Vesting; Forfeiture. Except as otherwise provided in this Agreement, the RSUs awarded to a Participant shall vest on the date of the Company’s next annual meeting of stockholders after the date hereof (or the date that is at 50 weeks after the immediately preceding year’s annual meeting, if later) (the “Vesting Date”). If Participant ceases to be a director prior to the Vesting Date, the director shall forfeit the RSUs awarded under this Agreement unless # the Participant dies (in which case the RSUs shall immediately vest), or # the Governance Committee of the Board of Directors in its sole discretion decides to vest in whole or in part the RSUs awarded to the Participant. If the Participant is removed as a director at any time for cause in accordance with the Company’s bylaws, the director shall forfeit the RSUs awarded under this Agreement. An acceleration of vesting shall accelerate the Vesting Date and the payment date accordingly (subject to any applicable deferral election described in [Section 6]).
Vesting. Subject to the provisions of [Section 2] below, each RSU Award granted hereunder shall vest with respect to one-third of the RSUs awarded to a Participant shall vest(disregarding fractional RSUs) on the dateMay 15 of each of the Company’s next annual meeting of stockholders afterthree consecutive calendar years following the date hereof (oryear in which such Award is granted; provided, however, that if an Award is granted between the date that is at 50 weeks afterAnnual Meeting and December 31 pursuant to [Section 1(b)(i)], the immediately preceding year’s annual meeting, if later) (the “Vesting Date”). If Participant ceases to be a director prior to the Vesting Date, the directorfirst vesting shall forfeit the RSUs awarded under this Agreement unless # the Participant dies (in which case the RSUs shall immediately vest), or # the Governance Committeeoccur on May 15 of the Board of Directorssecond calendar year following the year in its sole discretion decides towhich such Award is granted. Shares issued upon vesting will be registered in the Eligible Director’s name in book-entry form. RSUs that do not vest in whole or in part the RSUs awarded to the Participant. If the Participant is removed as a director at any time for cause in accordance with the Company’s bylaws, the director shall forfeit the RSUs awarded under this Agreement. An acceleration of vesting shall accelerate the Vesting Date and the payment date accordingly (subject to any applicable deferral election described in [Section 6]).into Shares will be forfeited.
Annual RSUs. Each award of Annual RSUs awarded to a Participant shall vest on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company’s next annual meeting of stockholders occurring after the date hereof (or the date that is at 50 weeks after the immediately preceding year’s annual meeting, if later) (the “Vesting Date”). If Participant ceases to be a director priorof grant, in either case, subject to the Vesting Date, the director shall forfeit the RSUs awarded under this Agreement unless # the Participant dies (in which case the RSUs shall immediately vest), or # the Governance Committee of the Board of DirectorsNon-Employee Director continuing in its sole discretion decides to vest in whole or in part the RSUs awarded to the Participant. If the Participant is removedservice as a director at any time for cause in accordance with the Company’s bylaws, the director shall forfeit the RSUs awarded under this Agreement. An acceleration ofNon-Employee Director through such vesting shall accelerate the Vesting Date and the payment date accordingly (subject to any applicable deferral election described in [Section 6]).date.
Vesting. The Award shall vest in full on the dateone-year anniversary of the Company’s next annual meetingGrant Date; provided that you have not incurred a Termination of stockholders after the date hereof (or the date that is at 50 weeks after the immediately preceding year’s annual meeting, if later) (the “Vesting Date”). If Participant ceases to be a directorDirectorship (as defined below) prior to the Vesting Date,such vesting date. Notwithstanding the directorforegoing, the Award shall forfeit the RSUs awarded under this Agreement unlessbecome fully vested prior to your Termination of Directorship upon # the Participant dies (in which case the RSUs shall immediately vest),your death or # a Change in Control. Each applicable date that an RSU becomes vested shall be referred to herein as the Governance Committee of the Board of Directors in its sole discretion decides to vest in whole or in part the RSUs awarded to the Participant. If the Participant is removed as a director at any time for cause in accordance with the Company’s bylaws, the director shall forfeit the RSUs awarded under this Agreement. An acceleration of vesting shall accelerate the Vesting Date and the payment date accordingly (subject to any applicable deferral election described in [Section 6])“Vesting Date”.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.