Vested Interests Sample Clauses
The "Vested Interests" clause defines when and how certain rights or benefits become irrevocable and fully owned by a party, typically an employee or beneficiary. In practice, this clause outlines the schedule or conditions under which entitlements such as stock options, retirement benefits, or other incentives become non-forfeitable, regardless of future events like termination of employment. Its core function is to provide certainty and protection for parties by clarifying when interests are secured, thereby preventing disputes over ownership or entitlement to benefits.
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Vested Interests. If any amendment directly or indirectly affects the computation of the nonforfeitable percentage of an Employee’s rights to Employer-derived benefits, or if the Plan is deemed amended by an automatic change to or from a Top Heavy vesting schedule, any Participant who has completed three (3) or more Years of Service with the Employer may, upon request to the Plan Administrator within sixty (60) days after the later of: (i) the date the Plan amendment is adopted, (ii) the date the Plan amendment becomes effective, or (iii) the date the Participant is notified of the Plan amendment by the Employer or Plan Administrator, elect to have his nonforfeitable percentage computed without regard to such amendment. No amendment shall have the effect of decreasing a Participant’s vested interest determined without regard to such amendment as of the later of the date such amendment is adopted or the date it becomes effective.
Vested Interests. 7.1 401(k) ACCOUNT AND ROLLOVER CONTRIBUTION ACCOUNT VESTING. The amounts credited to a Participant's 401(k) Account and Rollover Contribution Account shall be fully vested and nonforfeitable at all times.
Vested Interests. If any amendment directly or indirectly affects the computation of the nonforfeitable percentage of an Employee’s rights to Employer-derived benefits, or if the Plan is deemed amended by an automatic change to or from a Top Heavy vesting schedule, any Participant who has completed three or more Years of Service with the Employer may, upon written request to the Plan Administrator within 60 days after receipt of notice of such amendment, elect to have his or her nonforfeitable percentage computed without regard to such amendment. No amendment shall have the effect of decreasing a Participant’s vested interest determined without regard to such amendment as of the later of the date such amendment is adopted or the date it becomes effective.
Vested Interests.
6.1 ROK Tokens purchased during the ICO do not include any vesting period. The ROK Tokens purchased during the ICO may be sold and transferred by the User at any time after the end date of the ICO.
6.2 ROK Tokens acquired by early investors, advisors and the founder before the ICO include a vesting period of 15 days after the end of the ICO during which those tokens cannot be sold or transferred.
6.3 ROK Tokens acquired by the team are allocated globally using a uniform scheme for all employees, based on the duration of their work in the Rockchain project, their results on defined objectives, and their salary. This allocation scheme will last at least 3 years. This global incentivisation scheme will be made public after the ICO.
6.4 The Proceeds from the sale of token is used by Lambda Vision to cover the costs of the development of the Rockchain project by paying the cost of operations, infrastructure, development, administration, salaries or fees and other cost necessary to deliver all editions of Rockchain as described in the Rockchain White Paper.
Vested Interests. The term “Vested Interests” shall mean, with respect to Executive’s Interests granted hereunder, the number of such Interests that are vested and nonforfeitable, as determined in accordance with Schedule I-B attached hereto.
Vested Interests. A Participant's interest in his or her Elective Deferral Account, Voluntary Account, Matching Account, Rollover Account, and that portion of his or her Profit Sharing Account attributable to profit sharing contributions made prior to 1994 shall be 100% vested at all times.
Vested Interests