Initial Vesting Sample Clauses

Initial Vesting. The Option shall vest to the --------------- extent of 15,000 Option Shares (A) for each (i) OEM order obtained or (ii) alliance or partnership entered into between the Company and a third party as a result of the Optionee's efforts (any such order, alliance or partnership shall be a "Transaction"), up to a maximum of five (5) such Transactions or an aggregate of 75,000 Option Shares, and (B) a majority of the non-employee directors of the Company then in office (excluding the Optionee if he is then a non-employee director) authorized the Company to enter into the Transaction and also agreed that the Transaction would give rise to vesting of the Option under this Section 2.1 or Section 2.2 hereof (any such approved Transaction shall be a "Vesting Transaction"). The non-employee directors' approval of a Transaction and agreement that such Transaction would be a Vesting Transaction shall be in their discretion, and such decision shall be final and binding on the Company and the Optionee. The Company shall give notice to the Optionee of the decision of the non-employee directors as to whether a proposed Transaction became a Vested Transaction.
Sample 1
Initial Vesting. The Holder may exercise this Warrant, in whole or in part, at any time or from time to time on any business day prior to the Expiration Date (as defined herein), for six million four hundred thousand (6,400,000) shares of Common Stock.
Sample 1
Initial Vesting. [●%] will vest on the date that is [12] months after the Effective Date; and
Sample 1
Initial Vesting. 29.1 Each Participant shall be entitled (subject to clause 33) at any time between the Initial Vesting Date and the Termination Date, by notice to the Trustees in terms of clause 29.2, to instruct the Trustees to sell 40% (forty percent) of the number of Scheme Shares which, on the Initial Vesting Date, are notionally allocated to that Participant in terms of clauses 8.1 and 8.2. 29.2 Any instruction in terms of clause 29.1 must be given in writing by the Participant concerned and must be sent by e-mail or fax or delivered by hand to the Trustees or such representative or representatives of the Trustees whose details are communicated to the Participants in writing, as the case may be, and should be in a form substantially similar to the document attached to this Deed marked Annex 1. The Trustees shall be entitled to act on any such e-mail or fax or hand delivered document purporting to originate from a Participant. 29.3 Upon receipt of a written notice given in terms of clauses 29.1 and 29.2 (but subject to clause 33), the Trustees shall sell the applicable Scheme Shares within 30 (thirty) days of the end of the calendar month in which the written instruction is given, at the Ruling Market Price. 29.4 The proceeds of the sale referred to in clause 29.3 shall accrue and be paid in the following order of priority: 29.4.1 first in settlement of and/or provision for a pro-rata portion of all outstanding Trust Expenses and any liabilities of the Trust as at the Initial Vesting Date; thereafter 29.4.2 in repayment of a pro-rata amount of 40% (forty percent) of the Capital Contributions outstanding as at the Initial Vesting Date; and thereafter 29.4.3 in payment of the balance remaining to the Participant in question, after deduction and payment of any employee and other taxes attributable thereto. 29.5 Should any Participants fail to give the Trustees a written instruction in terms of clauses 29.1 or 29.2 before the Termination Date or before the date of termination of employment with a Group Company as contemplated in clause 31.3.2, then the Participant shall be deemed to have given a written instruction to the Trustees in terms of clauses 29.1 and 29.2 on the day immediately preceding the Termination Date or the day immediately preceding the date of termination of employment (whichever is applicable) and the Trustees shall act and apply the proceeds of the sale in accordance with clauses 29.3 and 29.4, in relation thereto. 29.6 All references to "pro-rata" in ...
Sample 1
Initial Vesting. In the event that the Executive continues to serve as an executive officer of the Company until the Initial Vesting Date, the Executive shall be entitled to an Incentive Payout in an amount equal to 40% of the Executive’s total Compensation for the preceding year.
Sample 1
Initial Vesting. Warrants for the right to purchase 82,197 shares of fully paid and nonassessable Common Stock shall be Vested on the Closing Date, without regard to volume levels.
Sample 1

Related to Initial Vesting

  • Normal Vesting Subject to the Plan and this Agreement, if the Participant has been in Continuous Employment through the Vesting Date as set forth in Section 1, then the RSUs subject to such Vesting Date will become nonforfeitable (“Vest” or similar terms).

  • Equity Vesting All of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, all performance goals and other vesting criteria will be deemed achieved at the greater of actual performance or 100% of target levels. Unless otherwise required under the next following two sentences or, with respect to awards subject to Section 409A of the Code, under Section 5(b) below, any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination. For the avoidance of doubt, if the Executive’s Qualified Termination occurs prior to a Change in Control, then any unvested portion of the Executive’s then-outstanding equity awards will remain outstanding for 3 months or the occurrence of a Change in Control (whichever is earlier) so that any additional benefits due on a CIC Qualified Termination can be provided if a Change in Control occurs within 3 months following the Qualified Termination (provided that in no event will the Executive’s stock options or similar equity awards remain outstanding beyond the equity award’s maximum term to expiration). In such case, if no Change in Control occurs within 3 months following a Qualified Termination, any unvested portion of the Executive’s equity awards automatically will be forfeited permanently on the 3-month anniversary of the Qualified Termination without having vested.

  • Time Vesting Subject to Sections 5(b) and 6 below, the RSUs will vest and become nonforfeitable in accordance with and subject to the time vesting schedule set forth on Exhibit A attached hereto, subject to the Participant’s continued status as a Service Provider through each applicable vesting date.

  • General Vesting The Shares of Restricted Stock shall become vested in the following amounts, at the following times and upon the following conditions, provided that the Termination of Service of the Participant does not occur before the applicable date on which the Shares of Restricted Stock become vested (the “Vesting Date”): Except as otherwise provided in Sections 2(b) and 4 hereof, there shall be no proportionate or partial vesting of Shares of Restricted Stock in or during the months, days or periods prior to each Vesting Date, and all vesting of Shares of Restricted Stock shall occur only on the applicable Vesting Date.

  • Stock Vesting Unless otherwise approved by the Board, all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants and other service providers shall be subject to vesting as follows: (a) twenty-five percent (25%) of such stock shall vest one year following the date of the grant, and (b) seventy-five percent (75%) of such stock shall vest in equal monthly installments over the next three years thereafter.

  • Option Vesting Options shall vest as follows: (a) 100% of the Options shall vest on the 1st anniversary of the Grant Date; (b) In the event of any change in control, merger or consolidation between the Company and any other entity (other than one in which the stockholders of the Company prior to such transaction receive, in exchange for their Company shares, stock of the surviving corporation and such stock constitutes more than 50% of the outstanding stock of the surviving corporation following such transaction), or any sale by the Company of all or substantially all of its assets, all Options then held by the Director that have not theretofore vested shall vest five days prior to the earlier of (i) the record date, if any, for such transaction and (ii) the closing date of such transaction, both subject to Section 4(a).

  • Vesting Dates The ISOs shall vest as follows, subject to earlier vesting in the event of a termination of Service as provided in Section 6 or a Change in Control as provided in Section 7:

  • Vesting Date All remaining shares of Restricted Stock will become vested on the Vesting Date.

  • Restriction Period and Vesting (a) The Units shall vest and the restrictions shall lapse as follows: (i) 25% of the Units shall vest and restrictions shall lapse on each anniversary of the grant date (the “Vesting Dates”) until the Units are fully vested, or (ii) earlier pursuant to this Agreement or in accordance with Section 6.8 of the Plan (the “Restriction Period”). As used herein, the term “vest” shall mean no longer subject to a substantial risk of forfeiture. (b) If, prior to the end of the Restriction Period, the Holder’s employment with the Company terminates by reason of death or Disability, the Units that are then unvested shall vest in full, and restrictions shall lapse, as of the date of such termination. If, after twelve months of service have been rendered and prior to the end of the Restriction Period, the Holder’s employment with the Company terminates by reason of Retirement, the portion of the Award that is then unvested shall continue to vest after the date of such termination as if the Holder’s employment with the Company continued until the end of the Restriction Period. (c) If, prior to the end of the Restriction Period, the Holder’s employment with the Company terminates for any reason other than death or Disability, or Retirement, the Units that are then unvested as of the effective date of the Holder’s termination of employment shall be forfeited by the Holder and such portion shall be cancelled by the Company. (d) In the event of a Change in Control, as defined in the Plan, the Units shall immediately vest in full and the restrictions shall lapse as provided in Section 6.8 of the Plan; provided, however, that in the event that (i) the Units constitute the payment of nonqualified deferred compensation within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) the Change in Control does not constitute a “change in control event’ within the meaning of Section 409A of the Code, the Units shall not immediately vest upon such Change in Control, but instead shall vest and be payable in accordance with the vesting schedule set forth in clause (i) of Section 1(a) hereof, or earlier pursuant to Section 1(b) hereof.

  • Vesting Period The vesting period of the Restricted Stock (the “Vesting Period”) begins on the Grant Date and continues until such date as is set forth on Schedule A as the date on which the Restricted Stock is fully vested. On the first Annual Vesting Date following the date of this Agreement and each Annual Vesting Date thereafter the number of shares of Restricted Stock equal to the Annual Vesting Amount shall become vested, subject to earlier forfeiture as provided in this Agreement. To the extent that Schedule A provides for amounts or schedules of vesting that conflict with the provisions of this paragraph, the provisions of Schedule A will govern. Except as permitted under Section 10, the shares of Restricted Stock for which the applicable Vesting Period has not expired may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (whether voluntary or involuntary or by judgment, levy, attachment, garnishment or other legal or equitable proceeding). The Employee shall not have the right to receive cash dividends paid on shares of Restricted Stock for which the applicable Vesting Period has not expired. In lieu thereof, the Employee shall have the right to receive from the Company an amount, in cash, equal to the cash dividends payable on shares of Restricted Stock for which the applicable Vesting Period has not expired, provided the Employee is employed by the Company on the payroll date coinciding with or immediately following the date any such cash dividends are paid on the Restricted Shares. The Employee shall have the right to vote the Restricted Stock, regardless of whether the applicable Vesting Period has expired.