Vesting of Shares Clause Example with 6 Variations from Business Contracts
This page contains Vesting of Shares 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 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
Variations of a "Vesting of Shares" Clause from Business Contracts
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 employee of the Company and KICO as of the applicable Vesting Date (or sooner as provided for in (subject to paragraph (c) hereof): (i) Five Thousand Seven Hundred Thirty-One (5,731) eleven thousand nine hundred five (11,905) of the Shares on the first anniversary of the date hereof (the "First Vesting Date"); (ii) Five Thousand Seven Hund...red Thirty (5,730) eleven thousand nine hundred five (11,905) of the Shares on the second anniversary of the date hereof (the "Second Vesting Date"); and (iii) Five Thousand Seven Hundred Thirty (5,730) eleven thousand nine hundred five (11,905) of the Shares on December 31, 2022 the third anniversary of the date hereof (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". Date"). (b) In the event that the Grantee does not continue to serve as an employee, director or consultant employee of the Company or KICO 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 Voluntary Resignation (as hereinafter defined) (except in connection with a Change of Control, as provided for Good Reason), in paragraph (c) hereof), the Grantee shall not be entitled to receive any of the Shares issuable on such Vesting Date or thereafter, Date, and this Agreement shall terminate and be of no further force or effect. For the purposes hereof, the term "Voluntary Resignation" shall mean the Grantee's resignation of employment (except following a request by the Company that he resign other than based upon Cause). 1 (c) In the event that, prior to a particular Vesting Date that (i) the Grantee's employment with the Company and KICO is terminated other than for Cause, Cause (whether prior to or following a Change of Control), (ii) the Grantee's employment with the Company and KICO is terminated as a result of the Grantee having become Disabled, (iii) the Grantee dies while an employee of the Company, Company and KICO, (iv) the Company does not offer the Grantee the position of Chief Executive Officer by December 31, 2018 (and Cause does not exist) or (iv) (v) the Grantee resigns his employment with the Company for Good Reason, and KICO (A) other than pursuant to a Voluntary Resignation or (B) within six (6) months following a Change of Control, 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, December 31, 2018, 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 employee of the Company and KICO as of the applicable Vesting Date (or sooner as provided for in (subject to paragraph (c) hereof): (i) Five Thousand Seven Hundred Thirty-One (5,731) fourteen thousand seventy-seven (14,077) of the Shares on the first anniversary of the date hereof (the "First Vesting Date"); (ii) Five Thousand Seven Hundre...d Thirty (5,730) fourteen thousand seventy-seven (14,077) of the Shares on the second anniversary of the date hereof (the "Second Vesting Date"); and (iii) Five Thousand Seven Hundred Thirty (5,730) fourteen thousand seventy-six (14,076) of the Shares on December 31, 2022 the third anniversary of the date hereof (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". Date"). (b) In the event that the Grantee does not continue to serve as an employee, director or consultant employee of the Company or KICO 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 Voluntary Resignation (as hereinafter defined) (except in connection with a Change of Control, death, disability or retirement as provided for Good Reason), below, the Grantee shall not be entitled to receive any of the Shares issuable on such Vesting Date or thereafter, Date, and this Agreement shall terminate and be of no further force or effect. For the purposes hereof, the term "Voluntary Resignation" shall mean the Grantee's resignation of employment (except following a request by the Company that he resign other than based upon Cause). (c) In the event that, prior to a particular Vesting Date that (i) the Grantee's employment with the Company and KICO is terminated other than for Cause, Cause (whether prior to or following a Change of Control), (ii) the Grantee's employment with the Company and KICO is terminated as a result of the Grantee having become Disabled, (iii) the Grantee dies while an employee of the Company, Company and KICO, or (iv) the Grantee resigns his employment with the Company for Good Reason, and KICO (A) other than pursuant to a Voluntary Resignation or (B) within six (6) months following a Change of Control, 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, December 31, 2021, as the case may be (the "Termination Date"). (d) In the event of the termination of the Grantee's employment as the result of Retirement, the Company shall have no obligation to award the stock grants scheduled in Exhibit A of Grantee's Employment Agreement in respect of the remaining years in the Term or any other period, if any; and all stock grants previously granted to Grantee by the time of Grantee's termination of employment will continue to vest according to their original schedule as if the Grantee were still employed by the Company. For purposes of this agreement, "Retirement" shall mean any event whereby the Grantee conveys his intent to retire to the Board in writing at least six months prior to his expected termination date or on such other date that is mutually agreed between the Grantee and the Board, and Grantee covenants at or preceding the time of his termination (including through the execution of documentation prepared by the Company for this sole purpose at such time) that he shall not accept any operating executive role with another property and casualty insurance company for a period of three years following his separation from the Company. (e) 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) (f) 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, December 31, 2022 (the "Vesting Date") 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) hereof), subject to the provisions of the Shares on Plan. (b) Subject to the first anniversary provisions 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 hereof (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 Plan, in the event that the Grantee does not continue to serve as an employee, director or consultant of the Company as of a particular the 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 the Vesting Date or thereafter, Date, and this Agreement shall terminate and be of no further force or effect. (c) In the event that, prior to a particular the 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 the 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 the 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 the Vesting Date or the Termination Date, as the case may be. 1 4. INCORPORATION BY REFERENCE. The terms and conditions of the Plan are hereby incorporated by reference and made a part hereof. 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 employee of the Company or a subsidiary thereof as of the applicable Vesting Date (or sooner as provided for in paragraph (c) hereof): hereof), subject to the provisions of the Plan: (i) Five Thousand Seven Hundred Thirty-One (5,731) fifty thousand five hundred fifty-six (50,556) of the Shares on the first anniversary of the date hereof (t...he "First Vesting Date"); and (ii) Five Thousand Seven Hundred Thirty (5,730) of the Shares on the second anniversary of the date hereof (the "Second Vesting Date"); and (iii) Five Thousand Seven Hundred Thirty (5,730) fifty thousand five hundred fifty-five (50,555) of the Shares on December 31, 2022 2024 (the "Third "Second Vesting Date"); each of the First Vesting Date, the Second Vesting Date and the Third Second Vesting Date is referred to hereinafter as a "Vesting Date". (b) In Subject to the provisions of the Plan, in the event that the Grantee does not continue to serve as an employee, director or consultant employee of the Company or a subsidiary thereof 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. 1 (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, Cause or (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 her 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 employment 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 employee of the Company or a subsidiary thereof as of the applicable Vesting Date (or sooner as provided for in paragraph (c) hereof): hereof), subject to the provisions of the Plan: (i) Five Thousand Seven Hundred Thirty-One (5,731) ten thousand (10,000) of the Shares on the first anniversary of the date hereof (the "First Vesting Date");... (ii) Five Thousand Seven Hundred Thirty (5,730) ten thousand (10,000) of the Shares on the second anniversary of the date hereof (the "Second Vesting Date"); and (iii) Five Thousand Seven Hundred Thirty (5,730) ten thousand (10,000) of the Shares on December 31, 2022 the third anniversary of the date hereof (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 Subject to the provisions of the Plan, in the event that the Grantee does not continue to serve as an employee, director or consultant employee of the Company or a subsidiary thereof 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. 1 (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, Cause or (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 her 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 employment 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
