Unvested Equity. Walmart and the Associate acknowledge that the Associate currently has unvested restricted stock grants that have been granted to the Associate under the Wal-Mart Stores, Inc. Stock Incentive Plan of 2010 and predecessor equity compensation plans of Walmart (collectively the “Plan”), which such equity awards are subject to the award notices relating to such grants (the “Awards”). Subject to the approval of the appropriate committee of Walmart’s Board of Directors, as consideration for the releases set forth in Section 4 of this Agreement and for other good and sufficient consideration, the vesting of certain unvested restricted stock held by the Associate shall be accelerated to the Retirement Date, as set forth in Exhibit A. Such accelerated shares shall not be released to the Associate until the seven-day revocation period described in Section 4(b) has expired. All other terms of such restricted stock awards, including any deferral elections with respect to such awards, as set forth in the Plan and the Awards, shall continue in full force and effect. All other stock options, restricted stock awards, performance shares, and any other equity awards issued to the Associate under Walmart’s equity compensation plans that are not vested as of the Retirement Date shall be forfeited and cancelled as of the Retirement Date.
Unvested Equity. All equity interests that are unvested at the time Executive’s employment with the Company is terminated for any reason (after giving effect to the accelerated vesting provisions set forth herein whether applicable upon termination or within the time periods set forth herein) shall be forfeited and cancelled without consideration at the time Executive’s employment with the Company is terminated for any reason.
Unvested Equity. Notwithstanding any provision to the contrary in any applicable plan, program or agreement, all restricted stock or other equity incentive awards held by Executive will become fully vested and all stock options held by Executive will become fully exercisable.
Unvested Equity. All equity, other than as described in this Section 2(d), that vests after January 31, 2015, shall be forfeited.
Unvested Equity. Walmart and the Associate acknowledge that the Associate currently has unvested restricted stock grants that have been granted to the Associate under the Wal-Mart Stores, Inc. Stock Incentive Plan of 2015 and predecessor equity compensation plans of Walmart (collectively, the “Plan”), which such equity awards are subject to the award notices relating to such grants (the “Awards”). Certain of these shares of unvested restricted stock are scheduled to vest prior to the Retirement Date. Provided that the Associate continues to be employed by Walmart through the scheduled vesting dates and otherwise complies with the terms and conditions of such Awards, such Awards shall vest in accordance with their terms. In addition, certain shares of unvested restricted stock are scheduled to vest after the Retirement Date. Subject to the approval of the appropriate committee of Walmart’s Board of Directors, and subject to compliance with the terms and conditions of this Agreement, and specifically Sections 4(b)(iv), 5, 6, 7, 8, and 9, as consideration for the releases set forth in Section 4 of this Agreement and for other good and sufficient consideration, the vesting of certain shares of unvested restricted stock held by the Associate that are scheduled to vest after the Retirement Date shall be accelerated to the Retirement Date, as set forth in Exhibit A. All other terms of such restricted stock awards, including any deferral elections with respect to such awards, as set forth in the Plan and the Awards, shall continue in full force and effect. All other stock options, restricted stock awards, performance shares, and any other equity awards issued to the Associate under Walmart’s equity compensation plans that are not vested as of the Retirement Date shall be forfeited and cancelled as of the Retirement Date; provided, for the avoidance of doubt, that the shares of unvested restricted stock that will vest on the Retirement Date pursuant to this Section 2(b) shall be deemed vested as of the Retirement Date and shall not be forfeited and cancelled pursuant to this sentence.
Unvested Equity. In addition, in acknowledgement of the Executive’s forfeiture of certain equity grants from his former employer, on the Execution Date, the Company shall grant to Executive, pursuant to and in accordance with the Plan, a certain number of unvested restricted stock units and stock options valued (on the Execution Date) at approximately $1,411,000 (value to be recalculated on the Execution Date). The grant shall be in the form of 50% RSU’s and 50% stock options. Such restricted stock units and stock options shall vest and contain terms that are the same as the equity being forfeited provided such terms comply with the Plan. In the event of a termination of employment pursuant to Article 13(2) (a) (b) or (e), or Good Reason as defined in 10.4., such equity granted by the Company described in this paragraph shall become fully vested.
Unvested Equity. All unvested stock options and restricted stock units shall continue to vest through and until the Separation Date.
Unvested Equity. Walmart and the Associate acknowledge that the Associate currently has unvested restricted stock units that have been granted to the Associate under the Walmart Inc. Stock Incentive Plan of 2015 and predecessor equity compensation plans of Walmart (collectively, the “Plan”), which such equity awards are subject to the award notices relating to such grants (the “Awards”). As consideration for the releases set forth in Section 5 of this Agreement and for other good and sufficient consideration, the vesting of certain unvested restricted stock units held by the Associate shall be accelerated to the Retirement Date, as set forth in Exhibit A. All other terms of such restricted stock unit awards, as set forth in the Plan and the Awards, shall continue in full force and effect. All other stock options, restricted stock awards, performance shares, performance equity, and any other equity awards issued to the Associate under Walmart’s equity compensation plans that are not vested as of the Retirement Date shall be forfeited and cancelled as of the Retirement Date. As set forth in Section 2(b) above, all outstanding performance shares and performance equity held by the Associate shall be cancelled and shall not vest.
Unvested Equity. Xxx understands that except as provided in Section 2(b) any unvested stock options or restricted stock units granted to him by Zynga during his employment will cease vesting on his Separation Date and will be forfeited, and that Zynga will cancel any such grants. Xxx understands that he will have three (3) months from the Separation Date to exercise any vested stock options and that if he has not exercised before the end of this period, any vested, but unexercised, options will expire.
Unvested Equity. As of the Effective Date, the equity awards previously awarded to Employee that remain unvested as set forth on Schedule B attached hereto and made a part hereof shall be forfeited by Employee. Within fifteen (15) days after Employee first executes this Agreement & Release, the Company shall pay to Employee the amount of $62,500 in consideration for forfeiting and cancelling all such unvested awards and Employee shall have no rights to any of such awards. Employee and the Company agree to execute any and all documents necessary to accomplish the forfeiture and cancellation of such awards. Nothing in this Agreement & Release is intended to diminish or alter any rights Employee may have in any vested equity awards (e.g. stock and/or stock options) that vested and became non-forfeitable prior to the Effective Date.
