Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee's right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of 6,000 of the Common Shares covered by this agreement after Grantee CL: 520453v2 shall have been in the continuous employ of the Company or a subsidiary for one full year from the Date of Grant and to the extent of an additional 6,000 thereof after each of the next three successive years thereafter and 26,000 thereof in the fifth year during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, "subsidiary" shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries.
Vesting of Common Shares. Subject to Section 3 hereof, the Common Shares vest as follows, provided that the Participant remains employed by the Company: 30,000 shares on January 14, 2013, 30,000 shares on January 14, 2014, 30,000 shares on January 14, 2015, 30,000 shares on January 14, 2016, and 30,000 shares on January 14, 2017.
Vesting of Common Shares. In the event the Employee does not make an 83(b) Election and the Common Shares are no longer subject to repurchase by the Company pursuant to Section 2.1, the Employee shall remit to the Company an amount which the Company determines is necessary to satisfy any obligation of the Company to withhold federal, state and local taxes or other amounts incurred by reason of the Common Shares no longer being subject to repurchase.
Vesting of Common Shares. Subject to Section 3 hereof, the Common Shares vest ratably over a five year period commencing on the first anniversary of the date hereof and vest in full as of the end of the fifth fiscal year following the date such Common Shares were issued to the Participant, provided that the Participant remains employed by the Company.
Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee's right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of one-quarter (1/4) of the Common Shares covered by this agreement after Grantee shall have been in the continuous employ of the Company or a subsidiary for one full year from the Date of Grant and to the extent of an additional one-quarter (1/4) thereof after each of the next three successive years thereafter during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, "subsidiary" shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries. (b) Notwithstanding the provisions of Section 3(a) hereof, Grantee's right to receive the Common Shares covered by this agreement shall become nonforfeitable, if the Company should terminate Grantee's employment without cause or if Grantee should die or become permanently disabled while in the employ of the Company or any subsidiary, or if Grantee should retire with the Company's consent. For purposes of this agreement, retirement "with the Company's consent" shall mean: (i) the retirement of Grantee prior to age 62 under a retirement plan of the Company or a subsidiary, if the Board or the Committee determines that his retirement is for the convenience of the Company or a subsidiary, or (ii) the retirement of Grantee at or after age 62 under a retirement plan of the Company or a subsidiary. For purposes of this agreement, "permanently disabled" shall mean that Grantee has qualified for disability benefits under a disability plan or program of the Company or, in the absence of a disability plan or program of the Company, under a government-sponsored disability program. For purposes of this Agreement, "cause" shall refer to termination of employment by the Company in reliance on a material act or omission of Grantee. (c) Notwithstanding the provisions of Section 3(a) hereof, Grantee's right to receive the Common Shares covered by...
Vesting of Common Shares. (a) Subject to Section 3 hereof:
Vesting of Common Shares. Subject to Section 3 hereof, the Common Shares vest as follows, provided that the Participant remains employed by the Company: __________ Common Shares on December 31, 2012; __________ Common Shares on December 31, 2013; and _________ Common Shares on December 31, 2014.
Vesting of Common Shares. (a) [Either [Subject to Section 3 hereof, the Common Shares shall vest as follows 0%, ; 0%, ; 33.3%, ; 33.3%, ; 33.3%, and be fully vested by the end of the fifth fiscal year following the date hereof (“Vesting Period”). ] or [Subject to Section 3 hereof, a percentage, if any, of the Common Shares, as determined under this Section 2, shall vest as of the end of the end of each fiscal year, beginning with the fiscal year ending [ ], until the Common Shares are fully vested (the “Vesting Period”). The percentage of the Common Shares that vests annually hereunder shall equal two (2) times the annual percentage increase, if any, in the Company’s cash available for distribution (“CAD”) at the end of any fiscal year ending after the date hereof, provided that the annual percentage increase exceeds a threshold growth rate of two percent (2%) (“Threshold CAD”). In the event the annual percentage increase does not exceed the Threshold CAD, the percentage of shares that vests as of the end of such fiscal year shall be zero.] or [Subject to Section 3, hereof, the Common Shares vest ratably over a five year period commencing on the first anniversary of the date hereof and vest in full as of the end of the fifth fiscal year following the date such Common Shares were issued to the Participant.] or [Subject to Section 3 hereof, the Common Shares shall vest in full as of the end of the fifth fiscal year following the date hereof, provided that upon the attainment of certain Performance Criteria (hereinafter defined) in any fiscal year of the Company during the four-year period commencing with [ ] (the “Performance Period”), one-fifth ( 1/5) of such Common Shares shall vest as of the end of such fiscal year (or at such time as otherwise provided in Section 2(b)(i) hereof) (the “Vesting Period”). In no event will more than one-fifth of such Common Shares vest with respect to the satisfaction of Performance Criteria for any one fiscal year.
Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 4(b), 4(c) and 5 hereof, Grantee's right to receive the Common Shares covered by this Agreement shall become nonforfeitable to the extent of one-fourth of the Common Shares covered by this Agreement as of [April 30, 20__], and an additional one-fourth thereof shall become nonforfeitable on each of [April 30, 20__, April 30, 20__ and April 30, 20__] if the Grantee shall have been in the continuous employ of the Company or a Subsidiary through such applicable date. For purposes of this agreement, the continuous employment of Grantee with the Company or a Subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a Subsidiary, by reason of the transfer of his employment among the Company and its Subsidiaries.
Vesting of Common Shares. (a) Subject to Section 3 hereof, the Common Shares shall become earned and vested as follows: one-fifth of such Common Shares shall be earned upon the attainment of certain Performance Criteria (hereinafter defined) in any fiscal year of the Company during the five-year period commencing with January 1, 2007 (or at such time as otherwise provided in Section 2(b)(i) hereof) (the “Performance Period”); and the Common Shares earned pursuant to the preceding clause shall vest in full as of December 31, 2011, provided that the Participant is then employed by the Company (the “Vesting Period”). In no event will more than one-fifth of such Common Shares become earned with respect to the satisfaction of Performance Criteria for any one fiscal year.
