Restrictions and Vesting Period Clause Samples

The "Restrictions and Vesting Period" clause defines the limitations placed on certain rights or assets, such as shares or stock options, and specifies the timeline over which ownership or access to these assets becomes fully granted. Typically, this clause outlines conditions under which the recipient cannot sell, transfer, or exercise the asset until a predetermined vesting schedule is met, such as earning a percentage of shares each year over a four-year period. Its core function is to incentivize long-term commitment and performance, while protecting the granting party from immediate forfeiture or transfer of valuable assets.
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Restrictions and Vesting Period. The grant is contingent upon your continuing employment with GATX for a period of eighteen (18) months from the Grant Date (the "Vesting Period"). During the Vesting Period, neither the Phantom Restricted Stock Rights, nor the shares of Phantom Restricted Common Stock may not be pledged, assigned, sold, transferred or otherwise encumbered. Assuming you have satisfied the requirements stated in the first two sentences of this section, upon the expiration of the Vesting Period, shares of common stock of GATX Corporation ("Common Stock") equal in number to the number of Phantom Restricted Stock Rights granted hereunder will be distributed to you, free of all restrictions in exchange for your shares of Phantom Restricted Common Stock.
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Restrictions and Vesting Period. The grant is contingent upon your continuing employment with GATX through the Vesting Period. Your Phantom Restricted Stock will lapse in thirds over the Vesting Period. One-third will lapse on the first anniversary of the grant date; one-third will lapse on the second anniversary of the grant date and one-third will lapse on the third anniversary of the grant date. During the Vesting Period, neither the Phantom Restricted Stock Rights, nor the shares of Phantom Restricted Common Stock may not be pledged, assigned, sold, transferred or otherwise encumbered. Assuming you have satisfied the requirements stated in the first two sentences of this section, upon the expiration of each Vesting Period, shares of common stock of GATX Corporation ("Common Stock") equal in number to the number of Phantom Restricted Stock Rights granted hereunder will be distributed to you, free of all restrictions in exchange for your shares of Phantom Restricted Common Stock.
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Restrictions and Vesting Period 
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Related to Restrictions and Vesting Period

  • Restriction Period and Vesting (a) The restrictions on the Award shall lapse on the earliest of the following: (i) with respect to one-fifth of the aggregate number of shares of Stock subject to the Award on February 19, 1998 and as to an additional one-fifth of such aggregate number of shares on each anniversary thereof during the years 1999 through 2002, inclusive, or (ii) in accordance with Section 6.8 of the Plan (the "Restriction Period"). (b) If the Holder's employment with the Company is terminated by the Company during the Restriction Period or by reason of the Holder's "Permanent and Total Disability" (as such term is defined in the Plan), or by reason of the Holder's voluntary resignation or retirement or his death, then any shares of Stock as to which restrictions have not lapsed shall be forfeited.

  • Restricted Period; Vesting Except as otherwise provided in the Plan and the Agreement and provided that the Grantee provides continuous services to TeleTech through each applicable vesting date, the RSUs will vest and the corresponding shares of Common Stock of the Company (or cash equivalent) will be issued in accordance with the following schedule: [DATE] 25% RSUs to vest on this vesting date [DATE] 25% RSUs to vest on this vesting date [DATE] 25% RSUs to vest on this vesting date [DATE] 25% RSUs to vest on this vesting date The period during which the RSUs remain unvested and forfeitable is referred to as the “Restricted Period”. a. The unvested portion of the RSU Award shall be forfeited immediately upon the termination of the Grantee’s services to TeleTech for any reason, including separation, death, disability or any other reason where the Grantee no longer is providing services to TeleTech, and the Company nor its Affiliates shall have any further obligations to the Grantee under this Agreement for such forfeited RSUs. b. Pursuant to the delegation of the Compensation Committee of the Board, the executive leadership team of the Company (the “Executive Committee”), in its sole discretion, shall have the authority to determine the effect of all matters and questions with respect to Grantee’s termination of affiliation with TeleTech and whether continuous services are being provided as these matters relate to RSU Award vesting, including, without limitation, the question of whether a termination of service has occurred, whether a leave of absence or disability constitute a termination of service and other similar questions. c. For purposes of the Plan and this Agreement, a Grantee’s status as an employee, director or consultant of TeleTech shall be deemed to be terminated in the event that the Company’s subsidiary employing or contracting with such Grantee ceases to be a Company subsidiary following any merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off).

  • 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 Period The vesting period of the Restricted Stock (the “Vesting Period”) begins on the Grant Date and continues until such date as is set forth on Schedule A as the date on which the Restricted Stock is fully vested. On the first Annual Vesting Date following the date of this Agreement and each Annual Vesting Date thereafter the number of shares of Restricted Stock equal to the Annual Vesting Amount shall become vested, subject to earlier forfeiture as provided in this Agreement. To the extent that Schedule A provides for amounts or schedules of vesting that conflict with the provisions of this paragraph, the provisions of Schedule A will govern. Except as permitted under Section 10, the shares of Restricted Stock for which the applicable Vesting Period has not expired may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (whether voluntary or involuntary or by judgment, levy, attachment, garnishment or other legal or equitable proceeding). The Employee shall not have the right to receive cash dividends paid on shares of Restricted Stock for which the applicable Vesting Period has not expired. In lieu thereof, the Employee shall have the right to receive from the Company an amount, in cash, equal to the cash dividends payable on shares of Restricted Stock for which the applicable Vesting Period has not expired, provided the Employee is employed by the Company on the payroll date coinciding with or immediately following the date any such cash dividends are paid on the Restricted Shares. The Employee shall have the right to vote the Restricted Stock, regardless of whether the applicable Vesting Period has expired.

  • Restriction Period The Restriction Period with respect to each Restricted Stock Unit is the time between the Grant Date and the date such Restricted Stock Unit vests.