Vesting of the Restricted Shares. Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: 1st Anniversary Date 25% 2nd Anniversary Date 25% 3rd Anniversary Date 25% 4th Anniversary Date 25%
Vesting of the Restricted Shares. The Restricted Shares granted pursuant to this Agreement shall vest and all restrictions shall lapse thereon as follows:
Vesting of the Restricted Shares. (a) Except as otherwise provided in Section 2(b) below, the Restricted Shares shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice (as defined in paragraph 2(c) below) by the Stockholder, (iii) the Stockholder has not become permanently disabled (as described in Section 3(a)(iii) below), and (iv) the Stockholder has not died: Anniversary Date Percentage of of this Agreement Restricted Stock Vested ----------------- ----------------------- First 25% Second 25% Third 25% Fourth 25%
Vesting of the Restricted Shares. (a) Except as otherwise provided in Section 2(b) below, the Restricted Shares held by each Stockholder shall become vested in accordance with the following schedule, if, as of each such date, (i) the Management Services Agreement has not been terminated, (ii) there has not been a Cessation of Active Practice by such Stockholder (as defined in Section 2(c) below), (iii) such Stockholder has not become permanently disabled (as described in Section 3(a)(iii) below), and (iv) such Stockholder has not died: Anniversary Date Percentage of of this Agreement Restricted Shares Vested ----------------- ------------------------ First 25% Second 25% Third 25% Fourth 25% For purposes of this Agreement, "Anniversary Date of this Agreement" means September 1 of each year after 1997. Restricted Shares which have become vested are referred to herein as "Vested Shares" and all other Restricted Shares are referred to herein as "Unvested Shares."
(b) Notwithstanding the foregoing, in the event of the death of such Stockholder, in addition to any shares that have vested in accordance with Section 2(a) above, the number of Unvested Shares, if any, that would have become Vested Shares during the 12-month period immediately following the date of death had such death not occurred shall be deemed Vested Shares as of the date of death.
(c) For purposes of this Agreement, "Cessation of Active Practice" means a physician Stockholder's resignation from or termination of employment with the Medical Group (other than by reason of death or permanent disability).
Vesting of the Restricted Shares. (a) Subject to the Participant’s continued service with the Company, the Restricted Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Restricted Shares, after two years from the Grant Date as to two thirds of the Restricted Shares and after three years from the Grant Date as to 100% of the Restricted Shares.
(b) If the Participant’s service with the Company terminates or is terminated due to (i) the Participant’s death; (ii) the Participant becoming Disabled (as defined in the Participant’s employment agreement); (iii) a Without Cause Termination (as defined in the Participant’s employment agreement); or (iv) a Constructive Discharge (as defined in the Participant’s employment agreement), the Restricted Shares will become immediately and fully vested. If the Participant’s service with the Company terminates or is terminated for any reason other than as set forth in the preceding sentence, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration.
(c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested, subject to the terms of the Plan.
Vesting of the Restricted Shares. The Restricted Shares shall vest and become non-forfeitable in accordance with Schedule I attached hereto.
Vesting of the Restricted Shares. (a) Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: Anniversary Date Shares Vesting Earlier of the 1st Anniversary Date or the Date of the Annual Meeting for the Following Year 100% of Shares Granted
Vesting of the Restricted Shares. Subject to the terms of this Agreement, the Restricted Shares shall vest in accordance with the following schedule: March 31, 2017 100%
(a) Termination Due to Death, Disability, End of Term, By Company for Cause, or By Executive Other Than for Good Reason. If Executive’s employment is terminated pursuant to Section 3.1.1 (death), Section 3.1.2 (disability), Section 3.1.3 (the end of the Initial Term if either Party has timely delivered a Non-Renewal Notice as provided in Section 1.1 or the end of any Automatic Renewal Term pursuant to which either Party has timely delivered a Non-Renewal Notice as provided in Section 1.1), Section 3.1.4 (without Good Reason by the Executive), or Section 3.1.5 (by the Company for Cause) of the Employment Agreement, the vesting of the Restricted Shares shall, on the date of such termination, cease and any unvested Restricted Shares shall be forfeited by Executive and revert to the Company.
Vesting of the Restricted Shares. (a) The Restricted Shares shall vest based on the achievement of the financial performance goals during fiscal year 2009 as set forth on Exhibit A; provided, however, that if the number of Restricted Shares would result in the issuance of a fraction of a share, no fractional share shall be issued and instead the number of Restricted Shares shall be increased or decreased to the next whole number. The determination by the Committee with respect to the financial performance levels achieved by the Company during fiscal year 2009 and the number of Restricted Shares that vests shall be made on a date not later than July 31, 2009 (the “Performance Measurement Date”). Any Restricted Shares that fail to meet the financial performance goals set forth on Exhibit A shall be forfeited. The Restricted Shares that have vested based on the achievement of the financial performance goals are herein referred to as the “Performance Vested Shares.” So long as Participant continues to be employed by the Company, the Performance Vested Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Performance Vested Shares, after two years from the Grant Date as to two thirds of the Performance Vested and after three years from the Grant Date as to 100% of the Performance Vested Shares; provided, however, that any fractional Performance Vested Shares shall not vest, or be delivered, until the final vesting event.
(b) If the Participant’s service with the Company terminates or is terminated due to (i) the Participant’s death; (ii) the Participant becoming Disabled (as defined in the Participant’s employment agreement); (iii) a Without Cause Termination (as defined in the Participant’s employment agreement); or (iv) a Constructive Discharge (as defined in the Participant’s employment agreement), the Performance Vested Shares will become immediately and fully vested; provided, however, that if such termination is prior to the Performance Measurement Date, then all Restricted Shares will become immediately and fully vested. If the Participant’s service with the Company terminates or is terminated for any reason other than as set forth in the preceding sentence, the Restricted Shares shall, to the extent not then vested and not previously forfeited, be forfeited by the Participant without consideration.
(c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Performance Vested Shar...
Vesting of the Restricted Shares. (a) Subject to the Participant’s continued service with the Company, the Restricted Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Restricted Shares, after two years from the Grant Date as to two thirds of the Restricted Shares and after three years from the Grant Date as to 100% of the Restricted Shares.
(b) If the Participant’s service with the Company terminates or is terminated for any reason, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration.
(c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested, subject to the terms of the Plan.
