Vesting; Expiration of Restrictions Clause Samples

Vesting; Expiration of Restrictions. (i) Subject to the limitations contained in subparagraphs (c)(ii), (c)(iii) and (c)(iv) below, the Restricted Stock shall vest, and the Restrictions shall expire (such vesting and expiration and lapse of Restrictions, the “Vesting”): (1) For all shares of Restricted Stock granted in respect of Tendered Options that would have been vested through December 31, 2002, had such Tendered Options not been exchanged for Restricted Stock (the “Vested Options”), in equal installments on February 15, 2003 (the “First Installment Date”), May 15, 2003 (the “Second Installment Date”), August 15, 2003 (the “Third Installment Date”), November 15, 2003 (the “Fourth Installment Date”), February 15, 2004 (the “Fifth Installment Date”) and March 15, 2004 (the “Sixth Installment Date”). The First, Second, Third, Fourth, Fifth and Sixth Installment Dates are collectively referred to as the “Installment Dates” or individually as the “Installment Date.” (2) All shares of Restricted Stock granted in respect of Tendered Options that are not Vested Options and would have vested as of December 31, 2003 if such Tendered Options had not been exchanged for Restricted Stock (the “2003 Options”), shall vest, and the Restrictions thereon shall expire and lapse, over the same number of quarters of 2004 over which such 2003 Options would have vested had the 2003 Options not been exchanged, and the vesting dates for each applicable quarter shall be on the Fifth Installment Date, the Sixth Installment Date and on August 15, 2004 and November 15, 2004. (3) All shares of Restricted Stock granted in respect of Tendered Options that are neither Vested Options nor 2003 Options and which would have fully vested during 2004 (the “2004 Options”) had such 2004 Options not been exchanged for Registered Stock shall vest, and the Restrictions thereon shall expire and lapse, in equal installments on the Fifth Installment Date, the Sixth Installment Date and on the 15th of August 15, 2004 and November 15, 2004. (4) All shares of Restricted Stock granted in respect of Tendered Options other than Vested Options, the 2003 Options or the 2004 Options and which would have fully vested during 2005 (the “2005 Options”) shall vest, and the Restrictions thereon shall expire and lapse, in equal installments on the 15th of each February, May, August and November, starting in 2005, over the duration of the remaining original vesting period of the exchanged or cancelled 2005 Options, such that the Restricted Stock excha...
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Related to Vesting; Expiration of Restrictions

  • Termination of Restrictions Except as set forth in Section 9.3 hereof, the restrictions imposed by this Section 9 upon the transferability of Restricted Securities shall cease and terminate as to any particular Restricted Securities: (a) which shall have been effectively registered under the Securities Act, or (b) when, in the opinions of both counsel for the holder thereof and counsel for the Company, such restrictions are no longer required in order to insure compliance with the Securities Act or Section 10 hereof. Whenever such restrictions shall cease and terminate as to any Restricted Securities, the Holder thereof shall be entitled to receive from the Company, without expense (other than applicable transfer taxes, if any), new securities of like tenor not bearing the applicable legends required by Section 9.1 hereof.

  • 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.

  • Lapse of Restrictions If, for any reason, Shares are issued to the Employee within six months of the Grant Date, the Employee agrees that he or she will not sell or otherwise dispose of any such Shares prior to the six-month anniversary of the Grant Date.

  • Extension of Restriction Period The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

  • Release of Restrictions Upon vesting of any portion of the shares of Restricted Stock and satisfaction of any other conditions required by the Plan or pursuant to this Restricted Stock Agreement, the Company shall promptly either issue a stock certificate, without such restricted legend, for any shares of the Restricted Stock that have vested, or, if the shares are held in book entry form, the Company shall remove the notations on the book form for any shares of the Restricted Stock that have vested.