Restricted Period Vesting Clause Example from Business Contracts

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 [ANY DATE ON OR AFTER GRANT DATE] [0% to 100%] [ANY DATE AFTER VESTING DATE IN FIRST TRANCHE] [1 - PERCENT VESTING IN FIRST TRANCHE] The period over which the Restricted Stock vests is referred to as the "Restricted Period." 3.2 The foregoing vesting sched...ule 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 Administrator at the time of a Change of Control, a Change of Control shall have no effect on the Restricted Stock.] View More