Vesting of Award Shares Sample Clauses


Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares (as noted hereon): If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. However, notwithstanding the foregoing, in the event that the Recipient ceases Continuous Service with the Company (1) by reason of death or Disability, (2) after having attained the age of sixty-five (65), (3) because the Recipient’s employment with the Company has been terminated by the Company without Cause, (4) because the Recipient has terminated employment with the Company for Good Reason, or (5) because the term of the Recipient’s written employment agreement with the Company (if any) has come to an end and has not been renewed or extended, then the Recipient shall nonetheless immediately, as of the date of such cessation of Continuous Service, become fully (100%) vested in the Award Shares. Furthermore, notwithstanding the foregoing, in the event that a Change of Control of the Company occurs while the Recipient is performing Continuous Service with the Company, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the


Vesting of Award Shares. The Award Shares will become vested, and the restrictions set forth in Section 3.1 will lapse in accordance with the vesting schedule set forth in the Award Notice unless an event giving rise to forfeiture of the Award Shares earlier occurs or the vesting is accelerated in accordance with this Agreement or the Plan. When a portion of the Award Shares has become vested, Bancorp will deliver to Participant, upon request, one or more share certificates evidencing the vested portion of the Award Shares, free of the legend described in Section 6(b) of the Plan.

Vesting of Award Shares. Employee shall become vested in the Award Shares as set forth in Schedule I hereto, which is incorporated by reference herein and hereby made a part hereof. References herein to this Agreement shall be deemed to include Schedule I. For purposes of this Agreement, “Continuous Service” means a period of continuous performance of services by Employee for the Company, a parent, or a subsidiary, as determined by the Committee or its designee in its sole and absolute discretion. Notwithstanding the preceding provisions, the Committee may, in its sole discretion, accelerate the vesting of the Shares in whole or in part. The Award Shares that have become vested pursuant to the above provisions are herein referred to as the “Vested Award Shares” and all Award Shares that are not Vested Award Shares are sometimes herein referred to as the “Unvested Award Shares.” Employee acknowledges and agrees that he has been fully advised to consult with his own tax consultants regarding the award of shares described herein.

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below based upon the completed whole years of Continuous Service of the Recipient from the Award Date of the Award Shares (as noted hereon): For all purposes of this Agreement, “Continuous Service” shall mean the period of continuous performance of services by Recipient for the Company, a Parent or a Subsidiary, as determined by the Board in its sole and absolute discretion. If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. However, notwithstanding the foregoing, in the event that the Recipient ceases Continuous Service by reason of death or Disability (which shall mean a physical or mental impairment that substantially limits one or more major life activities and prevents the Recipient from performing his or her duties for the Company), then the Recipient shall nonetheless immediately, as of the date of such cessation of Continuous Service, become fully (100%) vested in the Award Shares. Furthermore, notwithstanding the foregoing, in the event that a Change of Control of the Company occurs while the Recipient is performing Continuous Service, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, the Board of Directors of the Company (the “Board”) may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. The Award Shares which have become vested pursuant to the Vesting Schedule or by virtue of such acceleration are herein referred to as the “Vested Award Shares” and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the “Unvested Award Shares.” 2 Rights as Stockholder; Dividend & Voting Rights. Upon the grant of the Award Shares to Recipient on the Award Date, the Recipient (or any subsequent transferee) shall have all of the rights of a stockholder with respect to such Award Shares, subject to all of the restrictions specified herein, including the right to receive all dividends paid or declared with respect to the Award Shares; provided, however, that in the complete and absolute discretion of the Company, any distributions with respect to an issuance of securities by the Company shall be subject to the restrictions set forth herein. Recipient shall have all voting rights applicable for all Vested and Unvested Award Shares for which the ...

Vesting of Award Shares. The Award Shares shall be 100% vested on the Date of Grant and each subsequent Grant Date. The right to the additional Grants will be subject to the Participant’s continued employment with the Company on each applicable Grant Date. Each of the Additional Grants shall be 100% vested on the Date of Grant.

Vesting of Award Shares. The Award Shares will vest if there is no Termination of Service (as defined in the Plan) prior to each vesting date as follows:_______________________. If only a portion of the Award Shares are released from the restrictions as set forth above and such action would result in the release of a fractional share of Common Stock, the total number of Award Shares that shall vest and be released from the restrictions thereon shall be rounded down to the next lowest number of whole shares of Common Stock, as provided below. When Award Shares have vested, the restrictions on transferability imposed under the last sentence of paragraph 2 and the forfeiture provisions imposed under paragraph 4 shall lapse with respect to such vested Award Shares. Subject to no Termination of Service prior to each vesting date, the Award Shares shall vest as follows:[Vesting provisions inserted] The vesting of Award Shares shall be subject to the payment by Participant of all amounts required to be paid with respect to such Award Shares under paragraph 9 hereof.

Vesting of Award Shares. Except to the extent otherwise expressly provided in any other written agreement between Recipient and the Company executed before the Award Date of this Agreement providing more favorable terms for the Recipient, Recipient shall become vested in the percentage of the Award Shares shown below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares (as noted hereon):


Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below based upon the Continuous Service (as defined below) of the Recipient from the Award Date of the Award Shares (as noted hereon) and subject to the rights and limitations as contained in the Employment Agreement. If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. For purposes of this Agreement, “Continuous Service” means a period of continuous performance of services by Recipient for the Company or an affiliated company, as determined by the Committee in its sole and absolute discretion. The Award Shares which have become vested pursuant to the Vesting Schedule or due to acceleration as provided for in the Employment Agreement are herein referred to as the “Vested Award Shares” and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the “Unvested Award Shares.”

Vesting of Award Shares. Except to the extent otherwise expressly provided in any other written agreement between Recipient and the Company executed before the Award Date of this Agreement providing more favorable terms for the Recipient, Recipient shall become vested in the percentage of the

Vesting of Award Shares. The Award Shares will vest in five increments, and each increment will vest only if both the holding period requirement has been met and the performance target for such increment has been achieved, in each case as specified below. When Award Shares have vested, the restrictions on transferability imposed under the last sentence of paragraph 2 and the forfeiture provisions imposed under paragraph 4 shall lapse with respect to such vested Award Shares.