Common use of Vesting of Award Shares Clause in Contracts

Vesting of Award Shares. Recipient shall become vested in the Award Shares at the completion of the term for which the Recipient was elected to the Board that includes the Award Date, conditioned on the Continuous Service of the Recipient from the Award Date through the completion of such Board term (except as provided otherwise in this Section 1.2) (the “Vesting Date”). In the event that the Recipient ceases to be a member of the Board prior to the the Vesting Date, the unvested Award Shares shall automatically be forfeited; provided, that if a Change of Control of the Company occurs while the Recipient is a member of the Board, and the Award Shares are not assumed in connection with the Change of Control, 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 Committee may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected shown below, subject (except as provided otherwise in this Section 1.2) to the Board that includes the Award Date, conditioned on the Continuous Service of the Recipient from the Award Date of the Award Shares through the completion of such Board term (except as provided otherwise in this Section 1.2) (the “specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date”). In the event that the Recipient ceases to be a member : 33.33% First anniversary of the Board Award Date 33.33% Second anniversary of the Award Date 33.33% Third anniversary of the Award Date If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon the cessation of the Recipient’s Continuous Service prior to the the Vesting Date, the unvested Award Shares shall automatically be forfeited; provided, that if (i) a Change of in Control of the Company occurs while the Recipient is a member of the Board, performing Continuous Service and the Award Shares are not assumed assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in connection with a then current employment agreement or offer letter), or (iii) the Change Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of ControlContinuous Service, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of ControlContinuous Service, as applicable, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, the Committee Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected to the Board that includes the Award Date, conditioned on shown below based upon the Continuous Service of the Recipient from the Award Date through of the completion 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 such Board term (except as provided otherwise vested Shares would result in this Section 1.2) (a fraction, any fraction will be rounded to zero. However, notwithstanding the “Vesting Date”). In foregoing, in the event that the Recipient ceases to be a member 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 Board prior 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 Vesting Datedate of such cessation of Continuous Service, become fully (100%) vested in the unvested Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if a Change of Control of the Company occurs while the Recipient is a member of the Board, and the Award Shares are not assumed in connection performing Continuous Service with the Change of ControlCompany, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the 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.” Xxxxxx Validus Mission Critical REIT II, Inc. Restricted Stock Agreement Award Shares. Notwithstanding the foregoing, the Committee Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected to the Board that includes the Award Date, conditioned on shown below based upon the Continuous Service of the Recipient from the Award Date through of the completion 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 such Board term (except as provided otherwise vested Shares would result in this Section 1.2) (a fraction, any fraction will be rounded to zero. However, notwithstanding the “Vesting Date”). In foregoing, in the event that the Recipient ceases to be a member 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 Board prior 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 Vesting Datedate of such cessation of Continuous Service, become fully (100%) vested in the unvested Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if a Change of Control of the Company occurs while the Recipient is a member of the Board, and the Award Shares are not assumed in connection performing Continuous Service with the Change of ControlCompany, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the 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.” NexPoint Hospitality Trust, Inc. Restricted Stock Award Agreement Award Shares. Notwithstanding the foregoing, the Committee Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected shown below, subject (except as provided otherwise in this Section 1.2) to the Board that includes the Award Date, conditioned on the Continuous Service of the Recipient from the Award Date of the Award Shares through the completion of such Board term (except as provided otherwise in this Section 1.2) (the “specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date”): 25% 25% 25% 25% 1st anniversary of Award Date 2nd anniversary of Award Date 3rd anniversary of Award Date 4th anniversary of Award Date If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. In Except as otherwise provided in the event that Recipient’s employment agreement or offer letter or any severance plan in which the Recipient ceases to be is a member participant at the time of termination, upon the cessation of the Board Recipient’s Continuous Service prior to the the Vesting Date, the unvested Award Shares shall automatically be forfeited; provided, that if a Change of Control of the Company occurs while the Recipient is a member of performing Continuous Service with the Board, Company and the Award Shares are not assumed in connection with the Change of Control, 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 Committee may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board terminates employment due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected shown below, subject (except as provided otherwise in this Section 1.2) to the Board that includes the Award Date, conditioned on the Continuous Service of the Recipient from the Award Date of the Award Shares through the completion of such Board term (except as provided otherwise in this Section 1.2) (the “specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date”): 25% 25% 25% 25% 1st anniversary of Award Date 2nd anniversary of Award Date 3rd anniversary of Award Date 4th anniversary of Award Date If the above calculation of vested Shares would result in a fraction, any fraction will be rounded to zero. In Except as otherwise provided in the event that Recipient’s employment agreement or offer letter or any severance plan in which the Recipient ceases to be is a member participant at the time of termination, upon the cessation of the Board Recipient’s Continuous Service prior to the the Vesting Date, the unvested Award Shares shall automatically be forfeited; provided, that if a Change of Control of the Company occurs while the Recipient is a member of performing Continuous Service with the Board, Company and the Award Shares are not assumed in connection with the Change of Control, 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 Committee Company’s Chief Executive Officer may, in its his or her sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board terminates employment due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected shown below, subject (except as provided otherwise in this Section 1.2) to the Board that includes the Award Date, conditioned on the Continuous Service of the Recipient from the Award Date of the Award Shares through the completion of such Board term (except as provided otherwise in this Section 1.2) (the “specified vesting date: Vesting Schedule: Percentage Vested: Vesting Date”). In the event that the Recipient ceases to be a member : 50% Second anniversary of the Board Closing 50% Third anniversary of the Closing If the above calculation of vested Award Shares would result in a fraction, any fraction will be rounded to zero. Upon the cessation of the Recipient’s Continuous Service prior to the the Vesting Date, the unvested Award Shares shall automatically be forfeited; provided, that if (i) a Change of in Control of the Company occurs while the Recipient is a member of the Board, performing Continuous Service and the Award Shares are not assumed assumed, (ii) the Recipient ceases Continuous Service by reason of death or the Company terminates the Recipient’s Continuous Service due to the Recipient’s Disability (as that term is defined in connection with a then current employment agreement or offer letter), or (iii) the Change Recipient’s employment agreement or offer letter provides for accelerated vesting upon such cessation of ControlContinuous Service, then the Recipient shall nonetheless immediately, as of the date of such Change in Control or cessation of ControlContinuous Service, as applicable, become fully (100%) vested in the Award Shares. Notwithstanding the foregoing, the Committee Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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. Recipient shall become vested in a percentage of the Award Shares at the completion of the term for which the Recipient was elected to the Board that includes the Award Date, conditioned on shown below based upon the Continuous Service of the Recipient from the Award Date through of the completion 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 such Board term (except as provided otherwise vested Shares would result in this Section 1.2) (a fraction, any fraction will be rounded to zero. However, notwithstanding the “Vesting Date”). In foregoing, in the event that the Recipient ceases to be a member 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 Board prior 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 Vesting Datedate of such cessation of Continuous Service, become fully (100%) vested in the unvested Award Shares shall automatically be forfeited; providedShares. Furthermore, notwithstanding the foregoing, in the event that if a Change of Control of the Company occurs while the Recipient is a member of the Board, and the Award Shares are not assumed in connection performing Continuous Service with the Change of ControlCompany, then the Recipient shall nonetheless immediately, as of the date of such Change of Control, become fully (100%) vested in the 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.” NexPoint Multifamily Realty Trust, Inc. Restricted Stock Award Agreement Award Shares. Notwithstanding the foregoing, the Committee Board may, in its sole discretion, accelerate the vesting of the Award Shares in whole or in part. In addition, the Award Shares shall become fully (100%) vested in the event the Recipient ceases to be a member of the Board due to death or Disability. 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.”