Vesting of Deferred Stock. Unless otherwise provided in this Agreement or the Plan, the Deferred Stock shall vest in accordance with the following vesting schedule: 331/3% of the total number of shares of Deferred Stock shall vest on the first anniversary of the date of grant, an additional 331/3% of the total number of shares of Deferred Stock shall vest on the second anniversary of the date of grant, and the remaining 331/3% of the total number of shares of Deferred Stock shall vest on the third anniversary of the date of grant. Notwithstanding the foregoing, if the Grantee’s employment is terminated by reason of death or disability (as determined by the Administrator) prior to the vesting of shares of Deferred Stock granted herein, the unvested shares of Deferred Stock held by the Grantee shall become fully vested. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3.
Vesting of Deferred Stock. (a) On the Award Date, the Deferred Stock is not vested and is subject to forfeiture. Subject to Section 2.1(b) below, the Director shall become vested in the Deferred Stock granted to the Director pursuant to Sections 1.1 and 1.2 of this Agreement on the first anniversary of the Award Date, subject to Director’s continued service as an Employee, Director or Consultant of the Company through such date. Unless and until the shares of Deferred Stock have vested in the manner set forth in this Section 2.1, the Director will have no right to any distribution with respect to such Deferred Stock. Any additional shares of Deferred Stock that are granted to the Director pursuant to Section 1.2 as a result of any dividend or other distribution paid or distributed on shares of Common Stock shall also vest on the one year anniversary of the Award Date and, if the additional shares are granted after the one year anniversary of the Award Date, on the date of grant. Subject to Section 2.1(b) below, if the Director’s service to the Company as an Employee, Director or Consultant terminates, the unvested Deferred Stock granted by this Agreement will terminate automatically and thereupon be forfeited without further notice at no cost to the Company. No shares of Common Stock shall be issued or issuable with respect to any Deferred Stock that terminates unvested and is forfeited.
Vesting of Deferred Stock. The Deferred Stock Award will vest according to the following schedule: One hundred percent (100%) of the Deferred Stock Award shall be vested as of the earliest of: (i) the fifth (5th) anniversary of the Vesting Commencement Date; (ii) a Change in Control (as defined in the Plan), in which event the Deferred Stock Award shall be vested immediately prior to the Change in Control; or (iii) the Qualified Retirement (as defined below) of the Director from service as a member of the Company’s Board of Directors or of the board of directors of any successor (the “Board”); provided that during the period between the Vesting Commencement Date and such vesting date the Director continuously serves as a member of the Board.
Vesting of Deferred Stock. (a) Unless otherwise provided in this Agreement or the Plan, the Deferred Stock shall vest in accordance with the following vesting schedule: 33⅓% of the total number of shares of Deferred Stock shall vest on the first anniversary of the date of grant, an additional 33⅓% of the total number of shares of Deferred Stock shall vest on the second anniversary of the date of grant, and the remaining 33⅓% of the total number of shares of Deferred Stock shall vest on the third anniversary of the date of grant. Each anniversary of the date of grant being a “Payment Date”.
Vesting of Deferred Stock. (a) Except as otherwise provided in Subparagraphs 4(b) – 4(g) below, a Participant shall not vest in any shares of Deferred Stock unless both of the following conditions are fully satisfied by such Participant:
Vesting of Deferred Stock. (a) Except as otherwise provided in Subparagraphs 4(b) – 4(g) below, a Participant shall not vest in any shares of Deferred Stock unless the Participant remains an active employee of the Company or any of its parents, subsidiaries or affiliates until February 25, 2008 (the “Maturity Date”).
