Vesting and Settlement Clause Example with 4 Variations from Business Contracts

This page contains Vesting and Settlement 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.
Vesting and Settlement. (a) The RSUs shall vest as follows, provided that the Grantee remains continuously employed by the Company through each applicable vesting date: a.One-third (1/3) of the RSUs shall vest and become exercisable on the first anniversary of the Grant Date b.One-third (1/3) of the RSUs shall vest and become exercisable on the second anniversary of the Grant Date c.One-third (1/3) of the RSUs shall vest and become exercisable on the third anniversary of the Grant Date (b) Settlement of the vested RSUs... may be in either shares of Common Stock or cash, as determined by the Committee in its discretion, and shall occur as soon as practicable following the vesting date, but in no event later than March 15 of the calendar year following the year in which the vesting date occurs (such date, the "Settlement Date"). View More Arrow
Found in OVERSEAS SHIPHOLDING GROUP INC contract

Variations of a "Vesting and Settlement" Clause from Business Contracts

Vesting and Settlement. (a) The Subject to Section 5(b) below, the RSUs shall vest as follows, set forth in this Section 5(a), provided that the Grantee remains continuously employed by the Company through each applicable vesting date: a.One-third (1/3) a.Twenty percent (20%) of the Cash Award and the RSUs shall vest and become exercisable on the first anniversary of the Grant Date b.One-third (1/3) b.Thirty percent (30%) of the Cash Award and the RSUs shall vest and become exercisable on the second anniversary of the ...Grant Date c.One-third (1/3) c.Fifty percent (50%) of the Cash Award and the RSUs shall vest and become exercisable on the third anniversary of the Grant Date (b) If the Grantee's Employment is terminated by the Company for a reason other than Cause or if the Grantee's employment terminates due to the Grantee's death or Disability, the Cash Award and the unvested RSUs shall vest and become exercisable in full as of the last date of employment, death or Disability. (c) Settlement of the vested RSUs may be in either (i) shares of Common Stock or cash, (ii) cash equal in value to the product of (A) the Fair Market Value, determined in accordance with the Plan, of a share of Common Stock on the vesting date multiplied by (B) the number of shares of Common Stock subject to the RSUs vesting on the vesting date. Determinations as determined to whether vested RSUs shall be paid in shares of Common Stock or in cash shall be made by the Committee in its discretion, and settlement shall occur as soon as practicable following the vesting date, but in no event later than March 15 of the calendar year following the year in which 60 days after the vesting date occurs (such date, the "Settlement Date"). View More Arrow
Found in OVERSEAS SHIPHOLDING GROUP INC contract
Vesting and Settlement. (a) The Subject to Section 4(b) below, the RSUs shall vest as follows, set forth in this Section 4(a), provided that the Grantee remains continuously employed by the Company through each applicable vesting date: a.One-third (1/3) of the RSUs shall vest and become exercisable on the first anniversary of the Grant Date b.One-third (1/3) of the RSUs shall vest and become exercisable on the second anniversary of the Grant Date c.One-third (1/3) of the RSUs shall vest and become exercisable on the th...ird anniversary of the Grant Date (b) If the Grantee's Employment is terminated by the Company for a reason other than Cause or if the Grantee's employment terminates due to the Grantee's death or Disability, the RSUs shall vest and become exercisable in full as of the last date of employment, death or Disability. (c) Settlement of the vested RSUs may be in either (i) shares of Common Stock or cash, (ii) cash equal in value to the product of (A) the Fair Market Value, determined in accordance with the Plan, of a share of Common Stock on the vesting date multiplied by (B) the number of shares of Common Stock subject to the RSUs vesting on the vesting date. Determinations as determined to whether vested RSUs shall be paid in shares of Common Stock or in cash shall be made by the Committee in its discretion, and settlement shall occur as soon as practicable following the vesting date, but in no event later than March 15 of the calendar year following the year in which 60 days after the vesting date occurs (such date, the "Settlement Date"). View More Arrow
Found in OVERSEAS SHIPHOLDING GROUP INC contract
Vesting and Settlement. (a) The RSUs shall vest as follows, provided that the Grantee remains continuously employed by the Company through each applicable vesting date: a.One-third (1/3) a. [One-third (1/3)]1 of the RSUs shall vest and become exercisable on the first anniversary of the Grant Vesting Commencement Date b.One-third (1/3) b. [One-third (1/3)] of the RSUs shall vest and become exercisable on the second anniversary of the Grant Vesting Commencement Date c.One-third (1/3) c. [One-third (1/3)] of the RSUs shal...l vest and become exercisable on the third anniversary of the Grant Vesting Commencement Date (b) Settlement of the vested RSUs may be in either shares of Common Stock or cash, as determined by the Committee in its discretion, and shall occur as soon as practicable following the vesting date, but in no event later than March 15 of the calendar year following the year in which the vesting date occurs (such date, the "Settlement Date"). 1 Assumes three-year vesting period – modify as needed if period differs. View More Arrow
Found in International Seaways, Inc. contract
Vesting and Settlement. (a) The Subject to Section 4(b) below, the RSUs shall vest as follows, set forth in this Section 4(a), provided that the Grantee remains continuously employed by the Company through each applicable vesting date: a.One-third a. One-third (1/3) of the RSUs shall vest and become exercisable on the first anniversary of the Grant Date b.One-third b. One-third (1/3) of the RSUs shall vest and become exercisable on the second anniversary of the Grant Date c.One-third c. One-third (1/3) of the RSUs shal...l vest and become exercisable on the third anniversary of the Grant Date (b) If the Grantee's Employment is terminated by the Company for a reason other than Cause or if the Grantee's employment terminates due to the Grantee's death or Disability, the RSUs shall vest and become exercisable in full as of the last date of employment, death or Disability. (c) Settlement of the vested RSUs may be in either shares of Common Stock or cash, as determined by the Committee in its discretion, and shall occur as soon as practicable following the vesting date, but in no event later than March 15 of the calendar year following the year in which 60 days after the vesting date occurs (such date, the "Settlement Date"). View More Arrow
Found in OVERSEAS SHIPHOLDING GROUP INC contract