Vesting Terms Sample Clauses

Vesting Terms. The RSUs covered by this Agreement shall vest (i.e., become Vested RSUs) in installments in accordance with the following vesting terms and schedule: (i) Prior to the Initial Vesting Date, none of the RSUs shall be Vested RSUs; (ii) As of the Initial Vesting Date (which requires both the occurrence of a Liquidity Event prior to the Expiration Date and the Participant’s completion of at least a one Year of Vesting Service), the Participant shall vest in 25% of the RSUs covered by this Agreement plus an additional 6.25% of the RSUs covered by this Agreement for each full Quarter of Additional Vesting Service that the Participant has completed on or before the Initial Vesting Date; provided the Participant’s Termination has not occurred prior to that Initial Vesting Date; and (iii) As of any Subsequent Vesting Date following the Initial Vesting Date, the Participant shall vest in an additional 6.25% of his or her RSUs covered by this Agreement; provided the Participant’s Termination has not occurred prior to that Subsequent Vesting Date. For avoidance of uncertainty, the above provisions are intended to result in time and continuous service-based vesting (subject to the additional vesting requirement of a Liquidity Event) equal to 25% on the first anniversary of the Vesting Start Date and an additional 6.25% on each subsequent three-month anniversary of the Vesting Start Date; provided the Participant’s Termination has not occurred prior to the applicable vesting date. The Participant shall not vest further in any RSUs after his Termination and the Participant’s Vested RSUs under this Agreement shall never exceed 100% of the total RSUs subject to this Agreement. If application of a vesting percentage would cause vesting of a fractional RSU, then such vesting shall be rounded down to the nearest whole RSU and shall cumulate with any other fractional RSUs and such fractions shall vest as they aggregate into a whole RSU.

Vesting Terms. One-fourth (1/4th) of the Phantom Shares will vest on the first anniversary of the Vesting Commencement Date, and the balance of the Phantom Shares will vest in a series of thirty-six (36) successive equal monthly installments thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month), such that all of the Phantom Shares will be vested on the fourth anniversary of the Vesting Commencement Date, subject to Participant’s Continuous Service as of each such date. Vested Phantom Shares will remain outstanding until the earlier of: (i) the Expiration Date, (ii) a Liquidity Event, and (iii) a termination of Participant’s Continuous Service for Cause. If the Vested Phantom Shares terminate for any of the foregoing reasons other than pursuant to a Liquidity Event, such Vested Phantom Shares will be forfeited to the Company and no payment therefor will be made at any time. Confirmation and Waiver: Participant confirms that the award of Phantom Shares set forth in this Phantom Share Agreement is in full satisfaction of any obligation by the Company to issue an award under a phantom stock plan to Participant as set forth in an employee offer letter or otherwise. Participant hereby irrevocably waives any right to receive any other equity or phantom equity in connection with Participant’s prior services to the Company.

Vesting Terms. The Warrants represented by the attached Warrant Certificate will become exercisable, earned, and vested on the earlier of: (i) with respect to the below indicated Warrants on the dates set forth below and (ii) with respect to any Warrants that remain unvested upon a Change of Control, shall vest effective immediately prior to such Change of Control:

Vesting Terms. This Warrant shall be exercisable at the option of the Holder, at any time or from time to time, in whole or in part, on or before the Termination Date, for an aggregate number of Warrant Shares equal to (in each case, as subject to adjustment hereunder): i. as of the Issue Date first set forth above, 43,321 initial Warrant Shares (the “Initial Warrant Shares”); provided that, this Warrant shall cease to be exercisable with respect to any Initial Warrant Shares for which this Warrant has not yet been exercised on or prior to May 29, 2031, plus ii. as of the earlier of (i) [***], or (ii) any drawdown of Loan 1 (as defined in the Loan Agreement) by the Company as contemplated by the Loan Agreement, 158,845 additional Warrant Shares (the “Tranche A Warrant Shares”); provided that this Warrant shall cease to be exercisable with respect to any Tranche A Warrant Shares for which this Warrant has not yet been exercised on or prior to the date that is seven (7) years after the date on which this Warrant shall have become exercisable for such Tranche A Warrant Shares, plus iii. following any drawdown of Loan 2 (as defined in the Loan Agreement) by the Company as contemplated by the Loan Agreement, a number of additional Warrant Shares equal to (A) 158,845, multiplied by (B) a fraction equal to (x) the amount of Loan 2 drawn at or prior to such time, divided by (y) the total amount of Loan 2 that may be drawn under the Loan Agreement (the “Tranche B Warrant Shares”); provided that (a) this Warrant shall cease to be exercisable with respect to any Tranche B Warrant shares for which this Warrant has not yet been exercised on or prior to the date that is seven (7) years after the date on which this Warrant shall have become exercisable for such Tranche B Warrant Shares and (b) this Warrant shall not become exercisable for any Tranche B Warrant Shares if there is no drawdown of Loan 2 by the Company on or prior to the Expiry Date (as defined in the Loan Agreement) with respect thereto under the Loan Agreement, plus iv. as of July 31, 2025, 15,989 Warrant Shares (the “Additional Initial Warrant Shares”); provided that, this Warrant shall cease to be exercisable with respect to any Additional Initial Warrant Shares for which this Warrant has not yet been exercised on or prior to July 31, 2032, plus v. following any drawdown of Loan 3 (as defined in the Loan Agreement) by the Company as contemplated by the Loan Agreement, a number of additional Warrant Shares equal to (A) ...

Vesting Terms. Except as otherwise provided in this Agreement or the Plan, the Options shall become vested in accordance with the vesting terms set forth in the Grant Notice.

Vesting Terms. The Share Grant shall vest ratably in equal installments over twenty-four (24) months beginning on April 30, 2021, provided, that 100% (one hundred percent) of the Share Grant shall vest upon the successful closing of a Business Combination by the SPAC during the Term, regardless of the date of such closing.

Vesting Terms. (a) Upon vesting under the terms and conditions of the Plan and this Agreement, each RSU represents the right to receive from Tidewater one share of Common Stock, free of any restrictions, and any amounts, securities, and property notionally credited to his or her Account (as defined in Section 2.1) with respect to such RSU. (b) The RSUs shall vest on the first anniversary of the Date of Grant, if, except as provided in Section 1.4, the Director continues to serve on the Board on such date.

Vesting Terms. The Restricted Share Units shall vest in full on the earlier of (i) first anniversary of the Vesting Commencement Date and (ii) the Company’s next annual meeting of shareholders following the Vesting Commencement Date (the “Vesting Date”), subject to the Grantee’s continued Service Relationship through the Vesting Date.

Vesting Terms. One hundred percent (100%) of the Restricted Shares shall initially be unvested and subject to the Repurchase Right, and shall vest and be released from the Repurchase Right annually in five (5) equal installments over five years commencing from the December 31, 2015, provided that the Principal remains an employee of any Group company as of the date of such vesting and release.