Retention RSU definition
Examples of Retention RSU in a sentence
Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Additional Retention RSU Grant, if granted, shall become fully vested on July 10, 2009, subject to Employee’s continued full-time employment by the Company on that date.
Except as provided under the accelerated vesting provisions applicable to Equity Awards set forth herein, the Initial Retention RSU Grant shall become fully vested on July 10, 2008, subject to Employee’s continued full-time employment by the Company on that date.
Payment with respect to any Additional Retention RSU Grant awarded under this clause (ii) shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).
In the event of a Change of Control during the Employment Term, the Company’s successor, assignee or transferee shall assume the Company obligations to issue the Additional Retention RSU Grant, as provided in Section 4(f)(ii) of this Agreement.
Payment with respect to the Initial Retention RSU Grant shall be made in full no later than ten (10) business days after the date on which such Grant first becomes vested pursuant to the preceding sentence or pursuant to any applicable accelerated vesting provision under Section 5 or Section 6(b).
Immediately prior to the Effective Time, each Retention RSU will automatically be canceled and substituted for as provided for in Section 1.6(a)(iii).
For avoidance of doubt, the Retention RSU award agreement will provide that the Retention RSUs will not be subject to the special retirement vesting provisions set forth in Section 4.7 of the Plan.
You shall also be required to pay to the Company the amount of all Retention RSU Gain upon the occurrence of those certain events described in Section 11(b) of the Employment Agreement.
Fifty percent (50%) of the Retention RSUs will vest on the first (1st) anniversary of the Retention RSU Grant Date, and the remaining fifty percent (50%) will vest on the second (2nd) anniversary of the Retention RSU Grant Date, provided that the Executive remains employed by the Company or a designated assignee on each vesting date.
The vesting, settlement and other terms of the Initial RSUs and Retention RSUs shall be as set forth in the Initial RSU Award Agreement attached hereto as Exhibit A and Retention RSU Award Agreement attached hereto as Exhibit B (together, the “RSU Award Agreements”).