Examples of Unvested Incentive Shares in a sentence
Any amount that would otherwise be distributed to an Incentive Member pursuant to Section 11.01 but for the application of the preceding sentence shall instead be retained by the LLC and paid to such Member if, as and when the Unvested Incentive Shares to which such retained amount relates vests pursuant to the terms of the applicable Award Agreement and the Incentive Plan.
Additionally there are requirements specific to residential meter sockets below.• Meters must have unobstructed space at least 3 feet in front and 1 foot to each side.
Any retained distributions pursuant to the foregoing sentence that relate to Unvested Incentive Shares that are forfeited or fail to vest for whatever reason shall become unrestricted funds of the Company and may be used for whatever purpose determined by the Board.
In that case, the authorities can decide to open a sector/profession and thus remove the need for a labour market test, grant automatic renewals, remove the uncertainty regarding the outcome of the work permit application and reduce the time needed to process the application and also allow for applications to submitted when workers are already in Malta.
If a Recipient’s Continuous Service is terminated for any reason, then, unless otherwise set forth in such Recipient’s Award Agreement, all of the Unvested Incentive Shares held by such Recipient shall immediately be forfeited and revert back to the Company without any payment to the Recipient.
Subject to Section 5.4, any distributions pursuant to Section 5.3 hereof with respect to any Unvested Incentive Shares shall be held by the Company until such Shares vest, at which time any such retained distributions shall be released to the holder of such then vested Shares.
The terms of any repurchase option with respect to Unvested Incentive Shares upon termination of employment or service of the Member will also be determined by the Board.