Vesting Clause Example with 6 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) Subject to the terms of this Section 3, the Stock Units shall become vested according to the vesting schedule set forth in the notice from the Equity Plan recordkeeper, provided that the Participant continues to be employed by, or provide service to, the Employer from the Date of Grant until the applicable Vesting Date. (b) The vesting of the Stock Units shall be cumulative, but shall not exceed 100% of the Stock Units. If the foregoing schedule would produce fractional Stock Units, the numb...er of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. Notwithstanding Section 3(a) above, upon the Participant's termination of employment or service from the Employer on account of the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination by the Employer without Cause, the Participant shall be treated for vesting purposes as though the Participant remained employed or providing service to the Employer through the next subsequent Vesting Date following Participant's termination, meaning the Participant shall vest in the Stock Units that would have otherwise become vested as of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan.View More
Variations of a "Vesting" Clause from Business Contracts
Vesting. (a) Subject to the terms of this Section 3, the The Stock Units shall become vested according to the vesting following schedule set forth in the notice from the Equity Plan recordkeeper, (each, a "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, to the Employer Company from the Date of Grant until the applicable Vesting Date. (b) The vesting of the Date: Vesting Date Vested Stock Units shall be cumulative, but shall not exceed 100% of the Stock Un...its. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. Notwithstanding Section 3(a) above, upon the Participant's termination of employment or service from the Employer on account of the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination by the Employer without Cause, the Participant shall be treated for vesting purposes as though the Participant remained employed or providing service to the Employer through the next subsequent Vesting Date following Participant's termination, meaning the Participant shall vest in the Stock Units that would have otherwise become vested as of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in (b) In the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of Section 13 of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan. Units. View More
Vesting. (a) Subject to the terms of this Section 3, the The Stock Units shall become vested according with respect to 100% of the vesting schedule set forth in Stock Units on the notice from first anniversary of the Equity Plan recordkeeper, Date of Grant (the "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, to the Employer Company from the Date of Grant until the applicable Vesting Date. (b) The vesting of the Stock Units shall be cumulative, but shall ...not exceed 100% of the Stock Units. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. Notwithstanding Section 3(a) above, upon the Participant's termination of employment or service from the Employer on account of the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination by the Employer without Cause, the Participant shall be treated for vesting purposes as though the Participant remained employed or providing service to the Employer through the next subsequent Vesting Date following Participant's termination, meaning the Participant shall vest in the Stock Units that would have otherwise become vested as of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in In the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan. View More
Vesting. (a) Subject to the terms of this Section 3, the The Stock Units shall become vested according to the vesting following schedule set forth in the notice from the Equity Plan recordkeeper, (each, a "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, the Employer from the Date of Grant until the applicable Vesting Date. Date: Vesting Date Vested Stock Units (b) The vesting of the Stock Units shall be cumulative, but shall not exceed 100% of the Stock U...nits. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. Notwithstanding Section 3(a) above, upon the Participant's termination of employment or service from the Employer on account of the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination by the Employer without Cause, the Participant shall be treated for vesting purposes as though the Participant remained employed or providing service to the Employer through the next subsequent Vesting Date following Participant's termination, meaning the Participant shall vest in the Stock Units that would have otherwise become vested as of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in In the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of Section 13 of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan. Units. View More
Vesting. (a) Subject to the terms of this Section 3, the The Stock Units shall become vested according to the vesting following schedule set forth in the notice from the Equity Plan recordkeeper, (each, a "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, the Employer from the Date of Grant until the applicable Vesting Date. Date: Vesting Date Vested Stock Units (b) The vesting of the Stock Units shall be cumulative, but shall not exceed 100% of the Stock U...nits. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. Notwithstanding Section 3(a) above, upon the Participant's termination of employment or service from the Employer on account of the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination by the Employer without Cause, the Participant shall be treated for vesting purposes as though the Participant remained employed or providing service to the Employer through the next subsequent Vesting Date following Participant's termination, meaning the Participant shall vest in the Stock Units that would have otherwise become vested as of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in In the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in Units. Notwithstanding the event foregoing, if the Participant continues to provide services to the Company from the Date of a Grant until the date of the Change of Control, the Committee may take such actions with respect to the vesting 100% of the any then-unvested Stock Units as it deems appropriate pursuant shall become vested immediately prior to the Plan. such Change of Control. View More
Vesting. (a) Subject to the terms of this Section 3, the Stock Units shall become vested according to the vesting following schedule set forth in the notice from the Equity Plan recordkeeper, (each, a "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, the Employer from the Date of Grant until the applicable Vesting Date. Date: Vesting Date Number of Vested Stock Units (b) The vesting of the Stock Units shall be cumulative, but shall not exceed 100% of the S...tock Units. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. (c) Notwithstanding Section 3(a) above, the Stock Units shall vest on a pro-rated basis upon the Participant's termination of employment or service from the Employer on account of Retirement (as defined below) provided such vesting does not result in violation of any age discrimination or other applicable law. For purposes of this Section 3(c), the term "Retirement" shall mean termination of employment or service with the Employer (other than for Cause (as defined in the Plan)) attained after the Participant has age (minimum 55) plus years of service with the Company and its subsidiaries (minimum 10 years of service) equal or exceeding 70. For purposes of determining the age and service requirement under this Section 3(c), the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination age shall be determined by the Employer without Cause, Participant's most recent birthday, and the Participant Participant's and years of service shall be treated for determined by the number of years measured following the Effective Date until the Participant's most recent employment anniversary with the Company and its subsidiaries. For purposes of this Section 3(c), vesting purposes as though on a pro-rated basis shall be calculated by multiplying the Participant remained employed or providing service number of Stock Units set forth under Section 1 by a fraction, the numerator of which is the number of days from the Date of Grant to the Employer through date of the next subsequent Vesting Date following Participant's termination, meaning Retirement, and the Participant shall vest in the Stock Units that would have otherwise become vested as denominator of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) which is [1,095]. (d) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan. View More
Vesting. (a) Subject to the terms of this Section 3, the Stock Units shall become vested according to the vesting following schedule set forth in the notice from the Equity Plan recordkeeper, (each, a "Vesting Date"), provided that the Participant continues to be employed by, or provide service to, the Employer from the Date of Grant until the applicable Vesting Date. Date: Vesting Date Number of Vested Stock Units (b) The vesting of the Stock Units shall be cumulative, but shall not exceed 100% of the S...tock Units. If the foregoing schedule would produce fractional Stock Units, the number of Stock Units that vest shall be rounded down to the nearest whole Stock Unit and the fractional Stock Units will be accumulated so that the resulting whole Stock Units will be included in the number of Stock Units that become vested on the last Vesting Date. (c) Notwithstanding Section 3(a) above, the Stock Units shall vest on a pro-rated basis upon the Participant's termination of employment or service from the Employer on account of Retirement (as defined below). For purposes of this Section 3(c), the term "Retirement" shall mean termination of employment or service with the Employer (other than for Cause (as defined in the Plan)) after the Participant has attained age (minimum 55) plus years of service with the Company and its subsidiaries (minimum 10 years of service) equal or exceeding 70. For purposes of determining the age and service requirement under this Section 3(c), the Participant's (i) Disability, (ii) Retirement, (iii) death, or (iv) termination age shall be determined by the Employer without Cause, Participant's most recent birthday, and the Participant Participant's years of service shall be treated for determined by the number of years measured following the Effective Date until the Participant's most recent employment anniversary with the Company and its subsidiaries. For purposes of this Section 3(c), vesting purposes as though on a pro-rated basis shall be calculated by multiplying the Participant remained employed or providing service number of Stock Units set forth under Section 1 by a fraction, the numerator of which is the number of days from the Date of Grant to the Employer through date of the next subsequent Vesting Date following Participant's termination, meaning Retirement, and the Participant shall vest in the Stock Units that would have otherwise become vested as denominator of such next subsequent Vesting Date provided, however, the Company has the right to reduce or change the amount depending on the facts and circumstances. (c) which is [1,095]. (d) Except as otherwise provided in a written employment agreement or severance agreement entered into by and between the Participant and the Employer, in the event of a Change of Control before all of the Stock Units vest in accordance with Section 3(a) above, the provisions of the Plan applicable to a Change of Control shall apply to the Stock Units, and, in the event of a Change of Control, the Committee may take such actions with respect to the vesting of the Stock Units as it deems appropriate pursuant to the Plan. View More
