Grouped Into 6 Collections of Similar Clauses From Business Contracts
This page contains Vesting of Shares clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Vesting of Shares. (a) The Shares shall vest on the respective Vesting Dates set forth below, provided that the Grantee continues to serve as an employee, director or consultant of the Company as of the applicable Vesting Date (or sooner as provided for in paragraph (c) hereof): (i) Five Thousand Seven Hundred Thirty-One (5,731) of the Shares on the first anniversary of the date hereof (the "First Vesting Date"); (ii) Five Thousand Seven Hundred Thirty (5,730) of the Shares on the second anniversary of the date he...reof (the "Second Vesting Date"); and (iii) Five Thousand Seven Hundred Thirty (5,730) of the Shares on December 31, 2022 (the "Third Vesting Date"); each of the First Vesting Date, the Second Vesting Date and the Third Vesting Date is referred to hereinafter as a "Vesting Date". (b) In the event that the Grantee does not continue to serve as an employee, director or consultant of the Company as of a particular Vesting Date as a result of the termination of the Grantee's employment for Cause or the Grantee's resignation (other than for Good Reason), the Grantee shall not be entitled to receive any of the Shares issuable on such Vesting Date or thereafter, and this Agreement shall terminate and be of no further force or effect. (c) In the event that, prior to a particular Vesting Date (i) the Grantee's employment with the Company is terminated other than for Cause, (ii) the Grantee's employment with the Company is terminated as a result of the Grantee having become Disabled, (iii) the Grantee dies while an employee of the Company, or (iv) the Grantee resigns his employment with the Company for Good Reason, the Shares that were scheduled to vest on such Vesting Date and thereafter shall instead vest on the date of termination of employment, the date of death or the date of resignation of employment, as the case may be (the "Termination Date"). (d) In the event that Shares vest on a Vesting Date or the Termination Date, as the case may be, the certificate representing the portion of the Shares then vested shall be issued by the Company as soon as reasonably practicable thereafter. (e) The number of Shares issuable to the Grantee is subject to adjustment for any stock splits, reverse stock splits and other recapitalizations that take effect prior to a particular Vesting Date or the Termination Date, as the case may be.View More
Vesting of Shares. (a) The Shares shall vest on the respective Vesting Dates set forth below, provided that the Grantee continues to serve as an employee, director or consultant of the Company as of the applicable Vesting Date (or sooner as provided for in paragraph (c) hereof): (i) Five Fifty-Two Thousand Seven Four Hundred Thirty-One (5,731) Seventy-Seven (52,477) of the Shares on the first anniversary of the date hereof (the "First Vesting Date"); (ii) Five Fifty-Two Thousand Seven Four Hundred Thirty (5,730) S...eventy-Seven (52,477) of the Shares on the second anniversary of the date hereof (the "Second Vesting Date"); and (iii) Five Fifty-Two Thousand Seven Four Hundred Thirty (5,730) Seventy-Seven (52,477) of the Shares on December 31, 2022 (the "Third Vesting Date"); each of the First Vesting Date, the Second Vesting Date and the Third Vesting Date is referred to hereinafter as a "Vesting Date". (b) In the event that the Grantee does not continue to serve as an employee, director or consultant of the Company as of a particular Vesting Date as a result of the termination of the Grantee's employment for Cause or the Grantee's resignation (other than for Good Reason), the Grantee shall not be entitled to receive any of the Shares issuable on such Vesting Date or thereafter, and this Agreement shall terminate and be of no further force or effect. (c) In the event that, prior to a particular Vesting Date (i) the Grantee's employment with the Company is terminated other than for Cause, (ii) the Grantee's employment with the Company is terminated as a result of the Grantee having become Disabled, (iii) the Grantee dies while an employee of the Company, or (iv) the Grantee resigns his employment with the Company for Good Reason, the Shares that were scheduled to vest on such Vesting Date and thereafter shall instead vest on the date of termination of employment, the date of death or the date of resignation of employment, as the case may be (the "Termination Date"). (d) In the event that Shares vest on a Vesting Date or the Termination Date, as the case may be, the certificate representing the portion of the Shares then vested shall be issued by the Company as soon as reasonably practicable thereafter. (e) The number of Shares issuable to the Grantee is subject to adjustment for any stock splits, reverse stock splits and other recapitalizations that take effect prior to a particular Vesting Date or the Termination Date, as the case may be. View More
Vesting of Shares. The Shares acquired hereunder shall vest, subject to the terms of this Agreement, in accordance with the provisions of this Paragraph 7 and Sections 7 and 9(G) of the Plan. The Company's Board of Directors (the "Board") or Compensation Committee (the "Committee") will determine the vesting dates at the time of grant (each such date, a "Vesting Date"), as set forth on Schedule A hereto. Notwithstanding the foregoing, no Shares shall vest on any Vesting Date if the Participant terminates Continuou...s Service, as defined in the Plan, prior to such Vesting Date. In the event of a Covered Transaction, as defined in the Plan, the administrator of the Plan (the "Administrator") may require that any amounts delivered, exchanged or otherwise paid in respect of outstanding and then unvested Shares be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. References in this Agreement to the Shares shall refer, mutatis mutandis, to any such restricted amounts.View More
Vesting of Shares. The Shares With respect to an Initial Grant or a Periodic Grant, as defined in the Plan, as the case may be, the shares acquired hereunder shall vest, subject to the terms of this Agreement, in accordance with the provisions of this Paragraph 7 and Sections 7 and 9(G) Section 6 of the Plan. The Company's Board of Directors (the "Board") or Compensation Committee (the "Committee") will determine the vesting dates at the time of grant (each such date, a "Vesting Date"), as set forth on Schedule A ...hereto. Notwithstanding the foregoing, no Shares shares shall vest on any Vesting Date if vesting date specified above unless the Participant terminates Continuous Service, as defined in is then, and since the Plan, prior to such Vesting Date. date of grant has continuously been, a Non-employee Director of the Company. In the event of a Covered Transaction, as defined in the Plan, the administrator of the Plan (the "Administrator") may require that any amounts delivered, exchanged or otherwise paid in respect of outstanding and then unvested Shares be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. References in this Agreement to the Shares shall refer, mutatis mutandis, to any such restricted amounts. View More
Vesting of Shares. Subject to the restrictions set forth herein and in the Plan, the Shares shall vest: ___% on ________, 20_____% on ______, 20__ ___% on ________, 20_____% on ______, 20__ 7. Voting. Unless the Committee shall determine otherwise, the Participant shall be entitled to exercise any voting rights with respect to the Shares and receive any dividends paid with respect thereto.
Vesting of Shares. Subject (a) Except as provided in Section 3(b) and Section 4, the Shares subject to this Award shall vest and become fully transferable without restriction according to the restrictions set forth herein and following schedule: (i) ______ of the Shares subject to this Award shall vest _______, _______. (ii) An additional _________ of the Shares subject to this Award shall vest on _______, _______. (iii) An additional _______ of the Shares subject to this Award shall vest on __________, _______. (...iv) An additional ______ of the Shares subject to this Award will vest on _________, ____. (b) Notwithstanding the foregoing or anything in the Plan, Plan to the contrary, in the event of (1) a Change in Control, or (2) the Disability or death of the Non-Employee Director while serving as a director of the Company, the Shares shall vest: ___% automatically and immediately vest, all restrictions on ________, 20_____% on ______, 20__ ___% on ________, 20_____% on ______, 20__ 7. Voting. Unless the Committee shall determine otherwise, the Participant shall be entitled to exercise any voting rights with respect to the Shares shall lapse and receive the Company shall deliver to Non-Employee Director a certificate representing the Shares; provided, however, in no event may the vesting of any dividends paid with respect thereto. Shares held by a Non-Employee Director be accelerated until such time as the vesting would not violate Section 16(b). View More
Vesting of Shares. The Shares acquired hereunder shall vest during the Grantee's continuous tenure as a Non-Employee Director of the Company in accordance with the provisions of this Section 4 and applicable provisions of the Plan, as follows: Except as otherwise provided in this Section 4, the Award shall vest in full on the one year anniversary of the Grant Date, provided that Grantee's tenure as a Non-Employee Director remains continuous through such date. The period of time during which any of the Shares subje...ct to the Award shall be unvested shall be referred to herein as the "Restriction Period." Notwithstanding the above, 100% of a Grantee's outstanding and unvested Shares shall vest immediately upon a Change in Control. Notwithstanding the foregoing (but subject to any contrary provision of this Agreement or any other written agreement between the Company and the Grantee with respect to vesting and termination of Stock granted under the Plan), no Shares shall vest on any date specified above unless the Grantee's tenure as a Non-Employee Director of the Company is then, and since the Grant Date has been, continuous.View More
Vesting of Shares. The Shares acquired hereunder shall vest during the Grantee's continuous tenure as a Non-Employee Director of Employment by the Company or its subsidiaries in accordance with the provisions of this Section 4 6 and applicable provisions of the Plan, as follows: Except as otherwise provided in this Section 4, 6, the Award shall vest in full one-third (1/3) increments on each of the one year anniversary first, second and third anniversaries of the Grant Date, Date (rounded down to the nearest whole... Share on the first anniversary, rounded up to the nearest whole Share on the second anniversary, and rounded up or down on the third anniversary as necessary to provide for the vesting of the balance of the unvested Shares), provided that the Grantee's tenure as a Non-Employee Director Employment remains continuous through such date. The period of time during which any of the Shares subject to the Award shall be unvested shall be referred to herein as the "Restriction Period." Notwithstanding the above, 100% of a Grantee's outstanding and unvested Shares shall vest immediately upon a Change in Control. Notwithstanding the foregoing (but subject to any contrary provision of this Agreement or any other written agreement between the Company and the Grantee with respect to vesting and termination of Stock granted under the Plan), no Shares shall vest on any date specified above unless the Grantee's tenure as a Non-Employee Director of the Company Employment is then, and since the Grant Date has been, continuous. View More
Vesting of Shares. Each MIP Share, Incentive Share, Class B Share or Option awarded under the Plan shall become vested as follows: A. Vesting. Each MIP Share, Incentive Share, Class B Share or Option shall either be fully vested on the date of award or shall become vested thereafter in such amounts and under such circumstances as the Committee shall determine and as shall be specified in the Award Letter. The Committee shall determine any maximum vesting period. B. Full Vesting of Installments. Once a MIP Share, I...ncentive Share, Class B Share or Option becomes vested pursuant to the terms of the relevant Award Letter it shall remain vested unless otherwise specified by the Committee and set forth in the Award Letter, subject to any right the Company may have to repurchase such vested MIP Share, Incentive Share, Class B Share or Option if the Participant's Business Relationship (as defined below) is terminated. C. Acceleration or Waiver of Vesting. The Committee shall have the right to accelerate the date that any MIP Share, Incentive Share or Option becomes vested or waive vesting requirements, in whole or in part, in any Award Letter for any reason or for no reason in the sole discretion of the Committee.View More
Vesting of Shares. Each MIP Share, Incentive Share, Class B Share Shares or Option awarded under the Plan shall become vested as follows: A. Vesting. Each MIP Share, Incentive Share, Class B Share or Option shall either be fully vested on the date of award or shall become vested thereafter in such amounts and under such circumstances as the Committee shall determine and as shall be specified in the Award Letter. The Committee shall determine any maximum vesting period. B. Full Vesting of Installments. Once a MIP S...hare, an Incentive Share, Class B Share or Option becomes vested pursuant to the terms of the relevant Award Letter it shall remain vested unless otherwise 2 specified by the Committee and set forth in the Award Letter, subject to any right the Company may have to repurchase such vested MIP Share, Incentive Share, Class B Ordinary Share or Option if the Participant's Business Relationship (as defined below) is terminated. C. Acceleration or Waiver of Vesting. The Committee shall have the right to accelerate the date that any MIP Share, Incentive Share or Option becomes vested or waive vesting requirements, in whole or in part, in any Award Letter for any reason or for no reason in the sole discretion of the Committee. View More
Vesting of Shares. (a) Vesting Schedule. Subject to all of the provisions of this Section 6 and to any applicable provisions of the Plan (including, without limitation, (x) the provisions of Sections 7.2(g), 7.2(i), 7.2(j), 11.1 and 14.3 of the Plan to the extent applicable to the Shares and (y) the acceleration provisions, if any, set forth in the Plan to the extent applicable to the Shares), the Shares shall vest in monthly installments on the first calendar day of each month following until such Shares have bec...ome vested in full. For purposes of implementing the provisions of this Section 6(a), all Shares regardless of when they become subject to the Option or when purchased by the Optionee upon exercise of the Option shall be deemed to have become subject to the Option and purchased by the Optionee on the Grant Date as if the Optionee had exercised the Option for all of the Shares on the Grant Date. (b) Vesting Following Termination or Resignation. Except if, and to the extent otherwise expressly provided in the Plan, (i) upon Termination of the Optionee by the Company with Cause or resignation by the Optionee without Good Reason, none of the Shares that are still subject to vesting pursuant to Section 6(a) above as of the effective date of such Termination or resignation shall thereafter vest. (c) Vesting Following a Change of Control. In the event that (i) a Change of Control occurs during the Optionee's employment and (ii) the Optionee's employment is terminated by the Company (or its successor) without Cause or by the Optionee voluntarily for Good Reason, at any time during the 12 month period following such Change of Control, then, without further action by the Company (or its successor) or the Board, the vesting of all Unvested Shares shall accelerate and all such Unvested Shares shall become Vested Shares as of the date of such Termination or resignation. (d) Delivery of Vested Shares. Vested Shares that are issued and outstanding shall, at the request of the Optionee, be released from the escrow provided for in Section 8 hereof and shall be delivered to the Optionee. Vested Shares that are issued and outstanding shall continue to be subject to applicable restrictions set forth in any other agreements to which the Optionee is a party. (e) Escrow of Unvested Shares. All Unvested Shares that are issued and outstanding shall be held in escrow pursuant to Section 8 below.View More
Vesting of Shares. (a) Vesting Schedule. Subject to all of the provisions of this Section 6 and to any applicable provisions of the Plan (including, without limitation, (x) the provisions of Sections 7.2(g), 7.2(i), 7.2(j), 11.1 and 14.3 of the Plan to the extent applicable to the Shares and (y) the acceleration provisions, if any, set forth in the Plan to the extent applicable to the Shares), the Shares shall vest in monthly installments on the first calendar day of each month following until such Shares have bec...ome vested in full. For purposes of implementing the provisions of this Section 6(a), all Shares regardless of when they become subject to the Option or when purchased by the Optionee upon exercise of the Option shall be deemed to have become subject to the Option and purchased by the Optionee on the Grant Date as if the Optionee had exercised the Option for all of the Shares on the Grant Date. (b) No Further Vesting Following Termination or Resignation. Termination. Except if, if and to the extent otherwise expressly provided in the Plan, (i) upon Termination for any reason or for no reason, regardless of the Optionee whether such Termination is effected by the Company with Cause or voluntary resignation by the Optionee without Good Reason, Optionee, by the Company, by virtue of the Optionee's death, or otherwise, none of the Shares that are still subject to vesting pursuant to Section 6(a) above as of the effective date of such Termination or resignation shall thereafter vest. (c) Vesting Following a Change of Control. In the event that (i) a Change of Control occurs during the Optionee's employment and (ii) the Optionee's employment is terminated by the Company (or its successor) without Cause or by the Optionee voluntarily for Good Reason, at any time during the 12 month period following such Change of Control, then, without further action by the Company (or its successor) or the Board, the vesting of all Unvested Shares shall accelerate and all such Unvested Shares shall become Vested Shares as of the date of such Termination or resignation. (d) Delivery of Vested Shares. Vested Shares that are issued and outstanding shall, at the request of the Optionee, be released from the escrow provided for in Section 8 hereof and shall be delivered to the Optionee. Vested Shares that are issued and outstanding shall continue to be subject to applicable restrictions set forth in any other agreements to which the Optionee is a party. (e) (d) Escrow of Unvested Shares. All Unvested Shares that are issued and outstanding shall be held in escrow pursuant to Section 8 below. View More
