determined in writing by the Committee for purposes of this Agreement within the first ninety (90) days of calendar year 2010.
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Vesting during the Period of Restriction. Subject to the terms and conditions of this Agreement and those of the Plan, the Period of Restriction applicable to the total number of Shares of Restricted Stock shall commence on the Grant Date and shall lapse with respect to one-third (1/3) of such total number of Shares on February 23, 2012, February 23, 2013 and February 23, 2014, respectively, provided that with respect to each such installment, any applicable performance criteria in connection with this Award, determined as provided in paragraph (a) above, shall, at such dates have been met, as certified in writing by the Committee, and provided further that, if the Period of Restriction does not lapse with respect to any of the February 23, 2012, February 23, 2013 or February 23, 2014 installments because the performance criteria were not satisfied for the preceding calendar year, then the Period of Restriction shall lapse as to such installment or installments on February 23, 2014 if the aggregate performance criteria, as established by the Committee, for calendar years 2011, 2012 and 2013 is achieved. If, with respect to any such installment the Period of Restriction had not previously lapsed, if such aggregate performance criteria is not achieved, then any such installment or installments shall be forfeited on February 23, 2014.
Sample 1
Vesting during the Period of Restriction. On February 21, 2012, the Compensation Committee of the Board of Directors of the Company (the “Committee”), by duly adopted resolutions, established certain performance criteria which must be satisfied as set forth in this section (b) with respect to the future scheduled lapse of any Period of Restriction applicable to the shares of Restricted Stock being granted pursuant to this Award (the “Performance Criteria”). Subject to the terms and conditions of this Agreement and those of the Plan, the Period of Restriction applicable to the total number of Shares of Restricted Stock shall commence on the Grant Date and shall lapse with respect to one-third (1/3) of such total number of Shares on February 23, 2013, February 23, 2014 and February 23, 2015, respectively, provided that with respect to each such installment, the Performance Criteria shall at such dates have been satisfied, as certified in writing by the Committee or as reflected in resolutions duly adopted by the Committee, and provided further that, if the Period of Restriction does not lapse with respect to any of the February 23, 2013, February 23, 2014 or February 23, 2015 installments because the Performance Criteria were not satisfied for the preceding calendar year, then the Period of Restriction shall lapse as to such installment or installments on February 23, 2015 if the aggregate Performance Criteria for calendar years 2012, 2013 and 2014 has been satisfied. If, with respect to any such installment the Period of Restriction had not previously lapsed on its scheduled date, if such aggregate Performance Criteria has not been satisfied, then any such installment or installments shall be forfeited on February 23, 2015.
Sample 1

Related to Vesting during the Period of Restriction

  • Period of Restriction (i) The Restricted Stock Units subject to the Award shall be restricted during the period (the “Period of Restriction”) commencing on the Award Date and expiring on the first to occur of:

  • Vesting Schedule/Period of Restriction Except as provided in paragraphs 4 and 5, and subject to paragraph 7, the Performance Shares awarded by this Agreement shall vest in accordance with the vesting provisions set forth on the first page of this Agreement. Performance Shares shall not vest in the Employee in accordance with any of the provisions of this Agreement unless the Employee shall have been continuously employed by the Company or by one of its Subsidiaries from the Grant Date until the date the Performance Shares are otherwise scheduled to vest.

  • Extension of Restriction Period The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

  • Termination of Restrictions Except as set forth in Section 9.3 hereof, the restrictions imposed by this Section 9 upon the transferability of Restricted Securities shall cease and terminate as to any particular Restricted Securities: (a) which shall have been effectively registered under the Securities Act, or (b) when, in the opinions of both counsel for the holder thereof and counsel for the Company, such restrictions are no longer required in order to insure compliance with the Securities Act or Section 10 hereof. Whenever such restrictions shall cease and terminate as to any Restricted Securities, the Holder thereof shall be entitled to receive from the Company, without expense (other than applicable transfer taxes, if any), new securities of like tenor not bearing the applicable legends required by Section 9.1 hereof.

  • Lapse of Restrictions If, for any reason, Shares are issued to the Employee within six months of the Grant Date, the Employee agrees that he or she will not sell or otherwise dispose of any such Shares prior to the six-month anniversary of the Grant Date.

  • Vesting of Restricted Share Units The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the date(s) specified in the following schedule (the “Vesting Date”) so long as the Grantee has served continuously as an employee of the Company or a Subsidiary on such dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1 shall lapse only with respect to the number of Restricted Share Units specified as vested on such date. Incremental Number of Restricted Share Units Vested Vesting Date _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ In determining the number of vested Restricted Share Units at the time of any vesting, the number of Ordinary Shares shall be rounded down to the nearest whole ADS or the nearest increment of 13 Ordinary Shares. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2.

  • Extension of Restricted Period In addition to the remedies the Company may seek and obtain pursuant to Section 8 of this Agreement, the Restricted Period shall be extended by any and all periods during which the Executive shall be found by a court to have been in violation of the covenants contained in Section 7 hereof.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Restriction Period The Restriction Period with respect to each Restricted Stock Unit is the time between the Grant Date and the date such Restricted Stock Unit vests.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

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