Core Shares definition
Examples of Core Shares in a sentence
Subject to Section 12, as soon as practicable after any Core Shares become vested, the Company will pay to the Grantee in cash or in kind (as applicable) the dividends accrued with respect to such shares.
The restricted shares of Common Stock that comprise the Core Award (the "Core Shares") will be granted to the Grantee under the Company's 2002 Stock Option Plan (the "Plan"), the terms and conditions of which are hereby incorporated by reference.
In the event of a winding up, the Ordinary Shares carry the right to receive out of the assets of the Core a return of the nominal amount paid up on such shares, before the return of the nominal amounts paid up on all Core Shares.
If the Grantee's employment with the Company and all Affiliates is terminated prior to the fourth Annual Vesting Date for any other reason, any Core Shares that have not yet become vested will thereupon be forfeited.
The Core Shares will not be transferable by the Grantee until such shares become vested in accordance with Section 3.
The Core Shares will accrue on a cumulative basis all dividends paid on such shares from the date of actual issuance through the date of vesting.
Subject to Section 12, as soon as practicable after any portion of the Grantee's Core Shares become vested and transferable (as determined under Section 3), the Company will instruct its stock transfer agent (i) to issue certificates to the Grantee representing such vested Core Shares without the legends contemplated under Section 1 and (ii) to process any applicable transfers of such vested Core Shares.
If the vesting performance requirement is not satisfied for a given period, the Core Shares from such year or years will not be forfeited and will be eligible to become vested if the vesting performance requirement applicable to such Core Shares is satisfied on a cumulative and compounded basis for an extended performance period that includes the year ended prior to the original Annual Vesting Date and the and the year ended on the following Annual Vesting Date.
Nominal Shares may only be issued to the Manager at par and for the purposes of providing funds for the redemption of Core Shares or Cell Shares, and shall be issued in respect of the Core or the Cell from which such shares are to be redeemed.
On March 13, 2004, the Executive shall become vested with respect to, and the restrictions shall lapse on, 18.75% of the Core Shares, so long as the Executive would have become vested with respect to such Core Shares had the Executive remained continuously employed with the Company through that date.