Vesting Clause Example with 8 Variations from Business Contracts
This page contains Vesting 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. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during the Restriction Period, all unvested RSUs you held at the time of such... termination will vest in full at the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you age sixty-five (65). "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs will automatically and immediately vest in full upon a Change in Control. 2013 RSU (c) Forfeiture of Unvested RSUs. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, any RSUs you held will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. (d) Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies.View More
Variations of a "Vesting" Clause from Business Contracts
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs Phantom Shares will vest ratably in three (3) equal annual increments commencing on the first (1st) anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates by reason of Death, death, Disability or Retirement during the Restriction Period, al...l the unvested RSUs you held at the time of such termination Phantom Shares subject to this Award will vest in full at the date of such termination. Payment of amounts due pursuant to this Section 2(b)(1) shall be distributed as provided in Section 3. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach age sixty-five (65). 65. "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). 1 (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs will automatically and immediately vest in full upon event of a Change in Control. 2013 RSU Control, unvested Phantom Shares will be treated in accordance with Section 9 of the Plan. (c) Forfeiture of Unvested RSUs. Phantom Shares. Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates for any reason other than Death, death, Disability or Retirement during the Restriction Period, any RSUs you held all then unvested Phantom Shares subject to this Award will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs Phantom Shares shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. (d) Repayment. Participant agrees You agree and acknowledges acknowledge that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will the Option shall vest ratably with respect to the underlying shares of Stock in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) (i) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during th...e Restriction Period, Restricted Period (as defined in Section 7(c) hereof), all unvested RSUs Options you held at the time of such termination will vest in full at on the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach (i) age fifty-five (55), so long as you shall also have completed at least ten (10) years of continuous service immediately prior to your retirement, or (ii) age sixty-five (65). (65); "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) Code); and "Service" shall be defined as your active, continuous full-time employment with the Company. (ii) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) 2(b)(i) above, your RSUs Options will automatically and immediately vest in full upon a Change in Control. 2013 RSU Control if this Award is not assumed or continued by the surviving or acquiring corporation in such Change in Control (as determined by the Board or Committee, with appropriate adjustments to the number and kind of shares, in each case, that preserve the value of the Options and other material terms and conditions of this Award as in effect immediately prior to the Change in Control). (c) Forfeiture of Unvested RSUs. Options. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, Restricted Period (as defined in Section 7(c) hereof), any RSUs you held unvested Options will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs unexercised Options shall in all events be immediately forfeited and canceled cancelled as of the date of your termination of Service for Cause as defined in Section 3(b) 4 below. (d) Repayment. Participant agrees You agree and acknowledges acknowledge that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" or set-off policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs Phantom Shares will vest ratably in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during the Restriction Period, all unvested RSUs Phantom Share...s you held at the time of such termination will vest in full at the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach age sixty-five (65). "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). 2013 Phantom Shares (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs Phantom Shares will automatically and immediately vest in full upon a Change in Control. 2013 RSU (c) Forfeiture of Unvested RSUs. Phantom Shares. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, any RSUs Phantom Shares you held will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs Phantom Shares shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. (d) Repayment. Participant agrees and acknowledges acknow-ledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs Phantom Shares will vest ratably in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during the Restriction Period, all unvested RS...Us Phantom Shares you held at the time of such termination will vest in full at the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach age sixty-five (65). "Disability" 1 shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs Phantom Shares will automatically and immediately vest be treated in full accordance with Section 9 of the Plan upon a Change in Control. 2013 RSU (c) Forfeiture of Unvested RSUs. Phantom Shares. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, any RSUs Phantom Shares you held will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs Phantom Shares shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. (d) Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first (1st) anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates by reason of Death, death, Disability or Retirement during the Restriction Period, all then unvested... RSUs you held at the time of such termination subject to this Award will vest in full at the date of such termination. The Shares issuable pursuant to such vesting shall be distributed as provided in Section 3. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you age sixty-five (65). 65. "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs will automatically and immediately vest in full upon event of a Change in Control. 2013 RSU Control, unvested RSUs will be treated in accordance with Section 9 of the Plan. 1 (c) Forfeiture of Unvested RSUs. Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates for any reason other than Death, death, Disability or Retirement during the Restriction Period, any all then unvested RSUs you held subject to this Award will be forfeited and canceled as of the date of such termination of Service. Service and you will have no further rights to such RSUs or the Shares represented by those forfeited RSUs. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. below and you will have no further rights to such unvested RSUs or the Shares represented by those forfeited RSUs. (d) Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) (i) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during the Restriction Period, Restricted Period (as defined in Section 7...(c) hereof), all unvested RSUs you held at the time of such termination will vest in full at on the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach (1) age fifty-five (55), so long as you shall also have completed at least ten (10) years of continuous service immediately prior to your retirement, or (2) age sixty-five (65). (65); "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) Code); and "Service" shall be defined as your active, continuous full-time employment with the Company. (ii) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) 2(b)(i) above, your RSUs will automatically and immediately vest in full upon a Change in Control. 2013 RSU Control if this Award is not assumed or continued by the surviving or acquiring corporation in such Change in Control (as determined by the Board or Committee, with appropriate adjustments to the number and kind of shares, in each case, that preserve the value of the RSUs and other material terms and conditions of this Award as in effect immediately prior to the Change in Control). (c) Forfeiture of Unvested RSUs. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, Restricted Period (as defined in Section 7(c) hereof), any RSUs you held will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. (d) Repayment. Participant agrees You agree and acknowledges acknowledge that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" or set-off policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will the Option shall vest ratably with respect to the underlying shares of Stock in three (3) equal annual increments commencing on the first anniversary of the Date of Grant. (b) Accelerated Vesting. (1) (i) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during th...e Restriction Period, all unvested RSUs Options you held at the time of such termination will vest in full at on the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach (i) age fifty-five (55), so long as you shall also have completed at least ten (10) years of continuous service immediately prior to your retirement, or (ii) age sixty-five (65). (65), and "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) (ii) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) 2(b)(i) above, your RSUs Options will automatically and immediately vest in full upon a Change in Control. 2013 RSU (c) Forfeiture of Unvested RSUs. Options. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, period, any RSUs unvested Options you held will be forfeited and canceled as of the date of such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs unexercised Options shall in all events be immediately forfeited and canceled cancelled as of the date of your termination of Service for Cause as defined in Section 3(b) 4 below. (d) Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
Vesting. (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first (1st) anniversary of the Date of Grant. (b) Accelerated Vesting. (1) Unless otherwise determined by the Committee, or except as provided in an another written agreement between you and your Employer, if your Service terminates by reason of Death, Disability or Retirement during the Restriction Period, all unvested RSUs you he...ld at the time of such termination will vest in full at the date of such termination. For purposes of this Agreement, "Retirement" shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you age sixty-five (65). "Disability" shall be defined as your permanent and total disability (within the meaning of Section 22(e)(3) of the Code). (2) In addition to the vesting provisions contained in Sections 2(a) and 2(b)(1) above, your RSUs will automatically and immediately vest be treated in full accordance with Section 9 of the Plan upon a Change in Control. 2013 RSU 1 (c) Forfeiture of Unvested RSUs. Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, any RSUs you held will be forfeited and canceled as of the date of such termination of Service. Service and you will have no further rights to such RSUs or the Shares represented by those forfeited RSUs. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause as defined in Section 3(b) below. below and you will have no further rights to such unvested RSUs or the Shares represented by those forfeited RSUs. (d) Repayment. Participant agrees and acknowledges that this Award Agreement is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including "clawback" policies. View More
