Subsequent Vesting definition
Examples of Subsequent Vesting in a sentence
If at any time prior to the last Subsequent Vesting Date, the Termination Event occurs, then any remaining unpaid Cancellation Payment Amounts shall be deemed vested and payable by the Company to Employee no sooner than the First Payment Date and no later than thirty (30) days following the date of the Termination Event.
On receipt of the Subsequent Vesting Notice, the Trustees shall comply with the instructions of any Employer Company Board contained in the Subsequent Vesting Notice.
The remaining 75% of the Shares shall vest in equal 25% increments on each anniversary of the Initial Vesting Date (each, a “Subsequent Vesting Date”) as long as the Participant is employed by the Company on each such Subsequent Vesting Date.
Payment shall be made on such date or dates following the occurrence of the Initial Vesting Date or Subsequent Vesting Date, as applicable, as are determined by the Committee in its discretion, but in no event will settlement and payment of any portion of the RSUs be made later than March 15 following the calendar year of the Initial Vesting Date or Subsequent Vesting Date applicable to such portion of the RSUs (each, a “Settlement Date”).
The cumulative percentage of Restricted Shares that have already vested on the Initial Vesting Date and all prior Subsequent Vesting Dates, if any.
Unless an Eligible Employee to whom a notice in terms of this clause 15.2.1 is sent, timeously notified the Trustees in writing that s/he did not wish to accept his/her Subsequent Vesting, the Trustees shall be obliged to enter his/her name in the Register and such New Khanyisa Tier 2 Participant shall thereby, with effect from the Subsequent Effective Date, become a Beneficiary, but subject to clause 15.2.4.
Any units subject to performance-based vesting that have not vested as of the last Subsequent Vesting Date shall be forfeited.
Participant acknowledges that the vesting of the RSUs pursuant to this Agreement is conditioned on Participant’s continuous employment or consulting service to the Company or its Affiliates through the Initial Vesting Date or a Subsequent Vesting Date, as applicable.
Distribution and settlement of RSUs on the Initial Vesting Event or any Subsequent Vesting Event shall be in shares of the Company’s Series G common stock.
The remaining 75% of the Shares shall vest in equal 25% increments on each anniversary of the Initial Vesting Date (each, a "Subsequent Vesting Date") as long as the Participant is employed by the Company on each such Subsequent Vesting Date.