Time-Based Restricted Shares. A restricted stock award of 40,000 shares of the Company’s common stock. In the event that the Executive’s employment is terminated for Cause or is voluntarily terminated by the Executive other than for Good Reason, any such shares that are unvested at the time of such termination of employment shall be forfeited to the Company (in exchange for no consideration). Such shares will vest as to 10,000 shares on the first anniversary of the Employment Date and as to an additional 2,500 shares at the end of each successive three-month period following the first anniversary of the Employment Date until the fourth anniversary of the Employment Date.
Time-Based Restricted Shares. Until your Time-Based Restricted Shares vest, you may not sell, assign, pledge or otherwise transfer such Shares (or any interest in or right to such Shares), other than by will or the laws of descent and distribution, and any such attempted transfer will be void (the “Restrictions”). The Time-Based Restricted Shares vest, and the Restrictions will lapse, in accordance with the following vesting schedule: ________ of the Time-Based Restricted Shares shall vest on the one-year anniversary of the Award Date; ________ of the Time-Based Restricted Shares shall vest on the two-year anniversary of the Award Date; and ________ of the Time-Based Restricted Shares shall vest on the three-year anniversary of the Award Date.
Time-Based Restricted Shares. The undersigned currently holds 64,649 unvested time-based restricted shares (“Restricted Shares”). The Company agrees to take such steps as are necessary such that, as of the Separation Date, all unvested Restricted Shares will vest.
Time-Based Restricted Shares. If you die while in the employment or service of Cass or its Subsidiaries, the Restriction Period will lapse with respect to all outstanding Time-Based Restricted Shares and Xxxx shall deliver the Shares subject to this Award Agreement to your Designated Beneficiary or as provided in Section 6.e. if a Beneficiary has not been designated, has died or cannot be located. Subsequently, such Shares shall not be subject to forfeiture after your death. If you become Totally Disabled or a Change of Control occurs, that results in termination of service, while you are employed by or in the service of Cass or its Subsidiaries, the Restriction Period will lapse with respect to all outstanding Time-Based Restricted Shares and Xxxx shall deliver the Shares subject to this Award Agreement to you. Subsequently, such Shares shall not be subject to forfeiture after the occurrence of your Total Disability or a Change of Control occurs, that results in termination of service and such shares shall be delivered in the same manner as provided in this Section 2. b.
Time-Based Restricted Shares. Except as otherwise provided in the Plan and this Agreement, subject to the Participant’s continued employment with the Company, the Time-Based Restricted Shares shall vest and become non-forfeitable in equal installments on each of the first three (3) anniversaries of the Effective Date.
Time-Based Restricted Shares. A restricted stock award of 349,780 shares of the Company’s common stock. Such award shall vest as to one-third of the shares underlying the award on December 31, 2012; one-third on December 31, 2013 and the remaining one-third on December 31, 2014, provided that the Executive is employed by the Company or its affiliate on the applicable vesting date. In the event that the Executive’s employment is terminated for Cause or is voluntarily terminated by the Executive other than for Good Reason, any such shares that are unvested at the time of such termination of employment shall be forfeited to the Company (in exchange for no consideration).
Time-Based Restricted Shares. Until your Time-Based Restricted Shares vest, you may not sell, assign, pledge or otherwise transfer such Shares (or any interest in or right to such Shares), other than by will or the laws of descent and distribution, and any such attempted transfer will be void (the "Restrictions"). The Time-Based Restricted Shares vest, and the Restrictions will lapse, in accordance with the vesting schedule stated in the Award Notification.
Time-Based Restricted Shares. In connection with the negotiation and execution of this Agreement, within 10 days after the date hereof, the Executive shall receive a grant of 289,505 shares of restricted Company common stock (the “Time-Based Restricted Shares”). The Time-Based Restricted Shares will vest and the restrictions thereon will lapse in equal installments on each of the first four anniversaries of the Effective Date, subject to and conditioned upon the Executive’s continued employment with the Company through each such vesting date. If the Executive’s employment with the Company terminates prior to the vesting of any of the Time-Based Restricted Shares (except as otherwise provided in this Section 5(c), Sections 8(a)(iv), 8(c) and 8(d)) such unvested Time-Based Restricted Shares will not vest and will be forfeited and terminated upon such termination.
Time-Based Restricted Shares. Reference is made to that certain Restricted Stock Agreement Grant Notice (the “Time-Based Agreement”) under the 2014 Plan, pursuant to which you were granted restricted shares with time-based vesting (the “Time-Based Shares”). As of the date hereof, 159,340 Time-Based Shares are scheduled to vest on September 9, 2022. The Company hereby confirms that in accordance with the terms of the Time-Based Agreements, the Time-Based Shares will continue to vest according to the terms of such agreements subject to your Topco Service through such vesting date. For the avoidance of doubt, the foregoing does not reflect a change to the existing provisions of the Time-Based Agreement. The Company further agrees that in the event that you are removed from or asked to leave the board of directors of Topco following the Transaction Closing, other than your voluntary resignation or termination or removal for Cause (as such term is defined in your Employment Agreement), then all Time-Based Shares that are then outstanding and unvested shall vest in full immediately upon such removal.
Time-Based Restricted Shares. Restricted Period. Until your Restricted Shares vest as provided below, they are subject to the restrictions described in Section 3.2 (the "Restrictions") during the period (the “Restricted Period”) beginning on the Award Date and ending three years later. The Restrictions will lapse and the Restricted Shares will become transferable and non-forfeitable in cumulative installments as follows, unless otherwise provided in this Agreement: Award Date 25% 1st Anniversary of Award Date 25% 2nd Anniversary of Award Date 25% 3rd Anniversary of Award Date 25% Upon vesting of each 25% installment, the Restricted Shares that have become vested will be delivered to you within 30 days, in the form of either book-entry registration or a stock certificate.
