Time-Based Shares. 1. The following Time-Based Shares have been, and will be, granted at the times and in the amounts, as follows: Date of Grant: Number of Time-Based Shares: October 12, 2006: 15,000 (previously granted) October 12, 2007: 15,000 (previously granted) October 12, 2008: 15,000 (previously granted) October 12, 2009: 15,000 (previously granted)* October 12, 2010: 30,000 Total: 90,000* ____________ * To be increased as described in Section 2 below.
Time-Based Shares. Measured from the effective time of the combination (through a subsidiary merger) of the Company (formerly known as Receptor Pharmaceuticals, Inc.) and Apoptos, Inc. (the “Vesting Measurement Date”), the Stockholder shall acquire a vested interest in sixty-two and one-half percent (62.5%) of the Shares (i.e., Five Hundred Thousand (500,000) shares of Common Stock — the “Time-Based Shares”), and the Repurchase Right shall lapse as to such Time-Based Shares, as follows (so long as the Stockholder continues to be a Service Provider to the Company):
Time-Based Shares. Termination by the Company without Cause, by Grantee for Good Reason, due to Death, Disability, non-renewal by the Company of the Employment Agreement. In the event of termination of Grantee’s employment with the Company by virtue of: 1) termination by the Company without Cause; 2) termination by Grantee for Good Reason; 3) Grantee’s death or Disability; or 4) non-renewal by the Company of the Employment Agreement, all the Time-Based Shares unvested at the time of such termination shall immediately vest.
Time-Based Shares. Measured from the commencement of the Stockholder’s employment with the Company on November 19, 2010 (the “Vesting Measurement Date”), the Stockholder shall acquire a vested interest in Two Million Six Hundred Ninety-One Thousand Seven Hundred Ninety-Seven (2,691,797) of the Shares (the “Time-Based Shares”), and the Repurchase Right shall lapse as to the Time-Based Shares, as follows (so long as the Stockholder continues to be a Service Provider to the Company):
Time-Based Shares. The Company hereby awards to you under the terms and conditions of this Agreement [#,###] shares of common stock. These shares are referred to in this Agreement as the "Time-Based Shares."
Time-Based Shares. In the event that the Participant’s service is terminated as a result of Participant’s death, Disability or Retirement, then any Time-Based Shares which are not Vested Shares shall become immediately vested and all restrictions shall lapse. For this purpose, “Disability” shall mean the permanent and total disability of the Participant within the meaning of Section 22(e)(3) of the Code, and “Retirement” shall mean if such Participant terminates his or her service on or after the earliest date upon which such Participant is eligible for Social Security retirement benefits.
Time-Based Shares. Fifty percent (50%) of the Restricted Stock will vest in two (2) separate tranches over four (4) years as follows: Vesting Date Number of Shares December 31, 2015 7.5% of total Award December 31, 2018 42.5% of total Award (b) Performance-Based Shares. Fifty percent (50%) of the Restricted Stock will be eligible to vest in two (2) separate tranches, seven and a half percent (7.5%) at the end of the one-year Performance Period ending on December 31, 2015, and forty-two and a half percent (42.5%) at the end of the three-year performance period ending on December 31, 2018, in each case based on the Performance Measures and goals for each such period set forth on Addendum A hereto. Each tranche will vest on the later of the last day of the Performance Period and the date the Committee determines in its discretion that the performance goals for that particular Performance Period have been met. If the performance goals for a particular Performance Period are not met, that tranche of Restricted Stock will be forfeited.
Time-Based Shares. Except as provided in Sections 4, 5 and 6 hereof, one-third (1/3) of the number of Time-Based Shares issued hereunder (rounded to the nearest whole Share, if necessary) shall vest, and the restrictions with respect to such Time-Based Shares shall lapse, on each of the first three (3) anniversaries of the Grant Date.
Time-Based Shares. The Restricted Period for the Time-Based Shares shall lapse with respect to (i) one-third (1/3) of the Time-Based Shares on the first anniversary of the Date of Grant, (ii) one-third (1/3) on the second anniversary of the Date of Grant and (iii) one-third (1/3) on the third anniversary of the Date of Grant, subject to the Participant’s continued employment with the Company on each applicable anniversary of the Date of Grant.
Time-Based Shares. Participant is hereby issued [_______] shares of Stock that are initially unvested and that will be eligible to vest in accordance with Section 4(a) of the Agreement (the “Time-Based Shares”).
