Service Vesting Condition. You must remain in the continuous service of the Company, Sterling National Bank and/or any of their subsidiaries from the Award Date through the December 31, 2021 vesting date (the “Vesting Date”) specified in this Award Notice (the “Service Vesting Condition”) in order to vest in any Performance Award Shares upon the achievement of either of the two Performance Goals during the Performance Period.
Service Vesting Condition. (a) The Earned PRSUs with respect to each Performance Period will vest and become nonforfeitable on the respective Determination Date, immediately upon the Committee’s determination and certification that such PRSUs have been earned, provided that the Grantee remains continuously employed with the Company from the Grant Date through the applicable Determination Date on which vesting occurs. Except as otherwise provided in Section 5(b) or (c), upon the Grantee’s Termination for any reason at any time before all of his or her PRSUs have vested, the Grantee’s unvested PRSUs shall be automatically forfeited upon such Termination and the Company shall not have any further obligations to the Grantee under this Award Agreement.
(b) If the Grantee’s employment terminates during a Performance Period as a result of the Grantee’s death or Disability, the Grantee will vest in a pro rata portion of the PRSUs granted with respect to such Performance Period, determined by multiplying the PRSUs awarded with respect to such Performance Period by a fraction, the numerator of which equals the number of days that the Grantee was employed during such Performance Period and the denominator of which equals 365. For purposes of this Section 5(b), “Disability” has the same meaning as such term is defined in the Company’s long-term disability insurance policies which now or hereafter cover the permanent disability of the Grantee or, in the absence of such policies, means the inability of the Grantee to work in a customary day-to-day capacity for six consecutive months or for six months within a 12 month period, as determined by the Board.
(c) In the event the Grantee’s employment is terminated by the Company without Cause, or by the Grantee for Good Reason, in either case within six months prior to or two years following a Change in Control, all PRSUs granted pursuant to this Award Agreement, to the extent not previously forfeited or settled, shall become fully vested and nonforfeitable as of the date of the Grantee’s termination of employment.
Service Vesting Condition. Notwithstanding any provisions to the contrary in the Plan, but subject to any provision in the Participant’s employment agreement that specifically references this Award Agreement (but, for the avoidance of doubt, without giving effect to any other provision in such agreement or in any other individual agreement (including a Transition and Succession Agreement)), the vesting of the Performance RSUs shall be subject to the Participant’s continued employment with the Company or its Subsidiaries through (i) in the case of settlement pursuant to Section 2 of this Award Agreement, December 31, 2018 and (ii) in the case of settlement pursuant to Section 4 of this Award Agreement, the date of the applicable Change in Control (the “Service Vesting Condition”).
Service Vesting Condition. Except as otherwise provided in Section 3 hereof, the Shares subject to the Option will satisfy the service-vesting condition based on Participant’s continued employment with the Company or any Affiliate over a period of forty-eight (48) months from the Grant Date, with one forty-eighth (1/48th) vesting on the first monthly anniversary of the Grant Date and one forty-eighth (1/48th) vesting on each monthly anniversary thereafter.
Service Vesting Condition. Notwithstanding any provisions to the contrary in the Plan, the vesting of the Chairman Retention RSUs shall be subject to the Participant’s continued service as chairman of the Board of Directors of the Company through each applicable Vesting Date (the “Service Vesting Condition”). Notwithstanding the foregoing or anything in this Award Agreement, the Letter Agreement or the Plan to the contrary, in the event Participant ceases to serve in the role of Chairman of the Board during the Initial Term for any reason (including death or disability), other than as the result of a voluntary resignation from such role without Good Reason or involuntary removal from such role for Cause (in each case as defined in the Letter Agreement), the Chairman Retention RSUs shall immediately vest upon such cessation and shall be settled in Ordinary Shares within three (3) business days of such cessation, as described in Section 7 of the Letter Agreement.
Service Vesting Condition. Notwithstanding any provisions to the contrary in the Plan, but subject to any provision to the contrary in (x) this Award Agreement or (y) the Participant’s employment agreement that specifically references this Award Agreement (but, for the avoidance of doubt, without giving effect to any other provision in such agreement or in any other individual agreement (including a Transition and Succession Agreement)), the vesting of the applicable number of SARs or Early Exercise Shares (after giving effect to Section 7(b)), as the case may be, shall be subject to the Participant’s continued employment with the Company or its Subsidiaries through (i) in the case of SARs, December 31, 2018 or (ii) in the case of Early Exercise Shares, the earlier of (x) the date (if any) that the Performance Vesting Condition achievement percentage is 100% (as certified by the Committee) and (y) December 31, 2018 (the “Service Vesting Condition”).
Service Vesting Condition. One hundred percent (100%) of any PSUs that become earned PSUs in accordance with paragraph (a) shall become vested as of the Performance Period End Date. Upon the termination of the Participant’s relationship with the Company (and/or a Subsidiary) as a Service Provider for any reason other than the death of the Participant prior to the Performance Period End Date, any then outstanding PSUs, whether or not earned, will be automatically and immediately forfeited for no consideration.
Service Vesting Condition. You do not have a Termination of Employment from the Company or its Affiliates before the Payment Date; except as provided in paragraph 2(b)(2) of Exhibit A. Restricted Shares that are not vested because either one or both of the above conditions have not been met on or before the earlier of (i) a Specified Change of Control and (ii) February 2, 2009 will be forfeited as of such date. FACTORY CARD & PARTY OUTLET CORP. By: Its: ACKNOWLEDGED AND AGREED TO BY:
Service Vesting Condition. Notwithstanding any provisions to the contrary in the Plan, except as otherwise provided in Sections 5 or 6 of this Award Agreement, the vesting of the Performance RSUs shall be subject to the Participant’s continued employment or service with the Company or its subsidiaries or Affiliates through (a) in the case of the Performance RSUs subject to each of the Threshold Performance Condition, the Base Performance Condition and the Target Performance Condition, the first anniversary of the date of the achievement of the applicable Performance Condition (or, if earlier, the Final Vesting Date) and (b) in the case of the Performance RSUs subject to each of the Overachieve Performance Condition and the Stretch Performance Condition, the Final Vesting Date (the “Service Condition”).
Service Vesting Condition. Subject to all the terms of this Agreement and to your continuous Service through the applicable dates of vesting, your right to purchase Shares under this Option shall vest as to three-fourths (3/4) of the total number of Shares covered by this Option, as shown above (or 37 Shares), over 12 calendar quarters based on time of service with 6.25% of the total number of Shares covered by this Option vesting on June 30, 2013 and an additional 6.25% at the end of each of the next eleven calendar quarters (with the last of such vesting occurring on March 31, 2016).
