Common use of General Vesting Rule Clause in Contracts

General Vesting Rule. You will be issued Shares in settlement of the Units only if you vest in the Restricted Stock Unit Award. So long as you remain continuously employed by the Company or any Affiliate through the third (3rd) anniversary of the Grant Date (the “Employment Date”), and provided also that the Committee certifies that the Performance Goals have been met at least at the minimum level set forth in Exhibit A, then, except as otherwise set forth in this Section 3, the Restricted Stock Unit Award shall vest, and your right to receive and retain the Shares in settlement of such Units in the amount determined by the extent to which the Performance Goals are met will become nonforfeitable, only on the later of the Employment Date or the date the Committee certifies the extent to which the Performance Goals have been met pursuant to paragraph (i) of this Section 3. Any and all vested Units shall be settled in whole Shares in accordance with this Section 3.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Foster Wheeler Ag), Restricted Stock Unit Award Agreement (Foster Wheeler Ag)

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General Vesting Rule. You will be issued Shares in settlement of the Units only if you vest in the Restricted Stock Unit Award. So long as you remain continuously employed by the Company or any Affiliate through the third (3rd) anniversary of the Grant Date (the “Employment Date”), and provided also that the Committee certifies that the Performance Goals have been met at least at the minimum level Minimum Level Payout set forth in Exhibit A, then, except as otherwise set forth in this Section 3, the Restricted Stock Unit Award shall vest, and your right to receive and retain the Shares in settlement of such Units in the amount determined by the extent to which the Performance Goals are met will become nonforfeitable, only on the later of the Employment Date or the date the Committee certifies the extent to which the Performance Goals have been met pursuant to paragraph (i) of this Section 3. Any and all vested Units shall be settled in whole Shares in accordance with this Section 3.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Foster Wheeler Ag)

General Vesting Rule. You will be issued Shares in settlement of the Units only if you vest in the Restricted Stock Unit Award. So long as you remain continuously employed by the Company or any Affiliate through the third (3rd) anniversary of [the Grant Date Date] (the “Employment Date”), and provided also that the Committee certifies that the Performance Goals have been met at least at the minimum level Threshold Level Payout set forth in Exhibit A, then, except as otherwise set forth in this Section 3, the Restricted Stock Unit Award shall vest, and your right to receive and retain the Shares in settlement of such Units in the amount determined by the extent to which the Performance Goals are met will become nonforfeitable, only on the later of the Employment Date or the date the Committee certifies the extent to which the Performance Goals have been met pursuant to paragraph (i) of this Section 3. Any and all vested Units shall be settled in whole Shares in accordance with this Section 3.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Foster Wheeler Ag)

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General Vesting Rule. You will be issued Shares in settlement of the Units only if you vest in the Restricted Stock Unit Award. So long as you remain continuously employed by the Company or any Affiliate through the third (3rd) anniversary of the Grant Date (the “Employment Vesting Date”), and provided also that the Committee certifies that the Performance Goals have been met at least at the minimum level set forth in Exhibit A, then, except as otherwise set forth in this Section 3, the Restricted Stock Unit Award shall vest, and your right to receive and retain the Shares in settlement of such Units in the amount determined by the extent to which the Performance Goals are met met, will become nonforfeitable, nonforfeitable only on the later of the Employment Vesting Date or the date the Committee certifies the extent to which the Performance Goals have been met pursuant to paragraph (iSection 3(i) of this Section 3Agreement. Any and all vested Units shall be settled in whole Shares in accordance with this Section 3.

Appears in 1 contract

Samples: Foster Wheeler Ag

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