Vesting Schedule Clause Example from Business Contracts

Vesting Schedule. Subject to the special vesting rules set forth in Sections 7, 14 and 15, the Stock Units shall vest in accordance with the Vesting Schedule specified in the Award Agreement to the extent that the Employee is continuously employed by the Company or its Subsidiaries until the dates specified in the Vesting Schedule and has not terminated employment on or before such dates. An Employee will not be treated as remaining in continuous employment if the Employee's employer ceases to be a Subsidiary of ...the Company. The Employee shall not receive shares relating to the Employee's Stock Units when the Stock Units vest. Rather, as set forth in Section 5 below, the shares related to vested Stock Units will generally be delivered, less applicable withholdings, as soon as administratively practicable after the earliest of the Employee's termination of employment, a Change in Control (to the extent provided in Section 14) or the Stock Unit Expiration Date. View More