Vesting of the Restricted Shares Sample Clauses

The "Vesting of the Restricted Shares" clause defines the schedule and conditions under which restricted shares granted to an individual become fully owned and transferable. Typically, this clause outlines a timeline—such as monthly or annual increments—over which the recipient earns rights to the shares, often contingent on continued employment or meeting specific performance goals. Its core practical function is to incentivize long-term commitment and performance by ensuring that recipients only gain full ownership of the shares over time, thereby protecting the company from immediate departures or underperformance.
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Vesting of the Restricted Shares. The Restricted Shares shall vest and become non-forfeitable in accordance with Schedule I attached hereto.
Vesting of the Restricted Shares. Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: 1st Anniversary Date 25% 2nd Anniversary Date 25% 3rd Anniversary Date 25% 4th Anniversary Date 25%
Vesting of the Restricted Shares. The Restricted Shares granted pursuant to this Agreement shall vest and all restrictions shall lapse thereon as follows:
Vesting of the Restricted Shares. (a) Except as otherwise provided in Section 2(b) below, the Restricted Shares shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(c) below) by the Stockholder, (iii) the Stockholder has not become permanently disabled (as described in Section 3(a)(iii) below), and (iv) the Stockholder has not died: Anniversary Date Percentage of of this Agreement Restricted Stock Vested ----------------- ----------------------- First 25% Second 25% Third 25% Fourth 25%
Vesting of the Restricted Shares. (a) Except as otherwise provided in Section 2(b) below, the Restricted Shares held by each Stockholder shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice by such Stockholder (as defined in Section 2(c) below), (iii) such Stockholder has not become permanently disabled (as described in Section 3(a)(iii) below), and (iv) such Stockholder has not died: Anniversary Date Percentage of of this Agreement Restricted Shares Vested ----------------- ------------------------ First 25% Second 25% Third 25% Fourth 25% For purposes of this Agreement, "Anniversary Date of this Agreement" means September 1 of each year after 1997. Restricted Shares which have become vested are referred to herein as "Vested Shares" and all other Restricted Shares are referred to herein as "Unvested Shares." (b) Notwithstanding the foregoing, in the event of the death of such Stockholder, in addition to any shares that have vested in accordance with Section 2(a) above, the number of Unvested Shares, if any, that would have become Vested Shares during the 12-month period immediately following the date of death had such death not occurred shall be deemed Vested Shares as of the date of death. (c) For purposes of this Agreement, "Cessation of Active Practice" means a physician Stockholder's resignation from or termination of employment with the Medical Group (other than by reason of death or permanent disability).
Vesting of the Restricted Shares. (a) Subject to the Participant’s continued service with the Company, the Restricted Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Restricted Shares, after two years from the Grant Date as to two thirds of the Restricted Shares and after three years from the Grant Date as to 100% of the Restricted Shares. (b) If the Participant’s service with the Company terminates or is terminated due to (i) the Participant’s death; (ii) the Participant becoming Disabled (as defined in the Participant’s employment agreement); (iii) a Without Cause Termination (as defined in the Participant’s employment agreement); or (iv) a Constructive Discharge (as defined in the Participant’s employment agreement), the Restricted Shares will become immediately and fully vested. If the Participant’s service with the Company terminates or is terminated for any reason other than as set forth in the preceding sentence, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration. (c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested, subject to the terms of the Plan.
Vesting of the Restricted Shares. (a) Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: 1st Anniversary Date 100% of Shares Granted
Vesting of the Restricted Shares. Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: March 31, 2017 100% (a) Termination Due to Death, Disability, End of Term, By Company for Cause, or By Executive Other Than for Good Reason. If Executive’s employment is terminated pursuant to Section 3.1.1 (death), Section 3.1.2 (disability), Section 3.1.3 (the end of the Initial Term if either Party has timely delivered a Non-Renewal Notice as provided in Section 1.1 or the end of any Automatic Renewal Term pursuant to which either Party has timely delivered a Non-Renewal Notice as provided in Section 1.1), Section 3.1.4 (without Good Reason by the Executive), or Section 3.1.5 (by the Company for Cause) of the Employment Agreement, the vesting of the Restricted Shares shall, on the date of such termination, cease and any unvested Restricted Shares shall be forfeited by Executive and revert to the Company.
Vesting of the Restricted Shares. (a) Subject to the Participant’s continued service with the Company, the Restricted Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Restricted Shares, after two years from the Grant Date as to two thirds of the Restricted Shares and after three years from the Grant Date as to 100% of the Restricted Shares. (b) If the Participant’s service with the Company terminates or is terminated for any reason, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration. (c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested, subject to the terms of the Plan.
Vesting of the Restricted Shares. 25% of the Restricted Shares shall vest and become non-forfeitable on each of the first four anniversaries of the Effective Date (each, a “Vesting Date”), subject to Participant’s continuous Service from the Effective Date through the applicable Vesting Date unless otherwise provided in Section 3 below; provided that, if less than a full Stapled Security would vest on any Vesting Date, the number of Restricted Shares that shall vest on such Vesting Date shall be rounded up to the nearest whole number of Restricted Shares (with appropriate reductions made for future Vesting Dates, such that in no event shall the Participant receive more than the number of Restricted Shares specified in Section 1 hereof). For the avoidance of doubt, the term “Restricted Shares,” as used herein includes, without limitation, any Common Stock, cash, interest, property or other securities issued respect of, or pursuant to the terms of, such Restricted Shares, and all such shares of Common Stock, cash, property or other securities, shall be subject to the same vesting schedule provided for herein and shall be held by the Company by appropriate arrangements as determined by the Committee in good faith, to be delivered to the Participant only as and to the extent the same vest pursuant hereto. [For the avoidance of doubt, [ ] of such shares are vested as of the Grant Date.]3 1 This agreement will be entered into at the time of the Petrobras judgment. 2 If the Petrobras Litigation Award is paid in cash, it will be subject to the same vesting conditions as provided herein and paid on such vesting dates. If no Stapled Securities are then outstanding (e.g., due to conversion), Award may be made in Common Stock (with appropriate removal or adjustment of Stapled Security-related language to instead refer to Common Stock).