Vesting of Award Shares. (a) Twenty-five percent (25%) of the Award Shares (rounded to the nearest whole number) automatically will vest in Grantee on each of the first four (4) anniversaries of the Award Date (each such anniversary being referred to in this Agreement as a “Vesting Date”); provided, however, that no Award Shares shall vest in Grantee on a particular Vesting Date unless Grantee has been continuously employed by the Company from the Award Date until such Vesting Date.
Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below, subject (except as provided otherwise in this Section 1.2) to the Continuous Service of the Recipient from the Award Date of the Award Shares through the specified vesting date: ny-1878591
Vesting of Award Shares. Recipient shall become vested in a percentage of the Award Shares shown below based upon the Continuous Service of the Recipient from the Award Date of the Award Shares (as noted hereon): Vesting Schedule Percentage Vested: Continuous Service from Award Date: 0% Less than one (1) year 25% At least one (1) year, but less than two (2) years 50% At least two (2) years, but less than three (3) years 75% At least three (3) years, but less than four (4) years 100% At least four (4) years If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. However, notwithstanding the foregoing, in the event that the Recipient ceases Continuous Service with the Company (1) by reason of death or Disability, (2) after having attained the age of sixty-five (65), (3) because the Recipient’s employment with the Company has been terminated by the Company without Cause, (4) because the Recipient has terminated employment with the Company for Good Reason, or (5) because the term of the Recipient’s written employment agreement with the Company (if any) has come to an end and has not been renewed or extended, then the Recipient shall nonetheless immediately, as of the date of such cessation of Continuous Service, become fully (100%) vested in the Award Shares. Furthermore, notwithstanding the foregoing, in the event that a Change of Control of the Company occurs 1 Unless otherwise indicated, all capitalized terms used in this Agreement are defined in the Plan as of the Award Date or in the "Definitions" section of Exhibit A. Exhibit A is incorporated by reference and is included in the definition of "Agreement." Procaccianti Hotel REIT, Inc. Restricted Stock Agreement while the Recipient is performing Continuous Service with the Company, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, the Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. The Award Shares which have become vested pursuant to the vesting schedule or by virtue of such acceleration are herein referred to as the "Vested Award Shares" and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the "Unvested Award Shares."
Vesting of Award Shares. Except to the extent otherwise expressly provided in any other written agreement between Recipient and the Company executed before the Award Date of this Agreement providing more favorable terms for the Recipient, Recipient shall become vested in the percentage of the
Vesting of Award Shares. (a) For purposes of this Agreement, “
Vesting of Award Shares. The Award Shares will become vested, and the restrictions set forth in Section 3.1 will lapse in accordance with the vesting schedule set forth in the Award Notice unless an event giving rise to forfeiture of the Award Shares earlier occurs or the vesting is accelerated in accordance with this Agreement or the Plan. When a portion of the Award Shares has become vested, Bancorp will deliver to Participant, upon request, one or more share certificates evidencing the vested portion of the Award Shares, free of the legend described in Section 6(b) of the Plan.
Vesting of Award Shares. (a) Subject to Sections 2(b), (c), (d) and (e) below, all of Employee’s right, title and interest in and to the Award Shares is and shall be contingent upon and subject to the continued full time employment of Employee by the Company during the vesting periods (the “Vesting Periods”). At the end of each Vesting Period, and provided that Employee is then a full time employee of the Company, Employee shall be deemed to be fully vested without restriction in all of the Award Shares covered by that Vesting Period. Each Vesting Period begins on the effective date hereof.
Vesting of Award Shares. Director’s right, title and interest in and to the Award Shares is and shall be fully vested without restriction upon the date of grant; provided, however, that transfer of the Award Shares shall be subject to the transfer restrictions (if any) set forth in Section 3.
Vesting of Award Shares. Recipient shall become vested in 25% of the Award Shares on each of the first four anniversaries of the Vesting Start Date, subject to the Recipient’s Continuous Service through each applicable vesting date (except as otherwise provided in Section 3 hereto).
Vesting of Award Shares. Recipient shall become vested in a portion of the Award Shares based upon the terms and conditions of the Employment Agreement. In the event of any ambiguity in this Restricted Stock Award Agreement or in the terms of the Employment Agreement which relate to the Award Shares, the good faith interpretation of the Compensation Committee of the Company's Board of Directors shall in all cases control. If the calculation of vested Shares in accordance with the Employment Agreement would result in a fraction of a share, any such fraction will be rounded to zero. Notwithstanding the foregoing, the Board of Directors may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. The Award Shares which have become vested pursuant to the Employment Agreement or by virtue of such acceleration are herein referred to as the "Vested Award Shares" and all Award Shares which are not Vested Award Shares are sometimes herein referred to as the "Unvested Award Shares."
