Time Vesting definition
Examples of Time Vesting in a sentence
All Time Vesting Units, not previously forfeited, (subject to Section 4(a)), will vest upon the consummation of a Change of Control.
In the event of a Change in Control, in connection with which the successor to the Company fails to assume, convert or replace the RSUs, the Time Vesting RSUs, Earned RSUs, and the Change in Control Earned RSUs, to the extent not assumed, will become vested as of immediately prior to the Change in Control.
Any Time Vesting Units that are not vested as of the date of termination shall vest as of the date of termination.
The Time Vesting RSUs shall vest in equal installments on each of the first three anniversaries of the Vesting Start Date, subject to the Participant’s continued employment through the applicable vesting date; provided, that if the number of RSUs specified above is not evenly divisible by three, then no fractional units shall vest and the installments shall be as equal as possible with the smaller installments vesting first.
All shares of the Time Vesting Stock which have become Vested Time Vesting Stock prior to the Termination Date will remain Vested Time Vesting Stock after the Termination Date.