Common use of General Vesting Rule Clause in Contracts

General Vesting Rule. Prior to vesting, Restricted Stock shall be forfeitable and non-transferable. The Restricted Stock shall vest over three (3) years (the “Vesting Period”), at a rate of one-third (1/3) of the Restricted Stock on each anniversary of the Grant Date, until the third anniversary of the Grant Date; provided, however, except as otherwise provided under this Stock Agreement, the Participant must remain employed by the Company or any Subsidiary continuously through the applicable vesting dates. The Restricted Stock vesting on the first two anniversaries of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share; and the restricted stock vesting on the third anniversary of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share and cash for the value of any fractional share of Common Stock (rounded to the nearest hundredth).

General Vesting Rule. Prior to vesting, Restricted Stock shall be forfeitable and non-transferable. The Restricted Stock shall vest over three (3) years (the “Vesting Period”), at a rate of one-third (1/3) of the Restricted Stock on each anniversary of the Grant Date, until the third anniversary of the Grant Date; provided, however, except as otherwise provided under this Stock Agreement, the Participant must remain employed by the Company or any Subsidiary continuously through the applicable vesting dates. The Restricted Stock vesting on the first two (2) anniversaries of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share; and the restricted stock vesting on the third anniversary of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share and cash for the value of any fractional share of Common Stock (rounded to the nearest hundredth).

General Vesting Rule. Prior Subject to vestingSection 2(b) below, the Restricted Stock Units shall be forfeitable become vested and non-transferable. The Restricted Stock shall vest forfeitable over the three (3) years year period following the Grant Date (the “Vesting Period”), at a rate of one-third (1/3) of the Restricted Stock Units on each first, second and third anniversary of the Grant Date, until the third anniversary of the Grant Date; provided, however, except as otherwise provided under this Stock Agreement, that the Participant must remain is then employed by the Company or any Subsidiary continuously through the applicable vesting datesone of its Subsidiaries. The Restricted Stock Units vesting on the first two (2) anniversaries of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share; , and the restricted stock any Restricted Stock Units vesting on the third anniversary of the Grant Date shall be settled in whole shares of the Company’s Common Stock rounded down to the nearest whole share and cash for the value of any fractional share of Common Stock (rounded to the nearest hundredth).