Common use of Vesting of Award Shares Clause in Contracts

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date: 50% Second anniversary of the Closing 50% Third anniversary of the Closing If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon the cessation of the Recipient’s Continuous Service prior to the Vesting Date, the Award Shares shall automatically be forfeited; provided, that if (i) a Change in Control occurs while the Recipient is performing Continuous Service and the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous Service, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicable, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, 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.”

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: (as noted hereon): Vesting Schedule: Percentage Vested: Vesting Continuous Service from Award Date: 0% Less than one (1) year 25% At least one (1) year, but less than two (2) years 50% Second anniversary of the Closing 50At least two (2) years, but less than three (3) years 75% Third anniversary of the Closing At least three (3) years, but less than four (4) years 100% At least four (4) years If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon However, notwithstanding the cessation 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 prior to the Vesting DateService, become fully (100%) vested in the Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if (i) a Change in of Control of the Company occurs while the Recipient is performing Continuous Service and with the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous ServiceCompany, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicableControl, become fully (100%) vested in the 1 Unless otherwise indicated, all capitalized terms used in this Agreement are defined in the Plan as of the Award Date or in the “Definitions” section of EXHIBIT A. EXHIBIT A is incorporated by reference and is included in the definition of “Agreement.” Xxxxxx Validus Mission Critical REIT II, Inc. Restricted Stock Agreement Award Shares. Notwithstanding the foregoing, 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.”

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: (as noted hereon): Vesting Schedule: Schedule Percentage Vested: Vesting Continuous Service from Award Date: 0% Less than one (1) year 25% At least one (1) year, but less than two (2) years 50% Second anniversary of the Closing 50At least two (2) years, but less than three (3) years 75% Third anniversary of the Closing At least three (3) years, but less than four (4) years 100% At least four (4) years If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon However, notwithstanding the cessation 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 prior to the Vesting DateService, become fully (100%) vested in the Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if (i) a Change of Control of the Company occurs 1 Unless otherwise indicated, all capitalized terms used in Control occurs this Agreement are defined in the Plan as of the Award Date or in the "Definitions" section of Exhibit A. Exhibit A is incorporated by reference and is included in the definition of "Agreement." Procaccianti Hotel REIT, Inc. Restricted Stock Agreement while the Recipient is performing Continuous Service and with the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous ServiceCompany, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicableControl, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, 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.”"

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date: 5033.33% First anniversary of the Award Date 33.33% Second anniversary of the Closing 50Award Date 33.33% Third anniversary of the Closing Award Date If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon the cessation of the Recipient’s Continuous Service prior to the Vesting Date, the Award Shares shall automatically be forfeited; provided, that if (i) a Change in Control occurs while the Recipient is performing Continuous Service and the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous Service, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicable, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, 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.”

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: (as noted hereon): Vesting Schedule: Percentage Vested: Vesting Continuous Service from Award Date: 0% Less than one (1) year 25% At least one (1) year, but less than two (2) years 50% Second anniversary of the Closing 50At least two (2) years, but less than three (3) years 75% Third anniversary of the Closing At least three (3) years, but less than four (4) years 100% At least four (4) years If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon However, notwithstanding the cessation 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 prior to the Vesting DateService, become fully (100%) vested in the Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if (i) a Change in of Control of the Company occurs while the Recipient is performing Continuous Service and with the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous ServiceCompany, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicableControl, become fully (100%) vested in the 1 Unless otherwise indicated, all capitalized terms used in this Agreement are defined in the Plan as of the Award Date or in the “Definitions” section of Exhibit A. Exhibit A is incorporated by reference and is included in the definition of “Agreement.” NexPoint Hospitality Trust, Inc. Restricted Stock Award Agreement Award Shares. Notwithstanding the foregoing, 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.”

Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: (as noted hereon): Vesting Schedule: Percentage Vested: Vesting Continuous Service from Award Date: 0% Less than one (1) year 25% At least one (1) year, but less than two (2) years 50% Second anniversary of the Closing 50At least two (2) years, but less than three (3) years 75% Third anniversary of the Closing At least three (3) years, but less than four (4) years 100% At least four (4) years If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon However, notwithstanding the cessation 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 prior to the Vesting DateService, become fully (100%) vested in the Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if (i) a Change in of Control of the Company occurs while the Recipient is performing Continuous Service and with the Award Shares are not assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in a then current employment agreement or offer letter), or (iii) the Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of Continuous ServiceCompany, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of Continuous Service, as applicableControl, become fully (100%) vested in the 1 Unless otherwise indicated, all capitalized terms used in this Agreement are defined in the Plan as of the Award Date or in the “Definitions” section of EXHIBIT A. EXHIBIT A is incorporated by reference and is included in the definition of “Agreement.” NexPoint Multifamily Realty Trust, Inc. Restricted Stock Award Agreement Award Shares. Notwithstanding the foregoing, 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.”