Vesting and Forfeiture Provisions Sample Clauses

Vesting and Forfeiture Provisions. (i) Except as otherwise provided in Sections 2(ii), 2(iii), or 2(iv) of this Agreement, at such time as the Participant is no longer serving for any reason as an officer, director, or employee of the Company or any subsidiary of the Company, the Participant shall forfeit the right to delivery of any further Shares.
AutoNDA by SimpleDocs
Vesting and Forfeiture Provisions. (a) The Employee’s Restricted Stock will vest as to 100% of the shares on July 8, 2011
Vesting and Forfeiture Provisions. (a) Any earned RSUs will be subject to further vesting as follows: one-third of the RSUs that have been earned will vest on the date the Compensation Committee determines the achievement of the performance goals for (the “Determination Date”) and one-third of the RSUs that have been earned will vest on each of the first and second anniversaries of the Determination Date; provided that the Participant has been continuously employed or otherwise providing services to such date. Within three (3) business days of each vesting date set forth in the prior sentence, the Company will issue one share of Common Stock in satisfaction of each vested RSU. All shares of Common Stock will be issued in book entry form only, in the name of the Participant.
Vesting and Forfeiture Provisions. (a) The Employee’s Restricted Stock will vest in accordance with the following schedule:
Vesting and Forfeiture Provisions. Each Compensation Plan Agreement shall include customary provisions and shall provide, among other things, that: (1) the Qualified Employee’s right, title and interest in any shares of Parent Common Stock which constitute QE Stock Compensation shall vest not more quickly than (a) twenty-five fifty percent (25%) of such shares of Parent Common Stock shall vest on the date which is six (6) months after the Closing Date, (b) twenty-five percent of such shares of Parent Common Stock shall vest on the date which is twelve (12) months after the Closing Date, (c) twenty-five percent (25%) of such shares of Parent Common Stock shall vest on the date which is eighteen (18) months after the Closing Date, and (d) twenty-five percent (25%) of such shares shall vest on the date which is twenty-four months after the Closing Date; (2) any New Options issued to any Qualified Employee under such agreement shall vest not more quickly than fifty percent (50%) on the date which is twenty-four (24) months after the Closing Date and fifty percent (50%) on the date which is thirty-six (36) months after the Closing Date; (3) the QE Stock Compensation shall be subject to certain restrictions on transfer under applicable law and shall bear appropriate legends to such effect; and (4) upon the occurrence of any Forfeiture Event, the Qualified Employee shall have the right to receive only that portion of such shares of Parent Common Stock or to exercise only such New Options as to which his or her right, title has vested and shall forfeit and have no further right to receive any unvested shares of Parent Common Stock or to exercise any unvested New Options. For the purposes hereof, “
Vesting and Forfeiture Provisions 

Related to Vesting and Forfeiture Provisions

  • Vesting and Forfeiture Any Award which has become payable pursuant to the performance measures set forth in Section 4 shall be considered as fully earned by you, subject to the further provisions of this Section 3. Notwithstanding any other provision of this Award Agreement to the contrary, any Award will be forfeited back to Tyson in the event of: (i) your Termination of Employment before the Vesting Date, except as otherwise provided in Sections 3.2 through 3.4, or (ii) the failure to satisfy any of the performance measures provided in Section 4.

  • Forfeiture Provisions A. During the period the retirement benefit is payable to the Director under Section 1 of this Agreement, the Director shall not engage in business activities which are in competition with the Association without first obtaining the written consent of the Association.

  • Forfeiture Provision The Executive shall forfeit any unpaid benefit hereunder, if the Executive, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company):

  • Vesting and Lapse of Restrictions Subject to Sections 2.2(a) and 2.2(c), the Award shall vest and Restrictions shall lapse in accordance with the vesting schedule set forth on the Grant Notice.

  • Vesting Provisions The Options shall become exercisable in five equal installments on each of the first five anniversaries of the Grant Date, subject to the Employee’s continuous employment with Holding or any Subsidiary from the Grant Date to such anniversary.

  • Restrictions and Forfeiture (i) All Class B Units when issued shall be subject to forfeiture and shall constitute “Restricted Class B Units” and shall remain subject to forfeiture as provided in this Section 16.2(a) until the requirements of this Section 16.2(a) have been satisfied.

  • Vesting and Exercisability (a) No portion of this Stock Option may be exercised until such portion shall have vested.

  • Expiration of Restrictions and Risk of Forfeiture Unless otherwise provided in Section 7 below, the restrictions on the Restricted Stock Units granted pursuant to this Agreement, including the Forfeiture Restrictions, will expire on September 30, 2014, and shares of Stock that are nonforfeitable and transferable will be issued to you in payment of your vested Restricted Stock Units as set forth in Section 5, provided that you remain in the continuous employ of, or a service provider to, the Company or its Subsidiaries until September 30, 2014.

  • Vesting; Forfeiture Subject to the terms and conditions of this Agreement and provided that the Participant continues to provide services until the Vesting Date (as defined below):

  • Lapse of Forfeiture Restrictions The Forfeiture Restrictions shall lapse as to the Restricted Shares in accordance with the following schedule provided that Employee has been continuously employed by the Company or a Subsidiary or Affiliate from the date of this Agreement through the lapse date. Date Percentage of Total Number of Restricted Shares as to Which Forfeiture Restricted Lapse May 15, 2004 16 % May 15, 2005 18 % May 15, 2006 20 % May 15, 2007 22 % May 15, 2008 24 % Notwithstanding the foregoing, the Forfeiture Restrictions shall lapse as to all of the Restricted Shares on the earlier of (i) the occurrence of a Change of Control (as such term is defined in the Plan), or (ii) the date Employee's employment with the Company, its Subsidiaries and Affiliates is terminated for any reason other than a termination by the Employee's employer for "Cause" or a voluntary termination by the Employee. In the event Employee's employment is terminated for any reason, the Compensation Committee of the Board (the "Committee"), may, in the Committee's sole discretion, approve the lapse of Forfeiture Restrictions as to any or all Restricted Shares still subject to such restrictions, such lapse to be effective on the date of such approval or Employee's termination date, if later. To the extent that any Restricted Shares are vested solely as a result of the Employee's termination of employment pursuant to the foregoing, such shares shall be subject to a right of first refusal in favor of the Company with respect to all (but not less than all) of such shares in the event the Employee proposes to sell or otherwise transfer such shares to any other person. The Employee shall notify the Company prior to any such transfer (and in the absence of such prior notice any such transfer shall be void). The Company's right of repurchase shall be exercisable with respect to such shares within the thirty (30) day period following the date the Employee gives notice to the Company of the proposed transfer. The purchase price of the shares repurchased by the Company hereunder shall be "Fair Market Value" (as defined in the Plan). If the Company exercises its right of first refusal, the sale shall be consummated within five (5) days of the date the Company elects to exercise its right.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!