Common use of Lapse of Forfeiture Restrictions (Vesting) Clause in Contracts

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) Employee has been continuously employed by the Company from the Date of Grant through the _____th of February, 2024 (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined on Exhibit A shall become vested. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for each vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Expro Group Holdings N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) Employee has been continuously employed by the Company from the Date of Grant through the _____ of _th of February, 2024 ___________________ 20__ (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined on Exhibit A shall become vested. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for each vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Expro Group Holdings N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) Employee has been continuously employed by the Company from the Date of Grant through the _____th 22nd of February, 2024 (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined on Exhibit A shall become vested. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for each vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Employee Restricted Stock Unit (Rsu) Agreement (Expro Group Holdings N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) that Employee has been continuously employed by the Company from the Date of Grant through the _____th of February, 2024 _______________ (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B the Retention Agreement and the Employee Confidentiality and Restrictive Covenant Agreement, each dated ____________________ between Employee and the Company (the “Retention and Confidentiality Agreements”) and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined will vest, on Exhibit A shall become vestedthe Lapse Date. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for on the date each RSU is scheduled to become vested Restricted Stock Unit under this Section 3(b). Except as soon as practicable after the Lapse provided in Subsection (Vestingc) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any below, any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Employee Restricted Stock Unit Agreement (Frank's International N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) that Employee has been continuously employed by the Company from the Date of Grant through the _____th of February, 2024 (the scheduled Lapse (Vesting) Date”), (ii) Date set forth in the Company attains the Performance Criteria as described on Exhibit Afollowing schedule, and (iii) Employee is in compliance with Exhibit B A and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: Percentage of Total Number of RSUs as determined on Exhibit A shall become vested. to Which Lapse (Vesting) Date Forfeiture Restrictions Lapse [TBD] [TBD] Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for on the date each RSU is scheduled to become vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Periodunder this Section 3(b). Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Employee Restricted Stock Unit (Rsu) Agreement (Frank's International N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) Employee has been continuously employed by the Company from the Date of Grant through the _____th 22nd of February, 2024 2025 (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined on Exhibit A shall become vested. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for each vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Expro Group Holdings N.V.)

Lapse of Forfeiture Restrictions (Vesting). Provided that: (i) Employee has been continuously employed by the Company from the Date of Grant through the _____th of February, 2024 2023 (the scheduled “Lapse (Vesting) Date”), (ii) the Company attains the Performance Criteria as described on Exhibit A, and (iii) Employee is in compliance with Exhibit B and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the number of Restricted Stock Units as determined on Exhibit A shall become vested. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee for each vested Restricted Stock Unit as soon as practicable after the Lapse (Vesting) Date but in no event later than seventy-five (75) days after the end of the Performance Period. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Expro Group Holdings N.V.)