Vesting of the Restricted Stock. Subject to the terms of this Agreement and the Grantee’s compliance with the provisions set forth in the Restrictive Covenant Agreement attached hereto as Exhibit A (the “Restrictive Covenant Agreement”), the Restricted Stock conditionally vests as follows:
Vesting of the Restricted Stock. (a) Except as otherwise provided in paragraphs 2(b) and 2(c) hereof, the Restricted Stock shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(d) below) by the Stockholder, or (iii) the Stockholder has not died or become permanently disabled: Anniversary Date Cumulative Percentage of of this Agreement Restricted Stock Vested ----------------- ----------------------- First 25% Second 50% Third 75% Fourth 100%
Vesting of the Restricted Stock. If (i) you are continuously employed by the Company from the Grant Date, (ii) the First Trigger, as defined in Exhibit A, is met during your continuous employment, and (iii) one of the events described below occurs after the First Trigger is met and during your continuous employment, then your Restricted Stock will vest and will be transferred to you without restriction to the extent and upon the earlier occurrence of the following:
Vesting of the Restricted Stock. Your Restricted Stock will vest and be transferred to you without restriction on the earlier of: (i) the first trading day2 that is 18 months following the Grant Date; or (ii) the first trading day3 following your Termination of Employment or Service, but only if such Termination of Employment or Service is the result of your (a) dismissal by the Company without Cause (as defined in Exhibit A) or (b) death or Disability; provided, however, if you die or suffer a Disability, only 1/18th of your Restricted Stock will vest for each consecutive month that you have completed with the Company prior to your Termination of Employment or Service, with such measurement period beginning with the Grant Date. Note that if a portion of your Restricted Stock vests upon your death or Disability, the later occurrence of any other event will not cause the vesting of the remaining Restricted Stock. If your Termination of Employment or Service is the result of any reason other than your dismissal by the Company without Cause, death or Disability, including by reason of your retirement, resignation or dismissal by the Company for Cause, then this Agreement will expire and all of your rights in the Restricted Stock will be forfeited. A termination for Cause shall only be effective after (i) Big Lots (as defined in Exhibit A) has delivered a written notice to you stating that, in its opinion, you may be terminated for Cause, specifying the details, and (ii) if the failure or action is one that can be cured, you do not cure the issue giving rise to the Cause determination within 30 days after receiving notice. Rights in the Restricted Stock Until the restrictions and conditions described in this Agreement and the Plan have been met or this Agreement expires, whichever occurs earlier, your Restricted Stock will be held in escrow. The Company will defer distribution of any dividends that are declared on your Restricted Stock until the Restricted Stock vests. These dividends will be distributed at the same time your Restricted Stock vests or will be forfeited if your Restricted Stock does not vest. 1 Denotes the number of Big Lots, Inc. common shares, par value $0.01 per share, underlying the Restricted Stock Award. 2 As determined by the New York Stock Exchange or other national securities exchange or market that regulates Big Lots, Inc. common shares. 3 As determined by the New York Stock Exchange or other national securities exchange or market that regulates Big Lots, Inc. common...
Vesting of the Restricted Stock. The Restriction Period shall lapse and your Restricted Stock shall vest and be transferred to you without restriction on the earlier of (i) the Outside Date or (ii) the day on which an Acceleration Event occurs; provided, however, if your Employment Terminates before the Outside Date or the occurrence of an Acceleration Event, then this Agreement will expire and all of your rights in your Restricted Stock will be forfeited.
Vesting of the Restricted Stock. The term “vest” as used herein with respect to any Share of Restricted Stock means the lapsing of the restrictions described herein with respect to such Share. The Restricted Stock shall become vested in accordance with, and subject to the conditions described in, Exhibit A to this Award Agreement. At any time, the portion of the Restricted Stock that has become vested is hereinafter referred to as the “Vested Portion” and any portion of the Restricted Stock that is not a Vested Portion is hereinafter referred to as the “Unvested Portion”.
Vesting of the Restricted Stock. (a) The Restricted Stock shall vest in accordance with Schedule I attached hereto, subject to Section 2(b).
Vesting of the Restricted Stock. Subject to the Participant’s continued Employment, the Restricted Stock shall become vested and non-forfeitable in two equal installments on each of the first and second anniversaries of the initial public offering of the Company. Notwithstanding any other provision of this Agreement to the contrary, in the event of a Change in Control, the Restricted Stock shall, to the extent not then vested and not previously forfeited, immediately become fully vested and non-forfeitable. Any Shares of Restricted Stock that become vested pursuant to this Section 2 shall hereinafter be referred to as “Vested Restricted Stock.”
Vesting of the Restricted Stock. (a) Except as otherwise provided in paragraphs 2(b) and 2(c) hereof, the Restricted Stock shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(d) below) by the Stockholder, or (iii) the Stockholder has not died or become permanently disabled: Anniversary of the Date Cumulative Percentage of of this Agreement Restricted Stock Vested ----------------------- ------------------------ First 25% Second 50% Third 75% Fourth 100% Shares of the Restricted Stock which have become vested are referred to herein as "Vested Shares" and all other shares of the Restricted Stock are referred to herein as "Unvested Shares."
Vesting of the Restricted Stock. (a) Except as otherwise provided in paragraph 2(b) hereof, the Restricted Stock with respect to each Stockholder shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(c) below) by the Stockholder, or (iii) the Stockholder has not died or become permanently disabled:
