Vesting Terms. The RSUs covered by this Agreement shall vest (i.e., become Vested RSUs) in installments in accordance with the following vesting terms and schedule:
Vesting Terms. The Share Grant shall vest ratably in equal installments over twenty-four (24) months beginning on April 30, 2021, provided, that 100% (one hundred percent) of the Share Grant shall vest upon the successful closing of a Business Combination by the SPAC during the Term, regardless of the date of such closing.
Vesting Terms. (a) Upon vesting under the terms and conditions of the Plan and this Agreement, each RSU represents the right to receive from Tidewater one share of Common Stock, free of any restrictions, and any amounts, securities, and property notionally credited to his or her Account (as defined in Section 2.1) with respect to such RSU.
Vesting Terms. (1) 50% of the Transferred Sponsor Warrants shall vest at such time as a $13.00 stock price level is achieved, and (2) the remaining 50% of the Transferred Sponsor Warrants shall vest at such time as a $16.00 stock price level is achieved, in each case, on or before the seventh (7th) anniversary of the Closing Date; provided, that if CHP consummates a transaction after the Closing which results in the holders of New CHP Common Shares having the right to exchange their Shares for cash, securities or other property, the Transferred Sponsor Warrants will be released from all remaining vesting restrictions in connection with the consummation of such transaction and will become immediately vested in full immediately prior to such transaction. Such stock price levels will be equitably adjusted on account of any share split, reverse share split or similar equity restructuring transaction.
Vesting Terms. All options shall be fully vested upon their issuance, but forfeitable to the Company prior to their exercise in the event that Executive terminates his employment without cause during the term of this Agreement.
Vesting Terms. One hundred percent (100%) of the Restricted Shares shall initially be unvested and subject to the Repurchase Right, and shall vest and be released from the Repurchase Right annually in five (5) equal installments over five years commencing from the December 31, 2015, provided that the Principal remains an employee of any Group company as of the date of such vesting and release.
Vesting Terms. One hundred percent (100%) of the Restricted Shares shall initially be unvested and subject to the Repurchase Right, with the understanding that one-fourth (1/4th) of the Restricted Shares shall vest on the Vesting Commencement Date and be released from the Repurchase Right on the first anniversary of the Vesting Commencement Date and one-forty eighths (1/48th) shall vest on each month anniversary thereafter, with the Restricted Shares vested in full on the fourth anniversary of the Vesting Commencement Date; provided that the Participant’s Continuous Status is not terminated in the manner described under Section 2(a) as of or prior to the date of such periodic vesting and release.
Vesting Terms. One-fourth (1/4th) of the Phantom Shares will vest on the first anniversary of the Vesting Commencement Date, and the balance of the Phantom Shares will vest in a series of thirty-six (36) successive equal monthly installments thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month), such that all of the Phantom Shares will be vested on the fourth anniversary of the Vesting Commencement Date, subject to Participant’s Continuous Service as of each such date. Vested Phantom Shares will remain outstanding until the earlier of: (i) the Expiration Date, (ii) a Liquidity Event, and (iii) a termination of Participant’s Continuous Service for Cause. If the Vested Phantom Shares terminate for any of the foregoing reasons other than pursuant to a Liquidity Event, such Vested Phantom Shares will be forfeited to the Company and no payment therefor will be made at any time. Confirmation and Waiver: Participant confirms that the award of Phantom Shares set forth in this Phantom Share Agreement is in full satisfaction of any obligation by the Company to issue an award under a phantom stock plan to Participant as set forth in an employee offer letter or otherwise. Participant hereby irrevocably waives any right to receive any other equity or phantom equity in connection with Participant’s prior services to the Company.
Vesting Terms. Performance-based PSU shares will be eligible to vest subject to satisfaction of the vesting and performance criteria below.
Vesting Terms. Subject to Sections 3.2(b), 3.2(c), 3.2(d), and 3.2(e) below, as long as the Founder is continuously an employee of a Group Company, the Restricted Shares shall vest and be released from the Repurchase Right according to the following schedule: (i) twenty percent (20%) of the Restricted Shares set forth opposite the name of a Founder in Schedule I hereto shall be released from the Repurchase Right and shall therefore become Vested Shares and shall no longer be deemed Restricted Shares on October 23, 2008 (the “Start Date”); (ii) another twenty percent (20%) of the Restricted Shares set forth opposite the name of such Founder in Schedule I hereto shall be released from the Repurchase Right and shall therefore become Vested Shares and shall no longer be deemed Restricted Shares on the first anniversary of the Start Date; (iii) after the first anniversary of the Start Date, 1/36 of the remaining Restricted Shares shall be released from the Repurchase Right and shall therefore become Vested Shares and shall no longer be deemed Restricted Shares every thirty (30) day thereafter; provided that, the holders of a majority of the voting power of the outstanding Preferred Shares may approve a shorter vesting schedule than the schedule set forth above.
