Vesting of Units Clause Example from Business Contracts

Vesting of Units. For purposes of this Agreement, "Vesting Date" means any date, including the Scheduled Vesting Date specified on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 4. Notwithstanding the vesting and subsequent settlement of this Award, the Award and any Share issuances or payments made hereunder shall remain subject to the provisions of Section 16(i) of the Plan. (a)Scheduled Vesting. If you remain a Service Provider continuously from the ...Grant Date specified on the cover page of this Agreement, then the Units will vest on the Scheduled Vesting Date. (b)Accelerated Vesting. The vesting of outstanding Units will be accelerated under the circumstances provided below: (1)Death or Disability. If your Service terminates prior to the Scheduled Vesting Date due to your death or Disability, then all of the unvested Units shall vest as of such termination date. (2)Change in Control. If a Change in Control occurs while your Service continues and prior to the Scheduled Vesting Date, then all of the unvested Units shall vest as of the date of the consummation of such Change in Control. View More