Common use of Vesting and Payment of Restricted Stock Units Clause in Contracts

Vesting and Payment of Restricted Stock Units. The Restricted Stock Units shall be entirely Vested on the Vesting Date as specified in the Acceptance, conditioned upon Employee’s continued employment with the Company through and including the Vesting Date during the Restricted Period. Within a reasonable period of time following the occurrence of the Vesting Date, the Company shall pay and transfer to Employee a number of shares of Stock equal to the aggregate number of Restricted Stock Units that Vested on such Vesting Date. In the event that Employee’s employment with the Company terminates prior to the end of the Restricted Period for any reason other than the occurrence of an Acceleration Event, any portion of Restricted Stock Units that has not then become Vested shall be forfeited automatically. Notwithstanding the foregoing, and consistent with Section 9 of the Plan, upon the occurrence of an Acceleration Event, any Restricted Stock Units that were not Vested prior to the occurrence of such Acceleration Event shall immediately become Vested, and the Company, within a reasonable period of time after such Acceleration Event, shall pay and transfer to Employee a number of shares of Stock equal to the number of such Restricted Stock Units with respect to which vesting is accelerated hereunder.

Vesting and Payment of Restricted Stock Units. The Restricted Stock Units shall be entirely Vested in 25% increments each year of the Restricted Period on the February 3rd (each such date, a “Vesting Date as specified in the AcceptanceDate”), conditioned upon Employee’s continued employment with the Company through and including the as of each Vesting Date during the Restricted Period. , all according to the following schedule: Date Percentage of Vested Units Prior to February 3, 2009 0 % February 3, 2009 25 % February 3, 2010 50 % February 3, 2011 75 % February 3, 2012 100 % Within a reasonable period of time following the occurrence end of the each Vesting Date, Date the Company shall pay and transfer to Employee a number of shares of Stock equal to the aggregate number of Restricted Stock Units that Vested on such Vesting Date. In the event that Employee’s employment with the Company terminates prior to the end of the Restricted Period for any reason other than the occurrence of an Acceleration Event, any portion of Restricted Stock Units that has not then become Vested shall be forfeited automatically. Notwithstanding the foregoing, foregoing and consistent with Section 9 of the Plan, upon the occurrence of an Acceleration Event, any Restricted Stock Units that were not Vested prior to the occurrence of such Acceleration Event shall immediately become Vested, and the Company, within a reasonable period of time after such Acceleration Event, shall pay and transfer to Employee a number of shares of Stock equal to the number of such Restricted Stock Units with respect to which vesting is accelerated hereunder.