Vesting of Restricted Stock Awards. In the event of the Participant’s death after the date Participant becomes Retirement Eligible, any and all unvested shares of Stock under this Award Agreement shall become automatically fully vested. In the event the Participant voluntarily terminates employment or terminates employment due to Disability following the date he becomes Retirement Eligible, subject to the provisions of Section 9, the Participant shall be eligible to continue to vest in accordance with the Vesting Schedule provided that (i) the Participant is continuously employed as a full-time employee through the one-year anniversary of the Date of Grant, (ii) the Participant complies with the requirements set forth in Section 8 below at all times during the remainder of the Vesting Schedule and (iii) the
Vesting of Restricted Stock Awards. In the event of the Participant’s death after the date Participant becomes Retirement Eligible, any and all unvested shares of Stock under this Award Agreement shall become automatically fully vested. In the event the Participant voluntarily terminates employment or terminates employment due to Disability following the date he becomes Retirement Eligible, subject to the provisions of Section 17, the Participant shall be eligible to continue to vest in accordance with the Vesting Schedule provided that (i) the Participant is continuously employed as a full-time employee through the one-year anniversary of the Date of Grant, (ii) the Participant complies with the requirements set forth in Section 16 below at all times during the remainder of the Vesting Schedule and (iii) the Participant executes and delivers to the Company a compliance certificate in the form attached hereto as Exhibit B indicating the Participant’s full compliance with Section 16 on or before November 1 of each year during the remainder of the Vesting Schedule. For purposes of this Award Agreement, “Retirement Eligible” shall mean the date the Participant both (i) attains age 55 and (ii) has 15 or more continuous years of service as a full-time employee of the Company or a Subsidiary. The Committee, in its sole discretion, may elect to accelerate the vesting for all or any part of the shares subject to the Restricted Stock Award for which the applicable Vesting Date(s) has not yet occurred on the date of the Participant’s termination of employment if such termination occurs by reason of death, termination of employment due to a Disability, or Retirement.”
Vesting of Restricted Stock Awards. In the event that Executive continues to be employed with the Company through August 15, 2008, the vesting schedule of each of Executive’s then-outstanding and unvested restricted stock awards shall be adjusted, effective as of August 15, 2008, as follows: · The next annual installment that is scheduled to vest under the original vesting schedule after August 15, 2009 shall be divided into twelve (12) substantially equal monthly installments, with the first such installment being scheduled to vest on August 15, 2009 and an additional installment vesting on the 15th day of each month thereafter through July 15, 2010. · Each subsequent annual installment under the original vesting schedule (if any) shall be divided into twelve (12) substantially equal monthly installments, with the first such monthly installment being scheduled to vest on the August 15 that precedes the date such annual installment was originally scheduled to vest and the last such monthly installment being scheduled to vest on the July 15 that follows the date such annual installment was scheduled to vest under the original schedule. Except as expressly set forth in this Paragraph 7(f) and Paragraph 8 below, this Agreement does not modify any other terms of such restricted stock awards.
Vesting of Restricted Stock Awards. The fourth paragraph of the fourth bullet point of Exhibit A shall be revised as indicated below: In the event of termination of Employee’s employment: (i) without Cause or for Good Reason following a Change in Control; (ii) due to resignation with Cause as described in
Vesting of Restricted Stock Awards. Notwithstanding any provision in the terms of any incentive compensation plan or agreement or otherwise to the contrary, Executive shall vest in the 10,952 shares of restricted stock that are subject to The Xxxxx Corporation Restricted Stock Agreement dated January 1, 1998 (the “Restricted Stock Agreement”) in the event a Change in Control occurs prior to July 1, 2007. In the event a Change in Control does not occur prior to July 1, 2007, such shares will be immediately forfeited without consideration on July 1, 2007.
Vesting of Restricted Stock Awards. The Company will accelerate vesting of a portion of Employee’s unvested restricted stock awards (“Restricted Stock”) as shown on Exhibit 1 hereto, such that a total of 54,686 shares of Restricted Stock shall become fully vested on the day immediately preceding the closing date of the transactions contemplated by the asset purchase agreement between the Company and Real Time, Inc. Employee shall satisfy all taxes resulting from the vesting of such Restricted Stock by authorizing the Company to withhold an amount equal to such taxes from the following sources in the following order: any dividends previously accrued and payable with respect to such vested Restricted Stock as reflected on Exhibit 1 hereto, the Annual Bonus payable pursuant to Section 2(b), and/or the Separation Payments payable pursuant to Section 2(a).
Vesting of Restricted Stock Awards. As additional consideration for Kxxxxx agreeing to the terms of this Agreement and Release, all unvested Restricted Stock shares held by Kxxxxx , notwithstanding their terms, vested in full as of the Separation Date and become non-forfeitable (the “RSA Vesting”). Kxxxxx shall be solely responsible for the taxes due in connection with the RSA Vesting and agrees to timely pay all such taxes due, and U.S. Energy has not provided Kxxxxx any tax or other advice whatsoever in connection with the RSA Vesting. Separation and Release Agreement
