Examples of Accelerated Shares in a sentence
Upon the earlier of (i) the Resignation Date or (ii) April 30, 2006, Executive shall have six (6) months to exercise all Option Agreement 3 Accelerated Shares and other vested shares.
The Accelerated Shares will be issued promptly following the date of your death, disability or termination.
You agree that the Company may sell enough of the Accelerated Shares to cover the tax liabilities due on the vesting of the Accelerated Shares in order to remit the taxes due on your behalf.
The remaining Accelerated Shares will not be delivered to you, and you will have no right to transfer, encumber or dispose of such remaining Accelerated Shares, until February 28, 2011.
The Excise Tax is imposed when the value, as determined by applicable regulations, of payments in the nature of compensation contingent on a Change in Control (including all or a portion of the Accelerated Shares) equals or exceeds three times the average of your last five years’ W-2 earnings.
Any program offered outside the school year supervised by certificated staff or board-approved consultant.
In the event the conditions described in clause (i) or (ii) above are not satisfied, such remaining Accelerated Shares will be forfeited to the Company without any payment to you.
The Company shall retain all Accelerated Shares until ten (10) business days after the Company’s receipt of this Agreement signed by Executive.
If on any Vesting Date or the date on which the Accelerated Shares become vested, the number of shares of Common Stock remaining subject to this Agreement are insufficient to equal the number of shares required for the Floor or the number of Accelerated Shares under the calculations described above, the Company will either grant Employee additional shares of Common Stock or cash equal to the difference.
Employee hereby accepts the acceleration of the Accelerated Shares in substitution for any cash severance payment to which he may be entitled under the EA unless otherwise provided herein.