Lapse of Restrictions and Forfeiture. (a) The restrictions on transfer imposed on the shares of Restricted Stock by Section 3 and this Section 4 shall lapse with respect to the shares of Restricted Stock and the Participant will vest, or gain actual “ownership” of the shares of Restricted Stock in accordance with the following schedule provided that the Participant has not had a termination of Service for any reason prior to the applicable vesting date: Vesting Date Cumulative Vesting Percentage First anniversary of the Grant Date 25% Second anniversary of the Grant Date 50% Third anniversary of the Grant Date 75% Fourth anniversary of the Grant Date 100%
Appears in 6 contracts
Samples: Restricted Stock Agreement (Par Pacific Holdings, Inc.), 2016 Restricted Stock Agreement (Par Pacific Holdings, Inc.), 2016 Restricted Stock Agreement (Par Pacific Holdings, Inc.)
