Vesting of Common Stock. The shares of the Restricted Stock shall vest 25% on June 18, 1999, 25% on June 23, 2000, 25% on June 22, 2001 and 25% on June 21, 2002. Upon termination of a Participant's employment (with or without cause, voluntary, involuntary or for any reason whatsoever except as provided in Sections 3(c) and 3(d)), all Restricted Stock for which the conditions of the applicable provisions of this paragraph (a) have not been satisfied as of the date of such termination of employment shall be forfeited.
Vesting of Common Stock. (a) The Executive Securities shall be subject to vesting in the manner specified in this Section 2.
Vesting of Common Stock. (a) The Shares will become nonforfeitable upon the occurrence of the following: Amount Nonforfeitable Date Nonforfeitable --------------------- -------------------
Vesting of Common Stock. On the Closing Date, 25% of shares of Common Stock issued to Dealer pursuant to the terms of this Agreement will be Vested Shares and the remaining 75% will be Unvested Shares. On each anniversary of the Closing Date, assuming that no Default on the part of Dealer has occurred, 25% of the shares of Common Stock issued to Dealer pursuant to the terms of this Agreement will become Vested Shares. The following table sets forth for the Closing 2 Date and each of the three anniversaries of the Closing Date, the cumulative percentage of such shares that will be Vested Shares if no Default has occurred prior to that anniversary : Anniversary Percent Vested ----------- -------------- Closing Date 25% First 50% Second 75% Third 100%
Vesting of Common Stock. As noted herein, Shares of Common Stock may be issued for Performance Stock Units upon satisfaction of Performance Criteria as noted herein. Set forth in this Paragraph 4 are the provisions governing the vesting of Issued Common Stock and provisions governing the forfeiture or vesting of Issued Common Stock in the event of the Employee’s employment with the CBL Management Company is terminated prior to the full vesting of the Issued Common Stock. As used in this Agreement, the term “vest” or “vesting” shall mean the immediate, non-forfeitable, fixed right of present or future enjoyment of the Issued Common Stock. Such Issued Common Stock, subject to the terms, conditions and limitations contained herein (including but not limited to the provisions of Paragraph 4 below), shall vest in full on the first (1st) anniversary of the Issuance Date (the “Vesting Date”); provided that the Employee has remained in continuous employment with the CBL Management Company from the Award Date through the Vesting Date.
Vesting of Common Stock. As noted herein, Shares of Common Stock may be issued for Performance Stock Units upon satisfaction of Performance Criteria as noted herein. Set forth in this Paragraph 4 are the provisions governing the vesting of Issued Common Stock and provisions governing the forfeiture or vesting of Issued Common Stock in the event of the Employee’s employment with the CBL Management Company is terminated prior to the full vesting of the Issued Common Stock. As used in this Agreement, the term “vest” or “vesting” shall mean the immediate, non-forfeitable, fixed right of present or future enjoyment of the Issued Common Stock. Such Issued Common Stock, subject to the terms, conditions and limitations contained herein (including but not limited to the provisions of Paragraph 4 below and the Annual Grant Limitation set forth in Paragraph 18 below), shall vest as follows: sixty percent (60%) of such Issued Common Stock shall vest on the Certification Date; an additional twenty percent (20%) of such Issued Common Stock shall vest on the fourth (4th) anniversary of the Award Date, and the remaining Issued Common Stock shall vest on the fifth (5th) anniversary of the Award Date (each a “Vesting Date”); provided that the Employee has remained in continuous employment with the CBL Management Company from the Award Date through the applicable Vesting Date. Notwithstanding any provision herein to the contrary, on a “Change of Control”, the portion of the Issued Common Stock that is non-vested on the date of such event (including any Issued Common Stock that is issued on such date pursuant to Paragraph 3(c) above, and including any cash that is required to be paid to the Employee in lieu of the delivery of a portion of the Issued Common Stock due to the operation of the Annual Grant Limitation, as detailed in Paragraph 18 below) shall immediately, on the date of such event, thereupon vest in the Employee.
Vesting of Common Stock a) The Common Stock covered by this Agreement shall become nonforfeitable, subject to the Grantee's remaining in the continuous employ of the Company or a subsidiary during such period, at the rate of 25% of the shares of Common Stock covered hereby on each of the first, second, third and fourth anniversaries of the date of this Agreement, such that as of the fourth anniversary of the date of this Agreement all of the Common Stock covered hereby shall be nonforfeitable.
Vesting of Common Stock. Pursuant to the terms of that certain Restricted Stock Agreement, dated December 12, 2007, as amended (the “Restricted Stock Agreement”), upon your resignation from the Company on the Separation Date, 57,510 shares of your restricted common stock of the Company (the “Common Stock”) granted pursuant to the Restricted Stock Agreement shall vest (the “Vested Common Stock”). The remaining 22,684 shares of your restricted Common Stock shall remain unvested and shall be cancelled effective upon the Separation Date (the “Unvested Common Stock”).
Vesting of Common Stock. 3.1 Except as otherwise provided in Section 3.2, (a) twenty-five percent (25%) of the Shares shall be come Vested Shares on the first anniversary of the Date of Commencement (the “First Anniversary”), and (b) after the First Anniversary, the remaining seventy-five percent (75%) of the Shares shall become Vested Shares ratably over a three (3) year period at the rate of one-twelfth (1/12) of the amount thereof at the end of each quarter anniversary of the First Anniversary, as the result of which the Shares shall become fully (100%) Vested Shares upon the fourth (4th) anniversary of the Date of Commencement. Notwithstanding the foregoing, in the event the Equity Participant’s employment is terminated without Cause or the Equity Participant voluntarily terminates for Good Reason in relation to the sale or other disposition of all or substantially all of the Company’s assets or a change in ownership in a single transaction or series of related transactions of fifty percent (50%) or more of the Company’s stock, the Equity Participant’s shares shall vest in full (if not sooner vested).
Vesting of Common Stock. The Parties agree that for purposes of determining the number of shares of the Company's common stock which Employee is entitled to purchase from the Company, Employee will be entitled to continue vesting of stock until May 14, 1998. The exercise of any stock options shall continue to be subject to the terms and conditions of the Company's Stock Option Plan and the applicable Stock Option Agreement between Employee and the Company.
