Vesting Clause Example with 5 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) Vesting – General. Subject to the Participant's continued Employment with the Partnership and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent of the Deferred Units granted hereunder shall vest on (the "First Vesting Date"); an additional 30% of the Deferred Units granted hereunder shall vest on (the "Second Vesting Date"); and the remaining 50% of the Deferred Units granted hereunder shall vest on __________ (the "Third Vesting Date"). (b) ...Vesting – Qualifying Events. (i) Death, Disability or Involuntary Termination. Upon the occurrence of a Qualifying Event on account of the death, Disability or Involuntary Termination of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Retirement. Upon the occurrence of a Qualifying Event on account of the Retirement of the Participant, (I) 50% of the then unvested Deferred Units shall vest upon the date of such event, and (II) all other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. (c) Vesting –Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination.View More
Variations of a "Vesting" Clause from Business Contracts
Vesting. (a) Vesting – — General. Subject to the Participant's continued Employment with the Partnership and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent % of the Deferred Units granted hereunder shall vest on (the "First each Vesting Date"); an additional 30% Date; provided that of the Deferred Units granted hereunder otherwise scheduled to vest on the first Vesting Date shall vest instead % on (the "Second Vesting Date"); December 31, 2016 and the ...remaining 50% % on December 31, 2017 (each such date being an additional "Vesting Date" for purposes of the Deferred Units granted hereunder shall vest on __________ (the "Third Vesting Date"). this Award Agreement). (b) Vesting – — Qualifying Events. (i) Death, Disability Death or Involuntary Termination. Disability. Upon the occurrence of a Qualifying Event on account of the death, Disability death or Involuntary Termination of the Participant, Disability, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Retirement. Involuntary Termination. Upon the occurrence of a Qualifying Event on account of the Retirement Involuntary Termination of the Participant, (I) 50% Participant prior to the fifth anniversary of the then Date of Grant, the unvested Deferred Units shall continue to vest upon in accordance with the date vesting schedule as described in Section 3(a) hereof as if the Participant remained employed through the fifth anniversary of such event, and (II) all the Date of Grant. All other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. (c) Vesting –Terminations. — Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested (or is not eligible to become vested) pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination. View More
Vesting. (a) Vesting – General. Subject to the Participant's continued Employment with the Partnership Company and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent % of the Deferred Units granted hereunder shall vest on the first anniversary of the Vesting Reference Date (the "First Vesting Date"); an additional 30% % of the Deferred Units granted hereunder shall vest on the second anniversary of the Vesting Reference Date (the "Second Vesting Date"); an...d the remaining 50% an additional % of the Deferred Units granted hereunder shall vest on __________ the third anniversary of the Vesting Reference Date (the "Third Vesting Date"); an additional % of the Deferred Units granted hereunder shall vest on the fourth anniversary of the Vesting Reference Date (the "Fourth Vesting Date"); and the remaining % of the Deferred Units granted hereunder shall vest on the fifth anniversary of the Vesting Reference Date (the "Fifth Vesting Date"). (b) Vesting – Qualifying Events. (i) Death, Disability Death or Involuntary Termination. Disability. Upon the occurrence of a Qualifying Event on account of the death, death or Disability or Involuntary Termination of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Retirement. Upon the occurrence of a Qualifying Event on account of the Retirement of the Participant, (I) 50% of the then unvested Deferred Units shall remain eligible to vest upon each of the date of such event, following scheduled Vesting Dates, and (II) all other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. event; provided that if, following the Participant's Retirement, the Participant breaches any applicable provision of the Non-Competition, Non-Solicitation and Confidentiality Agreement to which the Participant is a party or otherwise engages in any Competitive Activity, the Participant's Deferred Units which remain undelivered as of the date of such violation or engagement in Competitive Activity, as determined by the Administrator in its sole discretion, will be forfeited without payment. As a pre-condition to a Participant's right to continued vesting and delivery of the Deferred Units following Retirement, the Administrator may require the Participant to certify in writing prior to each scheduled Vesting Date that the Participant has not breached any applicable provisions of the Participant's Non-Competition, Non-Solicitation and Confidentiality Agreement or otherwise engaged in any Competitive Activity. 3 (c) Vesting –Terminations. – Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership Company and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination. View More
Vesting. (a) Vesting – General. Subject to the Participant's continued Employment with the Partnership and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent of the Deferred Units granted hereunder shall vest on the anniversary of the Vesting Reference Date (the "First Vesting Date"); an additional 30% of the Deferred Units granted hereunder shall vest on the anniversary of the Vesting Reference Date (the "Second Vesting Date"); and the remaining 50% of th...e Deferred Units granted hereunder shall vest on __________ the anniversary of the Vesting Reference Date (the "Third Vesting Date"). (b) Vesting – Qualifying Events. (i) Death, Disability Death or Involuntary Termination. Disability. Upon the occurrence of a Qualifying Event on account of the death, death or Disability or Involuntary Termination of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Retirement. Upon the occurrence of a Qualifying Event on account of the Retirement of the Participant, (I) 50% of the then unvested Deferred Units shall remain eligible to vest upon each of the date of such event, following scheduled Vesting Dates, and (II) all other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. event; provided that if, following the Participant's Retirement, the Participant breaches any applicable provision of the Non-Competition, Non-Solicitation and Confidentiality Agreement to which the Participant is a party or otherwise engages in any Competitive Activity, the Participant's Deferred Units which remain undelivered as of the date of such violation or engagement in Competitive Activity, as determined by the Administrator in its sole discretion, will be forfeited without payment. As a pre-condition to a Participant's right to continued vesting and delivery of the Deferred Units following Retirement, the Administrator may require the Participant to certify in writing prior to each scheduled Vesting Date that the Participant has not breached any applicable provisions of the Participant's Non-Competition, Non-Solicitation and Confidentiality Agreement or otherwise engaged in any Competitive Activity. (c) Vesting –Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination. View More
Vesting. (a) Vesting – General. Subject to the Participant's continued Employment with the Partnership Company and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent % of the Deferred Units granted hereunder shall vest on the first anniversary of the Vesting Reference Date (the "First Vesting Date"); an additional 30% % of the Deferred Units granted hereunder shall vest on the second anniversary of the Vesting Reference Date (the "Second Vesting Date"); an...d the remaining 50% an additional % of the Deferred Units granted hereunder shall vest on __________ the third anniversary of the Vesting Reference Date (the "Third Vesting Date"); an additional % of the Deferred Units granted hereunder shall vest on the fourth anniversary of the Vesting Reference Date (the "Fourth Vesting Date"); and the remaining % of the Deferred Units granted hereunder shall vest on the fifth anniversary of the Vesting Reference Date (the "Fifth Vesting Date"). (b) Vesting – Qualifying Events. (i) Death, Death or Disability. Upon the occurrence of a Qualifying Event on account of the death or Disability or of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Involuntary Termination. Upon the occurrence of a Qualifying Event on account of the death, Disability or Involuntary Termination of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) (iii) Retirement. Upon the occurrence of a Qualifying Event on account of the Retirement of the Participant, (I) 50% of the then unvested Deferred Units shall remain eligible to vest upon each of the date of such event, following scheduled Vesting Dates, and (II) all other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. event; provided that if, following the Participant's Retirement, the Participant breaches any 3 applicable provision of the Non-Competition, Non-Solicitation and Confidentiality Agreement to which the Participant is a party or otherwise engages in any Competitive Activity, the Participant's Deferred Units which remain undelivered as of the date of such violation or engagement in Competitive Activity, as determined by the Administrator in its sole discretion, will be forfeited without payment. As a pre-condition to a Participant's right to continued vesting and delivery of the Deferred Units following Retirement, the Administrator may require the Participant to certify in writing prior to each scheduled Vesting Date that the Participant has not breached any applicable provisions of the Participant's Non-Competition, Non-Solicitation and Confidentiality Agreement or otherwise engaged in any Competitive Activity. (c) Vesting –Terminations. – Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership Company and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination. View More
Vesting. (a) Vesting – General. Subject to the Participant's continued Employment with the Partnership Company and its Affiliates, the Award shall vest on the applicable Vesting Dates as follows: (i) Twenty percent of the Deferred Units granted hereunder shall vest on the third anniversary of the Vesting Reference Date (the "First Vesting Date"); an additional 30% % of the Deferred Units granted hereunder shall vest on the fourth anniversary of the Vesting Reference Date (the "Second Vesting Date"); and ...the remaining 50% % of the Deferred Units granted hereunder shall vest on __________ the fifth anniversary of the Vesting Reference Date (the "Third Vesting Date"). (b) Vesting – Qualifying Events. (i) Death, Disability Death or Involuntary Termination. Disability. Upon the occurrence of a Qualifying Event on account of the death, death or Disability or Involuntary Termination of the Participant, 100% of the Deferred Units granted hereunder shall vest (to the extent not previously vested) upon the date of such event. (ii) Involuntary Termination. Upon the occurrence of a Qualifying Event on account of the Involuntary Termination of the Participant, 100% of the Deferred Units grants hereunder shall vest (to the extent not previously vested) upon the date of such event. (iii) Retirement. Upon the occurrence of a Qualifying Event on account of the Retirement of the Participant, (I) 50% of the then unvested Deferred Units shall remain eligible to vest upon each of the date of such event, following scheduled Vesting Dates, and (II) all other unvested Deferred Units shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such unvested Deferred Units upon the date of such event. event; provided that if, following the Participant's Retirement, the Participant breaches any applicable provision of the Non-Competition, Non-Solicitation and Confidentiality Agreement to which the Participant is a party or otherwise engages in any Competitive Activity, the Participant's Deferred Units which remain undelivered as of the date of such violation or engagement in Competitive Activity, as determined by the Administrator in its sole discretion, will be forfeited without payment. As a pre-condition to a Participant's right to continued vesting and delivery of the Deferred Units following Retirement, the Administrator may require the Participant to certify in writing prior to each scheduled Vesting Date that the Participant has not breached any applicable provisions of the Participant's Non-Competition, Non-Solicitation and Confidentiality Agreement or otherwise engaged in any Competitive Activity. 3 (c) Vesting –Terminations. – Terminations. Except as otherwise set forth in Section 3(b), in the event the Participant's Employment with the Partnership Company and its Affiliates is terminated for any reason, the portion of the Award that has not yet vested pursuant to Section 3(a) or 3(b) hereof (or otherwise pursuant to the Plan) shall be cancelled immediately and the Participant shall automatically forfeit all rights with respect to such portion of the Award as of the date of such termination. View More
