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Common use of Vesting of SARs Clause in Contracts

Vesting of SARs. The SARs shall become exercisable as follows: (a) one-third of the SARs shall become exercisable on the first anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant through such date; (b) an additional one-third of the SARs shall become exercisable on the second anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant through such date; (c) the remaining one-third of the SARs shall become exercisable on the third anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant through such date;

Appears in 3 contracts

Samples: Stock Appreciation Rights Agreement (Lancaster Colony Corp), Stock Appreciation Rights Agreement (Lancaster Colony Corp), Stock Appreciation Rights Agreement (Lancaster Colony Corp)

Vesting of SARs. The SARs shall become exercisable as follows: (a) one-third of the SARs shall become exercisable on the first anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant a Service Provider through such date; (b) an additional one-third of the SARs shall become exercisable on the second anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant a Service Provider through such date; (c) the remaining one-third of the SARs shall become exercisable on the third anniversary of the Grant Date if the Grantee shall have retained Continuous Status as an Employee or Consultant a Service Provider through such date;

Appears in 2 contracts

Samples: Stock Appreciation Rights Agreement (Lancaster Colony Corp), Stock Appreciation Rights Agreement (Lancaster Colony Corp)