Vesting Shares o The first vesting date for the Performance-Vesting Shares shall be December 31, 2008. Up to fifty percent (50%) of the Performance-Vesting Shares may vest on that date, depending on the degree to which a performance goal based on the cash earnings of the Company during the fourth quarter of the preceding fiscal year, 2007, has been met, in accordance with the schedule set forth on Exhibit B hereto. Any of such shares which do not vest on the first vesting date shall not be forfeited, but shall remain subject to the terms and conditions of the Initial Restricted Stock Grant. o The second vesting date for the Performance-Vesting Shares shall be December 31, 2009. Up to hundred percent (100%) of the Performance-Vesting Shares still subject to the Initial Restricted Stock Grant (including shares which failed to vest at the first vesting date) may vest on the second vesting date, depending on the degree to which a performance goal based on the cash earnings of the Company during the fourth quarter of the preceding fiscal year, 2008, has been met, in accordance with the schedule set forth on Exhibit B hereto. Any of such shares which do not vest on the second vesting date shall be forfeited. o If the Executive's employment shall be terminated by the Company without Cause or by the Executive for Good Reason at any time prior to the second vesting date, the shares of Common Stock subject to the Initial Restricted Stock Grant at the time of such termination shall remain subject to the Initial Restricted Stock Grant until the vesting date which immediately follows such termination. Upon such vesting date the same number of shares shall vest as would have vested if the Executive had remained employed by the Company on such vesting date. If the Executive's employment terminates for any other reason while shares of Common Stock remain subject to the terms and conditions of the Initial Restricted Stock Grant, all such shares shall be forfeited at such termination.
Vesting Shares. (a) Effective as of, and contingent upon the Effective Time, upon receipt thereof, 1,000,000 Domesticated Parent Common Shares (the “Vesting Shares”) received by the Sponsor shall be deemed unvested and be irrevocably forfeited and surrendered to Parent for no consideration on the first (1st) Business Day following the expiration of the Earnout Period; provided, however:
Vesting Shares a) The Sponsor hereby agrees that at the Exchange Effective Time, if (and solely to the extent that) the Total Cash Infusion is less than $350 million, then 500,000 shares of Class B Common Stock held by the Sponsor (which shares shall automatically convert into shares of Common Stock at the Effective Time) shall immediately become unvested and subject to the vesting and forfeiture provisions set forth in Section 4(b) (such shares, the “Vesting Shares”).
Vesting Shares. The "Initial Vesting Date" shall be February 3, --------------
Vesting Shares. The Sponsor acknowledges and agrees that the Vesting Shares shall be subject to vesting from and after the Closing through and until the date that is five (5) years after the Closing Date (the “Sponsor Vesting Period”) in accordance with the following:
Vesting Shares. 1,796,875 shares of Class A Common Stock of Parent in the aggregate held by the Sponsor and the Insiders (such shares, the “Vesting Shares”), with the amount of Vesting Shares held by each of the Sponsor and each Insider set forth on Schedule I hereto, shall, concurrently with the Effective Time, have a legend (the “Legend”) in substantially the following form affixed to them and be held subject to the terms and conditions of this Section 2: “THE SECURITIES EVIDENCED HEREIN ARE SUBJECT TO RESTRICTIONS ON TRANSFER, AND CERTAIN OTHER AGREEMENTS, SET FORTH IN THE VESTING AGREEMENT, DATED AS OF July 16, 2021, BY AND AMONG GX ACQUISITION CORP. AND THE OTHER PARTIES THERETO.” All other shares of Common Stock of Parent held by the Sponsor and the Insiders shall remain outstanding following the Effective Time in accordance with their existing terms and the terms of the Sponsor Agreement.
Vesting Shares. The number of Contingent Shares owned by a Vesting Stockholder that will be Vesting Shares is set forth opposite such Vesting Stockholder’s name on Exhibit B. All Vesting Shares will be deemed to be Contingent Shares that (i) are subject to the Repurchase Right unless and until they become Earned Shares and (ii) are also subject to the Repurchase Restriction as provided in Section 2.4.3 and Exhibit B unless and until they become Vested Shares.
Vesting Shares. (a) Effective as of, and contingent upon the Merger Effective Time, upon receipt thereof, 1,916,667 New PubCo Ordinary Shares (the “Vesting Shares”) received by the Sponsor at Closing shall be deemed unvested; provided, however, that the Vesting Shares shall be deemed to have vested and shall cease to be subject to the restrictions and forfeiture provisions under this Section 6 upon the later of (i) the date that is one hundred eighty (180) days after the consummation of the Closing and (ii) the Volume Weighted Average Price of a New PubCo Ordinary Share equaling or exceeding $12.50 for 20 Trading Days within any 30 consecutive Trading Day period during the period of time following the Closing and ending on the five (5) year anniversary of the Closing Date (the “Specified Period”); provided, that if such shares have not vested prior to the expiration of the Specified Period then such shares shall be irrevocably forfeited and surrendered to New PubCo for no consideration on the first (1st) Business Day following the expiration of the Specified Period.
Vesting Shares. 7 1.10 No Further Ownership Rights in Company Common Stock.................................7 1.11 Lost, Stolen or Destroyed Certificates..............................................7
Vesting Shares. All Vesting Shares issued pursuant to Section 1.8 shall be issued subject to the terms of, in the case of Dan Xxxxx xxx Danex Xxxxxx, xx Employment Agreement in the form attached as Exhibit A hereto and, in the case of Paul Xxxxx, x Non-Competition Agreement in the form attached as Exhibit B-1 hereto.
