Vesting and Settlement Sample Clauses
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Vesting and Settlement. The Restricted Shares shall cease to constitute Restricted Shares, and shall become unrestricted Shares, pursuant to the vesting schedule attached as Exhibit A.
Vesting and Settlement. The RSUs that are granted hereby shall be subject to the Forfeiture Restrictions. The Restricted Period and all of the Forfeiture Restrictions on the RSUs shall lapse and the RSUs shall vest as follows (it being understood that the number of RSUs as to which all restrictions have lapsed and which have vested in the Recipient at any time shall be the greatest of the number of vested RSUs specified in subparagraph (a), (b), (c) or (d) below):
(a) Subject to continued service as a Director through such date, the Recipient shall become 100% vested as to the RSUs on the first anniversary of the Grant Date.
(b) If the Recipient’s service as a Director is terminated (including as a result of a failure to be re-elected) before all of the RSUs have vested other than as a result of (i) removal for cause (as determined in the Board’s sole discretion), or (ii) voluntary resignation or refusal to stand for re-election, except where such resignation or refusal to stand for re-election is (x) part of a Board-approved director succession plan, (y) pursuant to the Company’s majority voting policy or (z) a result of physical disability, serious illness or injury that materially impairs her or his ability to continue as a Director, then the Recipient shall become vested in the number of RSUs equal to the product of (A) 100% of the RSUs that are granted hereby, multiplied by (B) a fraction, the numerator of which is the number of days in the period commencing on and including the Grant Date and ending on and including the date of the Recipient’s termination of service, and the denominator of which is 365.
(c) If the Recipient’s service as a Director is terminated before all of the RSUs have vested as a result of (i) removal for cause (as determined in the Board’s sole discretion), or (ii) voluntary resignation or refusal to stand for re-election, where such resignation or refusal to stand for re-election is not (x) part of a Board-approved director succession plan, (y) pursuant to the Company’s majority voting policy or (z) a result of physical disability, serious illness or injury that materially impairs her or his ability to continue as a Director, then any RSUs that have not vested shall be immediately forfeited and the Recipient shall cease to have any rights with respect to such forfeited RSUs.
(d) Upon the occurrence of a Change of Control, the RSUs that have not vested as of the date of such Change of Control shall be 100% vested; provided, however, that this subparagr...
Vesting and Settlement. 2.1 One-third (1/3) of the RSUs subject to vesting based on continued service shall vest in a lump sum on each of the first, second, and third anniversaries of the Vesting Commencement Date specified above, subject to the Recipient’s continued service through each such anniversary, except as provided below, with any fractions rounded down except on the final installment. The shares of Stock earned as such RSUs vest will be transferred or issued to the Recipient promptly after the applicable anniversary, but in any event not later than December 31 of the calendar year in which such anniversary occurs.
2.2 Until the RSUs vest and are issued pursuant to the terms of this Award Agreement, the Recipient shall have no voting or other ownership rights in the Company arising from the award of RSUs under this Agreement prior to the delivery of the shares of Stock upon the vesting of the RSUs underlying the award and delivery of the shares of Stock in settlement thereof.
2.3 If cash dividends are declared by the Company’s Board of Directors on the Stock on or after the Grant Date and prior to the settlement of the RSU, cash dividend equivalents (the “Dividend Equivalents”) shall accrue on the shares of Stock underlying RSUs, which Dividend Equivalents shall be subject to vesting and forfeiture on the same terms and conditions as the underlying RSUs. Such Dividend Equivalents will be in an amount of cash per RSU equal to the cash dividend paid with respect to a share of outstanding Stock and shall accrue to the Recipient on the record date of the applicable dividend. The Dividend Equivalents accrued prior to the settlement date of each vested RSU will be paid to the Recipient with respect to all vested RSUs as soon as administratively feasible after each settlement date (but in no event later than 45 days following each respective settlement date). The Dividend Equivalents accrued on shares of Stock underlying RSUs that do not vest and are forfeited shall be automatically forfeited without notice for no consideration on the date such RSU is forfeited.
2.4 The Recipient’s name shall be entered as the stockholder of record on the books and records of the transfer agent for the Company with respect to the Stock issuable pursuant to Section 2.1 only upon compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance and with the requirements of this Agreement and of the Plan. The determination o...
Vesting and Settlement. (a) The Shares shall be one hundred percent (100%) vested as of the Date of Grant.
(b) Except as may otherwise be provided herein, subject to the Participant’s continued employment or service with the Company or an Affiliate, the RSUs shall vest in equal installments on each of the first three (3) anniversaries of the Date of Grant (each such date, a “Vesting Date”). Upon each Vesting Date, such portion of the RSUs that vest on such date shall no longer be subject to the transfer restrictions pursuant to Section 9(a) hereof or cancellation pursuant to Section 4 hereof. Any fractional RSUs resulting from the application of the vesting schedule shall be aggregated and the RSUs resulting from such aggregation shall vest on the final Vesting Date.
(c) Vested RSUs shall be settled within ten (10) days following the Vesting Date for such RSUs in shares of Class A Common Stock, or cash, as determined by the Committee in its sole discretion.
Vesting and Settlement. (a) The Shares shall be one hundred percent (100%) vested as of the Date of ▇▇▇▇▇.
(b) Except as may otherwise be provided herein, subject to the Participant’s continued employment or service with the Company or an Affiliate, the RSUs shall vest in equal installments on each of the first three (3) anniversaries of the Date of Grant (each such date, a “Vesting Date”). Upon
(c) Vested RSUs shall be settled within ten (10) days following the Vesting Date for such RSUs in shares of Class A Common Stock, or cash, as determined by the Committee in its sole discretion.
Vesting and Settlement. Subject to the Participant’s continuous service with the Company, the Restricted Stock Units shall vest on the third anniversary of the Date of Grant. If the Restricted Stock Units have vested in accordance with this vesting schedule, they are referred to herein as “Vested Units.” If the Restricted Stock Units have not vested in accordance with this vesting schedule, they are referred to herein as “Unvested Units.” Notwithstanding anything herein or in the Plan to the contrary, all Unvested Units shall become immediately and fully vested and thereafter be considered Vested Units upon the Participant’s cessation from service as a member of the Board due to Retirement, death or Disability. For purposes of the definition of “Retirement” (as defined in the Plan), “Cause” means, as determined by the Company, (i) the willful failure by the Participant to substantially perform his or her duties with the Company (other than any such failure resulting from the Participant’s incapacity due to physical or mental illness); (ii) the Participant’s willful misconduct that is demonstrably and materially injurious to the Company, monetarily or otherwise; (iii) the Participant’s commission of such acts of dishonesty, fraud, misrepresentation or other acts of moral turpitude as would prevent the effective performance of the Participant’s duties; or (iv) the Participant’s conviction or plea of no contest to a felony or a crime of moral turpitude. Except as set forth in the preceding two sentences, upon the termination of the Participant’s service as a director for any reason, any then Unvested Units held by the Participant shall be forfeited and canceled as of the date of such termination. The Vested Units shall be settled by the delivery to the Participant or a designated brokerage firm of one share of Common Stock per Vested Unit within thirty (30) days after the vesting or accelerated vesting of such Restricted Stock Units as set forth in the preceding paragraph. No fractional shares will be issued under this Agreement.
Vesting and Settlement. (a) Subject to Sections 3(b), 3(c) and 3(d) below, the Restricted Share Units will vest as provided in Section 2 above.
(b) In the event of your termination of Continuous Service on account of your death, a pro-rata portion of the Restricted Share Units shall vest, based upon the number of days between the Date of Grant and the date of such termination.
(c) In the event of a Change of Control, the Restricted Share Units shall vest immediately prior to the consummation of the Change of Control, so long as your termination of Continuous Service has not previously occurred.
(d) In the event of your termination of Continuous Service for any other reason, you shall forfeit any and all Restricted Share Units that have not vested as of the date of such termination.
(e) Upon the vesting of any Restricted Share Units, as promptly as is reasonably practicable (but in any event no later than March 15 of the calendar year following the calendar year of vesting), Shares (which shall be fully paid up at the Date of Grant) shall be issued to you, and the Company shall deliver to you appropriate documentation evidencing the number of Shares issued in settlement of such vested Restricted Share Units. However, the settlement of the Restricted Share Units shall be conditioned upon your making adequate provision for Tax-Related Items, as discussed in Section 7 below.
Vesting and Settlement. (a) The Grant shall vest in full on the third anniversary of the Grant Date (a “Vesting Date”), subject to the Participant continuing to actively and without interruption remain Employed through the Vesting Date.
(b) Upon vesting, subject to this Section 3, the Participant shall have the right to receive a number of shares of Common Stock corresponding to the number shares of Common Stock underlying the Grant. As soon as reasonably practicable and in any event no later than the thirtieth (30th) day following the Vesting Date, the Company shall transfer to the Participant, in full and complete satisfaction of all of the obligations of the Company and the rights of the Participant in respect of such RSUs, a number of shares of Common Stock, registered in the Participant’s name, equal to the number of such RSUs that are settled on and as of such date (the “Settlement Date”). (Except as otherwise provided herein, on or prior to the Settlement Date, the Participant shall remit to the Company an amount in cash, by wire transfer of immediately available funds, certified check or such other method as the Company shall determine sufficient to satisfy any applicable employment taxes and any U.S. federal, state and local and non-U.S. withholding requirements. The Company may determine to satisfy any such employment tax and/or withholding obligations through net settlement, but is under no obligation to do so.)
(c) The Company may, in its sole discretion, in lieu of delivering shares of Common Stock in settlement of the Vested RSUs pursuant to Section 3(b), elect to pay cash for the shares of Common Stock that would otherwise have been delivered on the Settlement Date, less applicable employment taxes and withholding, at a price per share of Common Stock equal to the Fair Market Value as of the Settlement Date.
(d) Notwithstanding the forgoing, all RSUs will vest in full upon the consummation of a Change in Control (such date also a “Vesting Date”), subject to the Participant continuing to actively and without interruption remain Employed through the date such Change in Control is consummated.
Vesting and Settlement. 2.1 The RSUs shall vest in accordance with the schedule set forth below.
Vesting and Settlement. (a) Subject to the limitations contained herein, the Performance Units will vest as provided in Schedule A attached hereto
(b) Upon the vesting of any Performance Units, as promptly as is reasonably practicable (but in any event no later than March 15 of the calendar year following the calendar year of vesting), Shares (which shall be fully paid up) shall be issued to you, and the Company shall deliver to you appropriate documentation evidencing the number of Shares issued in settlement of such vested Performance Units. However, the settlement of the Performance Units shall be conditioned upon your making adequate provision for Tax-Related Items, as discussed in Section 7 below.