Vesting and Lapse of Restrictions. Subject to Sections 2.2(a) and 2.2(c), the Award shall vest and Restrictions shall lapse in accordance with the vesting schedule set forth on the Grant Notice.
Vesting and Lapse of Restrictions. (a) All shares of Restricted Stock subject to this Award shall vest in full (and all restrictions thereon shall lapse) on the first anniversary of the Award Date, provided the Participant is a Director on such anniversary.
(b) All shares of Restricted Stock (and any substitute security and cash component distributed in connection with a Change of Control) subject to this Award shall vest in full (and all restrictions thereon shall lapse), irrespective of the provision set forth in subparagraph (a) above, provided that the Participant has been in continuous service as a Director since the Award Date, upon the earlier to occur of:
(i) the Participant’s death; or
(ii) a Change of Control.
(c) For purposes of this Agreement:
Vesting and Lapse of Restrictions. Subject to the terms of this Agreement, the RSUs covered by this Award shall vest and all Restrictions thereon shall lapse in accordance with the schedule set forth in the Notice of Award, provided in each case that Participant remains continuously as an employee of Company or a Subsidiary from the Award Date through the particular scheduled vesting date therefor (except only as may otherwise be expressly set forth in (i) any employment, severance or change in control agreement of the Company or a Subsidiary with Participant, or (ii) Section 3(g) below related to the Retirement of the Participant). For purposes of this Agreement, “Restrictions” shall mean the exposure to forfeiture set forth in this Award.
Vesting and Lapse of Restrictions. The Grantee may not sell, transfer, assign, exchange, pledge, encumber or otherwise dispose of any Restricted Stock Units or any Shares underlying such Restricted Stock Units prior to such Vesting Date (defined below) or as may otherwise be set forth within this Agreement, and the Restricted Stock Units are also restricted in the sense that they may be forfeited to the Company (together, the “Restrictions”). Subject to Sections 4 and 5 hereof, provided that the Grantee continues to serve as an employee of the Company or any of its Subsidiaries, all Restrictions shall lapse and the Restricted Stock Units shall vest on the third anniversary of the Grant Date (such date the “Vesting Date”).
Vesting and Lapse of Restrictions. Subject to Section 3.1, the Award shall vest in full on the third anniversary of the Award Date (the “Vesting Date”) if the Participant is employed by the Company on such date. If the Participant dies or becomes permanently and totally disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Vesting Date and while the Participant is employed by the Company, the Award shall vest in full upon the date of the Participant’s death or disability.
Vesting and Lapse of Restrictions. Subject to Sections 5 and 6 hereof, provided that the Grantee continues to serve as an employee of the Company or any of its Subsidiaries, the Restrictions on the Shares of Restricted Stock shall lapse and the Restricted Stock granted hereunder shall fully vest on the third anniversary of the Grant Date (such date, the “Vesting Date”).
Vesting and Lapse of Restrictions. Subject to Section 2.2(a) and 2.2(c), the Award shall vest and the Restrictions shall lapse in accordance with the vesting schedule set forth in the Notice of Restricted Stock Award above; provided, however, that to the extent permitted by applicable law, the Administrator may, in its sole discretion, suspend the vesting and lapsing of Restrictions applicable to the Award during all or any part of any leave of absence from employment taken by the Holder.
Vesting and Lapse of Restrictions. Subject to Sections 3(a) and 3(c), the Award shall vest and Restrictions shall lapse with respect to 100% of the Shares subject to the Award (rounded down to the next whole number of shares) on January 30, 2010, provided in each case that the Participant remains continuously employed in active service by the Company from the Award Date through such date.
Vesting and Lapse of Restrictions. (a) Subject to Section 3.1, the Award shall vest in full on the first anniversary of the Award Date (the “Vesting Date”) if the Participant is serving on the Board on such date.
(b) If the Participant dies or becomes permanently and totally disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Vesting Date and while the Participant is serving on the Board, the Award shall vest in full upon the date of the Participant’s death or disability.
(c) If, prior to the Vesting Date, the Participant ceases to serve on the Board for any reason other than removal for cause, a portion of the Award shall vest on the last day of Board service in an amount equal to the product of (a) the total number of shares of Restricted Stock subject to the Award and (b) the quotient of (i) the number of days elapsed between the Award Date and the date the Participant’s service on the Board ended, divided by (ii) 365 (rounded down to the nearest whole share). All remaining unvested shares shall thereupon be forfeited immediately and without further action by the Company.
Vesting and Lapse of Restrictions. Subject to Section 3.2(b) and Sections 3.4, 3.5 and 3.6, shares of Restricted Stock shall vest and become nonforfeitable in the hands of the Holder as follows:
(a) One third (1/3) of the shares of Restricted Stock or One Thousand Eight Hundred and Thirty-three (1,833) shares shall become vested, and the Restrictions on such shares shall lapse, upon August 1, 2005 provided that Holder’s Termination of Employment shall not have occurred as of such date.
(b) The Restrictions on the remaining two-thirds (2/3) of the shares of Restricted Stock shall thereafter lapse monthly at the rate of one-twenty fourth (1/24) per month or One Hundred and Fifty-Two (152) shares per month commencing on September 1, 2005 and on the 1st day of each month thereafter, provided that any unvested shares of Restricted Stock shall vest on September 1, 2007 and provided further that Holder’s Termination of Employment shall not have occurred as of the 1st day of a month.
(c) Notwithstanding Section 3.2(a) above, no shares of Restricted Stock shall become vested following the Holder’s Termination of Employment.
