Non-Vested Shares definition

Non-Vested Shares means any portion of the Restricted Stock subject to this Agreement that has not become vested pursuant to this Section 2.

Non-Vested Shares means any portion of the Shares of Restricted Stock subject to this Agreement that has not become vested pursuant to this Section 2.

Non-Vested Shares. The Awarded Shares shall vest as follows:

Examples of Non-Vested Shares in a sentence

• If the Stockholder ceases to be an employee of the Company for any reason, subject to Section 4(b)(i), no further installments of Non-Vested Shares will become Vested Shares and the Company will have the option at any time thereafter, but not the obligation, to purchase all or any portion of the Non-Vested Shares from the Stockholder in accordance with the terms set forth in Section 4(d) (such option being a "Repurchase Option").

• Notwithstanding the foregoing and anything in the Plan to the contrary, upon the occurrence of a Change of Control (as defined in the Severance Agreement), all Non-Vested Shares will immediately become and remain Vested Shares.

• Non-Vested Shares shall not be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of the Recipient to any party (other than the Company or Related Entity), or assigned or transferred by the Recipient otherwise than by will or the laws of descent and distribution or to a Beneficiary upon the death of the Recipient.

• None of the Non-Vested Shares now owned or hereafter acquired will be Transferred, except: (i) with the prior written consent of and subject to such conditions as may be imposed by the Board; (ii) to a Permitted Transferee, as defined below; or (iii) to the Company pursuant to Section 4 hereof.

• Unless otherwise agreed to in writing by the Company, after any Transfer of Non-Vested Shares, such Non-Vested Shares and the transferee thereof will continue to be subject to the terms and conditions of this Agreement as though the transferee were the Stockholder with respect to such Non-Vested Shares.

More Definitions of Non-Vested Shares

Non-Vested Shares means all the Shares that are not Vested Shares.

Non-Vested Shares means Shares held by the Executive that are not

Non-Vested Shares shall be determined as set forth in this Section 5.1. The vesting start date shall commence October 1, 2008 (the “Start Date”). Subject in each case to Purchaser being in Continuous Status as a Service Provider to the Company, the number of shares constituting Non-Vested Shares shall be reduced in forty-eight (48) equal monthly installments of 2.0833% each, with the first of such monthly reductions to be effective on November 1, 2008 and the remaining monthly reduction to be effective on the first (1st) day of each of the next forty-seven consecutive calendar months thereafter. If at any time Purchaser ceases to be in Continuous Status as a Service Provider to the Company, there shall be no further reduction in the number of Non-Vested Shares as of the date on which Purchaser ceases to be in Continuous Status as a Service Provider to the Company, except as provided in Section 5.2. Upon termination of Purchaser’s continuous status as a Service Provider to the Company, all Non-Vested Shares shall be returned back to the Company for no monetary consideration and the Purchaser shall forfeit all Non-Vested Shares back to the Company. For purposes of this Agreement, any reference to “Vested Shares” shall mean those shares of Stock subject to this Agreement which are no longer Non-Vested Shares.

Non-Vested Shares means any Shares of the Restricted Stock subject to this Agreement that have not become vested pursuant to this Section 2. “Second Award” means that number of Shares of Restricted Stock amounting to an aggregate amount equal to 20.83125% of the Net Operating Income received by the Company from the effective date of Grantee’s Employment Agreement with the Company until the Second Award Date pursuant to the Master Agreement, as calculated based on the Common Stock Value as determined on the Second Award Date; provided, that if such calculation shall result in a fractional Share, such fraction shall be disregarded. “Related Entity” means the Company’s wholly-owned subsidiaries on or after the Effective Date, including without limitation ECS Labs LLC, a Texas limited liability company and/or its wholly-owned subsidiaries, and any other wholly-owned subsidiaries of the Company. “Vested Shares” means any Shares of the Restricted Stock subject to this Agreement that have become vested pursuant to this Section 2.

Non-Vested Shares. The percentage of the shares covered by this Agreement which shall be "Non-Vested Shares" shall be determined solely on the basis of the length of time from the date of this Agreement that the Employee remains in the employ of the Company. Until May 4, 1999, all of the shares covered by this Agreement shall be Non-Vested Shares. Effective upon the aforementioned date, twenty-five percent (25%) of the shares covered by this Agreement shall cease to be Non-Vested Shares. Thereafter, the number of shares constituting Non-Vested Shares at any given time shall be further reduced in twelve (12) quarterly installments, each equal to six and one-quarter percent (6.25%) of the shares subject to this Agreement, with each to be effective as of the 4th day of each of August, November, February and May commencing on August 4, 1999. Therefore, all shares shall be Vested Shares on and after May 4, 2002. For purposes of this Agreement, any reference to Vested Shares" shall mean those shares subject to this Agreement which are no longer "Non-Vested Shares". Notwithstanding the foregoing, all of the Employee's shares subject to this Agreement shall become Vested Shares and none of the shares covered hereby shall remain Non-Vested Shares at such time as the repurchase rights of the Company under this Section 4 have expired.

Non-Vested Shares means shares of Stock that have been allocated to a Participant’s Account for less than 24 months.

Non-Vested Shares has the meaning specified in Section 4(a) of this Agreement.