Lapse of Restriction by Passage of Time. During employment, the Restriction on one-third of the total number of Shares will lapse and have no further force on the first anniversary of the Grant Date; the Restriction on an additional one-third of the total number of Shares will lapse and have no further force on the second anniversary of the Grant Date; and the Restriction on the remaining Shares will lapse and have no further force on the third anniversary of the Grant Date.
Lapse of Restriction by Passage of Time. The Restriction shall lapse and have no further force on the third anniversary of the Grant Date.
Lapse of Restriction by Passage of Time. The Restriction shall lapse and have no further force or effect upon the earlier of: (a) three (3) years after the date of this Agreement; or (b) employee’s attainment of age 65.
Lapse of Restriction by Passage of Time. During employment, the Restriction on one-third of the total number of Units (rounded up) will lapse and have no further force on the first anniversary of the Grant Date; the Restriction on an additional one-third of the total number of Units (rounded up) will lapse and have no further force on the second anniversary of the Grant Date; and the Restriction on the remaining Units will lapse and have no further force on the third anniversary of the Grant Date. Subject to Sections 4, 5 and 6 below, Units with respect to which the Restriction has lapsed shall be paid in the form of common shares of the Company on the first, second and third anniversaries of the date of grant (each, a “Delivery Date”).
Lapse of Restriction by Passage of Time. The restrictions on will lapse and have no further force on .
Lapse of Restriction by Passage of Time. The Restriction shall lapse, and have no further force or effect, with respect to the Shares comprising each grant, at the time or times set forth in the Notice of Grant.
Lapse of Restriction by Passage of Time. The Restriction shall lapse and have no further force or effect with respect to 33-1/3% of the Shares (including 33-1/3% of any additional Shares which at the time have been purchased with dividends on the Shares) awarded hereunder on July 1 of each of 1998, 1999 and 2000, provided Employee remains employed by the Company on such dates. If Employee's employment is terminated because of Retirement prior to his Normal Retirement Date as determined under the qualified retirement or pension plan of the Company applicable to Employee, and within two years after any such early Retirement and without the Committee's approval Employee directly or indirectly provides management or executive services (whether as a consultant, advisor, officer or director) to any Person who is in direct and substantial competition with the air transportation business of the Company or its Subsidiaries, Employee shall be required to repay to the Company the cash value of any Shares and any cash which were vested at such early Retirement. The amount of such repayment shall be the closing price of the Company's common stock ("Common Stock") on the New York Stock Exchange ("NYSE") on the day that the Restriction on such Shares lapsed (or, in the event that no sale of the Common Stock takes place on the NYSE on such date, the closing price of the Common Stock on the NYSE on the immediately preceding date on which such a sale occurred) multiplied by the number of such Shares. Because of the broad and extensive scope of the Company's air transportation business, the restrictions contained in this provision are intended to extend to management or executive services which are directly related to the provision of air transportation services into, within, or from the United States, as no smaller geographical restriction will adequately protect the legitimate business interests of the Company.
Lapse of Restriction by Passage of Time. The Restriction shall lapse and have no further force or effect with respect to the Shares as follows: Twenty-Five Percent (25%) of the Shares herein granted (for up to ____________ shares) shall be free of the Restriction on or after ________________________; Twenty-Five Percent (25%) of the Shares herein granted (for up to ____________ shares) shall be free of the Restriction on or after ________________________; Twenty-Five Percent (25%) of the Shares herein granted (for up to _____________ shares) shall be free of the Restriction on or after ________________________; Twenty-Five Percent (25%) of the Shares herein granted (for up to _____________ shares) shall be free of the Restriction on or after ________________________.
Lapse of Restriction by Passage of Time. During employment, the Restriction on the Units will lapse and have no further force or effect on the third anniversary of the Grant Date. Subject to Sections 4 or 5 below, Units with respect to which the Restriction has lapsed shall be paid in the form of Shares on the third anniversary of the Grant Date (the “Delivery Date”).
Lapse of Restriction by Passage of Time. The Restriction shall lapse and have no further force or effect with respect to the Shares comprising this grant at the time or times set forth in the Notice of Grant. * This Agreement governs Awards made on or after July 1, 2017.
