Common use of Vesting of Annual Discretionary Bonus Clause in Contracts

Vesting of Annual Discretionary Bonus. Unless otherwise determined by the Compensation Committee and set forth in the applicable award agreement, any portion of any Annual Bonus that is paid in RSUs under the 2013 Plan will vest in four equal annual installments on each of the first four anniversaries of the applicable grant date; provided, that the Limited Partner must be an Active Individual LP on such vesting date (and must not have provided notice of his intention to become subject to a Withdrawal due to Resignation on or before such date), except as otherwise provided in Section 3(d)(ii)(3). All or any portion of any Annual Bonus may be subject to additional vesting requirements as determined in the discretion of the Compensation Committee. Notwithstanding anything in this Section 2(b)(iv) to the contrary, no portion of any Annual Bonus paid in the form of an equity award or a Deferred Cash Interest award will be subject to a service-based vesting schedule of more than four years from the applicable grant date.

Appears in 3 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

Vesting of Annual Discretionary Bonus. Unless otherwise determined by the Compensation Committee and set forth in the applicable award agreement, any portion of any Annual Bonus that is paid in RSUs a grant of restricted stock units (“RSUs”) under the 2013 Plan will vest in four equal annual installments on each of the first four anniversaries of the applicable grant date; provided, that the Limited Partner Executive must be an Active Individual LP employed by the Company on such vesting date (and must not have resigned or provided notice of his intention to become subject to a Withdrawal due to Resignation resignation on or before such date), except as otherwise provided in Section 3(d)(ii)(3). All or any portion of any Annual Bonus may be subject to additional vesting requirements as determined in the discretion of the Compensation Committee. Notwithstanding anything in this Section 2(b)(iv) to the contrary, no portion of any Annual Bonus paid in the form of an equity award or a Deferred Cash Interest “deferred cash interest” award will be subject to a service-based vesting schedule of more than four years from the applicable grant date.

Appears in 1 contract

Samples: Employment Agreement (Och-Ziff Capital Management Group LLC)