Vesting and Delivery Date. The Restricted Stock Units shall vest as follows provided the Grantee remains employed by the Company on each such date:
(a) Forty percent (40%) of the Restricted Stock Units (rounded up to the nearest whole share) shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $______ but less than $______, with such number of Restricted Stock Units vesting in three equal annual installments on February 15, 2015, February 15, 2016 and February 15, 2017, with the first two installments rounded up or down to the nearest whole share and the third installment including the remaining shares; OR
(b) Eighty percent (80%) of the Restricted Stock Units (rounded up to the nearest whole share) shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $_________ but less than $_______, with such number of Restricted Stock Units vesting in three equal annual installments on February 15, 2015, February 15, 2016 and February 15, 2017, with the first two installments rounded up or down to the nearest whole share and the third installment including the remaining shares; OR
(c) All of the Restricted Stock Units shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $______, with such number of Restricted Stock Units vesting in three equal annual installments on February 15, 2015, February 15, 2016 and February 15, 2017, with the first two installments rounded up or down to the nearest whole share and the third installment including the remaining shares. As used in this Section 5, the term “Operating Income” shall mean the Company’s income from operations as reported in the Company’s audited financial statements prepared in accordance with generally accepted accounting principles excluding the impact of any generally accepted accounting principle changes implemented after the date hereof. Notwithstanding the foregoing, (i) in the event that the Grantee’s employment is terminated on account of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination and (ii) in the event of a Change in Control, all unvested Restricted Stock Units not previously forfeited shall vest on such Change in Control. On the first business day after each vesting date, the Company shall deliver to Grantee the shares of stock to which the Restricted Stock Units rel...
Vesting and Delivery Date. The Restricted Stock Units shall vest as follows provided the Grantee remains employed by the Company on each such vesting date:
Vesting and Delivery Date. The Restricted Stock Units shall vest in ____ equal annual installments on each ____ beginning ____, ____; provided that (i) the Grantee remains continuously employed by the Company through each such applicable vesting date, and (ii) the Grantee has duly executed this Agreement prior to the first such vesting date. Notwithstanding the foregoing, in the event that the Grantee’s employment is terminated on account of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination. On the first business day after each vesting date, the Company shall deliver to Grantee the shares of stock to which the Restricted Stock Units relate, in each case following and subject to the Approval.
Vesting and Delivery Date. (a) The Restricted Stock Units shall vest in ____ equal annual installments on each _______________ beginning ________________, _________; provided that (i) the Grantee remains continuously employed by the Company through each such applicable vesting date, and (ii) the Grantee has duly executed this Agreement prior to the first such vesting date.
(b) Notwithstanding Section 5(a), in the event that the Grantee’s employment is terminated upon the occurrence of an event specified in sub-clauses (i) or (ii) below, the Restricted Stock Units shall vest on the dates specified below:
i. In the event of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination; and
ii. In the event of the Grantee’s Retirement, all of the Restricted Stock Units shall immediately vest on such date of termination; provided, however, that if the Company determines that the Grantee is a “specified employee” within the meaning of Section 409A, then to the extent any payment under this Agreement on account of the Grantee’s separation from service would be considered nonqualified deferred compensation under Section 409A, such payment shall be delayed until the earlier of (i) the date that is six months and one day after the date of such separation from employment or (ii) the date of Grantee’s death.
(c) As used in this Section 5, the following terms have the following meanings:
Vesting and Delivery Date. (a) Except as otherwise provided by Section 5(b), all of the Restricted Stock Units shall be earned and eligible to vest if the Operating Income for the Company’s 2018 fiscal year is equal to or greater than $____________ million (the “Performance Condition”), with such number of Restricted Stock Units vesting in four equal annual installments on February 15, 2019 (or if later, the date of the Compensation Committee Certification), February 15, 2020, February 15, 2021 and February 15, 2022, with the first three installments rounded up or down to the nearest whole share and the fourth installment including the remaining shares, provided, however, that (i) the Grantee remains employed by the Company on each such vesting date, and (ii) the Grantee has duly executed this Agreement prior to the first such vesting date. If the Performance Condition is not satisfied, all of the Restricted Stock Units shall be forfeited.
(b) Notwithstanding the foregoing, in the event that the Grantee’s employment is terminated upon the occurrence of an event specified in subclauses i. through iv. below, the Restricted Stock Units shall vest on the dates specified below:
i. In the event of the Grantee’s death or Disability occurring prior to the Compensation Committee Certification, the Performance Condition shall be automatically deemed satisfied and all of the Restricted Stock Units shall immediately vest on such date of termination;
ii. In the event of the Grantee’s death or Disability occurring following the Compensation Committee Certification, all unvested Restricted Stock Units not otherwise forfeited shall immediately vest on such date of termination;
iii. In the event of the Grantee’s Retirement occurring prior to the Compensation Committee Certification, all of the Restricted Stock Units shall expire and immediately be forfeited as of such date of termination; and
iv. In the event of the Grantee’s Retirement, if Grantee’s date of Retirement is on or after February 15, 2020, all unvested Restricted Stock Units not otherwise forfeited shall immediately vest on such date of termination; provided, however, that if the Company determines that the Grantee is a “specified employee” within the meaning of Section 409A, then to the extent any payment under this Agreement on account of the Grantee’s separation from service would be considered nonqualified deferred compensation under Section 409A, such payment shall be delayed until the earlier of (i) the date that is six months and...
Vesting and Delivery Date. The Restricted Stock Units shall vest in four equal annual installments on each beginning , ; provided that the Grantee remains continuously employed by the Company through each such applicable vesting date. Notwithstanding the foregoing, (i) in the event that the Grantee’s employment is terminated on account of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination and (ii) in the event of a Change in Control, all unvested Restricted Stock Units not previously forfeited shall vest on such Change in Control. On the first business day after each vesting date, the Company shall deliver to Grantee the shares of stock to which the Restricted Stock Units relate, provided, however, that if the shares of stock would otherwise vest during a period in which Grantee is (i) subject to a lock-up agreement restricting Grantee’s ability to sell the shares in the open market or (ii) restricted from selling the shares in the open market because Grantee is not then eligible to sell under the Company’s xxxxxxx xxxxxxx or similar plan as then in effect (whether because a trading window is not open or Grantee is otherwise restricted from trading), delivery of the shares will be delayed until the first date on which Grantee is no longer prohibited from selling the shares due to a lock-up agreement or xxxxxxx xxxxxxx or similar plan restriction.
Vesting and Delivery Date. (a) Delivery – General. The Company shall, on or within 30 days following the Vesting Date, deliver (or cause delivery to be made) to the Participant the Shares underlying the RSUs that vest and become Vested RSUs on the Vesting Date. The general vesting and delivery terms with respect to the RSUs are set forth in the table below.
Vesting and Delivery Date. (a) The Restricted Stock Units shall vest in _____ equal annual installments on each February 15th beginning February 15, 20__; provided that (i) the Grantee remains continuously employed by the Company through each such applicable vesting date, and (ii) the Grantee has duly executed this Agreement prior to the first such vesting date.
(b) Notwithstanding Section 5(a), in the event that the Grantee’s employment is terminated upon the occurrence of an event specified in sub-clauses (i) or (ii) below, the Restricted Stock Units shall vest on the dates specified below:
(i) In the event of the Grantee’s death or Disability at any time, all unvested Restricted Stock Units not previously forfeited shall immediately vest on such date of termination; and
Vesting and Delivery Date. The Restricted Stock Units shall vest as follows provided the Grantee remains employed by the Company on each such date:
(a) One-third of the Restricted Stock Units shall vest if the combined Operating Income for the Company for 2012 and 2013 is equal to or greater than $ million but less than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2014 and 50% of such number of Restricted Stock Units vesting on February 15, 2015; OR
(b) Two-thirds of the Restricted Stock Units shall vest if the combined Operating Income for the Company for 2012 and 2013 is equal to or greater than $ million but less than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2014 and 50% of such number of Restricted Stock Units vesting on February 15, 2015; OR
(c) All of the Restricted Stock Units shall vest if the combined Operating Income for the Company for 2012 and 2013 is equal to or greater than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2014 and 50% of such number of Restricted Stock Units vesting on February 15, 2015.
Vesting and Delivery Date. The Restricted Stock Units shall vest as follows provided the Grantee remains employed by the Company on each such date:
(a) (a) Forty percent (40%) of the Restricted Stock Units (rounded down to the nearest whole share) shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $ million but less than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2015 and 50% of such number of Restricted Stock Units vesting on February 15, 2016; OR
(b) Eighty percent (80%) of the Restricted Stock Units (rounded down to the nearest whole share) shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $ million but less than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2015 and 50% of such number of Restricted Stock Units vesting on February 15, 2016; OR
(c) All of the Restricted Stock Units shall vest if the combined Operating Income for the Company for 2013 and 2014 is equal to or greater than $ million, with 50% of such number of Restricted Stock Units vesting on February 15, 2015 and 50% of such number of Restricted Stock Units vesting on February 15, 2016.
