Second Vesting Date Clause Samples
The "Second Vesting Date" clause defines the specific date on which a second portion of equity, options, or other rights becomes vested and available to the recipient, typically as part of a broader vesting schedule. In practice, this means that after the initial vesting event, an additional tranche of shares or benefits is released to the individual on the second vesting date, often contingent on continued service or meeting certain milestones. This clause ensures a structured and predictable allocation of benefits over time, incentivizing ongoing commitment and performance.
Second Vesting Date. With respect to all Performance Units granted to Employee that vest on the Second Vesting Date, an amount equal to the Second Vesting Date Unit Value (as defined in Section 4(c)(ii) below) multiplied by the number of Performance Units granted under this Award that vest on the Second Vesting Date. Such amount shall be paid to Employee (or his Beneficiary) in accordance with Section 4(a) of this Agreement. Unit Values for Performance Units that vest on the Second Vesting Date shall not remain subject to adjustment as of the Third Vesting Date.
Second Vesting Date percent (XX%) of the shares of the Restricted Stock Award shall become vested, and the restrictions on such shares shall lapse, on [_____________];
Second Vesting Date. With respect to all Performance Units granted to Employee that vest on the Second Vesting Date, if any, an amount equal to the sum of the following amounts shall be paid to Employee (or his Beneficiary) in accordance with Section 5(a) of this Agreement:
(A) the total 2012 Unit Value (determined in accordance with Section 2(a)) of all Performance Units that vested in accordance with Section 3(b)(ii); and
(B) the total 2013 Unit Value (determined in accordance with Section 2(b)) of all Performance Units that vested in accordance with Section 3(b)(i). Unit Values for Performance Units that vest on the Second Vesting Date shall not remain subject to adjustment as of the Third Vesting Date.
Second Vesting Date. 26-2/3% of the total number of Shares shall become exercisable on the Second Vesting Date (as defined below), provided that the cumulative License Fees payable under the TDLA for all periods through the first anniversary of the Initial Vesting Date are at least $5,000,000.
Second Vesting Date. The term “Second Vesting Date” shall have the meaning set forth in Section 3 of this Agreement.