Additional Vesting Events Sample Clauses
The "Additional Vesting Events" clause defines specific circumstances under which an employee or stakeholder may receive accelerated or extra vesting of equity or benefits beyond the standard vesting schedule. For example, this clause might specify that vesting will be accelerated if the company is acquired, if the employee is terminated without cause, or upon reaching certain performance milestones. Its core practical function is to provide flexibility and protection for recipients by ensuring they are not unfairly deprived of earned benefits due to unforeseen events, thereby aligning incentives and managing risk for both parties.
Additional Vesting Events. Notwithstanding the foregoing, all outstanding and unvested RSUs shall become vested and no longer subject to restriction immediately prior to a Change of Control.
Additional Vesting Events. Notwithstanding any other provision of this Agreement or the Plan, Awards of Performance Restricted Stock Units that have not previously vested will vest in accordance with the provisions of Annex B in connection with a Change of Control, a Delisting Event, an LTIP Disposition Event or a Qualifying Termination Event (in each case as defined in Annex B).
Additional Vesting Events. Notwithstanding the foregoing, any unvested shares of the Restricted Stock shall become fully vested upon the occurrence of any of the following:
(i) the Company’s termination of the Executive without “Cause” or the Executive’s resignation for “Good Reason” (as such terms are defined in Employment Agreement between the Company and the Executive, dated September 24, 2014 (the “Employment Agreement”));
(ii) the Executive’s termination of employment due to the Executive’s death or “Disability” (as such term is defined in the Employment Agreement); or
(iii) the occurrence of a Change in Control (as defined below).
Additional Vesting Events. For purposes of this Agreement, the following definitions shall apply:
Additional Vesting Events. Notwithstanding Section 3(a) above, all outstanding Performance Units that have not previously been forfeited pursuant to Section 3(a) shall become immediately payable upon: (i) the death of the Grantee; (ii) Disability of the Grantee; or (iii) a Change of Control of the Company.
Additional Vesting Events. Notwithstanding the foregoing, the Time-Based RSUs and the Performance-Based RSUs shall be subject to the additional vesting provisions described below:
(i) Upon the Company’s termination of the Executive’s employment without Cause or the Executive’s resignation for Good Reason, the Executive shall immediately become vested in a pro-rata number of the outstanding and unvested Time-Based RSUs that would have vested on December 31 of the calendar year in which such termination of employment occurs as if the Executive’s employment had not terminated.
(ii) Upon the Company’s termination of the Executive’s employment by the Company without Cause, on account of the Executive’s Disability or death or on account of the Executive’s resignation for Good Reason, the Performance-Based RSUs that are eligible to vest for the calendar year in which termination of employment occurs shall remain outstanding following the Executive’s termination of employment and, contingent upon the level of performance goal attainment for the Performance Year ending within such calendar year, the Executive shall vest in a pro-rata number of such Performance-Based RSUs.
(iii) All outstanding and unvested Time-Based RSUs shall become vested and no longer subject to restriction immediately prior to the occurrence of a Change of Control, or upon the Executive’s termination of employment due to Disability or death.
(iv) All outstanding and unvested Performance-Based RSUs shall become vested and no longer subject to restriction immediately prior to the occurrence of a Change of Control. Any pro-ration required pursuant to this Section 2(c) shall be determined based on the number of days that have elapsed from the first day of the calendar year to the date on which the Executive’s employment terminates.
Additional Vesting Events. Notwithstanding Section 3(a) above, all outstanding Performance Units that have not previously been forfeited pursuant to Section 3(a) shall become immediately payable upon the occurrence of an Accelerated Vesting Event.
Additional Vesting Events