Contingent Restricted Stock definition

Contingent Restricted Stock and “Contingent Options” and will be subject to the forfeiture provisions of Section 11.7. With respect to all Restricted Stock that is vested and all Restricted Stock that is unvested for which the recipient makes an election under Section 83(b) of the Code within 30 days from the date of grant, EDS will report as compensation to the recipient the fair market value of such Restricted Stock as of the Closing Date, will report no additional amount as compensation with respect to such Restricted Stock, and will not take any position contrary to such reporting on any Tax Return or in any agreement or correspondence with any taxing authority.

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Contingent Restricted Stock means a contingent grant of shares of Performance-Based Restricted Stock under the terms and conditions set

Contingent Restricted Stock means a contingent grant of shares of Performance-Based Restricted Stock under the terms and conditions set forth in Article III, Section 1, that has no indicia of ownership of Common Stock, that is granted at the commencement of a Performance Period and will be converted to an actual award of Performance-Based Restricted Stock, if any, pursuant to the Performance-Based Restricted Stock Payment Schedule.

Examples of Contingent Restricted Stock in a sentence

In addition, the Participant expressly acknowledges that violation by the Participant of Section 10 of this Agreement will obligate the Participant to pay to the Company the Fair Market Value of the Performance Contingent Restricted Stock that becomes vested or is issued pursuant to Section 5.
The Company shall not be obligated to deliver any shares of Performance Contingent Restricted Stock until Participant pays to the Company in cash, or any other form of property acceptable to the Company, the amount required to be withheld for any federal, state or local income, FICA or other taxes of any kind with respect to such shares.
Except as otherwise provided in this Agreement, Participant shall forfeit any and all right to the Performance Contingent Restricted Stock upon Participant’s termination of employment with the Company and its subsidiaries for any reason prior to the end of the Performance Period.
The Performance Contingent Restricted Stock shall not be transferable by Participant and may not be, sold, assigned, disposed of, or pledged or hypothecated as collateral for a loan or as security for performance of any obligation or for any other purpose until, with respect to the Performance Restricted Shares, after the restrictions have lapsed as provided in Section 5 and, with respect to the Potential Performance Restricted Shares, after such shares have been issued and delivered to the Participant.
All capitalized terms used in this Performance Contingent Restricted Stock Unit Award Agreement (this “Agreement”) shall have the meaning set forth in the Plan unless otherwise defined herein.
Because the Company cannot issue fractional shares, the Administrator will round to the nearest whole number of shares of Performance Contingent Restricted Stock in such interpolations.
The Award Date of the Performance Contingent Restricted Stock awarded under this Agreement is December 5, 2007.
If performance on one or more of the Performance Contingencies has been achieved between the Threshold and Target or Target and High Performance levels of performance, the Administrator shall interpolate for performance between the applicable levels and shall determine the number of shares of Performance Contingent Restricted Stock as to which the restrictions shall lapse.
If performance on neither Performance Contingency has been achieved at or above Threshold, then all Performance Contingent Restricted Stock is forfeited.
The Participant accepts this Performance Contingent Restricted Stock Award and agrees that the restrictions relative to such Award shall lapse only following the conclusion of the Performance Period and only to the extent that one or more of the Performance Contingencies set forth in Appendix A have been met or exceeded.

More Definitions of Contingent Restricted Stock

Contingent Restricted Stock means a contingent grant of shares, under the terms and conditions set forth in Article III, Section 1, that has no indicia of ownership of Common Stock, that is granted in connection with a Performance Period and that may be converted to an award of Performance-Based Restricted Stock, following the achievement of Performance Objectives under the terms and conditions set forth in Article III, Section 2.

Contingent Restricted Stock has the meaning specified in Section 8.2(a).