Time-Based RSU definition
Time-Based RSU is a RSU subject to a service-based restriction on vesting; and a “Performance-Based RSU” is a RSU subject to restrictions on vesting based upon the achievement of specific performance goals.
Time-Based RSU shall have the meaning set forth in Section 5.4.1.
Time-Based RSU means a RSU which is subject to time-based vesting conditions as set forth in the RSU Grant Agreement as may be varied or accelerated by the Committee at its sole discretion. Unless the Committee provides otherwise, the vesting of the Time-Based RSU may be suspended during any leave of absence.
Examples of Time-Based RSU in a sentence
Subject to Sections 3 and 4, one-third of the Time-Based RSU Shares shall vest on each of the Time-Based Vesting Dates.
Such pro rata portion shall equal (A) the number of unvested Time-Based RSU Shares as of such termination, multiplied by (B) a fraction, the numerator of which shall be the number of full months between the Time-Based Vesting Date that immediately precedes such termination and the termination date and the denominator of which shall be the number of full months between the Time-Based Vesting Date that immediately precedes such termination and the final Time-Based Vesting Date.
Any Time-Based RSU Shares that do not vest on the first Time-Based Vesting Date following such termination shall be forfeited without any payment to the Participant.
As soon as practicable and within 30 days following each Time-Based Vesting Date, the Company shall deliver to the Participant the portion of the Time-Based RSU Shares that vests on such Time-Based Vesting Date.
Unless the Committee provides otherwise, the vesting of the Time-Based RSU may be suspended during any leave of absence.
More Definitions of Time-Based RSU
Time-Based RSU or “TBRSU”) granted to the Executive, in each case, whether the applicable Options, TBRS and/or TRBSU are issued under (i) the 2012 LTIP, (ii) the SeaSpine 2015 Plan, or (iii) any other future or successor Company plan or standalone award agreements. Such provisions shall supersede and override any conflicting provisions set forth in applicable award agreements of the Company governing applicable grants, and shall be incorporated by reference into the terms of such award agreements. Notwithstanding the foregoing, the provisions in Section 6(a), (b), (c) and (d) below shall not apply with respect to the equity-based compensation grants made to the Executive pursuant to Nasdaq Rule 5635(c)(4) in connection with his inducement to become employed by the Company.
Time-Based RSU or “TBRSU”) granted to the Executive before or after the date of this Agreement. Such provisions shall supersede and override any conflicting provisions set forth in applicable award agreements of the Company governing applicable grants, and shall be incorporated by reference into the terms of such award agreements.
Time-Based RSU means an RSU granted to a Participant that is not a Performance-Based RSU and that is subject to a substantial risk of forfeiture (within the meaning of the Nonqualified Deferred Compensation Rules) for a period that is not less than that period that begins on the grant date of such RSU and ends on the first to occur of (a) the date that is twelve (12) months following the grant date of the RSU, (b) the Participant’s death, (c) the Participant’s “disability” within the meaning of the Nonqualified Deferred Compensation Rules), or (d) the date on which a “change of control” (within the meaning of the Nonqualified Deferred Compensation Rules) of the Company occurs.
Time-Based RSU or “TBRSU”) granted to the Executive, in each case, whether the applicable Options, TBRS and/or TRBSU are issued under (i) the 2012 LTIP, (ii) any other Company plan or award approved pursuant to Nasdaq Marketplace Rule 5635(c)(4), or (v) any other future or successor Company plan or standalone award agreements. Such provisions shall supersede and override any conflicting provisions set forth in applicable award agreements of the Company governing applicable grants, and shall be incorporated by reference into the terms of such award agreements.
Time-Based RSU or “TBRSU”) granted to the Executive after January 1, 2023, in each case, whether the applicable Options, TBRS and/or TRBSU are issued under (i) the 2012 LTIP, (ii) SeaSpine’s Amended and Restated 2015 Incentive Award Plan, as amended, (iii) the Company’s Inducement Plan for SeaSpine Employees, (iv) any other Company plan or award approved pursuant to Nasdaq Marketplace Rule 5635(c)(4), or (v) any other future or successor Company plan or standalone award agreements. Such provisions shall supersede and override any conflicting provisions set forth in applicable award agreements of the Company governing applicable grants, and shall be incorporated by reference into the terms of such award agreements.
Time-Based RSU means an Award of Restricted Stock Units subject to time-based vesting requirements granted by the Committee to a Participant hereunder, the terms of which shall be set forth on the form of Time-Based RSU Agreement attached hereto.
Time-Based RSU or “TBRSU”) granted to the Executive after January 1, 2023, in each case, whether the applicable Options, TBRS and/or TRBSU are issued under (i) the 2012 LTIP, (ii) SeaSpine’s Amended and Restated 2015 Incentive Award Plan, as amended, (iii) the Company’s Inducement Plan for SeaSpine Employees, (iv) any other Company plan or award approved pursuant to Nasdaq Marketplace Rule 5635(c)(4), or (v) any other future or successor Company plan or standalone award agreements. Such provisions shall supersede and override any conflicting provisions set forth in applicable award agreements of the Company governing applicable grants, and shall be incorporated by reference into the terms of such award agreements. Notwithstanding anything herein to the contrary, the provisions of Section 6 of the Prior CiC Agreement shall remain in full force and effect, and shall continue to apply, with respect to Time-Based Stock Options, TBRS and TBRSUs granted on or before January 1, 2023.