Vesting of Restricted Stock Units. The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ The Administrator may at any time accelerate the vesting schedule specified in this Section 2.
Vesting of Restricted Stock Units. Subject to the terms and conditions set forth in the Plan and this Agreement, the Restricted Stock Units shall vest as follows:
Vesting of Restricted Stock Units. The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee maintains a Business Relationship with the Company (as defined below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 of this Agreement shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date.
Vesting of Restricted Stock Units. If indicated at the top of this Agreement, vesting of Restricted Stock Units is subject to the Grantee’s continued Service Relationship over time. If not indicated, then the all of the Total Number of Restricted Stock Units shall be vested as of the Grant Date. The vesting of the Total Number of Restricted Stock Units shall begin as of the Vesting Commencement Date and the Restricted Stock Units will vest pro rata over the Vesting Period, in equal regular installments on the Vesting Installment Frequency, until all Restricted Stock Units shall have vested as of the end of the Vesting Period. However, no Restricted Stock Units shall vest until the Cliff Period, if any, has expired, and a pro rata number of Restricted Stock Units shall be vested upon the expiration of the Cliff Period. Vesting of the Restricted Stock Units shall cease upon the termination of the Grantee’s continuous Service Relationship and all unvested Restricted Stock Units shall be forfeited without consideration in the event of the cessation of a Service Relationship between the Company and the Grantee. Any unvested Restricted Stock Units will automatically vest upon a Settlement Event, subject in each case to the Grantee’s continued Service Relationship until a Settlement Event occurs.
Vesting of Restricted Stock Units. (a) During the Participant’s continuous employment with the Company, the Restricted Stock Units will vest in accordance with the following vesting schedule:
Vesting of Restricted Stock Units. The Restricted Stock Units shall vest in accordance with the schedule set forth below, provided in each case that the Grantee is then, and since the Grant Date has continuously remained, in a service relationship (in the capacity of an employee, officer, director or consultant) with the Company or its Subsidiaries. Incremental (Aggregate) Number of Restricted Stock Units Vested Vesting Date 50% December 1, 2008 50% March 1, 2009
Vesting of Restricted Stock Units. The Restricted Stock Units will vest according to the following schedule: General The number of Restricted Stock Units that will become eligible for vesting as set forth below will depend upon the Company’s Adjusted Operating Income (or “AOI”) (as defined below) for the Performance Period (as defined below) and will be determined in accordance with this Agreement. The “Performance Period” will begin on the first day of the Company’s 2020 fiscal year (the “Commencement Date”) and end on the last day of the Company’s 2022 fiscal year (the “Anniversary Date”). Notwithstanding the foregoing, in the event of a Change in Control, or in the event Participant’s continuous Service is terminated due to Participant’s death or Permanent Disability (a “Qualifying Termination”), the Performance Period will be deemed to end upon the first to occur of the consummation of the Change in Control (the “Closing”) or the date of the Qualifying Termination for purposes of calculating the Company’s Adjusted Operating Income. The first to occur of the Anniversary Date, the Closing, or a Qualifying Termination, is referred to herein as the “Period End Date.” If Participant’s continuous Service terminates prior to the Period End Date due to his or her Retirement, Participant’s Restricted Stock Units will remain outstanding through the Period End Date and the number of 1 This should be 50% of the total Target Number of Restricted Stock Units 2 This should be 200% of the above Target Number of Restricted Stock Units Restricted Stock Units that become Eligible Restricted Stock Units (as defined below) will be measured as if Participant’s continuous Service had not terminated. If Participant’s continuous Service terminates prior to the Period End Date for any reason (other than as a result of a Qualifying Termination or due to Participant’s Retirement), the Restricted Stock Units will terminate and be cancelled and Participant will have no further rights with respect to such Restricted Stock Units. Any Restricted Stock Units that do not become Eligible Restricted Stock Units as of the Period End Date will terminate and be cancelled and Participant will have no further rights with respect to such Restricted Stock Units. Lastly, vesting is subject to Participant’s continuous Service through the applicable vesting date, subject to the vesting acceleration provisions set forth below.
Vesting of Restricted Stock Units. Subject to Paragraph 8, below, the RSUs shall vest upon the earliest to occur of the following dates (such date, the “Vesting Date”), provided Grantee remains in Service (defined in Paragraph 10, below) through such date:
Vesting of Restricted Stock Units. The restrictions and conditions in Section 2 of this Agreement shall lapse on up to one third (1/3) of the Restricted Stock Units following each of the Company’s three succeeding fiscal years commencing with the fiscal year in which this Award was granted (each, a “Fiscal Year”) on the date (the “Vesting Date”) on which the Committee makes a determination that the Company has achieved the Performance Measure (as defined below) target amount established by the Committee for such Fiscal Year, provided that the Grantee is an employee of the Company or a Subsidiary on such Vesting Date. The actual number of Restricted Stock Units that will vest on a particular Vesting Date will depend on the percentage of the Performance Measure target amount the Company achieved for the previous Fiscal Year based on the following percentage thresholds: If this % of the Performance Measure is achieved (without rounding): This % of one third (1/3) of the restricted stock units will become vested on the Vesting Date: Less than 101% 0.00% 101% 10% 102% 20% 103% 30% 104% 40% 105% 50% 106% 60% 107% 70% 108% 80% 109% 90% 110% 100% For purposes of this Section 3, the “Performance Measure” shall mean, for any Fiscal Year, the quotient obtained by dividing (x) the difference between (a) the Company’s earnings before interest, taxes, depreciation and amortization (EBITDA) for such Fiscal Year, less (b) the Company’s interest expense and capital expenditures for such Fiscal Year, by (y) the weighted average number of shares of Stock outstanding for such Fiscal Year determined on a diluted basis using the treasury stock method, all as determined by reference to the Company’s audited financial statements for such Fiscal Year. The Committee shall review the Company’s audited financial statements promptly after their preparation each year to determine the percentage of the Performance Measure target amount that was achieved for purposes of this Section 3. If on any Vesting Date all or some of the Restricted Stock Units do not vest because the conditions of this Section 3 are not fully satisfied, then such unvested Restricted Stock Units shall automatically and without notice terminate, be forfeited and become null and void, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such forfeited Restricted Stock Units.
Vesting of Restricted Stock Units. The Restricted Stock Units will become vested in accordance with this Section 2.
