Vesting of Clause Samples
The 'Vesting of' clause defines how and when ownership rights to certain assets, such as shares or options, are granted to an individual, typically over a set period or upon meeting specific milestones. In practice, this means that an employee or founder may only gain full rights to their equity after remaining with the company for a predetermined duration or achieving certain performance targets. This clause ensures that recipients are incentivized to contribute to the organization over time and protects the company from losing valuable equity to individuals who depart prematurely.
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Vesting of. Performance Stock Units; Forfeiture of Performance Stock Units.
(a) Vesting
(b) Forfeiture
Vesting of. Stock Option; Forfeiture of Stock Option.
Vesting of. Restricted Stock Units; Forfeiture of Restricted Stock Units.
Vesting of. 25K share options and salary increase to 84k per year upon production levels and sales of concentrate reaching 100 barrels per month
Vesting of the Restricted Stock for a given year shall only occur following certification by the Committee of the achievement of the related performance goal. Future years' performance goals shall be set forth in Addenda to this Agreement, signed by the Company and the Employee. For purposes of this Agreement, "adjusted pre-tax income" is determined based on the Company's audited financial statements as the Company's income before income tax, increased by = (i) the expense incurred for the year for the Performance-Based Annual Incentive Awards to the chief executive officer and chief investment officer, (ii) the expense incurred for the year for Performance-Based Restricted Stock Awards to the chief executive officer and chief investment officer and (iii) the expense incurred for the year for incentive compensation for all of the Company's other employees.
Vesting of. Stock Option; Forfeiture of Stock Option.
(a) Vesting Tranche Scheduled Date Exercisable
(b) Forfeiture
(i) Termination
Vesting of the Options granted to the Executive may be accelerated for the Company achieving the mutually agreed upon financial goals in a lessor time frame. The Incentive Stock Options shall vest in accordance with the vesting schedule contained in EXHIBIT A to the Stock Option Agreement and shall be reviewed annually by the Compensation Committee of the Board.
Vesting of all Options terminates effective with an employee's termination, regardless of the cause of such termination.
Vesting of. SAR Subject to the termination provisions of paragraph 4, the Participant's shares vest upon the date of the grant.
Vesting of. Initial Grants: The Initial Grants will vest as determined in good faith by the Compensation Committee in consultation with the Company’s CEO over a period not exceeding 3 years.