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.
Vesting Provisions. Except as otherwise provided in Section 5 below, you will not be entitled to exercise the Option (and purchase any Option Shares) prior to December 31, 2004. Commencing on December 31, 2004, you shall become entitled to exercise the Option (rounded to the nearest whole share) in accordance with the following schedule, until the Option expires and terminates pursuant to Section 2 hereof:
Vesting Provisions. Subject to the provisions of paragraph 3 below, the Option shall vest 33⅓% on each of July 31, 2023, July 31, 2024 and July 31, 2025, except as follows:
Vesting Provisions. Elective contributions are always fully vested and nonforfeitable. The Plan shall disregard elective contributions in applying the vesting provisions of the Plan to other contributions or benefits under Code section 411(a)(2). However, the Plan shall otherwise take a Participant’s elective contributions into account in determining the Participant’s vested benefits under the Plan. Thus, for example, the Plan shall take elective contributions into account in determining whether a Participant has a nonforfeitable right to contributions under the Plan for purposes of forfeitures, and for applying provisions permitting the repayment of distributions to have forfeited amounts restored, and the provisions of Code sections 410(a)(5)(D)(iii) and 411(a)(6)(D)(iii) permitting a plan to disregard certain service completed prior to breaks-in-service (sometimes referred to as “the rule of parity”).
Vesting Provisions. Notwithstanding the provisions of Section 6.3, with respect to any Plan Year in which this Plan is determined to be a Top-Heavy Plan, a Participant's Accrued Benefit which is derived from Company Contributions shall vest in accordance with the following vesting schedule if it would result in a larger vested percentage than the percentage determined under Section 6.3: Period of Service Vested Percentage Less than two (2) years 0 Two (2) years or more but less than three (3) years 20% Three (3) years or more but less than four (4) years 40% Four (4) years or more but less than five (5) years 60% Five (5) years or more but less than six (6) years 80% Six (6) years or more 100% provided, however, that if this Plan becomes a Top-Heavy Plan and subsequently ceases to be such:
Vesting Provisions. Except as provided in Section 5 below, you will not be entitled to exercise the Option (and purchase any Option Shares) prior to February 9, 1999. Commencing on February 9, 1999, and on each of the three succeeding anniversaries of that date on which you shall continue to serve as a director of the Company or any subsidiary or parent thereof, you shall become entitled to exercise the Option with respect to 25% of the Option Shares (as the same may be adjusted from time to time pursuant to Section 12 below, and rounded to the nearest whole share) until the Option expires and terminates pursuant to Section 2 hereof.
Vesting Provisions. This Option has been granted from the Plan, effective as of the Date of Grant and will vest as follows:
Vesting Provisions. For purposes of this Warrant and this Appendix 1, the following terms shall have the following meanings:
Vesting Provisions. [The Option shall be deemed vested and exercisable with respect to Shares as of the Date of Grant.] Except as otherwise provided in any other written agreement between Optionee and the Company, the [remaining] Shares shall vest and become exercisable in equal annual installments of Shares each on an anniversary of the Date of Grant, such that, from and after the anniversary of the Date of Grant, the Option shall be vested as to all of the Shares and fully exercisable, subject to Optionee’s continued service as an employee, director or consultant to the Company or any subsidiary on each such vesting date. These installments shall be cumulative, such that Optionee may exercise the Option as to any or all of the Shares covered by any installment at any time or times after such installment vests and prior to termination of the Option. The foregoing notwithstanding, except as otherwise provided herein or in any other written agreement between Optionee and the Company, the Option shall cease vesting upon the termination of Optionee’s status as an employee, director or consultant the Company and its subsidiaries for any reason. For purposes of this Agreement, Optionee’s continuous service to the Company shall not be deemed to have terminated merely because of a change in the capacity in which Optionee renders service to the Company or any subsidiary as an employee, consultant or director, provided that there is no interruption or termination of Optionee’s continuous service to the Company or any subsidiary. For example, a change in status from an employee of the Company to a consultant of the Company will not constitute an interruption of Optionee’s continuous service. A leave of absence from employment taken with the consent of the Company shall not be considered a termination of employment for purposes of this Agreement.
Vesting Provisions. (a) The shares of Restricted Stock shall vest as follows: 50% of the Restricted Stock shall vest on the first anniversary of the Grant Date and 50% of the Restricted Stock shall vest on the second anniversary of the Grant Date; provided, that no shares of Restricted Stock shall vest unless on such vesting date the Recipient has, since the Grant Date, continuously provided Services to the Company.
