Vesting of Founder Shares Sample Clauses

Vesting of Founder Shares. The Founder Shares held directly or indirectly by each Founder, shall vest as follows: 25% to vest one year from the date of this agreement and the remaining 75% to vest in equal monthly installments over the following 36 months (one forty-eight per month). Those Shares that are vested is defined as “Vested Founder Shares”, the Shares that are not vested is defined as “Unvested Founder Shares”. The purchase right of the Shareholders specified in this Clause shall apply only to unvested Founder Shares.
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Vesting of Founder Shares. Subject to Clause 5 and Clause 6 above, the Shares held by each Founder (“Founder Shares”) as on the Execution Date shall be deemed to be released to the respective Founders in accordance with the details provided in Schedule 11 as long as the Founder is in continuous employment with the Company. For the purpose of this Agreement, in respect of each Founder, all Founder Shares which are released from the Vesting Period shall be referred to as “Released Shares”, and all Founder Shares which are not released from the Vesting Period shall be referred to as “Unreleased Shares”. Each Founder shall have voting rights in respect of all Founder Shares held by him in accordance with the terms of this Agreement, whether or not the Shares are Released Shares. Upon the termination of a Founder’s employment with the Company for Cause, the Released and Unreleased Shares of such Founder shall be Transferred to other shareholders in proportionate to their respective shareholding in the Company at the face value or at the lowest possible value permissible under Law at the time of such termination; or shall be treated in any other such manner, as determined by the Board, without the participation of the concerned Founder. Upon the resignation or termination of a Founder’s employment with the Company for a reason other than Cause, the Released Shares held by such Founder may be retained by him, and the Unreleased Shares held by such Founder shall be (i) Transferred to other shareholders in proportionate to their respective shareholding in the Company; and/or (ii) treated in any other such manner, as determined by the Board, without the participation of the concerned Founder; in each case at the face value or at the lowest possible value permissible under Law at the time of such termination under applicable Law. In cases of termination of Founder’s employment both with Cause or without Cause, the Transfer of Released Shares and/or Unreleased Shares, as the case may be in accordance with Clause 7.4 and Clause 7.5 above, to other Shareholders must be given effect to within 30 (thirty) days from the date of such termination of employment. In the event of an acquisition or a merger, the vesting of Unreleased Shares may be accelerated by the Board immediately prior to such event.
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Vesting of Founder Shares. (1) 33-1/3% of the Founder Shares shall vest at such time as a Stock Price Level equal to $12.00 (the “First Vesting Price”) is achieved on or before the date that is five years after the Closing Date.
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Vesting of Founder Shares. (i) If, at any time during the five (5)-year period immediately following the Closing, the VWAP of the Parent Shares is greater than or equal to $15.00 for any 20 Trading Days within a period of 30 consecutive Trading Days (the date when the foregoing is first satisfied, the “First Vesting Achievement Date”), then 25% of the Specified Founder Shares shall immediately vest.
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Vesting of Founder Shares. One hundred percent (100%) of the Founder Shares will initially be subject to the Unvested Founder Share Forfeiture. The Founder Shares will be released from the Unvested Founder Share Forfeiture at a rate of 1/36th of the Stock per month, effective as of the date hereof, subject to Founder’s continuous service to the Company as a director or consultant.
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Vesting of Founder Shares. (i) If, at any time during the 5-year period immediately following the Closing, the VWAP of Acquiror Class A Common Stock is greater than or equal to $12.00 for any 20 Trading Days within a period of 30 consecutive Trading Days (the date when the foregoing is first satisfied, the “Earnout Achievement Date”), then all of the unvested Founder Shares shall immediately vest.
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Vesting of Founder Shares 
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Related to Vesting of Founder Shares

  • Vesting of Shares The shares acquired hereunder shall vest in accordance with the provisions of this Paragraph 7 and applicable provisions of the Plan, as follows:

  • Vesting of Units For purposes of this Agreement, “Vesting Date” means any date, including the Scheduled Vesting Dates specified in the Vesting Schedule on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 4.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Vesting of Restricted Share Units The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the date(s) specified in the following schedule (the “Vesting Date”) so long as the Grantee has served continuously as an employee of the Company or a Subsidiary on such dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1 shall lapse only with respect to the number of Restricted Share Units specified as vested on such date. Incremental Number of Restricted Share Units Vested Vesting Date _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ In determining the number of vested Restricted Share Units at the time of any vesting, the number of Ordinary Shares shall be rounded down to the nearest whole ADS or the nearest increment of 13 Ordinary Shares. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2.

  • Vesting of Options The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will also vest and become exercisable:

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains an employee of the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date _____________ (___%) ____________ _____________ (___%) ____________ _____________ (___%) ____________ The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

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