Earning and Vesting of Awards Sample Clauses

Earning and Vesting of Awards. (a) Except as otherwise set forth in Section 5 below, and subject to the provisions of this Section 2, the PSUs subject to this Award shall vest and become Earned Shares during the period beginning on the Grant Date and ending on the fourth (4th) anniversary of the Grant Date (such period, the “Performance Period”) as follows, subject to the Grantee’s continued employment or service with the Company through the applicable Distribution Date (as defined below): (i) one-third (1/3) of the Target Shares shall vest and become Earned Shares on the date during the Performance Period on which the 40-day trailing average closing price (based on trading days) of a Share equals at least two dollars and fifty cents ($2.50), (ii) one-third (1/3) of the Target Shares shall vest and become Earned Shares on the date during the Performance Period on which the 40-day trailing average closing price (based on trading days) of a Share equals at least three dollars and twenty-five cents ($3.25), and (iii) the remaining one-third (1/3) of the Target Shares shall vest and become Earned Shares on the date during the Performance Period that the 40-day trailing average closing price (based on trading days) of a Share equals at least four dollars and twenty-five cents ($4.25) ((i), (ii) and (iii), collectively, the “Performance Conditions”). Each date during the Performance Period on which the Shares vest and become Earned Shares pursuant to this Section 2(a) is a “Vesting Date”. Any Shares that remain unvested at the conclusion of the Performance Period will be immediately forfeited without consideration, and the Grantee shall have no further rights to such Shares.
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Earning and Vesting of Awards. (a) Except as otherwise set forth in Section 5 below, and subject to the provisions of this Section 2, the PSUs subject to this Award shall vest and become Earned Shares, or be forfeited, at the conclusion of the Performance Period if, and to the extent, the Performance Conditions (each, as defined below) are satisfied and the Grantee remains employed by the Company through [ ] (the “Vesting Date”).

Related to Earning and Vesting of Awards

  • Vesting of Award Subject to Section 2(b) below and the other terms and conditions of this Agreement, this Award shall become vested in three equal annual installments on the first, second and third anniversaries of the date hereof. Unless otherwise provided by the Company, all dividends and other amounts receivable in connection with any adjustments to the Shares under Section 4(c) of the Plan shall be subject to the vesting schedule in this Section 2(a).

  • Vesting of PSUs The PSUs are subject to forfeiture until they vest. Except as otherwise provided in this Agreement, the PSUs will vest and become non-forfeitable on the last day of the Performance Period, subject to (a) the achievement of the minimum threshold performance goals for payout set forth in the attached Exhibit A, (b) the certification of the performance results for the PSUs by the Committee, and (c) there being no termination of Grantee’s employment (as determined pursuant to Section 7.2 of the Plan) from the Grant Date through the last day of the Performance Period. The number of PSUs that vest and become payable under this Agreement shall be determined by the Committee based on the level of achievement of the performance goals set forth on the attached Exhibit A and shall be rounded to the nearest whole PSU.

  • Vesting of RSUs (a) Subject to Participant’s continued employment with or service to a Participating Company on each applicable vesting date and subject to the terms of this Agreement, including, without limitation, Section 2.2(d), the RSUs shall vest in such amounts and at such times as are set forth in the Grant Notice.

  • Vesting of Performance Shares As long as you remain employed with PG&E Corporation, the Performance Shares will vest on the first business day of January (the “Vesting Date”) of the third year following the date of grant specified in the cover sheet. Except as described below, all Performance Shares subject to this Agreement that have not vested shall be forfeited upon termination of your employment.

  • Vesting of Options The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will also vest and become exercisable:

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