Common use of Vesting of Equity Awards Clause in Contracts

Vesting of Equity Awards. All Option Shares and RSUs (and any other equity based grants or cash in lieu of grants) granted to the Executive, to the extent not otherwise vested, shall be vested (performance-based grants shall vest at target levels) as of the Date of Separation from Service in the event of termination of the Executive without Cause or by the Executive for Good Reason, death or Disability (the “Accelerated Vesting”).

Appears in 3 contracts

Samples: Employment Agreement (Overseas Shipholding Group Inc), Employment Agreement (Overseas Shipholding Group Inc), Employment Agreement (Overseas Shipholding Group Inc)

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Vesting of Equity Awards. All Option Shares and RSUs (and any other equity based grants or cash in lieu of grants) granted to the Executive, to the extent not otherwise vested, shall be vested (performance-based grants shall vest at target levels) as of the Date of Separation from Service in the event of termination of the Executive without Cause or by the Executive for Good Reason, death or Disability (the “Accelerated Vesting”).

Appears in 1 contract

Samples: Employment Agreement (Overseas Shipholding Group Inc)

Vesting of Equity Awards. All Notwithstanding anything to the contrary contained in any relevant equity grant agreement, all Option Shares and RSUs (and any other equity based grants or cash in lieu of grants) granted to the Executive, to the extent not otherwise vested, shall be vested (performance-based grants shall vest at target levels) as of the Date of Separation from Service in the event of termination of the Executive without Cause or by the Executive for Good Reason, death or Disability (the “Accelerated Vesting”).

Appears in 1 contract

Samples: Employment Agreement (Overseas Shipholding Group Inc)

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Vesting of Equity Awards. All Notwithstanding anything to the contrary contact in any relevant equity grand agreement, all Option Shares and RSUs (and any other equity based grants or cash in lieu of grants) granted to the Executive, to the extent not otherwise vested, shall be vested (performance-based grants shall vest at target levels) as of the Date of Separation from Service in the event of termination of the Executive without Cause or by the Executive for Good Reason, death or Disability (the “Accelerated Vesting”).

Appears in 1 contract

Samples: Employment Agreement (Overseas Shipholding Group Inc)

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