Restricted Period Vesting Clause Example with 15 Variations from Business Contracts
This page contains Restricted Period Vesting clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The ...foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock.View More
Variations of a "Restricted Period Vesting" Clause from Business Contracts
Restricted Period Vesting. 3.1 Except as otherwise provided herein, in this Agreement, provided that the Grantee remains in Continuous has not incurred a Termination of Service through as of the applicable vesting date, date[, and further provided that any additional conditions and performance goals set forth in Schedule I (attached hereto) have been satisfied]1, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT... VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] The period over which [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] 1 NTD: Add if performance goals are applicable. 3.2 If the Grantee incurs a Termination of Service as the result of death or Disability, the Grantee will become vested in the number of shares of Restricted Stock (rounded up to the nearest whole share) that would have become vested as of the anniversary of the Grant Date next following such Grantee's death or Disability. 3.3 If a Change in Control occurs, and the acquiring corporation either assumes this award of Restricted Stock, or substitutes new awards with respect to stock of the acquiring corporation, the Restricted Stock vests is referred to as will not vest upon the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if Change in Control; provided, however, in the event that within twenty-four (24) months following a Change in Control, the Company terminates the Grantee's Continuous Service employment without Cause, or the Grantee terminates for any reason at any time before employment with Good Reason, then, the Grantee will become fully vested with respect to all of his or her the shares of Restricted Stock has vested, granted pursuant to this Agreement that have not previously been vested. In the event a Change in Control occurs and the acquiring corporation does not assume this award of Restricted Stock or provide substitute awards, the Grantee will become fully vested with respect to all of the shares of Restricted Stock granted pursuant to this Agreement that have not previously been vested. 3.4 Subject to Sections 3.2 and 3.3, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination the Grantee's Termination of Continuous Service and neither the Company nor any Affiliate affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock.View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in this Section 3 have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VES...T ON THE VESTING DATE] May 18, 2023 14,579 shares May 18, 2024 10,600 shares May 18, 2025 10,600 shares May 18, 2026 10,600 shares The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if the weighted average closing price of Company common shares for the 20 trading days prior to the first vesting date is less than 70% of the closing price of the common shares on the Grant Date, and as to any subsequent vesting date, if the weighted average closing price of Company common shares for the 20 trading days prior to the vesting date is less than 70% of the weighted average closing price of the common shares on the immediately prior vesting date, then the common shares scheduled to vest on the vesting date shall not vest but shall be automatically forfeited on the stated vesting date and neither the Company nor any Affiliate shall have any further obligations to the Grantee as to any portion of the Restricted Shares forfeited. 3.3 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Agreement, unless otherwise determined by the Committee. 3.4 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in this Section 3 have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VES...T ON THE VESTING DATE] May 18, 2023 9,379 shares May 18, 2024 8,000 shares May 18, 2025 8,000 shares May 18, 2026 8,000 shares The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if the weighted average closing price of Company common shares for the 20 trading days prior to the first vesting date is less than 70% of the closing price of the common shares on the Grant Date, and as to any subsequent vesting date, if the weighted average closing price of Company common shares for the 20 trading days prior to the vesting date is less than 70% of the weighted average closing price of the common shares on the immediately prior vesting date, then the common shares scheduled to vest on the vesting date shall not vest but shall be automatically forfeited on the stated vesting date and neither the Company nor any Affiliate shall have any further obligations to the Grantee as to any portion of the Restricted Shares forfeited. 3.3 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Agreement, unless otherwise determined by the Committee. 3.4 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in this Section 3 have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares DateShares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHAR...ES THAT VEST ON THE VESTING DATE] StockMay 18, 20233,000May 18, 20241,500May 18, 20251,500May 18, 20261,500 The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if the weighted average closing price of Company common shares for the 20 trading days prior to the first vesting date is less than 70% of the closing price of the common shares on the Grant Date, and as to any subsequent vesting date, if the weighted average closing price of Company common shares for the 20 trading days prior to the vesting date is less than 70% of the weighted average closing price of the common shares on the immediately prior vesting date, then the common shares scheduled to vest on the vesting date shall not vest but shall be automatically forfeited on the stated vesting date and neither the Company nor any Affiliate shall have any further obligations to the Grantee as to any portion of the Restricted Shares forfeited. 3.3 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Agreement, unless otherwise determined by the Committee. 1 3.4 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. 4. Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period, the Restricted Stock or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock or the rights relating thereto during the Restricted Period shall be wholly ineffective and, if any such attempt is made, the Restricted Stock will be forfeited by the Grantee and all of the Grantee's rights to such shares shall immediately terminate without any payment or consideration by the Company. View More
Restricted Period Vesting. 3.1 4.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service continuously provides services to the Company (or any subsidiary or parent of the Company) as an employee, officer, director, contractor or consultant ("Continuous Service") through the applicable vesting date, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares The Restricted Stock shall vest in a series of Common Stock [VESTING DATE] [NUMBER OR PERCENTA...GE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] eight (8) successive equal quarterly installments upon the Grantee's completion of each successive calendar quarter of Continuous Service over the two (2) year period measured from February 4, 2022. The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if 4.2 If the Grantee's Continuous Service terminates for any reason other than death, Disability, or by the Company without Cause at any time before all of his or her the Grantee's Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Unless otherwise determined 4.3 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates due to the Grantee's death, 100% of the unvested Restricted Stock shall vest as of the date of such termination. 4.4 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service is terminated by the Committee at Company or an Affiliate for Disability, 100% of the time unvested Restricted Stock shall vest as of the date of such termination. 4.5 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service is terminated by the Company or an Affiliate without Cause, 100% of the unvested Restricted Stock shall vest as of the date of such termination. 4.6 The foregoing vesting schedule notwithstanding, upon the occurrence of a Change in Control, a 100% of the unvested Restricted Stock shall vest as of the date of the Change in Control shall have no effect on the Restricted Stock. Control. View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in this Section 3 have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] 20% of the aggregate Restricted Stock [VESTING DATE] [N...UMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING 20% of the aggregate Restricted Stock [VESTING DATE] 20% of the aggregate Restricted Stock [VESTING DATE] 20% of the aggregate Restricted Stock [VESTING DATE] 20% of the aggregate Restricted Stock The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if the weighted average closing price of Company common shares for the 20 trading days prior to the first vesting date is less than 70% of the closing price of the common shares on the Grant Date, and as to any subsequent vesting date, if the weighted average closing price of Company common shares for the 20 trading days prior to the vesting date is less than 70% of the weighted average closing price of the common shares on the immediately prior vesting date, then the common shares scheduled to vest on the vesting date shall not vest but shall be automatically forfeited on the stated vesting date and neither the Company nor any Affiliate shall have any further obligations to the Grantee as to any portion of the Restricted Shares forfeited. 3.3 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Agreement, unless otherwise determined by the Committee. 3.4 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, in this Agreement, provided that the Grantee remains in Continuous has not incurred a Termination of Service through as of the applicable vesting date, date[, and further provided that any additional conditions and performance goals set forth in Schedule I (attached hereto) have been satisfied]1, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT... VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] The period over which [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] 1 NTD: Add if performance goals are applicable. 3.2 If the Grantee incurs a Termination of Service as the result of death or Disability, the Grantee will become vested in the number of shares of Restricted Stock vests is referred (rounded up to the nearest whole share) that would have become vested as of the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if anniversary of the Grant Date next following such Grantee's Continuous Service terminates for any reason at any time before all of his death or her Restricted Stock has vested, Disability. 3.3 Subject to Section 3.2, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination Termination of Continuous Service and neither the Company nor any Affiliate affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Unless otherwise determined by 3.4 The terms of the Committee at Plan will govern the time Restricted Stock Award in the event of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. Control. View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING [ANY DATE ON OR AFTER GRANT DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE [0% to 100%] [ANY DATE AFTER VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE DATE IN FIRST TRANCHE] [1 - PERCENT VESTING DATE] IN FIRS...T TRANCHE] The period over which the Restricted Stock vests is referred to as the "Restricted Period". Period." 3.2 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service Status terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service Status and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 [The foregoing vesting schedule notwithstanding, upon the occurrence of a Change of Control, 100% of the unvested Restricted Stock shall vest as of the date of the Change of Control. OR Unless otherwise determined by the Committee Administrator at the time of a Change in of Control, a Change in of Control shall have no effect on the Restricted Stock. Stock.] View More
Restricted Period Vesting. 3.1 Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in this Section 3 have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VES...T ON THE VESTING DATE] March 31, 2022 100% of the aggregate Restricted Stock The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. Agreement, unless otherwise determined by the Committee. 3.3 Unless otherwise determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Restricted Stock. View More
Restricted Period Vesting. 3.1 3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in Schedule I have been satisfied, the Restricted Stock will vest in accordance with the following schedule: Vesting Date Shares of Common Stock [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] [VESTING DATE] [NUMBER OR PERCENTAGE OF SHARES THAT VE...ST ON THE VESTING DATE] The period over which the Restricted Stock vests is referred to as the "Restricted Period". 3.2 3.2. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested, vested other than death or retirement (in the case of a Director), termination of the Grantee's Continuous Service is terminated by the Company or an Affiliate for Disability, [or upon the occurrence of a Change of Control], the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement. 3.3 Unless otherwise determined 3.3. The foregoing vesting schedule notwithstanding, in the event of the Grantee's death or if the Grantee's Continuous Service is terminated by the Committee at Company or an Affiliate for Disability, 100% of the time unvested Restricted Stock shall vest as of the date of such termination. 1 3.4. The foregoing vesting schedule notwithstanding, if the Grantee is an Outside Director, 100% of the unvested Restricted Stock shall vest on the Grantee's attainment of mandatory retirement age for members of the Board, if any. 3.5. [The foregoing vesting schedule notwithstanding, upon the occurrence of a Change in Control, a 100% of the unvested Restricted Stock shall vest as of the date of the Change in Control shall have no effect on the Restricted Stock. Control.] View More
