Vesting Generally definition

Vesting Generally. The Restricted Share Units awarded pursuant to the terms of this Grant Agreement, shall vest in equal installments on each of the first [___] anniversaries of the Grant Date. In each case, except as otherwise provided herein, vesting is contingent upon your continued employment through the vesting date. Any Restricted Share Units that are unvested as of the date your employment ceases (taking into account any acceleration of vesting applicable under provisions below regarding Qualified Termination (as defined below) or Retirement (as defined below)) will be forfeited automatically. Vesting Upon Qualified Termination If your employment is terminated due to a termination by Independence Realty Trust, Inc. (“IRT”) without Cause within one year following a Change in Control, your death or your Disability (each, a “Qualified Termination”), any remaining unvested Restricted Share Units will then vest in full, subject to your satisfaction of the release requirement described below. The above-described special treatment upon a Qualified Termination is conditioned on your (or, if the case of your death, your estate’s) execution of a general release of claims against IRT and its affiliates in a form prescribed by IRT and to such release becoming irrevocable within 60 days after such termination. Vesting Upon Retirement If your employment ceases due to your Retirement, any remaining Restricted Share Units will then vest. For purposes of this section “Retirement” shall mean your voluntary separation of employment following satisfaction of the “Rule of 70.” The Rule of 70 shall be satisfied upon (1) completion of at least fifteen (15) years of service with IRT or its related entities; (2) attainment of age 55 and (3) your combined age and service equals at least 70. Solely for purposes of clauses (1) and (3) above, RAIT Financial Trust will be deemed a “related entity” with respect to IRT. A separation will only be considered a Retirement if you (i) provide at least six months’ advanced notice to IRT, (ii) execute, within 60 days following such separation, a non-compete and non-solicitation agreement with a duration of up to three years and that is otherwise in a form prescribed by IRT, and (iii) execute a general release of claims against IRT and its affiliates in a form prescribed by IRT, which release must become irrevocable within 60 days following such separation. Voting/Dividend Rights: Restricted Share Units do not have voting rights. IRT shall establish a “Divi...
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Vesting Generally. The RSUs shall vest in equal annual installments, on the first [___] anniversaries of the Grant ▇▇▇▇.▇▇ each case, except as otherwise provided herein, vesting is contingent upon your continued employment with the Company through the vesting date. For this purpose, employment with the Company will be deemed to include employment with an Affiliate of the Company (but only for so long as such entity remains an Affiliate of the Company).Any RSUs that are unvested as of the date your employment with the Company ceases (taking into account any acceleration of vesting) will be forfeited automatically.
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Related to Vesting Generally

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Vesting Schedule means the vesting schedule specified in the Grant Notice pursuant to which the Optionee is to vest in the Option Shares in a series of installments over his or her period of Service.

  • Annual Grant means an Option granted annually to all Non-Employee Directors who meet the criteria specified in subsection 6(b) of the Plan.