Earning and Vesting of Restricted Stock Sample Clauses

Earning and Vesting of Restricted Stock. The Restricted Stock will be (i) earned based on the future performance of the Company, and (ii) vest based on Employee's future service to the Company. If not both earned and vested, the Restricted Stock will be forfeited as provided herein. Restricted Stock will be earned at the specified Performance/Vesting Date if the Total Shareholder Return ("TSR") (as defined below) of the Company, measured from the Grant Date to the Performance/ Vesting Date, exceeds the 50th percentile or the 75th percentile of the Comparison Group (as defined below), as follows: Number of Shares of Restricted Stock Earned Based on Performance ---------------------------------------------------------------- Performance/ IFF TSR Exceeds 50th IFF TSR Exceeds Vesting Date Up to 75th Percentile 75th Percentile ------------ --------------------- --------------- July 31, 2005 25,000 50,000 July 31, 2006 25,000 50,000 July 31, 2007 50,000 plus 50% of 100,000 plus all Unearned Unearned Restricted Stock Restricted Stock
Sample 1
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Earning and Vesting of Restricted Stock. The Performance Period, Performance Measures, targeted level of performance for each Performance Measure, Award Rates and vesting schedule relating to the Award of Restricted Stock are set forth in Exhibit A to this Agreement. The Award of Restricted Stock must be earned and subsequently vested, as determined by the Compensation Committee, in order for the Executive to be eligible to receive any shares free of restriction. With respect to whether the targeted level of performance for each of the Performance Measures has been achieved and the Award of Restricted Stock has been earned, the determination of the Compensation Committee shall be based on the Company’s audited financial statements for the fiscal year ending December 31, 2010. If the targeted level of performance for a Performance Measure is achieved, then the number of shares Restricted Stock attributed to such Performance Measure shall be earned by the Executive and, in addition, shall then be subject to a continued service vesting requirement as set forth in Exhibit A in order for the Award to vest. If the shares of Restricted Stock are earned and become vested, such shares shall be free of restriction, except as provided otherwise in the Plan or this Agreement.
Sample 1

Related to Earning and Vesting of Restricted Stock

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • 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.

  • Grant of Restricted Share Units The Company hereby grants to the Participant [ ].00 restricted share units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan.

  • Forfeiture of Restricted Stock Units Except as provided in Section 3, if the Employee terminates employment prior to the satisfaction of the vesting requirements set forth in Section 2(a) above, any unvested Restricted Stock Units shall immediately be forfeited. The period of time during which the Restricted Stock Units covered by this Award are forfeitable is referred to as the “Restricted Period.”

  • Forfeiture of Restricted Stock Upon the termination of your employment by you, the Company or its Subsidiaries for any reason other than those set forth in Section 4 hereof prior to such vesting, in addition to the circumstance described in Section 9(a) hereof, any and all Shares of Restricted Stock which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited and shall revert to the Company.

  • Grant of Restricted Stock Units The Corporation hereby awards to Participant, as of the Award Date, restricted stock units under the Plan. The number of shares of Common Stock underlying the awarded restricted stock units and the applicable service vesting requirements for those units and the underlying Shares are set forth in the Award Notice. The remaining terms and conditions governing the Award shall be as set forth in this Agreement.

  • Vesting of PSUs The PSUs are subject to forfeiture until they vest. Except as otherwise provided herein, the PSUs will vest and become nonforfeitable on the last day of a Performance Period with respect to the PSUs earned for such Performance Period in accordance with Section 4.2, subject to (a) the achievement of the minimum threshold Performance Goals for payout set forth in Exhibit A hereto, and (b) the Grantee's Continuous Service 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 in Exhibit A hereto and shall be rounded to the nearest whole PSU.

  • Settlement of Restricted Stock Units 6.1 Subject to Section 9 hereof, promptly following the vesting date, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units; and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

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