Vesting Period Sample Clauses
A Vesting Period clause defines the length of time an individual must wait before gaining full ownership of certain rights or assets, typically in the context of employee stock options or equity awards. During this period, the recipient earns ownership incrementally, often on a set schedule such as monthly or annually, and may forfeit unvested portions if they leave the company early. This clause primarily serves to incentivize long-term commitment and performance, while protecting the company from immediate departures after granting valuable benefits.
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Vesting Period. The vesting period of the Restricted Stock (the “Vesting Period”) begins on the Grant Date and continues until such date as is set forth on Schedule A as the date on which the Restricted Stock is fully vested. On the first Annual Vesting Date following the date of this Agreement and each Annual Vesting Date thereafter the number of shares of Restricted Stock equal to the Annual Vesting Amount shall become vested, subject to earlier forfeiture as provided in this Agreement. To the extent that Schedule A provides for amounts or schedules of vesting that conflict with the provisions of this paragraph, the provisions of Schedule A will govern. Except as permitted under Section 10, the shares of Restricted Stock for which the applicable Vesting Period has not expired may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (whether voluntary or involuntary or by judgment, levy, attachment, garnishment or other legal or equitable proceeding). The Employee shall not have the right to receive cash dividends paid on shares of Restricted Stock for which the applicable Vesting Period has not expired. In lieu thereof, the Employee shall have the right to receive from the Company an amount, in cash, equal to the cash dividends payable on shares of Restricted Stock for which the applicable Vesting Period has not expired, provided the Employee is employed by the Company on the payroll date coinciding with or immediately following the date any such cash dividends are paid on the Restricted Shares. The Employee shall have the right to vote the Restricted Stock, regardless of whether the applicable Vesting Period has expired.
Vesting Period. The Vesting Period shall commence on the date of this Agreement and shall end on the dates set forth below as to that percentage of the total shares of Common Stock subject to this Agreement set forth opposite each such date:
Vesting Period. So long as Awardee remains an Awardee Eligible to Vest, the Stock Award shall vest as to 25% of the shares beginning on the first anniversary of the date of grant stated in Section 1 above and another 25% on each subsequent anniversary of the date of grant so that the Stock Award is fully vested on the fourth anniversary of the date of grant.
Vesting Period. The period from the Grant Date to the last vesting date is the “vesting period” (see subsections captioned “--Amendment” pursuant to which the Firm may extend the vesting period and “--No Ownership Rights/Other Limitations” pursuant to which the Firm may place restrictions on delivered shares of Common Stock following a vesting date).
Vesting Period. If the Participant has been continuously employed by the Company or its Subsidiaries or Affiliates, with respect to each incremental vesting period, this Option shall vest and be exercisable . Notwithstanding anything to the contrary set forth herein, in the event of the occurrence of a change in control of the Company (a ‘‘Change in Control’’), the Option shall immediately vest. For purposes of this Agreement, a ‘‘Change in Control’’ shall be deemed to occur if: (i) there shall have occurred a change in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended, as in effect on the date hereof, whether or not the Company is then subject to such reporting requirement, provided, however, that the foregoing event shall not be deemed to be a Change in Control if immediately prior to such transaction the Participant or an entity of which the Participant is an executive officer, director or more than five percent equity holder is, directly or indirectly, one of the new controlling parties; or (ii) the Company has merged or consolidated with, or sold substantially all of its assets to, another company, provided, however, that the foregoing event shall not be deemed to be a Change in Control if immediately prior to such transaction the Participant is an executive officer, director or more than five percent equity holder of the other party to the transaction or of any entity directly or indirectly controlling that party to the transaction. Provided, further, that if in the event of a Change in Control, the successor company assumes or substitutes options for its shares for this Option then the vesting of this Option shall not be accelerated. Notwithstanding the foregoing, in the event of a termination of the Participant’s employment or directorship in such successor company within twenty-four (24) months following such Change in Control, the Option granted hereunder or the substitute option held by such Participant at the time of the Change in Control shall vest as of the day preceding the date of termination. Notwithstanding anything to the contrary set forth herein, in the event of the termination of the Participant’s employment for Cause, the Option and all rights granted hereunder shall be forfeited and deemed canceled and no longer exercisable on the day of such termination of employment. For the purposes of their Agreemen...
Vesting Period. Subject to the Participant’s continued employment with the Company, or except as otherwise provided below, the Restricted Share Unit Award shall vest with respect to twenty-five percent (25%) of the Shares initially covered by the Restricted Share Unit Award on each of the first, second, third and fourth anniversaries of the Date of Grant. At any time, the portion of the Restricted Share Unit Award which has become vested as described above (or pursuant to Section 3 below) is hereinafter referred to as the “Vested Portion.”
Vesting Period. Subject to the terms and conditions of this Agreement (including the Forfeiture provisions described in Section 2 below), the RSUs shall vest according to the terms set forth in Exhibit A. As soon as practicable after each applicable Vesting Date, but no later than thirty (30) days following the Vesting Date, the Company shall instruct its transfer agent to deposit the Shares subject to the RSUs into the Participant’s existing equity account at Fidelity Stock Plan Services, LLC, or such other broker with which the Company has established a relationship (“Broker”), subject to payment in accordance with Section 6 of all applicable [withholding]1 taxes. Notwithstanding the above, the Shares may be distributed following the date contemplated in this Section 1(b) solely to the extent permitted or required under Code Section 409A and regulations thereunder (“Section 409A”).
Vesting Period. The Performance Shares shall no longer be subject to the restrictions set forth herein on the earlier to occur of (such date, the “Vesting Date”):
(a) the last day of any five consecutive trading day period during which the average closing price of the Corporation’s common stock on the New York Stock Exchange (or such other securities exchange on which the Corporation’s Common Stock may then be traded) equals or exceeds thirty-four dollars ($34.00); or
(b) the date there is a Change of Control of the Corporation (as defined in the Employment Agreement). Except as otherwise provided in the Employment Agreement, in the event the Restricted Stockholder’s employment is terminated by the Corporation or voluntarily by the Restricted Stockholder, the Restricted Stockholder will surrender all of the unvested Performance Shares issuable pursuant to the terms hereof. The number of shares granted and the stock price referred to above shall be adjusted for changes in the Common Stock as outlined in Section 18.4 of the Stock Incentive Plan or as otherwise mutually agreed in writing between the parties.
Vesting Period. You do not have any rights or interests in this option until it vests, as follows:
(a) Twenty-five percent (25%) of the option (rounded to a whole share) will vest on each of the first, second, third, and fourth anniversaries of the date of grant, but only if you are still employed by Arrow (or one of its subsidiaries or affiliates) on the applicable anniversary.
(b) Any unvested part of this option will vest immediately upon your death, disability, or retirement, and the entire option will remain exercisable until the expiration date, but only if you are still employed by Arrow (or one of its subsidiaries or affiliates) at the time of your death, disability or retirement.
(c) Any unvested portion of this option will vest immediately, and the entire option will remain exercisable until the expiration date, upon the termination of your employment by Arrow, or by you for good reason, within two years after a change of control of Arrow. This section (c) will not apply, however, if (1) you are terminated by Arrow for cause, or (2) this option's exercise price is greater than the share price as at the close of business on the date of your termination.
(d) If your employment terminates during the option term by reason of a reduction in force or restructuring as determined by the Compensation Committee of Arrow's Board of Directors or its designee (the "committee"), any unvested portion of the option shall be forfeited immediately and any vested portion of the option shall remain exercisable until the earlier of: (i) twelve months after the end of your employment, or (ii) the expiration date.
(e) Any unvested portion of this option will continue to vest and any vested portion will remain exercisable during any military leave of absence (as that term is defined in the then current applicable Arrow Employee Handbook.)
(f) The terms, "cause", "change of control", "disability", "good reason", and "retirement", as used in this Section 2, are defined in Section 8, below.
Vesting Period. Subject to the provisions of the Plan, Restricted Stock Units shall vest according to the Vesting Dates set forth in Exhibit A hereto, provided that the Participant is an Employee of or providing services to the Company and/or its Affiliates on the applicable Vesting Date. Where there is a discrepancy between the terms of Exhibit A and the terms of the Plan, Exhibit A shall govern.