Vesting Legally Binding Rights Contract Clauses (35)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Vesting Legally Binding Rights clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Vesting Legally Binding Rights. (a) Notwithstanding any other provision of this Agreement, the Participant shall not be entitled to any payment of Shares under this Agreement unless and until such Participant 2 obtains a legally binding right to such Shares and satisfies applicable vesting conditions for such payment. (b) Except as otherwise provided in Subparagraph 4(c) and 4(d) below, the Participant shall vest in the RSUs awarded pursuant to this Agreement upon the Participant's Separation from Service, if and only if such ...Separation from Service occurs on or after the one-year anniversary of the Effective Date. The date of the Participant's Separation from Service that occurs on or after the one-year anniversary of the Effective Date shall be referred to herein as the "Maturity Date." (c) If a Participant dies prior to the Maturity Date while a Director of the Company, the Participant shall vest in the RSUs awarded pursuant to this Agreement at the time of such death. (d) If the Participant experiences a Separation from Service prior to the final Maturity Date and within two years following a Change in Control, the Participant shall vest in all unvested Shares of Restricted Stock upon such Separation from Service. Notwithstanding the foregoing, if the Separation from Service results from an involuntary removal from the Board for cause, as determined by a vote of a majority of the Board of Directors, or a voluntary resignation, then the Participant shall not vest in unvested Shares of Restricted Stock upon such Separation from Service. View More
Found in WPX Energy contract
Vesting Legally Binding Rights. (a) Notwithstanding any other provision of this Agreement, the Participant shall not be entitled to any payment of Shares under this Agreement unless and until such Participant 2 obtains a legally binding right to such Shares and satisfies applicable vesting conditions for such payment. 2 (b) Except as otherwise provided in Subparagraph 4(c) and 4(d) below, the Participant shall vest in the RSUs awarded pursuant to this Agreement upon the Participant's Separation from Service, if and only if suc...h Separation from Service occurs on or after the one-year anniversary of the Effective Date. The date of the Participant's Separation from Service that occurs on or after the one-year anniversary of the Effective Date shall be referred to herein as the "Maturity Date." (c) If a Participant dies prior to the Maturity Date while a Director of the Company, the Participant shall vest in the RSUs awarded pursuant to this Agreement at the time of such death. (d) If the Participant experiences a Separation from Service prior to the final Maturity Date and within two years following a Change in Control, the Participant shall vest in all unvested Shares of Restricted Stock upon such Separation from Service. Notwithstanding the foregoing, if the Separation from Service results from an involuntary removal from the Board for cause, as determined by a vote of a majority of the Board of Directors, or a voluntary resignation, then the Participant shall not vest in unvested Shares of Restricted Stock upon such Separation from Service. View More
Found in WPX Energy contract
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