Restricted Stock and Restricted Stock Units. All unvested restricted stock and/or restricted stock units held by the Executive as of the Date of Termination shall automatically vest (and be settled in the case of restricted stock units) as of the Date of Termination. In the case of restricted stock and restricted stock units having performance-based vesting conditions, such automatic vesting shall be calculated based on one hundred percent (100%) satisfaction of all performance goals. All such vested and settled shares shall be delivered to the Executive free of restrictions, subject to applicable tax withholding.
Appears in 3 contracts
Sources: Severance Compensation Agreement (Newport Corp), Severance Compensation Agreement (Newport Corp), Severance Compensation Agreement (Newport Corp)