{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "shares-of-restricted-stock", "type": "definition", "offset": [31, 57]}, {"key": "restrictions-by-reason", "type": "clause", "offset": [93, 115]}, {"key": "section-32", "type": "definition", "offset": [119, 130]}], "size": 28, "snippet": "\u201cVested Shares\u201d shall mean the shares of Restricted Stock which are no longer subject to the Restrictions by reason of Section 3.2.", "samples": [{"hash": "lqc7YGVLolH", "uri": "/contracts/lqc7YGVLolH#vested-shares", "label": "Restricted Stock Agreement (Integra Lifesciences Holdings Corp)", "score": 34.1416854858, "published": true}, {"hash": "kT7CWnAvGTp", "uri": "/contracts/kT7CWnAvGTp#vested-shares", "label": "Restricted Stock Agreement (Integra Lifesciences Holdings Corp)", "score": 34.1416854858, "published": true}, {"hash": "8EjtpGxLiYx", "uri": "/contracts/8EjtpGxLiYx#vested-shares", "label": "Restricted Stock Agreement", "score": 31.3408622742, "published": true}], "hash": "3443f3bfd969b9036d8552aca633fcab", "id": 1}, {"snippet_links": [{"key": "as-soon-as-practicable", "type": "definition", "offset": [0, 22]}, {"key": "award-shares", "type": "clause", "offset": [33, 45]}, {"key": "the-company-will", "type": "clause", "offset": [52, 68]}, {"key": "a-share", "type": "definition", "offset": [77, 84]}, {"key": "certificate-form", "type": "definition", "offset": [144, 160]}, {"key": "designated-broker", "type": "definition", "offset": [169, 186]}, {"key": "at-the-time", "type": "clause", "offset": [223, 234]}, {"key": "delivery-of-share-certificates", "type": "clause", "offset": [242, 272]}, {"key": "the-certificates", "type": "definition", "offset": [288, 304]}, {"key": "personal-representative", "type": "clause", "offset": [359, 382]}], "size": 19, "snippet": "As soon as practicable after the Award Shares vest, the Company will deliver a share certificate to you, or deliver shares electronically or in certificate form to your designated broker on your behalf. If you are deceased at the time that a delivery of share certificates is to be made, the certificates will be delivered to your executor, administrator, or personal representative.", "samples": [{"hash": "32EHTnECPH6", "uri": "/contracts/32EHTnECPH6#vested-shares", "label": "Restricted Stock Agreement", "score": 31.3408622742, "published": true}, {"hash": "14MWlnduuZy", "uri": "/contracts/14MWlnduuZy#vested-shares", "label": "Restricted Stock Agreement", "score": 31.3408622742, "published": true}, {"hash": "gcEEwm5dWYD", "uri": "/contracts/gcEEwm5dWYD#vested-shares", "label": "Restricted Stock Agreement (Fti Consulting Inc)", "score": 21.0, "published": true}], "hash": "10161c16a42f309939b59c722cfb9ece", "id": 3}, {"snippet_links": [{"key": "option-shares", "type": "definition", "offset": [0, 13]}, {"key": "the-company", "type": "definition", "offset": [68, 79]}, {"key": "written-consent", "type": "definition", "offset": [82, 97]}, {"key": "the-laws", "type": "definition", "offset": [117, 125]}, {"key": "in-accordance-with", "type": "definition", "offset": [158, 176]}, {"key": "section-16", "type": "definition", "offset": [195, 205]}, {"key": "if-applicable", "type": "definition", "offset": [207, 220]}], "size": 5, "snippet": "Option Shares that are Vested Shares may not be transferred without the Company's written consent except by will, by the laws of descent and distribution and in accordance with the provisions of Section 16, if applicable.", "samples": [{"hash": "eWvubSEcp8A", "uri": "/contracts/eWvubSEcp8A#vested-shares", "label": "Non Qualified Stock Option Agreement (Red Hat Inc)", "score": 18.0, "published": true}, {"hash": "bZSFA3HTu5L", "uri": "/contracts/bZSFA3HTu5L#vested-shares", "label": "Non Qualified Stock Option Agreement (Red Hat Inc)", "score": 18.0, "published": true}, {"hash": "6YvsYYQT0aW", "uri": "/contracts/6YvsYYQT0aW#vested-shares", "label": "Non Qualified Stock Option Agreement (Red Hat Inc)", "score": 18.0, "published": true}], "hash": "6d727d5729569f2da06ee951910b706a", "id": 8}, {"snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "in-this-agreement", "type": "definition", "offset": [29, 46]}, {"key": "the-participant", "type": "clause", "offset": [48, 63]}, {"key": "at-any-time", "type": "clause", "offset": [95, 106]}, {"key": "employment-with-the-company", "type": "clause", "offset": [132, 159]}, {"key": "board-of-directors-of-the-company", "type": "definition", "offset": [194, 227]}, {"key": "transfer-of-vested-shares", "type": "clause", "offset": [242, 267]}, {"key": "subject-to", "type": "clause", "offset": [282, 292]}, {"key": "company-policy", "type": "definition", "offset": [319, 333]}, {"key": "approval-by-the-board-of-directors", "type": "clause", "offset": [341, 375]}, {"key": "the-company-shall", "type": "clause", "offset": [379, 396]}, {"key": "a-sibling", "type": "clause", "offset": [513, 522]}, {"key": "to-a-trust", "type": "definition", "offset": [551, 561]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [562, 580]}], "size": 6, "snippet": "Except as otherwise provided in this Agreement, the Participant may not Transfer Vested Shares at any time during the Participant\u2019s employment with the Company without the prior approval of the Board of Directors of the Company. Any approved Transfer of Vested Shares shall also be subject to \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 rules and Company policy. Prior approval by the Board of Directors of the Company shall not be required for a gratuitous transfer by the Participant of Vested Shares to (i) an ascendant, a descendant, or a sibling of the Participant, or (ii) to a trust for the benefit of one or more such persons.", "samples": [{"hash": "a8Vh6R2M8g", "uri": "/contracts/a8Vh6R2M8g#vested-shares", "label": "Award Agreement (Westway Group, Inc.)", "score": 23.2423000336, "published": true}, {"hash": "96cr9caC7Yz", "uri": "/contracts/96cr9caC7Yz#vested-shares", "label": "Award Agreement (Westway Group, Inc.)", "score": 23.2423000336, "published": true}, {"hash": "4uOmmalPWp0", "uri": "/contracts/4uOmmalPWp0#vested-shares", "label": "Award Agreement (Westway Group, Inc.)", "score": 23.2423000336, "published": true}], "hash": "7b1a1cfa754af191924189768a259edb", "id": 7}, {"snippet_links": [{"key": "except-as-provided-in", "type": "clause", "offset": [0, 21]}, {"key": "the-stock-option-agreement", "type": "clause", "offset": [22, 48]}, {"key": "number-of-vested-shares", "type": "clause", "offset": [54, 77]}, {"key": "fractional-share", "type": "definition", "offset": [106, 122]}, {"key": "number-of-option-shares", "type": "definition", "offset": [172, 195]}, {"key": "vested-ratio", "type": "definition", "offset": [204, 216]}], "size": 10, "snippet": "Except as provided in the Stock Option Agreement, the number of Vested Shares (disregarding any resulting fractional share) as of any date is determined by multiplying the Number of Option Shares by the \u201cVested Ratio\u201d determined as of such date as follows:", "samples": [{"hash": "leeNCTz8MaF", "uri": "/contracts/leeNCTz8MaF#vested-shares", "label": "Stock Option Agreement (IsoRay, Inc.)", "score": 27.4777545929, "published": true}, {"hash": "4KpFT5fC8nm", "uri": "/contracts/4KpFT5fC8nm#vested-shares", "label": "Stock Option Agreement (IsoRay, Inc.)", "score": 27.4777545929, "published": true}, {"hash": "7jJIRZeazj", "uri": "/contracts/7jJIRZeazj#vested-shares", "label": "Stock Option Agreement (IsoRay, Inc.)", "score": 25.3668727875, "published": true}], "hash": "312f016143b7624423233ac0d110d299", "id": 5}, {"snippet_links": [{"key": "in-the-event-the", "type": "clause", "offset": [0, 16]}, {"key": "to-sell", "type": "clause", "offset": [36, 43]}, {"key": "transfer-to", "type": "definition", "offset": [65, 76]}, {"key": "a-party", "type": "clause", "offset": [77, 84]}, {"key": "permitted-transferee", "type": "clause", "offset": [98, 118]}, {"key": "pursuant-to-a", "type": "definition", "offset": [120, 133]}, {"key": "bona-fide", "type": "clause", "offset": [134, 143]}, {"key": "purchase-offer", "type": "clause", "offset": [144, 158]}, {"key": "shares-acquired", "type": "clause", "offset": [171, 186]}, {"key": "the-plan", "type": "clause", "offset": [193, 201]}, {"key": "at-any-time", "type": "clause", "offset": [233, 244]}, {"key": "major-event", "type": "definition", "offset": [271, 282]}, {"key": "the-initial-public-offering", "type": "clause", "offset": [296, 323]}, {"key": "the-company-shall", "type": "clause", "offset": [325, 342]}, {"key": "with-respect-to", "type": "clause", "offset": [377, 392]}, {"key": "the-purchaser-must", "type": "clause", "offset": [437, 455]}, {"key": "to-the-company", "type": "definition", "offset": [489, 503]}, {"key": "the-proposed", "type": "clause", "offset": [521, 533]}, {"key": "number-of-shares", "type": "definition", "offset": [558, 574]}, {"key": "transfer-price", "type": "clause", "offset": [616, 630]}, {"key": "name-and-address", "type": "clause", "offset": [639, 655]}, {"key": "proposed-transferee", "type": "clause", "offset": [663, 682]}, {"key": "a-copy-of-the", "type": "clause", "offset": [697, 710]}, {"key": "the-transfer-notice", "type": "clause", "offset": [737, 756]}, {"key": "by-the-purchaser", "type": "clause", "offset": [778, 794]}, {"key": "binding-commitment", "type": "definition", "offset": [848, 866]}, {"key": "of-both-parties", "type": "clause", "offset": [867, 882]}, {"key": "transfer-of-the-shares", "type": "clause", "offset": [890, 912]}, {"key": "right-of-first-refusal-with", "type": "clause", "offset": [919, 946]}, {"key": "sale-of-common-stock", "type": "clause", "offset": [997, 1017]}, {"key": "right-to-purchase", "type": "clause", "offset": [1118, 1135]}, {"key": "change-in", "type": "clause", "offset": [1250, 1259]}, {"key": "exercise-of-the-right-of-first-refusal", "type": "clause", "offset": [1331, 1369]}, {"key": "days-after", "type": "definition", "offset": [1380, 1390]}, {"key": "received-by-the-company", "type": "definition", "offset": [1429, 1452]}, {"key": "to-exercise", "type": "clause", "offset": [1475, 1486]}, {"key": "the-purchaser-may", "type": "clause", "offset": [1582, 1599]}, {"key": "receipt-of", "type": "clause", "offset": [1634, 1644]}, {"key": "notice-by-the-company", "type": "clause", "offset": [1658, 1679]}, {"key": "subject-to-the", "type": "clause", "offset": [1715, 1729]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [1749, 1773]}, {"key": "the-procedure", "type": "definition", "offset": [2058, 2071]}, {"key": "and-the-company", "type": "clause", "offset": [2173, 2188]}, {"key": "the-sale-of-the-shares", "type": "clause", "offset": [2225, 2247]}, {"key": "purchase-price-for", "type": "clause", "offset": [2323, 2341]}, {"key": "lesser-of", "type": "definition", "offset": [2367, 2376]}, {"key": "the-price", "type": "clause", "offset": [2377, 2386]}, {"key": "such-transfer-notice", "type": "definition", "offset": [2400, 2420]}, {"key": "fair-market-value", "type": "clause", "offset": [2424, 2441]}, {"key": "time-of-the", "type": "clause", "offset": [2484, 2495]}, {"key": "payment-condition", "type": "clause", "offset": [2566, 2583]}, {"key": "payment-for-the-purchase", "type": "clause", "offset": [2611, 2635]}, {"key": "condition-no", "type": "clause", "offset": [2675, 2687]}, {"key": "inure-to-the-benefit", "type": "clause", "offset": [2746, 2766]}, {"key": "successors-and-assigns", "type": "definition", "offset": [2774, 2796]}, {"key": "binding-upon", "type": "clause", "offset": [2810, 2822]}, {"key": "this-subsection", "type": "definition", "offset": [2880, 2895]}, {"key": "freely-assignable", "type": "clause", "offset": [2905, 2922]}], "size": 21, "snippet": "In the event the Purchaser proposes to sell, pledge or otherwise transfer to a party other than a Permitted Transferee, pursuant to a bona fide purchase offer, any vested Shares acquired under the Plan or any interest in such Shares at any time after the occurrence of a Major Event and prior to the Initial Public Offering, the Company shall have the \"Right of First Refusal\" with respect to all (and not less than all) of such Shares. The Purchaser must give a written \"Transfer Notice\" to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price and the name and address of the proposed transferee and including a copy of the bona fide purchase offer. The Transfer Notice shall be signed both by the Purchaser and by the proposed transferee and must constitute a binding commitment of both parties to the transfer of the Shares. Such right of First Refusal with respect to vested Shares shall terminate upon the sale of Common Stock by the Company pursuant to an Initial Public Offering. The Company and its assignees shall have the right to purchase all, and not less than all, of the Shares on the terms described in the Transfer Notice (subject, however, to any change in such terms permitted in the next paragraph) by delivery of a Notice of Exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company. If the Company fails to exercise its Right of First Refusal within 30 days after the date when it received the Transfer Notice, the Purchaser may, not later than 60 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions described in the Transfer Notice. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by the Purchaser, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described in the paragraph above. If the Company exercises its Right of First Refusal, the Purchaser and the Company (or its assignees) shall consummate the sale of the Shares on the terms set forth in the Transfer Notice; provided, however, that the purchase price for such shares shall be the lesser of the price described in such Transfer Notice or Fair Market Value and, provided further, however, if at the time of the exercise of such Right of First Refusal there shall exist any Company Payment Condition, the Company may defer the payment for the purchase until such time as the Company Payment Condition no longer exists. The Company's Right of First Refusal shall inure to the benefit of its successors and assigns and shall be binding upon any transferee of the Shares. The Company's rights under this Subsection shall be freely assignable, in whole or in part.", "samples": [{"hash": "99TWA6aHRm4", "uri": "/contracts/99TWA6aHRm4#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}, {"hash": "61w9urWOHJr", "uri": "/contracts/61w9urWOHJr#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}, {"hash": "50NDgrotE8s", "uri": "/contracts/50NDgrotE8s#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}], "hash": "01f7378663da997707db49fd292b4154", "id": 2}, {"snippet_links": [{"key": "the-term", "type": "clause", "offset": [0, 8]}], "size": 13, "snippet": "The term \u201c", "samples": [{"hash": "fBYwpEgOurB", "uri": "/contracts/fBYwpEgOurB#vested-shares", "label": "Share Exchange Agreement", "score": 25.5714035034, "published": true}, {"hash": "1kRZUYv9sn5", "uri": "/contracts/1kRZUYv9sn5#vested-shares", "label": "Share Restriction Agreement", "score": 24.1544628143, "published": true}, {"hash": "i2KtzkWIkUl", "uri": "/contracts/i2KtzkWIkUl#vested-shares", "label": "Stock Restriction Agreement", "score": 23.7624282837, "published": true}], "hash": "e6abc5b81feb3c0a954d10eb23e67d9b", "id": 4}, {"snippet_links": [{"key": "shares-purchased", "type": "definition", "offset": [10, 26]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [27, 53]}, {"key": "beneficial-interest", "type": "clause", "offset": [63, 82]}, {"key": "otherwise-disposed-of", "type": "definition", "offset": [148, 169]}, {"key": "by-operation-of-law", "type": "definition", "offset": [190, 209]}, {"key": "the-grantee", "type": "clause", "offset": [227, 238]}, {"key": "subsequent-transferee", "type": "clause", "offset": [246, 267]}, {"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [299, 337]}, {"key": "the-company", "type": "definition", "offset": [339, 350]}, {"key": "voting-trust-agreement", "type": "definition", "offset": [353, 375]}, {"key": "if-applicable", "type": "definition", "offset": [399, 412]}], "size": 8, "snippet": "No Vested Shares purchased pursuant to this Agreement, nor any beneficial interest in such Vested Shares, shall be sold, transferred, encumbered or otherwise disposed of in any way (whether by operation of law or otherwise) by the Grantee or any subsequent transferee, except in compliance with the terms and conditions of this Agreement, the Company\u2019s Voting Trust Agreement and Lock-up Agreement, if applicable.", "samples": [{"hash": "iWjdwB2ctJp", "uri": "/contracts/iWjdwB2ctJp#vested-shares", "label": "Restricted Common Stock Award Agreement (Nexcore Healthcare Capital Corp)", "score": 24.2470912933, "published": true}, {"hash": "eeCgsz5KYuO", "uri": "/contracts/eeCgsz5KYuO#vested-shares", "label": "Restricted Common Stock Award Agreement (Nexcore Healthcare Capital Corp)", "score": 24.2470912933, "published": true}, {"hash": "80NWFLMisjL", "uri": "/contracts/80NWFLMisjL#vested-shares", "label": "Restricted Common Stock Award Agreement (Nexcore Healthcare Capital Corp)", "score": 24.2470912933, "published": true}], "hash": "efa22207820553541bb562415e1af35d", "id": 6}, {"snippet_links": [{"key": "prior-to-the", "type": "clause", "offset": [0, 12]}, {"key": "major-event", "type": "definition", "offset": [29, 40]}, {"key": "the-purchaser-may-not", "type": "clause", "offset": [42, 63]}, {"key": "permitted-transfer", "type": "definition", "offset": [104, 122]}, {"key": "consent-of-the-company", "type": "clause", "offset": [159, 181]}], "size": 4, "snippet": "Prior to the occurrence of a Major Event, the Purchaser may not transfer vested Shares, other than by a Permitted Transfer or otherwise with the prior written consent of the Company.", "samples": [{"hash": "99TWA6aHRm4", "uri": "/contracts/99TWA6aHRm4#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}, {"hash": "61w9urWOHJr", "uri": "/contracts/61w9urWOHJr#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}, {"hash": "50NDgrotE8s", "uri": "/contracts/50NDgrotE8s#vested-shares", "label": "Common Stock Purchase Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}], "hash": "46c8fba2a78c3cb5537fe1d4f33dc5a8", "id": 9}, {"snippet_links": [{"key": "performance-shares", "type": "clause", "offset": [34, 52]}, {"key": "in-section-4", "type": "clause", "offset": [83, 95]}, {"key": "pursuant-to-sections-3", "type": "clause", "offset": [115, 137]}, {"key": "days-after", "type": "definition", "offset": [206, 216]}, {"key": "vesting-date", "type": "definition", "offset": [221, 233]}, {"key": "with-respect-to", "type": "clause", "offset": [234, 249]}, {"key": "stock-powers", "type": "clause", "offset": [281, 293]}, {"key": "the-grantee", "type": "clause", "offset": [340, 351]}, {"key": "ownership-rights", "type": "definition", "offset": [385, 401]}], "size": 4, "snippet": "Certificates representing awarded Performance Shares (without the legend described in Section 4) which have vested pursuant to Sections 3 shall be delivered to the affected Grantee within ten (10) business days after the Vesting Date with respect to such shares. At such time, the stock powers described in Section 4 will be destroyed, and the Grantee shall enjoy full shareholder and ownership rights with respect to such shares.", "samples": [{"hash": "feObGXQFZ2g", "uri": "/contracts/feObGXQFZ2g#vested-shares", "label": "Performance Share Grant Agreement (Georgia Pacific Corp)", "score": 18.0, "published": true}, {"hash": "dGBOvJBXeLg", "uri": "/contracts/dGBOvJBXeLg#vested-shares", "label": "Performance Share Grant Agreement (Georgia Pacific Corp)", "score": 18.0, "published": true}, {"hash": "9jPSAyJUBQ6", "uri": "/contracts/9jPSAyJUBQ6#vested-shares", "label": "Performance Share Grant Agreement (Georgia Pacific Corp)", "score": 18.0, "published": true}], "hash": "57a6e12b52fab06677cc6ad1c44e3a4f", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZ2ZXN0ZWQtc2hhcmVzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["definitions", "DEFINITIONS"], ["stock-certificates", "Stock Certificates"], ["restrictions-on-transfer", "Restrictions on Transfer"], ["restrictions-on-transferability-of-the-shares", "Restrictions on Transferability of the Shares"], ["transfer-restrictions", "Transfer Restrictions"]], "children": [["vesting-schedule", "Vesting Schedule"], ["vesting-upon-death-or-disability", "Vesting Upon Death or Disability"], ["vesting-upon-a-change-in-control", "Vesting Upon a Change in Control"], ["notices", "Notices"], ["first-replacement-option", "First Replacement Option"]], "title": "Vested Shares", "size": 190, "id": "vested-shares", "related": [["restricted-shares", "Restricted Shares", "Restricted Shares"], ["option-shares", "Option Shares", "Option Shares"], ["restricted-share-units", "Restricted Share Units", "Restricted Share Units"], ["unvested-options", "Unvested Options", "Unvested Options"], ["forfeiture-of-restricted-shares", "Forfeiture of Restricted Shares", "Forfeiture of Restricted Shares"]], "related_snippets": [], "updated": "2026-04-02T05:40:27+00:00", "also_ask": ["What are the most negotiable terms in a vested shares clause from both company and employee perspectives?", "Which drafting elements are essential to prevent ambiguity or future disputes over vesting schedules?", "What are the most common legal pitfalls or fatal flaws that could render a vested shares clause unenforceable?", "How do vested shares provisions differ across jurisdictions or under different equity compensation plans?", "What evidence or documentation is most persuasive in court to prove the enforceability of a vested shares clause?"], "drafting_tip": "Specify vesting schedule and conditions to ensure clarity; define acceleration events to address change-of-control scenarios; state forfeiture terms to prevent disputes over unvested shares.", "explanation": "The Vested Shares clause defines the portion of shares that an individual has earned the right to keep, typically after meeting certain conditions such as continued employment or the passage of time. In practice, this clause outlines a vesting schedule, specifying when and how shares become fully owned by the recipient, such as monthly or yearly increments over a set period. Its core function is to incentivize long-term commitment and performance, while protecting the company by ensuring that unvested shares are forfeited if the individual leaves before the vesting period is complete."}, "json": true, "cursor": ""}}