Lapse of Forfeiture Restrictions (Vesting). Provided that Employee has been continuously employed by the Company from the Date of Grant through _______________ (the “Lapse Date”), and in compliance with the Agreement and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, on the Lapse Date. Except as provided in Subsection (c) below, the Company will issue one share of Common Stock to Employee on the date each RSU is scheduled to become vested under this Section 3(b). Except as provided in Subsection (c) below, any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.
Lapse of Forfeiture Restrictions (Vesting). Provided that the Grantee has continuously served as a Director of the Company from the Date of Grant through the lapse date set forth in the following schedule, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: [TBD] [TBD] Notwithstanding the schedule set forth above, (i) if the Grantee’s service as a Director is terminated by reason of death or Disability or due to an Involuntary Termination, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Stock Units effective as of the date of such termination, and (ii) if a Change in Control occurs and the Grantee has continuously served as a Director of the Company from the Date of Grant to the date upon which such Change in Control occurs, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Stock Units on the date upon which such Change in Control occurs. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested Dividend Equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of the Grantee’s service as a Director.
Lapse of Forfeiture Restrictions (Vesting). Provided that Employee has been continuously employed by the Company from the Date of Grant through the scheduled “Lapse (Vesting) Date” set forth in the following schedule, and in compliance with Exhibit A and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule:
Lapse of Forfeiture Restrictions (Vesting). Provided that the Grantee has continuously served as a Director from the Date of Grant through the lapse date set forth in the following schedule, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: [ %] Notwithstanding the schedule set forth above, if the Grantee’s serviced as a Director is terminated by reason of death or Disability, then the Forfeiture Restrictions shall lapse with respect to 100% of the Restricted Stock Units effective as of the date of such termination. Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of the Grantee’s service with the Company as a Director.
Lapse of Forfeiture Restrictions (Vesting). Provided that the Grantee has continuously served as a Director of the Company from the Date of Grant through the lapse date set forth in the following schedule, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule:
Lapse of Forfeiture Restrictions (Vesting). Except as otherwise provided in this Incentive Agreement, the restrictions described in Section 2(e) of this Incentive Agreement will lapse on the date or dates, as the case may be, set forth on Exhibit A to this Incentive Agreement (each a "Vesting Date"); provided, that, the Grantee is still employed by the Company on each such Vesting Date. In the event of the Grantee's termination of employment prior to the date that all of the Restricted Stock is vested, except as otherwise provided in this Incentive Agreement, all Restricted Stock still subject to restriction shall be forfeited.
(a) If the Grantee's termination of employment is due to death, Disability, Involuntary Termination (as defined below) or Retirement and such death, Disability, Involuntary Termination or Retirement occurs prior to the date that all of the Restricted Stock is vested, all restrictions will lapse with respect to 100% of the Restricted Stock still subject to restriction on the date of such death, Disability, Involuntary Termination or Retirement. For purposes hereof, "Involuntary Termination" shall mean an involuntary termination of the Grantee's employment by the Company for any reason other than Cause and which does not result from a resignation by the Grantee.
(b) If the Grantee's termination of employment is for any other reason and such termination occurs prior to the date that all of the Restricted Stock is vested, the Restricted Stock still subject to restriction shall, for no consideration, automatically be forfeited upon such cessation of employment.
Lapse of Forfeiture Restrictions (Vesting). Provided that the Grantee has continuously served as a Director of the Company from the Date of Grant through the lapse date set forth in the following schedule, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: [ %] The foregoing vesting schedule notwithstanding, if the Grantee’s continuous service as a Director of the Company terminates for any reason at any time before all of his or her Restricted Stock Units have vested, the Grantee’s unvested Restricted Stock Units shall be automatically forfeited upon such termination of continuous service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.
Lapse of Forfeiture Restrictions (Vesting). Provided that Employee has been continuously employed by the Company from the Date of Grant through the scheduled “Lapse (Vesting) Date” set forth in the following schedule, and in compliance with Exhibit A and all other agreements or obligations to the Company, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: February 22, 2023 33-1/3 % February 22, 2024 33-1/3 % February 22, 2025 33-1/3 % Except as provided in Subsection 3(c) below, the Company will issue one share of Common Stock to Employee on the date each RSU is scheduled to become vested under this Section 3(b). Any Restricted Stock Units with respect to which the Forfeiture Restrictions do not lapse in accordance with the preceding provisions of this Section 3(b) (and any associated unvested dividend equivalents) shall be forfeited to the Company for no consideration as of the date of the termination of Employee’s employment with the Company.
Lapse of Forfeiture Restrictions (Vesting). All forfeiture restrictions on Restricted Stock shares granted to Mr. xxx Xxxxx shall lapse (i.e., the Restricted Stock shall vest) as of the earlier of January 1, 2003 or the first day of the calendar year after which Mr. xxx Xxxxx has notified MEMC in writing that he has repatriated to Germany. All forfeiture restrictions on all Restricted Stock shares granted to Mr. xxx Xxxxx shall lapse upon the death of Mr. xxx Xxxxx. The period between the Grant Date and the lapse of all forfeiture restrictions shall hereinafter be referred to as the "Restriction Period."
Lapse of Forfeiture Restrictions (Vesting). Provided that Employee has been continuously employed by the Company from the Date of Grant through the lapse date set forth in the following schedule, the Forfeiture Restrictions shall lapse, and the Restricted Stock Units will vest, with respect to a percentage of the Restricted Stock Units determined in accordance with the following schedule: [ %] The foregoing vesting schedule notwithstanding, subject to the terms of any written employment agreement between Employee and the Company, if Employee’s continuous service terminates for any reason at any time before all of his or her Restricted Stock Units have vested, Employee’s unvested Restricted Stock Units shall be automatically forfeited upon such termination of continuous service and neither the Company nor any Affiliate shall have any further obligations to Employee under this Agreement.
