Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall vest and become exercisable, subject to continued employment, on the dates specified on Schedule I (each, a “Vesting Date”). If the Participant’s employment with the Company terminates for any reason prior to a Vesting Date, the unvested portion of the Option shall immediately be forfeited for no consideration.
Annual Vesting. Subject to Sections 2.2, 2.3 and 2.4 below, the Award shall vest as follows:
(i) one-fourth of the Class C Units covered by the Award shall vest on the Effective Date.
(ii) one-fourth of the Class C Units covered by the Award shall vest as of December 31, 2008 if the Company’s EBITDA for the fiscal year ending December 31, 2008 equals or exceeds the EBITDA Target for such year, as set forth in Appendix A.
(iii) one-fourth of the Class C Units covered by the Award shall vest as of December 31, 2009 if the Company’s EBITDA for the fiscal year ending December 31, 2009 equals or exceeds the EBITDA Target for such year, as set forth in Appendix A.
(iv) one-fourth of the Class C Units covered by the Award shall vest as of December 31, 2010 if the Company’s EBITDA for the fiscal year ending December 31, 2010 equals or exceeds the EBITDA Target for such year, as set forth in Appendix A.
Annual Vesting. <# of shares> of the Restricted Stock will vest in equal annual installments over a period of three years as follows: <# of shares> shares will vest on <one year from the date of grant> <# of shares> shares will vest on <two years from the date of grant> <# of shares> shares will vest on <three years from the date of grant> Quarterly Vesting: <# of shares> of the Restricted Stock will vest in <# of quarterly installments> quarterly installments, in the amounts and on the dates that follow: <# of shares> shares will vest on <first quarterly vesting date> [Insert remainder of vesting schedule] <# of shares> shares will vest on <final quarterly vesting date — 5 years from phantom unit grant date> The Participant, by signing below, acknowledges and agrees that the Restricted Stock is granted under and governed by the terms, and subject to the conditions, of this Agreement, including the Terms and Conditions of Restricted Stock Award attached hereto as Exhibit A, and the Plan. Participant Vantiv, Inc. By: Name Title: Date:
Annual Vesting. From and after the lapse of the Forfeiture Restrictions with respect to any Share of Restricted Stock, such Share shall be “Vested”. Subject to Sections 2(c) and (d) of this Agreement, the Shares of Restricted Stock shall become Vested in annual installments of [•], [•], and [•] Shares, respectively, on each of the first, second and third anniversaries of the Grant Date.
Annual Vesting. (A) The maximum number of the Restricted Units set forth above for a fiscal year ending during the Restricted Period shall be fully vested if the consolidated operating income growth of the Company for each such fiscal year is 15% or greater compared to the consolidated operating income of the immediately preceding year. The effective date of the vesting of such Restricted Units for any fiscal year (the "Vesting Date") shall be the date the Company's consolidated operating income growth for such fiscal year is determined as provided in subparagraph (iv) below.
(B) If the consolidated operating income growth of the Company is between 10% and 15% compared to the consolidated operating income of the immediately preceding year for any fiscal year during the Restricted Period, the following percentage of the maximum number of the Restricted Units for such fiscal year shall become vested on the Vesting Date for such fiscal year: ----------------------------------------------------------- ------------------------------------------------------------------- Consolidated Operating Income Growth Percentage Entitlement of Maximum Possible Award ----------------------------------------------------------- ------------------------------------------------------------------- 10.0 - 10.99% 20% ----------------------------------------------------------- -------------------------------------------------------------------
Annual Vesting. The Performance-Based Shares shall be eligible to vest in [four (4)] substantially equal annual installments with respect to each of the Company’s [•], [•], [•] and [•] fiscal years (each, a “Fiscal Year”) based on the achievement of an [EBITDA target (the “EBITDA Target”)] established for each such Fiscal Year as set forth in the table below. In the event that the [EBITDA Target] for a particular Fiscal Year is achieved or exceeded, the installment of the Performance-Based Shares eligible to vest for such Fiscal Year will become vested as of the day the Committee determines such [EBITDA Target] has been achieved.
Annual Vesting. Subject to Employee’s continued employment with the Company or an affiliate of the Company on the first, second and third anniversaries of July 1, 2016 (the “Effective Time”)(each, a “Vesting Date”), Employee will vest in a number of PSUs equal to the sum of (i) the quotient of (X) one-third of the CIC Dollar Value (as defined below) divided by (Y) the fair market value of a share of common stock of the Company (“Common Stock”) on such Vesting Date, determined pursuant to the terms of the Plan; plus (ii) such additional shares attributable to dividend equivalent units paid on such number of shares of Common Stock from the Effective Date (the “Floor”). For purposes of this Agreement, the CIC Dollar Value is equal to $2,926,939.
Annual Vesting. The RSUs granted hereunder shall vest in ______ installments on the ___ day of _____ of each of _______ successive Fiscal Years, with the first such vesting to be made on the ___ day of _____ of Fiscal ______. Associated Dividend Units shall vest annually as provided in Section 4(b).
Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall be exercisable in accordance with the limitations set forth below, unless an earlier expiration date shall be stated in the Option:
(i) The Option granted shall not be exercisable in whole or in part prior to one (1) year from the date of grant of the Option; and
(ii) A maximum of twenty-five percent (25%) of the Option shall become exercisable one (1) year following the date of grant of the Option; and
(iii) A maximum of fifty percent (50%) of the Option shall become exercisable two (2) years following the date of grant of the Option; and
(iv) A maximum of seventy-five percent (75%) of the Option shall become exercisable three (3) years following the date of grant of the Option; and
(v) One hundred percent (100%) of the Option shall become exercisable four (4) years following the date of grant of the Option.
Annual Vesting. Subject to the terms and conditions contained herein and in the Plan, the Performance Shares shall vest and become non-forfeitable in substantially equal installments on each of December 15, 2006, December 15, 2007 and December 15, 2008 (each, a "Vesting Date"), based on the level of the applicable Performance Targets set forth on Appendix A hereto that are attained with respect to the applicable Vesting Date and shall be determined by the (i) number of Performance Shares that are subject to vesting on such Vesting Date, multiplied by (ii) applicable Performance Leverage Factor ("PLF") shown in Appendix A for the attained level of the Performance Targets; provided, however, that the Participant is employed by the Company or an Affiliate on the applicable Vesting Date (each, an "Annual Award").
