Common use of AND FORFEITURE Clause in Contracts

AND FORFEITURE. (a) Except as otherwise provided in the Plan or in Section 3(b) of this Agreement, twenty-five percent (25%) of the RSUs subject to Participant’s Award shall vest and be distributed in shares of Common Stock pursuant to Section 2 (to “vest”) on each of April 30, 2016, April 30, 2017, April 30, 2018 and April 30, 2019 (each, a “Vesting Date”). (b) Participant’s right to vest in this Award is conditioned upon Participant’s continuous employment with the Firm, except to the limited extent to which vesting may continue following a termination of Participant’s employment as provided below. If Participant’s continuous employment with the Firm terminates or is interrupted for any reason stated below, Participant’s rights with respect to the Award shall be affected as follows:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Legg Mason, Inc.)

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AND FORFEITURE. (a) Except as otherwise provided in the Plan or in Section 3(b) of this Agreement, twenty-five percent (25%) of the RSUs subject to Participant’s Award shall vest and be distributed in shares of Common Stock pursuant to Section 2 (to “vest”) on each of April 30, 2016, April 30, 2017, April 30, 2018 2018, April 30, 2019 and April 30, 2019 2020 (each, a “Vesting Date”). (b) Participant’s right to vest in this Award is conditioned upon Participant’s continuous employment with the Firm, except to the limited extent to which vesting may continue following a termination of Participant’s employment as provided below. If Participant’s continuous employment with the Firm terminates or is interrupted for any reason stated below, Participant’s rights with respect to the Award shall be affected as follows:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Legg Mason, Inc.)

AND FORFEITURE. (a) Except as otherwise provided in the Plan or in Section 3(b) of this Agreement, twenty-five percent (25%) of the RSUs subject to Participant’s Award shall vest and be distributed in shares of Common Stock pursuant to Section 2 (to “vest”) on each of April 30, 20162019, April 30, 20172020, April 30, 2018 2021 and April 30, 2019 2022 (each, a “Vesting Date”). (b) Participant’s right to vest in this Award is conditioned upon Participant’s continuous employment with the Firm, except to the limited extent to which vesting may continue following a termination of Participant’s employment as provided below. If Participant’s continuous employment with the Firm terminates or is interrupted for any reason stated below, Participant’s rights with respect to the Award shall be affected as follows:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Legg Mason, Inc.)

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AND FORFEITURE. (a) Except as otherwise provided in the Plan or in Section 3(b) of this Agreement, twenty-five percent (25%) of the RSUs subject to Participant’s Award shall vest and be distributed in shares of Common Stock pursuant to Section 2 (to “vest”) on each of April 30, 20162018, April 30, 20172019, April 30, 2018 2020 and April 30, 2019 2021 (each, a “Vesting Date”). (b) Participant’s right to vest in this Award is conditioned upon Participant’s continuous employment with the Firm, except to the limited extent to which vesting may continue following a termination of Participant’s employment as provided below. If Participant’s continuous employment with the Firm terminates or is interrupted for any reason stated below, Participant’s rights with respect to the Award shall be affected as follows:

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Legg Mason, Inc.)

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