Third Vesting Date definition
Examples of Third Vesting Date in a sentence
Unit Values for Performance Units that vest on the Second Vesting Date shall not remain subject to adjustment as of the Third Vesting Date.
The First Vesting Date, the Second Vesting Date and the Third Vesting Date are each the “Vesting Date” for the Restricted Stock Units that vest on such date.
The total number of Deferred Shares that may be earned if Awardee remains employed by the Company or its subsidiaries through the Third Vesting Date is [_______] shares.
With respect to all Performance Units granted to Employee that vest on the Third Vesting Date, an amount equal to the Third Vesting Date Unit Value (determined in accordance with section 4(c)(iii) below) multiplied by the number of Performance Units granted under this Award that vest on the Third Vesting Date.
Any portion of the Award that does not vest as of the Third Vesting Date, as more particularly described herein, shall expire and be forfeited and Employee shall thereafter have no further right to payment or compensation with respect to any such unvested portion of such Award.
If your employment with the Company Group terminates before the Third Vesting Date for any reason other than one of the reasons described in Sections 1.2 through 1.5 below, the Forfeiture Restrictions then applicable to the Restricted Stock Units shall not lapse and the number of Restricted Stock Units then subject to the Forfeiture Restrictions shall be forfeited to the Company on the date your employment terminates.
Notwithstanding any other provision of this Agreement, all Unvested Shares as of the Third Vesting Date shall automatically and immediately be surrendered to the Company and cancelled without any payment to the CEO for such Unvested Shares.
The resulting Performance Ratio at each Vesting Date is: First Vesting Date: $40,000,000 / $50,000,000 = 0.8 Second Vesting Date: $60,000,000 / $50,000,000 = 1.2 (deemed to be 1.0) Third Vesting Date: $50,000,000 / $50,000,000 = 1.0 Therefore, 80.0% of one third of the Shares (or 26.66% of the Shares) vest on the First Vesting Date, and, absent application of Section 2.2, 100.0% of one third of the Shares vest on each of the Second and Third Vesting Dates for total vesting of 93.33% of the Shares.
Notwithstanding any other provision of this Agreement, any Performance Shares that are Unvested Shares as of immediately following the final determination of the Trailing Twelve Month's Economic Earnings for the fiscal year ending on the Third Vesting Date shall automatically and immediately be surrendered to the Company and cancelled without any payment to the CEO for such Unvested Shares.
Each Purchaser agrees that it will not enter into any Short Sales (as hereinafter defined) from the period commencing on the Closing Date and ending on the Third Vesting Date (as defined in the Adjustable Warrants).