Restricted Stock Units Clause Example with 4 Variations from Business Contracts
This page contains Restricted Stock Units 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 Stock Units. 8.1. Grant of Restricted Stock Units. A restricted stock unit, or RSU, represents the right to receive from the Company on the respective scheduled vesting or payment date for such RSU, one share of Common Stock. An award of RSUs may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an award of RSUs is intended to qualify as perf...ormance-based compensation under Section 162(m), it must be granted subject to the attainment of performance goals as described in Section 11 and meet the additional requirements imposed by Section 162(m). 8.2. Vesting Period. At the time an award of RSUs is made, the Committee shall establish a period of time during which the RSUs shall vest (the "Vesting Period"). The Vesting Period shall be a minimum of three years with incremental vesting over the three-year period permitted (provided, however, that no portion of the award may vest prior to the first anniversary of the date of grant), with the following exceptions: (i) If the vesting of the shares of RSUs is based upon the attainment of performance goals as described in Section 11, a minimum Vesting Period of one year is allowed. (ii) No minimum Restricted Period applies to grants of RSUs under Section 5.3(iii) hereof. Each award of RSUs may have a different Vesting Period. The acceleration of the expiration of the Vesting Period shall occur: (1) as provided under Section 12.3 in the event of termination of employment under the circumstances provided in the Incentive Agreement, and (2) as described in Section 12.10 in connection with a Change of Control. 8.3. Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Agreement, as well as any procedures established by the Committee, the Committee may determine to pay dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, the Company shall establish an account for the participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock underlying each RSU. The participant shall have no rights to the amounts or other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any and all dividend equivalent rights with respect to the RSUs shall be subject to the attainment of the performance goals applicable to the underlying RSUs. 8.4. Rights as a Shareholder. Subject to the restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Agreement, each participant receiving RSUs shall have no rights as a shareholder with respect to such RSUs until such time as shares of Common Stock are issued to the participant. 8.5. Compliance with Section 409A of the Code. RSU awards shall be designed and operated in such a manner that they are either exempt from the application or comply with the requirements of Section 409A of the Code.View More
Variations of a "Restricted Stock Units" Clause from Business Contracts
Restricted Stock Units. 8.1. Grant of A Restricted Stock Units. A restricted stock unit, Unit, or RSU, represents the right to receive from the Company on the respective scheduled vesting or payment date for such RSU, one share of Common Stock. An award of RSUs may be subject to the attainment of specified performance goals or targets, 6 forfeitability provisions and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an award of RSUs is intended to quali...fy as performance-based compensation under Section 162(m), it must be granted subject to the attainment of performance goals as described in Section 11 and meet the additional requirements imposed by Section 162(m). 8.2. 9.1 Vesting Period. At the time an award of RSUs is made, the Committee shall establish establish, subject to Section 5.3(d), a period of time during which the RSUs shall vest (the "Vesting Period"). The Vesting Period shall be a minimum of three years with incremental vesting over the three-year period permitted (provided, however, that no portion of the award may vest prior to the first anniversary of the date of grant), with the following exceptions: (i) If the vesting of the shares of RSUs is based upon the attainment of performance goals as described in Section 11, a minimum Vesting Period of one year is allowed. (ii) No minimum Restricted Period applies to grants of RSUs under Section 5.3(iii) hereof. Each award of RSUs may have a different Vesting Period. The acceleration of the expiration of the Vesting Period shall occur: (1) as provided under Section 12.3 occur in the event of termination of employment under the circumstances provided in the Incentive Agreement, and (2) as described in Section 12.10 in connection with a Change of Control. 8.3. Award Agreement. 9.2 Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Award Agreement, as well as any procedures established by the Committee, the Committee may determine to pay accrue dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, RSUs and the Company shall establish an account for the participant Participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock Share underlying each RSU. The participant shall have no rights to the amounts or other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any Any and all dividend equivalent rights with respect to the RSUs shall be subject to the same vesting and forfeitability conditions, including attainment of the any performance goals goals, applicable to the underlying RSUs. 8.4. 9.3 Rights as a Shareholder. Stockholder. Subject to the restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Award Agreement, each participant Participant receiving RSUs shall have no rights as a shareholder stockholder with respect to such RSUs until such time as shares of Common Stock Shares are issued to the participant. 8.5. Compliance Participant. 10. Other Stock-Based Awards. The Committee is hereby authorized to grant to Eligible Individuals an "Other Stock-Based Award," which shall consist of an Award that is not an instrument or Award specified in Sections 6 through 9 of this Plan, the value of which is based in whole or in part on the value of Shares. Other Stock-Based Awards may be awards of Shares or may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible or exchangeable into or exercisable for Shares), as deemed by the Committee consistent with Section 409A the purposes of the Code. RSU Plan. The Committee shall determine the terms and conditions of any such Other Stock-Based Award and may provide that such awards would be payable in whole or in part in cash. 10.1 Vesting Period. At the time an award of an Other Stock-Based Award is made, the Committee shall establish, subject to Section 5.3(d), a period of time during which the Other Stock-Based Award shall vest (the "Vesting Period"). Each award of an Other Stock-Based Award may have a different Vesting Period. The acceleration of the expiration of the Vesting Period shall occur in the event of termination of employment under the circumstances provided in the Award Agreement. 10.2 Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Award Agreement, as well as any procedures established by the Committee, the Committee may determine to accrue dividend equivalent rights with respect to an Other Stock-Based Award and the Company shall establish an account for the Participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the Share underlying each such Award. Any and all dividend equivalent rights with respect to the Award shall be designed subject to the same vesting and operated in such a manner that they are either exempt from forfeitability conditions, including attainment of any performance goals, applicable to the application or comply with the requirements of Section 409A of the Code. underlying Award. View More
Restricted Stock Units. 8.1. Grant 9.1General. Subject to the provisions of the Plan, the Committee shall have sole and complete authority to determine the Eligible Individuals to whom Restricted Stock Units. A restricted stock unit, or RSU, represents Units shall be granted, the number of Shares to be covered by each Award of RSUs and the terms, conditions, and limitations applicable thereto. An Award of RSUs is a right to receive from the Company on the respective scheduled vesting or payment date for such RSU, one s...hare shares of Common Stock. An award of RSUs Stock in the future and may be subject to the attainment of specified performance goals or targets, restrictions on transfer, forfeitability provisions and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an An award of RSUs is intended may be made in lieu of the payment of cash compensation otherwise due to qualify as performance-based compensation under Section 162(m), it must be granted subject to the attainment of performance goals as described in Section 11 and meet the additional requirements imposed by Section 162(m). 8.2. an Eligible Individual. 9 9.2The Vesting Period. At the time an award of RSUs is made, the Committee shall establish establish, subject to Section 5.4(d), a period of time during which the RSUs shall vest (the "Vesting Period"). The Vesting Period shall be a minimum of three years with incremental vesting over the three-year period permitted (provided, however, that no portion of the award may vest prior to the first anniversary of the date of grant), with the following exceptions: (i) If the vesting of the shares of RSUs is based upon the attainment of performance goals as described in Section 11, a minimum Vesting Period of one year is allowed. (ii) No minimum Restricted Period applies to grants of RSUs under Section 5.3(iii) hereof. Each award of RSUs may have a different Vesting Period. The acceleration of the expiration of the Vesting Period vesting period shall occur: (1) also occur as provided under Section 12.3 in the event of Award Agreement due to a termination of employment under or service in accordance with Section 11.5 hereof. 9.3Rights as a Stockholder. Subject to the circumstances provided terms and conditions of the Plan and subject to any restrictions that may be imposed in the Incentive Award Agreement, and (2) each Participant receiving RSUs shall have no rights as described in Section 12.10 in connection a stockholder with a Change of Control. 8.3. Dividend respect to such RSUs until such time as Shares are issued to the Participant. 9.4Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Award Agreement, as well as any procedures established by the Committee, the Committee may determine to pay accrue dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, RSUs and the Company shall establish an account for the participant Participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock Share underlying each RSU. The participant shall have no rights to the amounts or other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any Any and all dividend equivalent rights with respect to the RSUs shall be subject to the same vesting and forfeitability conditions, including attainment of the any performance goals goals, applicable to the underlying RSUs. 8.4. Rights as a Shareholder. Subject to the restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Agreement, each participant receiving RSUs shall have no rights as a shareholder with respect to such RSUs until such time as shares of Common Stock are issued to the participant. 8.5. Compliance with Section 409A of the Code. RSU awards shall be designed and operated in such a manner that they are either exempt from the application or comply with the requirements of Section 409A of the Code.View More
Restricted Stock Units. 8.1. 8.1 Grant of Restricted Stock Units. A restricted stock unit, or RSU, represents the right to receive from the Company on the respective scheduled vesting or payment date for such RSU, one share of Common Stock. An award of RSUs restricted stock units may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an award of RSUs res...tricted stock units is intended to qualify as performance-based performance based compensation under Section 162(m), it must be granted subject to the attainment of performance goals as described in Section 11 12 and meet the additional requirements imposed by Section 162(m). 8.2. 8.2 Vesting Period. At the time an award of RSUs restricted stock units is made, the Committee shall establish a period of time during which the RSUs restricted stock units shall vest (the "Vesting Period"). The Each award of restricted stock units may have a different Vesting Period. Except for restricted stock units that vest based on the attainment of performance goals and except as provided in Section 5.3C., a Vesting Period shall be a minimum of at least three years is required, with incremental vesting of portions of the 7 award over the three-year period permitted (provided, however, that no portion of the award may be scheduled to vest prior to the first anniversary of the date of grant), with the following exceptions: (i) grant). If the vesting of the shares of RSUs restricted stock units is based upon the attainment of performance goals as described in Section 11, goals, a minimum Vesting Period of one year is allowed. (ii) No minimum Restricted Period applies to grants of RSUs under Section 5.3(iii) hereof. Each award of RSUs may have a different Vesting Period. The acceleration of the expiration of the Vesting Period shall occur: (1) occur as provided under Section 12.3 13.3 in the event of termination of employment under the circumstances provided in the Incentive Agreement, Agreement and (2) as described in Section 12.10 in connection with the event of a Change of Control. 8.3. Control of the Company if so provided in the Incentive Agreement. 8.3 Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Agreement, as well as any procedures established by the Committee, the Committee may determine to pay dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, the Company shall establish an account for the participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock underlying each RSU. The participant shall have no rights to the amounts or other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any and all dividend equivalent rights with respect to the RSUs shall be subject to the attainment of the performance goals applicable to the underlying RSUs. 8.4. 8.4 Rights as a Shareholder. Stockholder. Subject to the restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Agreement, each participant receiving RSUs restricted stock units shall have no rights as a shareholder stockholder with respect to such RSUs restricted stock units until such time as shares of Common Stock are issued to the participant. 8.5. Compliance with Section 409A of the Code. RSU awards shall be designed and operated in such a manner that they are either exempt from the application or comply with the requirements of Section 409A of the Code.View More
Restricted Stock Units. 8.1. 8.1 Grant of Restricted Stock Units. A restricted stock unit, or RSU, represents the right to receive from the Company on the respective scheduled vesting or payment date for such RSU, one share of Common Stock. An award of RSUs restricted stock units may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an award of RSUs res...tricted stock units is intended to qualify as performance-based compensation under Section 162(m), it must be granted subject to the attainment of performance goals as described in Section 11 and meet the additional requirements imposed by Section 162(m). 8.2. 8.2 Vesting Period. At the time an award of RSUs restricted stock units is made, the Committee shall establish a period of time during which the RSUs restricted stock units shall vest (the "Vesting Period"). The Vesting Period shall be a minimum of three years with incremental vesting over the three-year period permitted (provided, however, that no portion of the award may vest prior to the first anniversary of the date of grant), permitted, with the following exceptions: (i) (a) If the vesting of the shares of RSUs restricted stock units is based upon the attainment of performance goals as described in Section 11, a minimum Vesting Period of one year is allowed. (ii) 6 No minimum Restricted Period applies to grants of RSUs restricted stock units to non-employee directors, to grants issued in payment of cash amounts earned under the Company's annual incentive plan, or to grants under Section 5.3(iii) 5.3(c) hereof. Each award of RSUs restricted stock units may have a different Vesting Period. The acceleration of the expiration of the Vesting Period shall also occur: (1) as provided under Section 12.3 in the event of termination of employment under the circumstances provided in the Incentive Agreement, and (2) as described in Section 12.10 in connection with the event of a Change of Control. 8.3. Control of the Company. 8.3 Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Agreement, as well as any procedures established by the Committee, the Committee may determine to pay dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, the Company shall establish an account for the participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock underlying each RSU. The participant shall have no rights to the amounts or other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any and all dividend equivalent rights with respect to the RSUs shall be subject to the attainment of the performance goals applicable to the underlying RSUs. 8.4. account. 8.4 Rights as a Shareholder. Stockholder. Subject to the restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Agreement, each participant receiving RSUs restricted stock units shall have no rights as a shareholder stockholder with respect to such RSUs restricted stock units until such time as shares of Common Stock are issued to the participant. 8.5. 8.5 Compliance with Section 409A of the Code. RSU Restricted stock unit awards shall be designed and operated in such a manner that they are either exempt from the application or comply with the requirements of Section 409A of the Code. View More
