Initial Restricted Stock Sample Clauses

Initial Restricted Stock. As soon as practicable following the Employment Commencement Date, Executive shall purchase five hundred thousand (500,000) shares of Company common stock at a purchase price of $0.01 per share (the "Initial Restricted Stock"). The Initial Restricted Stock shall vest (i.e., the Company's right to repurchase the Initial Restricted Stock at its original purchase price shall lapse) as to one hundred twenty-five thousand (125,000) shares subject to the Initial Restricted Stock grant each year thereafter through May, 10, 2003, conditioned upon Executive's continued employment or consulting relationship with the Company on such dates. The Initial Restricted Stock shall be subject to the terms and conditions of the Initial Restricted Stock purchase agreement dated May 10, 1999 by and between Executive and the Company (the "Initial Restricted Stock Purchase Agreement"), which is incorporated herein by reference. The Initial Restricted Stock shall be registered by the Company on Form S-8 prior to the date of purchase.
Sample 1
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Initial Restricted Stock. As of the Effective Date, Executive will be granted restricted stock awards (the "Initial Restricted Stock Awards") as follows: (i) under the LTIP, a restricted stock award of 205,488 shares of RRI Common Stock and (ii), under the REI LTIP, a REI restricted stock award with respect to a number of shares of REI Common Stock determined by taking the product of (A) 205,488 and (B) the RRI Common Stock closing market price on the Effective Date, divided by (C) the REI Common Stock closing market price on the Effective Date. These two Initial Restricted Stock Awards shall be tandem stock awards, meaning that the Executive must elect at the time hereinafter provided to receive one or the other, and the choice of the RRI Common Stock award cancels the related or companion REI Common Stock award and vice-versa. Executive must choose which stock award to keep at Distribution and forfeit the other. If Distribution does not occur, Executive shall choose at time of vesting. The Initial Restricted Stock Award denominated in REI Common Stock will become a CenterPoint Stock Award which will be adjusted at Distribution as necessary to account for the decrease in the value of such award as a result of the Distribution and such adjustment will be made in the same manner as similar REI awards made after May 4, 2001. So long as Executive remains continuously employed by the Company, these Initial Restricted Stock Awards shall become vested 66 2/3% on July 29, 2004 and 33 1/3% on July 29, 2005 (unless accelerated pursuant to the LTIP, the REI LTIP or another provision of this Agreement) such that the Initial Restricted Stock Awards shall become 100% vested on July 29, 2005. Regardless of the above, if Distribution occurs prior to July 29, 2004, then 33 1/3% of the Initial Restricted Stock Award retained by Executive will have the vesting accelerated from July 29, 2004 to the later of July 29, 2003 or the date of Distribution. The remaining vesting schedule would be 33 1/3% on July 29, 2004 and 33 1/3% on July 29, 2005. The Initial Restricted Stock Awards will be evidenced in the same manner as all other time-based restricted stock grants to executive employees under the LTIP or REI LTIP to the extent that the terms of such grant agreements are not inconsistent with and not less favorable to Executive than the provisions of this Agreement and (i) in the case of a termination under Section 4.A., 4.B., 4.C., 4.D.(iv) or 4.E., Executive shall be 100% vested and (ii) in the case of...
Sample 1
Initial Restricted Stock. Cosi shall grant to Mx. Xxxxxxxxx 300,000 shares of Cosi’s authorized but unissued common stock, $0.01 par value, (the “Initial Restricted Stock”), pursuant to the Cosi, Inc. 2005 Long-Term Incentive Plan (“LTIP”). The grant of Initial Restricted Stock shall be awarded to Mx. Xxxxxxxxx on May 9, 2005, pursuant to the LTIP, subject to the terms and conditions of Section 7 of this Agreement and further subject to any additional terms and conditions prescribed by the Compensation Committee in the Initial Restricted Stock Award Agreement.
Sample 1
Initial Restricted Stock. You and the Company hereby acknowledge that pursuant to the terms of the Original Letter, as of the date of the closing of the initial public offering of shares of the REIT’s common stock (the “IPO Date”), the REIT granted you a number of shares of the REIT’s common stock (the “Initial Restricted Stock”) equal to the quotient obtained by dividing (x) $250,000 by (y) the initial public offering price of a share of the REIT’s common stock. The Initial Restricted Stock was granted to you under the Amended and Restated 2003 Incentive Award Plan of Xxxxxxx Properties, Inc., Xxxxxxx Properties Services, Inc. and Xxxxxxx Properties, L.P. (the “Incentive Plan”) at a per share purchase price of $0.01 per share and was vested in full as of the IPO Date. The terms and conditions of the Initial Restricted Stock are set forth in a Restricted Stock Agreement, dated June 27, 2003, between you and the REIT.
Sample 1
Initial Restricted Stock. Effective as of the Commencement Date, the Executive will also be granted an award of restricted stock units equivalent in value to 30,000 shares of common stock of the Company (the “Initial Restricted Stock Units”). The Initial Restricted Stock Units shall not be vested as of the Commencement Date and shall be subject to forfeiture in the event of termination of the Executive’s employment with the Company until it becomes vested in accordance with this Section III-C-2. The Initial Restricted Stock Units shall become vested in three equal annual installments of 10,000 shares on each of the first three anniversaries of the Commencement Date, subject to the Executive’s continued employment with the Company through each such date. The Initial Restricted Stock Units shall be evidenced by a Restricted Stock Unit Award Agreement to be entered into between the Company and the Executive, which agreement shall reflect the terms of the Initial Restricted Stock Units as set forth in this Agreement and such additional terms established by the Company consistent with the terms of similar awards made to other senior executives of the Company and not inconsistent with the terms of this Agreement.
Sample 1
Initial Restricted Stock. On the Effective Date, Cosi shall grant to Mr. Hyatt 275,000 restricted shares of Common Stock, (the "Inixxxx Xxxxricted Stock"), pursuant to the LTIP, subject to the terms and conditions set forth in Section 8 below and any additional terms and conditions prescribed by the Compensation Committee in the Initial Restricted Stock Award Agreement.
Sample 1
Initial Restricted Stock. Subject to the terms and conditions set forth in this Agreement, the LTIP, and the Initial Restricted Stock Award Agreement: (A) Twenty percent (20%) of the Initial Restricted Stock grant shall be fully vested on the Effective Date. (B) On each anniversary of the Effective Date in 2008, 2009, 2010, and 2011, an additional twenty percent (20%) of the Initial Restricted Stock grant shall become fully vested on each such date, provided that Mr. Hyatt remains in the continuous employ of Cosi xxxx xxx after the Effective Date and through each such anniversary date.
Sample 1
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Related to Initial Restricted Stock

  • Company Restricted Stock “Company Restricted Stock” shall mean shares of Company Common Stock, whether granted by the Company pursuant to a Company Equity Plan, assumed by the Company in connection with any merger, acquisition or similar transaction or otherwise issued or granted, that are subject to a Contract pursuant to which the Company has the right to repurchase, redeem or otherwise reacquire such shares of Company Common Stock, including by forfeiture.

  • Stock Options; Restricted Stock The foregoing benefits are intended to be in addition to the value of any options to acquire Common Stock of the Company, the exercisability of which is accelerated pursuant to the terms of any stock option agreement, any restricted stock the vesting of which is accelerated pursuant to the terms of the restricted stock agreement, and any other incentive or similar plan heretofore or hereafter adopted by the Company.

  • Grant of Restricted Stock Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Committee hereby grants to the Participant 3,250 restricted shares (the “Restricted Stock”) of common stock of the Company, par value $0.01 per share (“Common Stock”).

  • Grant of Restricted Shares Effective as of the Grant Date, the Company shall cause to be issued in the Executive’s name the following Shares as Restricted Shares: shares of the Company’s common stock, $.01 par value. The Company shall cause certificates evidencing the Restricted Shares, and any shares of Stock or rights to acquire shares of Stock distributed by the Company in respect of Restricted Shares during any Period of Restriction (the “Retained Distributions”), to be issued in the Executive’s name. During the Period of Restriction such certificates shall bear a restrictive legend to the effect that ownership of such Restricted Shares (and any Retained Distributions), and the enjoyment of all rights appurtenant thereto, are subject to the restrictions, terms, and conditions provided in the Plan and this Agreement. The Executive shall have the right to vote the Restricted Shares awarded to the Executive and to receive and retain all regular dividends paid in cash or property (other than Retained Distributions), and to exercise all other rights, powers and privileges of a holder of Shares, with respect to such Restricted Shares, with the exception that (a) the Executive shall not be entitled to delivery of the stock certificate or certificates representing such Restricted Shares until the Forfeiture Restrictions applicable thereto shall have expired, (b) the Company shall retain custody of all Retained Distributions made or declared with respect to the Restricted Shares (and such Retained Distributions shall be subject to the same restrictions, terms and conditions as are applicable to the Restricted Shares) until such time, if ever, as the Restricted Shares with respect to which such Retained Distributions shall have been made, paid, or declared shall have become vested, and such Retained Distributions shall not bear interest or be segregated in separate accounts and (c) the Executive may not sell, assign, transfer, pledge, exchange, encumber, or dispose of the Restricted Shares or any Retained Distributions during the Period of Restriction. Upon issuance the certificates shall be delivered to such depository as may be designated by the Committee as a depository for safekeeping until the forfeiture of such Restricted Shares occurs or the Forfeiture Restrictions lapse, together with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer to the Company of all or any portion of the Restricted Shares and any securities constituting Retained Distributions which shall be forfeited in accordance with the Plan and this Agreement. In accepting the award of Shares set forth in this Agreement the Executive accepts and agrees to be bound by all the terms and conditions of the Plan and this Agreement.

  • Grant of Restricted Stock Award The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of, and delivered to, the Participant. Notwithstanding the foregoing, the Company may in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards. If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.

  • Grant of Restricted Stock Units The Corporation hereby awards to the Participant, as of the Award Date, Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on the date that unit vests in accordance with the express provisions of this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall become issuable to Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Grant of Restricted Share Units Subject to all of the terms and conditions of this Award Agreement and the Plan, the Company hereby grants to the Participant [ ] Class A restricted share units (the “RSUs”).

  • Stock Options and Restricted Stock The Company shall grant to Executive effective as of the Effective Date non-qualified stock options (to be known as the "IPO Options") to purchase, and awards of restricted stock (to be known as the "IPO Restricted Stock") for, an aggregate number of shares of the Company's no par value common stock equal to 0.65 percent of the Shares that will be outstanding immediately following the closing of the Initial Public Offering (5), with 70 percent of such Shares (rounded to the nearest 100 and being an estimated 36,400 Shares) being in the form of Stock Options and 30 percent of such Shares (rounded to the nearest 100 and being an estimated 15,600 Shares) being in the form of Restricted Stock under the Company's 2003 Stock Option and Award Plan (the "Stock Option Plan"). The IPO Options shall be at an exercise price equal to the fair market value of the Shares as determined by the offering price in the Initial Public Offering. The Shares subject to the IPO Options shall vest over three years of service and the shares of IPO Restricted Stock shall vest over four years of service after the Effective Date. The grant of the IPO Options and the IPO Restricted Stock and the exercise of the IPO Options shall be subject to all of the terms and conditions of the Stock Option Plan. Notwithstanding the forgoing, to the extent not contrary to applicable law, all of the IPO Options shall become fully vested and remain exercisable pursuant to their respective terms for the remainder of their respective Exercise Periods , and all unvested Shares, if any, of the IPO Restricted Stock shall become fully vested, effective upon termination of Executive's employment by reason of death, discharge by the Company pursuant to 3.4 (a) other than for Cause, resignation by Executive pursuant to Section 3.4(b) for Good Reason, termination by resignation or discharge for any reason other than Cause upon or after a Change in Control, or "retirement" or "disability" within the meaning of the Stock Option Plan; and all options granted after or in addition to the IPO Options, all shares of Restricted Stock awarded after or in additional to the IPO Restricted Stock, and any and all other awards to Executive pursuant to the Stock Option Plan shall be subject to such terms and conditions as shall be determined at the time of any such award under the direction of the Board pursuant to the Stock Option Plan. The Company shall exercise best efforts to register with the Securities and Exchange Commission under the Securities Act of 1933, as amended, the issuance of shares of stock issued pursuant to the Stock Option Plan and to satisfy the current public information requirements of Rule 144(c) for purpose of allowing Executive to resell such shares.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become vested and non-forfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law, except to (i) an immediate family member or (ii) a trust or other estate-planning vehicle (collectively, the “Permitted Transferees”), so long as any such Permitted Transferee, as a condition to such transfer, agrees in writing to be bound by the terms of this Agreement with respect to the Restricted Shares. (a) 100% of the Restricted Shares subject hereto shall become vested and non-forfeitable on the third anniversary of the Effective Date, provided the Grantee remains in continuous service with the Company through such date. (b) Upon cessation of the Service Relationship (hereinafter defined), any Restricted Shares which then remain forfeitable (determined after application of Section 2(c), below) will immediately and automatically, without any action on the part of the Company, be forfeited, and the Grantee will have no further rights with respect to those shares. (c) If the Service Relationship (as defined below) terminates due to the Grantee’s death, or if a Change in Control (as defined below) occurs during the Service Relationship, any otherwise unvested Restricted Shares will then become vested and non-forfeitable. Similarly, if the Service Relationship ceases due to a termination by the Company without “Cause”, due to the Grantee’s “Disability” or due to a resignation by the Grantee with “Good Reason” (each as defined in that certain Employment Agreement between the Grantee and the Company dated on or about the closing date of the Transaction (the “Employment Agreement”)), and the Grantee executes a release of claims in the form and manner described in Section 7(c)(iii) of the Employment Agreement within the timeframe established in the Employment Agreement, any otherwise unvested Restricted Shares will become vested and non-forfeitable when such release becomes irrevocable. (d) For purposes of this Agreement, “Service Relationship” means the Grantee’s employment or service with the Company or its parent or any subsidiary or Affiliate, whether in the capacity of an employee, director or a consultant. Unless otherwise determined by the Board, the Grantee’s Service Relationship shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or a transfer between locations of the Company, its parent or any subsidiary or Affiliate or a transfer between the Company, its parent, or any subsidiary or Affiliate, provided that there is no interruption or other termination of the Service Relationship. Subject to the foregoing and the following sentence, the Company, in its discretion, shall determine whether the Grantee’s Service Relationship has terminated and the effective date of such termination. The following events shall not be deemed a termination of the Service Relationship:

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