Shares Subject to Forfeiture. The Shares are subject to time-based and performance-based vesting requirements.
Shares Subject to Forfeiture. In the event that Executive's employment with the Company is terminated before April 30, 2017, Executive will forfeit all right to the Shares. Notwithstanding the previous sentence, if Executive's employment is terminated before that date and after April 30, 2015 for a Triggering Event (as defined below), all of the Shares will become immediately vested and nonforfeitable.
Shares Subject to Forfeiture. The Shares are subject to vesting requirements as established in connection with the Management Incentive Plan, including the terms and conditions for awards made under the ____ Management Incentive Plan (the “MIP”). As described in more detail in the MIP, up to 100% of the Shares will vest at the time payments are made under the MIP as determined by dividing ___% of the Executive’s MIP Payout (as defined in the MIP) by $_____, and rounding to the nearest whole share. Executive will forfeit all Shares that do not vest at that time. In the event that Executive’s employment with the Company is terminated prior to vesting, Executive will forfeit all right to the Shares.
Shares Subject to Forfeiture. The Shares are subject to vesting requirements as established in connection with the Management Incentive Plan, including the terms and conditions for awards made in 2015 under the Management Incentive Plan (the "MIP"). As described in more detail in the MIP, the portion of the Shares that vest will be calculated at the time payments are made under the MIP by multiplying the number of Shares by the "Payout Percentage," which this purpose means one-half of the percentage calculated by dividing the amount of the Executive's MIP Payout (as defined in the MIP) by the amount of the Executive's Incentive Target (as defined in the MIP), and rounding to the nearest whole Share. Executive will forfeit all Shares that do not vest at that time. In the event that Executive's employment with the Company is terminated prior to vesting, Executive will forfeit all right to the Shares.
Shares Subject to Forfeiture a. The Shares are subject to vesting requirements as established in connection with the Management Incentive Plan, including the terms and conditions for awards made under the ________ Management Incentive Plan (the “MIP”). As described in more detail in the MIP, up to 100% of the Shares will vest at the later of the time payments are made under the MIP (the “Payout Time”) or one (1) year from the Grant Date, and will vest as determined by dividing ___% of the Executive’s MIP Payout (as defined in the MIP) by $_____, and rounding to the nearest whole share. Executive will forfeit all Shares that do not vest at that time.
Shares Subject to Forfeiture a. The Shares are subject to vesting requirements as established in connection with the Management Incentive Plan, including the terms and conditions for awards made under the ____ Management Incentive Plan (the “MIP”). As described in more detail in the MIP, up to 100% of the Shares will vest at the time payments are made under the MIP as determined by dividing ___% of the Executive’s MIP Payout (as defined in the MIP) by $_____, and rounding to the nearest whole share. Executive will forfeit all Shares that do not vest at that time, or earlier in the case of Executive’s Disability as set forth in subsection b. below.
Shares Subject to Forfeiture. A. The Shares will vest (the “Vesting Time”) at the latter of (i) the Company’s next Annual Meeting of Stockholders (the “Meeting”) and (ii) the one year anniversary of the Grant Date. In addition, vesting is subject to (i) the Director’s service as a member of the Company’s Board of Directors (the “Board”) through the Vesting Time, unless that Director’s current Board term expires at the Meeting, in which case vesting is subject to the Director’s service as a member of the Company’s Board to the Meeting, and (ii) the Director not engaging in “Competition” prior to the Vesting Time. For purposes of this Agreement, Director will be deemed to have engaged in “Competition” if Director, without the written consent of the Board, directly or indirectly (i) provides services or assistance in any form to any individual, entity, or company providing veterinary products for the companion animal health industry or imaging products or services for the veterinary market (a “Restricted Company”), whether such services or assistance is provided as an employee, consultant, agent, corporate officer, director, or otherwise or (ii) participates in the financing, operation, management, or control of, a Restricted Company. A Restricted Company includes, without limitation, Abaxis, Inc., IDEXX Laboratories, Inc., scil animal health company GmbH (currently a wholly-owned subsidiary of Xxxxx Xxxxxx, Inc.), Sound Technologies, Inc. (currently a wholly-owned subsidiary of VCA Inc.), and Synbiotics Corporation (currently a wholly owned subsidiary of Zoetis Inc.). Notwithstanding the foregoing, Director shall not be deemed to be in Competition if Director is employed or engaged in a corporate function or senior management position (and holding commensurate equity interests) in a division of a Restricted Company, so long as such division is not in any way engaged in providing veterinary products for the companion animal health industry or imaging products or services for the veterinary market and Director does not directly or indirectly provide services or assistance to any division that does provide veterinary products for the companion animal health industry or imaging products or services for the veterinary market.
Shares Subject to Forfeiture. Of the 750,000 shares to be initially retained by Dilapo, up to 150,000 shares shall be subject to forfeiture based on whether and to what extent U.S. Energy Development Corporation. (“U.S. Energy”) or another entity identified and introduced to the Company by Dilapo and accepted as a partner by the Company (“Oilco”), participates as a working interest partner with the Company in two oil and/or gas xxxxx proposed to be drilled by the Company in the Buck Peak Field in Moffat County, Colorado. If U.S. Energy or Oilco (a) acquires a working interest equal to or greater than 40% in both xxxxx, and (b) executes an operating agreement acceptable in form and substance to the Company, in each case not later than June 30, 2014, then Dilapo shall retain the 150,000 shares, and the certificate and stock power being held by the Company pursuant to Section 2 shall be delivered to Dilapo, free and clear of any claims by the Company. If either U.S. Energy or Oilco satisfy condition (b) of this Section 3, but the working interest is less than 40% but at least 10%, the number of shares that Dilapo must forfeit will be increased proportionately. By way of example, if the working interest acquired is 20%, Dilapo shall forfeit 75,000 shares, calculated as 20%/40% = ½ x 150,000 = 75,000. If US Energy or Oilco should fail to complete the acquisition of at least a 10% working interest in both xxxxx on or before June 30, 2014, Dilapo shall forfeit the entire 150,000 shares to the Company, and the certificate representing those shares shall be cancelled and the shares returned to the Company’s treasury.
Shares Subject to Forfeiture a. The Shares are subject to vesting requirements as established in connection with the MIP, including the terms and conditions for awards made under the MIP. As described in more detail in the MIP, up to one-hundred percent (100%) of the Shares will vest at the later of (i) the time that payments are made under the MIP (the “Payout Time”) or (ii) one (1) year from the Grant Date, with the amount of Shares vesting determined by dividing _______ percent (____%) of the Executive’s MIP Payout (as defined in the MIP) by $_______ and rounding to the nearest whole Share. Executive shall forfeit all Shares that do not vest at that time.
