VESTING SCHEDULE; SERVICE REQUIREMENT. Except as provided otherwise in Section 4 of this Agreement, the Awarded Shares shall vest unless Grantee’s membership on the Board is terminated as a result of Grantee’s (i) Removal, (ii) not being re-nominated for Board membership for the next succeeding period, (iii) being nominated for Board membership for the next succeeding period but not being reelected for Board membership for such period by the Company’s shareholders, or (iv) resignation (each a “Forfeiture Event”) during the period commencing with the Grant Date and ending with the applicable date that such portion of the Awarded Shares vests (each, a “Vesting Date”). Awarded Shares that have vested pursuant to this Agreement are referred to herein as “Vested Awarded Shares” and Awarded Shares that have not yet vested pursuant to this Agreement are referred to herein as “Unvested Awarded Shares.” Subject to the provisions of Section 4 of this Agreement, if the Grantee does not experience a Forfeiture Event prior to an applicable Vesting Date, the Awarded Shares will vest in accordance with the Vesting Dates set forth on the first page of this Agreement under the heading “Vesting of Awarded Shares.” If an installment of the vesting would result in a fractional Vested Awarded Share, such installment will be rounded to the next lower Awarded Share, as determined by the Company, except the final installment, which will be for the balance of the Awarded Shares.
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as otherwise accelerated by the Committee or provided below in this Section 3, the Awarded Shares shall vest during Participant’s continued service with the Company or an Affiliate (including Participant’s services for the Company pursuant to the Services Agreement, dated as of December 19, 2011, by and between Xxxxxxx Oil & Gas Corporation and the Company) (“Continuous Service”) on the “Vesting Date” set forth above (the “Vesting Date”) on the first page of this Agreement under the heading “Vesting of Awarded Shares,” as follows: one hundred percent (100%) of the Awarded Shares will vest on the fifth anniversary of the Date of Grant. Notwithstanding the foregoing, (i) fifty percent (50%) of the Awarded Shares will vest on the first date that the Fair Market Value of one Common Share for each day in the prior fifteen (15) trading day period equals or exceeds $4.52 and (ii) one hundred percent (100%) of the Awarded Shares will vest on the first date that the Fair Market Value of one Common Share for each day in the prior fifteen (15) trading day period equals or exceeds $6.02 in each case, subject to Participant’s Continuous Service through such date; provided, that if such date referenced in clause (i) or clause (ii) occurs prior to the first anniversary of the Date of Grant, the Awarded Shares will instead vest on the first anniversary of the Date of Grant pursuant to clause (i) or clause (ii), as applicable. For purposes of clarity, the date on which any of the Awarded Shares become Vested Awarded Shares pursuant to clause (i) or clause (ii) shall be deemed to be the Vesting Date with respect to such Awarded Shares. Awarded Shares that have vested pursuant to this Agreement are referred to herein as “Vested Awarded Shares” and Awarded Shares that have not yet vested pursuant to this Agreement are referred to herein as “Unvested Awarded Shares.” Notwithstanding the foregoing, upon the occurrence of a Change of Control, a Qualifying Termination (as defined below), a Constructive Termination (as defined below), Participant’s death or Disability, any Unvested Awarded Shares shall become Vested Awarded Shares. If an installment of the vesting would result in a fractional Vested Awarded Share, such installment will be rounded to the next lower Awarded Share except the final installment, which will be for the balance of the Awarded Shares. Upon vesting of the Awarded Shares, the Company shall, unless otherwise paid by Participant as described in Section ...
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as provided otherwise in Section 4 of this Agreement, the Awarded Shares shall vest if the Grantee does not experience a Termination of Service during the period commencing with the Grant Date and ending with the applicable date that such portion of the Awarded Shares vests (each, a “Vesting Date”). Awarded Shares that have vested pursuant to this Agreement are referred to herein as “Vested Awarded Shares” and Awarded Shares that have not yet vested pursuant to this Agreement are referred to herein as “Unvested Awarded Shares.” Subject to the provisions of Section 4 of this Agreement, if the Grantee does not experience a Termination of Service prior to an applicable Vesting Date, thirty-three and one-third percent (33 1/3%) of the Awarded Shares will vest on the first Vesting Date; an additional thirty-three and one-third percent (33 1/3%) of the Awarded Shares will vest on the second Vesting Date; and the remaining thirty-three and one-third percent (33 1/3%) of the Awarded Shares will vest on the third Vesting Date, all as set forth on the first page of this Agreement under the heading “Vesting of Awarded Shares.” If an installment of the vesting would result in a fractional Vested Awarded Share, such installment will be rounded to the next higher or lower Awarded Share, as determined by the Company, except the final installment, which will be for the balance of the Awarded Shares.
VESTING SCHEDULE; SERVICE REQUIREMENT. One-third (33 and 1/3%) of the Restricted Stock will vest on each of the first three annual anniversary dates from the Grant Date, as set forth hereto on Schedule I (each, a "Vesting Date"), if Grantee has been employed by or provided advisory services to the Company continuously from the Grant Date to the applicable Vesting Date.
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as otherwise accelerated by the Committee, a portion of the Phantom Shares shall vest during Participant’s continued service with the Company or an Affiliate (including Participant’s services for the Company pursuant to the Services Agreement, dated as of December 19, 2011, by and between Xxxxxxx Oil & Gas Corporation and the Company) (“Continuous Service”) on each “Vesting Date” set forth above (each, a “Vesting Date”), in each case, as set forth on the first page of this Agreement under the heading “Vesting of Phantom Shares,” as follows:
(a) thirty-three and one-third percent (33 1/3%) of the Phantom Shares will vest on the first Vesting Date;
(b) an additional thirty-three and one-third percent (33 1/3%) of the Phantom Shares will vest on the second Vesting Date; and
(c) an additional thirty-three and one-third percent (33 1/3%) of the Phantom Shares will vest on the third Vesting Date. Phantom Shares that have vested pursuant to this Agreement are referred to herein as “Vested Phantom Shares” and Phantom Shares that have not yet vested pursuant to this Agreement are referred to herein as “Unvested Phantom Shares.” Notwithstanding the foregoing, upon the occurrence of a Change of Control, a Qualifying Termination (as defined below), Participant’s death or Disability, any Unvested Phantom Shares shall become Vested Phantom Shares. If an installment of the vesting would result in a fractional Vested Phantom Share, such installment will be rounded to the next lower Phantom Share except the final installment, which will be for the balance of the Phantom Shares.
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as provided otherwise in Section 4 of this Agreement, one hundred percent (100%) of the Restricted Stock Units shall vest, subject to Participant’s continued service as a member of the Board (“Board Service”), on the “Vesting Date” set forth on Participant’s Grant Summary Report (the “Vesting Date”).
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as provided otherwise in Section 4 of this Agreement, a portion of the RSUs shall vest during Participant’s continued service with the Company or an Affiliate (“Continuous Service”) on each “Vesting Date” set forth on Participant’s Grant Summary Report (each, a “Vesting Date”) as follows:
(a) thirty-three and one-third percent (33 1/3%) of the RSUs will vest on the first Vesting Date;
(b) an additional thirty-three and one-third percent (33 1/3%) of the RSUs will vest on the second Vesting Date; and
(c) the remaining thirty-three and one-third percent (33 1/3%) of the RSUs will vest on the third Vesting Date. If an installment of the vesting would result in a fractional vested RSU, such installment will be rounded to the next higher or lower RSU, except that the final installment will be for the balance of the RSUs.
VESTING SCHEDULE; SERVICE REQUIREMENT. (a) Subject to the other provisions of this Section 3, Grantee’s ownership of Awarded Shares shall vest (i.e., become nonforfeitable) if Grantee has been a Service Provider from the Date of Grant up to the applicable “Vesting Date” set forth in the following vesting schedule: % % If Grantee ceases to be a Service Provider for any reason other than: (i) a termination of Grantee’s Service by the Company or an Affiliate for Cause, or (ii) Grantee’s voluntary termination of Service other than for Good Reason, and such termination occurs between Vesting Dates, then a prorated number of the Awarded Shares to be vested as of the next succeeding Vesting Date (which prorated number shall be calculated based on the number of days in the applicable vesting period prior to the termination over the total number of days in such vesting period) shall be deemed to have been vested as of the date of such termination; provided that no fraction of a share shall be deemed vested pursuant to this provision. Upon a Change of Control, all Shares of Restricted Stock shall become fully vested, subject to Section 17.2(a) and (b) of the 2004 Plan.
(b) For purposes of this Agreement, “Person” means an individual or entity, such as, but not limited to, a corporation, general partnership, joint venture, limited partnership, limited liability company, trust or business association.
VESTING SCHEDULE; SERVICE REQUIREMENT. The Awarded Shares shall vest if Grantee has been employed continuously from the Grant Date to the applicable date that such portion of the Awarded Shares vests (each, the "Vesting Date"). One hundred percent (100%) of the Awarded Shares will fully vest two years after the Grant Date (November 14, 2004). Shares that have not yet vested pursuant to this Agreement are referred to herein as "Unvested Shares."
VESTING SCHEDULE; SERVICE REQUIREMENT. Except as otherwise accelerated by the Committee, the Phantom Shares shall vest during Participant’s continued service with the Company or an Affiliate (including Participant’s services for the Company pursuant to the Services Agreement, dated as of December 19, 2011, by and between Xxxxxxx Oil & Gas Corporation (“SOG”) and the Company) (“Continuous Service”) in accordance with, and subject to the terms and conditions, set forth in Schedule I attached hereto. Phantom Shares that have vested pursuant to this Agreement, including Schedule I attached hereto, are referred to herein as “Vested Phantom Shares” and Phantom Shares that have not yet vested pursuant to this Agreement are referred to herein as “Unvested Phantom Shares.” If an installment of the vesting would result in a fractional Vested Phantom Share, such installment will be rounded to the next lower Phantom Share except the final installment, which will be for the balance of the Phantom Shares.
