Additional Restricted Stock. Mx. Xxxxxxxxx shall be eligible to receive grants up to, in the aggregate, an additional 800,000 shares of Cosi’s authorized but unissued common stock, $0.01 par value (the “Additional Restricted Stock”), pursuant to the LTIP and in accordance with the terms and conditions prescribed by the Compensation Committee. Such grant of Additional Restricted Stock shall be awarded to Mx. Xxxxxxxxx over fiscal years 2006, 2007, 2008 and 2009, pursuant to the LTIP, subject to the terms and conditions of Section 7 of this Agreement and further subject to any additional terms and conditions prescribed by the Compensation Committee in the Additional Restricted Stock Award Agreement.
Additional Restricted Stock. On November 1, 2000, Executive shall be granted the right to purchase 100,000 shares of the Company's Common Stock (the "Additional Restricted Stock") at a price per share equal to ten cents ($.
Additional Restricted Stock. Executive has as of the date hereof vested in 18,263 shares of Company restricted stock and shall continue to vest in the 54,788 unvested shares of Company restricted stock granted pursuant to the Executive Employment Agreement to compensate Executive for the value of his forfeited pension from his previous employment, 33.33% of which shall vest on each of July 22, 2006, July 22, 2007 and July 22, 2008.
Additional Restricted Stock. On March 1, 2021, Executive shall be granted shares of restricted stock vesting twenty-five percent (25%) per year for four (4) years commencing on the first anniversary of the grant date. The number of restricted shares to be issued shall be determined by dividing One Million Dollars ($1,000,000) by the closing price of the common stock of the Company on March 1, 2021.
Additional Restricted Stock. Mr. Flynn shall receive awards of six thousand (6,000) shaxxx xx xxstricted stock each on September 1, 2001, September 1, 2002, and September 1, 2003, respectively, provided that he is employed by the Bank on each applicable date and satisfactorily performing the duties assigned to him by the Bank, as determined by the Bank in good faith, and subject to the vesting requirements next described. Provided that Mr. Flynn is so employed by the Bank, UNBC, or one of theix xxxxxxxaries on the applicable vesting date, twenty-five percent (25%) of the award for calendar year 2001 (1,500 shares) shall vest on September 1, 2002, twenty-five percent (25%) of such award (1,500 shares) shall vest on September 1, 2003, twenty-five percent (25%) of such award (1,500 shares) shall vest on September 1, 2004, and twenty-five percent (25%) of such award (1,500 shares) shall vest on September 1, 2005. Additional restricted stock awards to Mr. Flynn in calendar years 2002 and 2003 pursuant to this xxxxxxxxraph 4(d) shall be subject to four-year vesting provisions substantially similar to those set forth above. Mr. Flynn shall forfeit any portion of the award that is nxx xxxxxx on the date he ceases to be employed by the Bank, UNBC and their subsidiaries, unless his termination of employment arises under circumstances described in subparagraphs 7(a), 7(b), 7(d) or 7(f), in which case shares not yet awarded under this subparagraph 4(c) shall be awarded to Mr. Flynn at the time of termination, and Mr. Flynn shall xxxxxx xxe hundred percent (100%) vested ix xxx xxxres awarded to him under this subparagraph 4(c) at the time of termination if not already so vested. Except as otherwise provided for in this subparagraph 4(c), the terms and conditions of the UNBC Management Stock Plan or any successor thereto (the "UNBC Stock Plan") shall govern in all other respects the administration of the restricted stock awarded to Mr. Flynn hereunder.
Additional Restricted Stock. During the Term, subject to Mr. Forrest's then still serving as Cosi's Executive Chairman xx Xxx-Xxxxxxxxx Chairman and the attainment of applicable performance goals, Cosi shall make additional grants to Mr. Forrest of up to 50,000 restricted shares of Cosi's authorxxxx xxx xxissued common stock, $0.01 par value (the "Additional Restricted Stock"), pursuant to the LTIP, in each of 2006 and 2007 at such times as grants are made to senior executives of the Cosi generally. The exact number of shares of Additional Restricted Stock granted pursuant to this Section 2(d) will be determined by the Compensation Committee based on the attainment of performance criteria established by the Committee in consultation with Cosi management. Each Additional Restricted Stock grant shall be set forth in a Restricted Stock Award Agreement in the form attached hereto as Exhibit A.
Additional Restricted Stock. Awardee agrees that the term "Restricted --------------------------- Stock" shall include any shares or other securities which he may receive or be entitled to receive as a result of the ownership of the original Restricted Stock whether the same are issued as a result of a Recapitalization or Reorganization.
Additional Restricted Stock. The Company shall recommend to the Compensation Committee and the Board that Employee be granted restricted stock ("Additional Restricted Stock") in the amount of one hundred thousand (100,000) shares of Common Stock of the Company.
(a) Other than as expressly provided herein, the Additional Restricted Stock shall be forfeited if the Employee’s employment with the Company is terminated for any reason. Notwithstanding the foregoing, the risk of forfeiture of the Additional Restricted Stock will irrevocably lapse with respect to 50,000 shares upon the second anniversary of this Amendment and with respect to the remaining 50,000 upon the fourth anniversary of this Amendment. The Employee may, in his discretion and subject to the satisfaction of applicable income and employment tax withholding obligations, make an election under Section 83(b) of the Internal Revenue Code with respect to the Additional Restricted Stock. Employee’s entitlement to any Additional Restricted Stock that may be approved by the Board and/or Compensation Committee is conditioned upon Employee’s signing of a separate Restricted Stock Agreement and payment of the par value of the Additional Restricted Stock if required.
(b) The risk of forfeiture of the Additional Restricted Stock shall lapse upon a Change in Control or Corporate Transaction (as each is defined in the Restricted Stock Agreement) as long as Employee remains employed by the Company during the period commencing thirty (30) days prior to the date of the Change of Control or Corporate Transaction.
Additional Restricted Stock. Xx. Xxxxxx shall receive an award of six thousand (6,000) shares of restricted stock on June 1, 1998, provided that he is employed by the Bank on that date and subject to the vesting requirements next described. Provided Xx. Xxxxxx is employed by the Bank, UNBC or one of their subsidiaries on the applicable vesting date, 25% of the award (1500 shares) shall vest on January 2, 1999, 25% of the award (1500 shares) shall vest on January 2, 2000, 25% (1500 shares) shall vest on January 2, 2001, and 25% (1500 shares) shall vest on January 2, 2002. Xx. Xxxxxx shall forfeit any portion of the award that is not vested on the date he ceases to be employed by the Bank, UNBC and their subsidiaries, unless his termination of employment arises under circumstances described in subparagraphs 6(a), 6(b), 6(d) or 6(f), in which case Xx. Xxxxxx shall become 100% vested at the time of termination if not already so vested.
Additional Restricted Stock. In addition to the foregoing restricted stock award, the Company will grant to Executive a number of shares of restricted Common Stock equal to the number of shares of Common Stock that Executive elects to purchase (but not to exceed that number of shares of Common Stock with a market value of $500,000) during the period of five business days commencing on the second business day after the public announcement of his employment by the Company. The date of purchase of the purchased shares shall be the date of grant of the “matched” shares. The purchased shares shall be purchased from the Company at market value. The “matched” shares will vest in full on September 30, 2007, assuming continuous services to the Company. Date: By: Jxxx X. Xxxxxxxx Name and Title: Jxxx Xxx Cxxxxxxx, Trustee of the Jxxx Xxx Cxxxxxxx Revocable Trust U/A/D January 24, 2002 EXHIBIT B Term Life Insurance Beneficiary Executive: Jxxx X. Xxxxxxxx Address: 10000 Xxxxxxx Xxxx Xxxx Xxxxxxx, XX 00000 Beneficiary: Jxxx Xxx Cxxxxxxx, Trustee of the Jxxx Xxx Cxxxxxxx Revocable Trust U/A/D January 24, 2002 Address: Phone:
