Common use of VESTING OF UNITS BASED ON SERVICE REQUIREMENTS Clause in Contracts

VESTING OF UNITS BASED ON SERVICE REQUIREMENTS. The Restricted Stock Unit grants are based on Service requirements and shall vest on the date on which the Company files with the Securities and Exchange Commission its Annual Report on Form 10-K for the Company's fiscal year ending __________ ___, 20___ (“RSU Vesting Date”). Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting of Restricted Stock Units: (a) The death of the Participant; (b) Disability of the Participant; or (c) A Change in Control. Except as otherwise set forth herein, the unvested portion of the Restricted Stock Unit Award shall be entirely forfeited by the Participant in the event that prior to vesting the Participant breaches any terms or conditions of the Plan, the Participant resigns from the Company, the Participant's employment with the Company is terminated for reasons other than death or Disability, or any conditions imposed upon vesting are not met.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Delta Apparel, Inc), Restricted Stock Unit and Performance Unit Award Agreement (Delta Apparel, Inc)

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VESTING OF UNITS BASED ON SERVICE REQUIREMENTS. The Restricted Stock Unit grants are based on Service requirements and shall vest on the date on which the Company files with the Securities and Exchange Commission its Annual Report on Form 10-K for the Company's fiscal year ending __________ ___October 2, 20___ 2021 (“RSU Vesting Date”). Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting of Restricted Stock Units: (a) The death of the Participant; (b) Disability of the Participant; or (c) A Change in Control. Except as otherwise set forth herein, the unvested portion of the Restricted Stock Unit Award shall be entirely forfeited by the Participant in the event that prior to vesting the Participant breaches any terms or conditions of the Plan, the Participant resigns from the Company, the Participant's employment with the Company is terminated for reasons other than death or Disability, or any conditions imposed upon vesting are not met.

Appears in 1 contract

Samples: Restricted Stock Unit and Performance Unit Award Agreement (Delta Apparel, Inc)

VESTING OF UNITS BASED ON SERVICE REQUIREMENTS. The Restricted Stock Unit grants are based on Service requirements and shall vest on the date on which the Company files with the Securities and Exchange Commission its Annual Report on Form 10-K for the Company's fiscal year ending __________ ___September 28, 20___ 2019 (“RSU Vesting Date”). Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting of Restricted Stock Units: (a) The death of the Participant; (b) Disability of the Participant; or (c) A Change in Control. Except as otherwise set forth herein, the unvested portion of the Restricted Stock Unit Award shall be entirely forfeited by the Participant in the event that prior to vesting the Participant breaches any terms or conditions of the Plan, the Participant resigns from the Company, the Participant's employment with the Company is terminated for reasons other than death or Disability, or any conditions imposed upon vesting are not met.

Appears in 1 contract

Samples: Restricted Stock Unit and Performance Unit Award Agreement (Delta Apparel, Inc)

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VESTING OF UNITS BASED ON SERVICE REQUIREMENTS. The Restricted Stock Unit grants are based on Service requirements and shall vest on the date on which the Company files with the Securities and Exchange Commission its Annual Report on Form 10-K for the Company's fiscal year ending _________________ ___, 20__202_ (“RSU Vesting Date”). Notwithstanding the above, occurrence of any of the following events shall cause the immediate vesting of Restricted Stock Units: (a) The death of the Participant; (b) Disability of the Participant; or (c) A Change in Control. Except as otherwise set forth herein, the unvested portion of the Restricted Stock Unit Award shall be entirely forfeited by the Participant in the event that prior to vesting the Participant breaches any terms or conditions of the Plan, the Participant resigns from the Company, the Participant's employment with the Company is terminated for reasons other than death or Disability, or any conditions imposed upon vesting are not met.

Appears in 1 contract

Samples: Restricted Stock Unit and Performance Unit Award Agreement (Delta Apparel, Inc)

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