Vesting Schedule Clause Example from Business Contracts

Vesting Schedule. Except as otherwise provided in this Agreement, the PSUs awarded by this Agreement are scheduled to vest in accordance with the vesting schedule set forth in the Notice of Grant. PSUs scheduled to vest on a particular date actually will vest only if the Grantee remains in Continued Service through such date. Should the Grantee's Continued Service end at any time (the "Termination Date"), any unvested PSUs will be immediately cancelled; provided, however, that if termination of Continued Service ...results from the Grantee's death, Disability or Retirement, then any unvested PSUs that would have vested by their terms within twelve (12) months from the Termination Date will be deemed vested on the Termination Date; and provided further, however, that in the case of PSUs as to which the Performance Adjustment referred to in the Notice of Grant has not been made at the Termination Date, the PSUs that will be deemed vested on the Termination Date pursuant to this paragraph 4 shall be determined, and shall vest, when such Performance Adjustment has occurred. View More