Vesting of the Stock Sample Clauses

Vesting of the Stock. In the event that Recipient's employment with the Company shall terminate for any reason prior to (1) December 16, 2000, the date on which 33-% of the shares of Stock shall be deemed vested and cease to be Restricted Stock for the purpose of this Section 3(a) ("1st Vesting Date"), (2) December 16, 2001, the date on which 33-% of the shares of Stock issued shall be deemed vested and cease to be Restricted Stock for the purpose of this Section 3(a) ("2nd Vesting Date"), or (3) December 16, 2002, the date on which 33-% of the shares of Stock issued shall be deemed vested and cease to be Restricted Stock for the purpose of this Section 3(a) ("3rd Vesting Date"), the unvested Stock shall be forfeited and transferred to the Company in the amounts and in the manner provided in this Section 3(a) effective as of the date of such termination without further action by Recipient or the Company. In such event, the Company shall thereafter be authorized to take such action as it deems appropriate to retire the unvested Stock through use of the executed stock power and share certificate held by the Company in the escrow established pursuant to Section 4 below. Subject to the foregoing, the Company and Recipient agree that (w) 33-% of the Stock shall be vested and no longer be deemed Restricted Stock as of the 1st Vesting Date (unless the Stock shall have been previously forfeited by Recipient pursuant to this Section 3); (x) 33-% of the Stock shall be vested and no longer be deemed Restricted Stock as of the 2nd Vesting Date (unless the Stock or a portion of the Stock shall have been previously forfeited by Recipient pursuant to this Section 3); (y) 33-% of the Stock shall be vested and no longer be deemed Restricted Stock as of the 3rd Vesting Date (unless the Stock, or a portion of the Stock shall have been previously forfeited by Recipient pursuant to this Section 3); and (z) irrespective of the occurrence of the 1st Vesting Date, the 2nd Vesting Date or the 3rd Vesting Date, 100% of the Stock shall be vested and no longer be deemed Restricted Stock upon the termination of Recipient's employment with the Company as a result of his death, Permanent Disability, Involuntary Termination Without Cause or Constructive Termination.
Sample 1
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Related to Vesting of the Stock

  • Vesting of the Award Except as otherwise provided in Section 3 and Section 5 below, the Restricted Stock Units will vest at such times (the "Vesting Date") and in the percentages set forth below, as long as the Grantee is serving as an employee of the Company on the Vesting Date. Vesting Date Award Percentage of Restricted Stock Units One Year from Grant Date Two Years from Grant Date Three Years from Grant Date 33% 33% 34% The Company shall issue one share of Stock to the Grantee in settlement of each vested Restricted Stock Unit (the "Distributed Shares") at the time the Restricted Stock Unit vests pursuant to any provision of this Agreement. The Distributed Shares shall be represented by a certificate or by a book-entry.

  • 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 the Option Subject to the Participant’s continued service to the Company through the applicable vesting date and the terms of the Plan, the Option shall vest in equal installments on each of the first five (5) anniversaries of the Date of Grant, such that twenty percent (20%) of the Option vests on each such anniversary (each, a “Vesting Date”). At any time, the portion of the Option which has become vested in accordance with the terms hereof shall be called the “Vested Portion.”

  • 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 Option The Option shall be 100% vested upon the date of grant.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.2. Executive may exercise such options in accordance with the terms and conditions of the stock option plan and the agreement pursuant to which such options were granted.

  • 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. 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 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.

  • Voting of Shares Parent shall vote all shares of Company Stock beneficially owned by it or any of its Subsidiaries in favor of adoption of this Agreement at the Company Stockholder Meeting.

  • Listing of Shares The Company hereby agrees to use commercially reasonable best efforts to maintain the listing or quotation of the ADSs, and Ordinary Shares on each Trading Market on which each is currently listed, and concurrently with the Closing, the Company shall apply to list or quote all of the Shares and/or ADSs on such Trading Markets and promptly secure the listing of all of the ADSs and Shares on such Trading Markets. The Company further agrees, if the Company applies to have the Ordinary Shares or ADSs traded on any other Trading Market, it will then include in such application all of the ADSs, Shares, and will take such other action as is necessary to cause all of the ADSs, Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary to continue the listing and trading of its ADSs and Ordinary Shares on a Trading Market and will comply in all material respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Trading Market. The Company agrees to use commercially reasonable efforts to maintain the eligibility of the ADSs for electronic transfer through the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.

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