Vesting Requirements. The vesting of this Award (other than pursuant to accelerated vesting in certain circumstances as provided in Section 3 below or vesting pursuant to Section 6 below) shall be subject to the satisfaction of the conditions set forth in each of subsections A and B, as applicable, and, in each case, subsection C of this Section 2:
Vesting Requirements. Subject to the “Forfeiture of RSUs” paragraph below, RSUs do not provide you with any rights or interest therein until they become vested under one or more of the following circumstances (each such date a “Vesting Date”): • in one-third (1/3) increments on the first, second and third anniversaries of the Date of Xxxxx provided you are still employed on the applicable anniversary; • 25% of the then-remaining outstanding RSUs (a) on your being or becoming retirement eligible or (b) if you are not then retirement eligible, your employment is involuntarily terminated by reason of a reduction in force, on or after the first anniversary and prior to the second anniversary of the Date of Xxxxx; • 50% of the then-remaining outstanding RSUs (a) on your being or becoming retirement eligible or (b) if you are not then retirement eligible, if your employment is involuntarily terminated by reason of a reduction in force, on or after the second anniversary and prior to the third anniversary of the Date of Xxxxx; • 100% of the then-remaining outstanding RSUs on the earliest to occur prior to the third anniversary of the Date of Grant of: (a) the date of termination of your employment from B&W due to death, (b) your disability (as defined in the Plan) or (c) the date a change in control (as defined in the Plan) occurs; and • the Committee may provide for additional vesting under other circumstances, in its sole discretion. For purposes of this Agreement, (a) “retirement eligible” means at least 60 years of age with 10 or more years of service with B&W and (b) a “reduction in force” means a termination of employment due to elimination of a previously required position or previously required services, or due to the consolidation of departments, abandonment of plants or offices, technological change or declining business activities, where such termination is intended to be permanent; or under other circumstances which the Committee, in accordance with standards uniformly applied with respect to all similarly situated employees, designates as a reduction in force. For the sole purpose of calculating the number of RSUs that vest in one-third increments, any RSUs that vest as a result of your being “retirement eligible” will be treated as an acceleration of the RSUs that are otherwise scheduled to vest in connection with the next one-third increment. Forfeiture of RSUs. RSUs which are not and do not become vested upon your termination of employment shall, coincident therewith, ...
Vesting Requirements. The Shares subject to the Award shall initially be unvested and shall vest only in accordance with the vesting provisions of this Paragraph 3 or the special vesting acceleration provisions of Paragraph 5. The actual number of Shares in which Participant shall vest under this Paragraph 3 shall be determined as follows:
Vesting Requirements. A Teacher shall be fully vested in the retirement benefits described in this Section if the retiring Teacher has satisfied the following requirements: The Teacher has at least fifteen (15) years of employment in the Corporation as a Teacher as defined in this Agreement, and is at least fifty-five (55) years of age as of December 31 during the calendar year in which he/she retires.
Vesting Requirements. An employee’s 401(a) and VEBA accounts shall be vested upon the earlier of the signing of the Teacher’s sixth (6th) consecutive contract or the beginning of the Teacher’s sixth (6th) consecutive year of teaching.
Vesting Requirements. The actual number of Shares that may vest and become issuable pursuant to the Performance Shares shall be determined pursuant to a two-step process: (i) first there shall be calculated the maximum number of Shares in which Participant can vest based upon the level at which the Performance Goal specified on Schedule I to the Award Notice is actually attained as modified by the TSR Modifier and (ii) then the number of the Performance-Qualified Shares resulting from the clause (i) calculation in which Participant shall actually vest shall be determined on the basis of his or her completion of the applicable Service vesting provisions set forth below. Accordingly, the vesting of the Shares shall be calculated as follows:
Vesting Requirements. The Share Units shall become fully vested on the third anniversary of the date hereof (the “Vesting Date”), subject to the Participant’s continued employment with the Company or any of its subsidiaries through the Vesting Date.
Vesting Requirements. The Shares subject to the Award shall initially be unvested and shall vest only in accordance with the vesting provisions of this Paragraph 2 or the special vesting acceleration provisions of Paragraph 4. The Shares in which Participant shall vest under this Paragraph 2 shall be determined pursuant to a two-step process: (i) first there shall be calculated the maximum number of Shares in which Participant can vest based upon the level at which the Performance Goals specified in Appendix A of this Agreement (the “Performance Goals”) for the performance period commencing on January 1, 2012 and ending on December 31, 2012 (the “Performance Period”) are actually attained and (ii) then the number of the Actual Performance Shares resulting from the clause (i) calculation in which Participant shall actually vest shall be determined on the basis of Participant’s completion of the applicable service vesting provisions set forth below. Accordingly, the vesting of the Shares shall be calculated as follows:
Vesting Requirements. B.1 An Award becomes vested only upon satisfaction of both the service-based vesting requirements and the risk performance-based vesting requirements set forth below. SERVICE-BASED VESTING REQUIREMENTS The Award is divided into three approximately equal portions that will satisfy the service-based vesting requirements ratably over three years (each portion, a “Tranche”) on three “Scheduled Vesting Dates”, as follows: • the service-based vesting requirement for the first Tranche will be satisfied on the 1st anniversary of the Grant Date, • the service-based vesting requirement for the second Tranche will be satisfied on the 2nd anniversary of the Grant Date, and • the service-based vesting requirement for the third Tranche will be satisfied on the 3rd anniversary of the Grant Date; in each case, provided you remain continuously employed by PNC through and including the applicable Scheduled Vesting Date (or such earlier date as prescribed by Section B.2 below).
Vesting Requirements. Any contributions made by the Board to the 401(a), 403(b) or 457 Plan on behalf of teachers shall be subject to a vesting schedule. A teacher shall be fully vested in the retirement benefits described in this Article IV if the teacher has satisfied the following requirements:
