Restricted Stock Grants. The restricted stock grants made pursuant to that certain Restricted Stock Award Agreement by and between the Company (or its successor or affiliate) and Executive dated as of January 1, 2014 shall vest in accordance with the terms of such agreement.
Restricted Stock Grants. Subject to approval by the Board and the Compensation Committee, and as additional compensation, the Corporation shall grant to Director Restricted Shares equal to $15,000.00 (“Restricted Stock”) of the Corporation’s Common Stock, $0.001 par value per share, payable in quarterly installments of such restricted shares equal to $3,750.00 on the date of the company’s quarterly meeting of the Board of Director’s in arrears.
Restricted Stock Grants. Restricted stock issued at the discretion of the Employer.
Restricted Stock Grants. With respect to the shares of Restricted Equity Consideration issued to Xxxxxxxx, such shares shall vest hereunder as follows: 16.67% on the six (6) month anniversary of the Closing Date and thereafter at a rate of an additional 16.67% on the last day of each successive six (6) month period over the next two and one half years. One hundred percent (100%) of the shares of Restricted Equity Consideration not already vested shall become immediately vested in the event of an Acceleration Event. Xxxxxxxx will have the option to file a protective 83(b) election under Section 83(b) of the Code as soon as practicable after the Closing and in any event within thirty (30) days after the Closing. Xxxxxxxx agrees to furnish Parent and Buyer with copies of such filed 83(b) election, if any. While the shares of Restricted Equity Consideration are subject to vesting pursuant to this Section 6.8, Xxxxxxxx will have all rights with respect thereto (including, without limitation, the right to vote the shares and the right to dividends paid on the shares, if any), except that Xxxxxxxx shall not have the right to possession and sale thereof. For the purposes hereof, Acceleration Event shall be defined as (a) a Change of Control (as defined herein), (b) the termination of employment without cause (as defined in the respective employment agreement) of Xxxxxxxx by Parent, or (c) the resignation of Xxxxxxxx for Good Reason (as defined in the respective employment agreement). For the purposes hereof, “Change of Control” shall mean (x) an event when any “person”, as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), except for an existing stockholder of Parent as of the date hereof, is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Parent representing more than fifty percent (50%) of the voting power of the Parent’s then outstanding securities, other than as a result of the purchase of equity securities directly from the Parent in connection with a financing transaction; (y) the consummation of a merger or consolidation of the Parent with or into another entity or any other corporate reorganization, if more than fifty percent (50%) of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders ...
Restricted Stock Grants. 11.1 The Company hereby grants to Employee 30,000 restricted shares of the Company’s Common Stock, $.001 par value subject to the provisions of the Company’s 2006 Long Term Incentive Plan (the “Plan”).
Restricted Stock Grants. Restricted Stock may be awarded by the Board to participants of the Company chosen by the Board in its sole discretion. The amount of each award shall be subject to the terms and conditions set forth in an agreement between the Company and the Grantee containing the terms and conditions of the award, which shall be consistent with the provisions set forth in this Plan and the Administrative Rules adopted by the Board. All Restricted Stock Grants that do not vest pursuant to the provisions of Section 6.1.3 shall be forfeited.
Restricted Stock Grants. Immediately after the Closing, Parent agrees to issue to certain Employees the aggregate amount of Parent Common Stock as shall be obtained by dividing $7,050,000 by the Closing Market Price as provided in Schedule 7.8 and such shares shall be subject to vesting as provided herein (the “Restricted Equity Consideration”). Such Employees shall be collectively referred to as the “Employee Shareholders.” With respect to the shares of Restricted Equity Consideration, such shares shall vest hereunder as follows: 20.0% on the six (6) month anniversary of the Closing Date (the “Initial Vesting Date”) and thereafter at a rate of an additional 20.0% on the last day of each successive six (6) month period over the next twenty-four (24) months. Fifty percent (50.0%) of the shares of Restricted Equity Consideration not already vested shall become immediately vested in the event of a Change of Control during the first twelve (12) months following the Closing Date and one hundred percent (100.00%) of the shares of Restricted Equity Consideration not already vested shall become immediately vested in the event of a Change of Control at any time thereafter. While the shares of Restricted Equity Consideration are subject to vesting pursuant to this Section 7.8, the Employee Shareholders will have all rights with respect thereto (including, without limitation, the right to vote the shares and the right to dividends paid on the shares, if any), except that such Employee Shareholders shall not have the right to possession and sale thereof. The parties agree that the Restricted Equity Consideration is being issued in connection with services to be performed by the Employee Shareholders post-Closing and shall be subject to income and employment tax withholding at the time when such Restricted Equity Consideration is no longer subject to substantial risk of forfeiture. Notwithstanding Section 1.8 above, such income and employment tax withholding shall not be satisfied out of Merger Consideration except with respect to an Employee Shareholder who makes an election under Section 83(b) or the Code related to the Restricted Equity Consideration.
Restricted Stock Grants. You will be granted Restricted Shares of the Company’s common stock, $0.001 par value per share (“Restricted Shares”) as follows:
Restricted Stock Grants. Attached hereto as Exhibit A is a form of Performance Share Award Agreement ("Award") under the Company's 1996 Stock Incentive Plan ("Plan"). The Plan is subject to stockholder approval at the next meeting of the Company's stockholders. The Company agrees that if the Plan is approved by the Company's stockholders at the next meeting of stockholders, the Company will execute the Award and issue the performance shares described therein, which shall be subject to the vesting provisions of such Award, to the Employee (or, in the event of the prior death of Employee, to Employee's estate). If Employee's employment with the Company terminates prior to such stockholder approval and, under the terms of the Award, the performance shares would not have vested prior to or upon such termination of employment, then the Company shall not be obligated to execute the Award or issue the performance shares to Employee pursuant to the Award.
Restricted Stock Grants. Within five (5) business days following the later of the date the Company receives a signed Release or the expiration of the Release Revocation Period, the Company will accelerate the vesting of any unvested grants of time-vested restricted stock from the Company following the expiration of the Release Revocation Period. The Company will withhold any vested stock necessary to cover your tax obligations due as a result of the accelerated vesting.
