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Terms of Vesting Sample Clauses

Terms of Vesting. The options will vest over a period of four years starting on the date of commencement of work (“date of commencement”), and provided that at the relevant date of the vesting the CEO is an employee of the Company: 0.9% of the issued and paid-up share capital of Brainsway on the basis of full dilution correct as of the date of the agreement (meaning, 25% of the total of the options) shall vest at the end of one year from the date of commencement and the remainder in equal parts (meaning, 0.225% of the issued and paid-up share capital of Brainsway on the basis of full dilution as of the date of the agreement) shall vest upon the passage of every three months thereafter.
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Terms of Vesting. The interest of Director in the Stock shall be fully vested on the one year anniversary of the date of this Agreement (the “Vesting Date”) provided that, if Director voluntarily terminates as a director prior to the one year anniversary, Director shall vest on the date of termination in one-twelfth (1/12th) of the Grant Amount for each full calendar month from the Grant Date until such termination.
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Terms of Vesting. The interest of the Employee in the Stock shall vest on the fifth anniversary of the Grant Date (the “Vesting Date” as it may be adjusted pursuant to subsection 2.4) in an amount equal to that percentage (the “Vesting Percentage”) of the total Grant Amount as determined pursuant to this Section 2.
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Terms of Vesting. (a) Except as provided in (b) below, the Shares shall be forfeited: (i) if the Employee ceases to be employed by the Company for any reason, prior to November 25, 2010; or (ii) if the Forest River Transaction does not close pursuant to the Terms of the Forest River Transaction Agreement. (b) Notwithstanding the foregoing, Employee shall become fully vested in the Shares if: (i) his/her employment terminates as a result of his/her death or disability; or (ii) the Company undergoes a Change of Control as defined in Section 10 of the Omnibus Plan. (c) Any Shares forfeited under paragraph 2.(a) above shall terminate and become null and void. To further this end, the employee agrees to sign the stock power attached as Exhibit B hereto ("Stock Power") and to allow the Company to hold the Shares and the Stock Power until all restrictions in paragraph 2(a) lapse. If the Employee has not forfeited his or her Shares, the Company will release the signed Stock Power and the Shares to the employee when the restrictions in paragraph 2(a) lapse. (d) Prior to vesting, the Employee shall be entitled to vote the unvested Shares and to receive all distributions made with respect to the unvested Shares.
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Terms of Vesting. The Settlement Legislation will provide: (a) That the vesting of the Part Humuhumu Lake Bed under clause 4.10.2 (a) will not confer any rights or impose any obligations on Te Uri o Hau Governance Entity in respect of ownership, management or control of the waters of Lake Humuhumu or the aquatic life of Lake Humuhumu ; (b) That nothing in clause 4.10.3 (a) affects any obligations of Te Uri o Hau Governance Entity as owner of the Part Humuhumu Lake Bed; (c) That all lawful rights of public access to, and of recreational use and enjoyment affecting, the bed of Lake Humuhumu remain unaffected by the vesting under clause 4.10.2 of the fee simple estate in the Part Lake Humuhumu Bed for so long as, and to the extent that, such rights otherwise remain lawful; and (d) That the vesting under clause 4.10.2 (a) is subject to: (i) Any commercial use affecting the bed of Lake Humuhumu; and (ii) Rights of ownership, use and occupation of structures attached to the bed of Lake Humuhumu,
Sample 1

Related to Terms of Vesting

  • Acceleration of Vesting Notwithstanding any provision of the Plan or this Agreement to the contrary, in the event of a Change in Control prior to the date that the Option is fully vested and exercisable, the Option shall become immediately vested and exercisable with respect to 100% of the Shares in each remaining vesting tranche. To the extent practicable, such acceleration of vesting and exercisability shall occur in a manner and at a time which allows the Participant the ability to participate in the Change in Control with respect to the Shares of Common Stock received.

  • Effect of Vesting Upon Vesting, the Company shall cause to be delivered to the Recipient (i) a certificate for the Shares which have vested free and clear of restrictive legends and (ii) any stock powers signed hereunder by the Recipient remaining in its possession related to the vested shares. In the event that the Recipient dies before delivery of the certificate, such certificate shall be delivered to, and registered in the name of, the Recipient's beneficiary or estate, as the case may be.

  • Vesting Provisions Subject to the provisions of paragraph 3 below, the option shall vest 331/3% on each of July 31, 2017, July 31, 2018 and July 31, 2019, except as follows:

  • General Vesting The Shares of Restricted Stock shall become vested in the following amounts, at the following times and upon the following conditions, provided that the Termination of Service of the Participant does not occur before the applicable date on which the Shares of Restricted Stock become vested (the “Vesting Date”): Except as otherwise provided in Sections 2(b) and 4 hereof, there shall be no proportionate or partial vesting of Shares of Restricted Stock in or during the months, days or periods prior to each Vesting Date, and all vesting of Shares of Restricted Stock shall occur only on the applicable Vesting Date.

  • Terms of Grant The Participant hereby accepts the offer of the Company to issue to the Participant, in accordance with the terms of the Plan and this Agreement, ______________________ (_________) Shares of the Company's Common Stock (such shares, subject to adjustment pursuant to Section 24 of the Plan and Subsection 2.1(h) hereof, the "Granted Shares") at a purchase price per share of $.0001 (the "Purchase Price"), receipt of which is hereby acknowledged by the Participant's prior service to the Company and which amount will be reported as income on the Participant's W-2 for this calendar year.

  • Terms of Plan This Agreement is entered into pursuant to the Plan (a copy of which has been delivered to the Grantee). This Agreement is subject to all of the terms and provisions of the Plan, which are incorporated into this Agreement by reference, and the actions taken by the Committee pursuant to the Plan. In the event of a conflict between this Agreement and the Plan, the provisions of the Plan shall govern. All determinations by the Committee shall be in its sole discretion and shall be binding on the Company and the Grantee.

  • Equity Vesting All of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, all performance goals and other vesting criteria will be deemed achieved at the greater of actual performance or 100% of target levels. Unless otherwise required under the next following two sentences or, with respect to awards subject to Section 409A of the Code, under Section 5(b) below, any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination. For the avoidance of doubt, if the Executive’s Qualified Termination occurs prior to a Change in Control, then any unvested portion of the Executive’s then-outstanding equity awards will remain outstanding for 3 months or the occurrence of a Change in Control (whichever is earlier) so that any additional benefits due on a CIC Qualified Termination can be provided if a Change in Control occurs within 3 months following the Qualified Termination (provided that in no event will the Executive’s stock options or similar equity awards remain outstanding beyond the equity award’s maximum term to expiration). In such case, if no Change in Control occurs within 3 months following a Qualified Termination, any unvested portion of the Executive’s equity awards automatically will be forfeited permanently on the 3-month anniversary of the Qualified Termination without having vested.

  • Time-Based Vesting Fifty Percent (50%) of the Executive Stock shall vest on each date set forth below (each, a "Vesting Date") as to that number of shares of the Executive Stock set forth opposite such Vesting Date: Vesting Date No. of shares of Executive Stock ------------ -------------------------------- On the first anniversary of the Effective 12.5% of the Executive Stock Date After the first anniversary of the Effective An additional 1.0417% of the Executive Stock Date through the fourth anniversary of the on the first day of each calendar month after the Effective Date first anniversary of the Effective Date until 50% of the Executive Stock is vested

  • Terms of Award The following terms used in this Agreement shall have the meanings set forth in this paragraph 1:

  • Accelerated Vesting (a) Immediately prior to the effective date of the Change in Control, the Unvested Shares subject to this option shall automatically become Vested Shares, and this option shall become exercisable for all of the Option Shares. However, the Unvested Shares shall not vest on such an accelerated basis if and to the extent: (i) this option will be assumed by the successor corporation (or parent thereof) or otherwise continued in effect pursuant to the terms of the Change in Control transaction or (ii) this option is to be replaced with a cash incentive program of the successor corporation which preserves the spread existing on the Unvested Shares at the time of the Change in Control (the excess of the Fair Market Value of those Unvested Shares over the Exercise Price payable for such shares) and provides for subsequent payout of that spread no later than the time Optionee would otherwise vest in the Option Shares as set forth in the Grant Notice. (b) Immediately following the Change in Control, this option shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in effect pursuant to the terms of the Change in Control transaction. (c) If this option is assumed in connection with a Change in Control or otherwise continued in effect, then this option shall be appropriately adjusted, upon such Change in Control, to apply to the number and class of securities which would have been issuable to Optionee in consummation of such Change in Control had the option been exercised immediately prior to such Change in Control, and appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain the same. To the extent that the holders of Common Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the successor corporation (or its parent) may, in connection with the assumption of this option, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in Control. (d) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

Most Referenced Clauses

Most Referenced Definitions