Vesting Based on Service Sample Clauses

Vesting Based on Service. Subject to the forfeiture provisions set forth in this Agreement based on the performance of continued service prior to the time at which a Termination has occurred, this Award will vest as to 25% of the Number of Shares on the First Vesting Date, and as to 6.25% of the Number of Shares on each April 1, July 1, October 1 and December 31 that follow the First Vesting Date (each a “Vesting Date”), until the Award is fully vested, provided you have not Terminated before the respective Vesting Dates. Notwithstanding the foregoing, Sections 1(b) through 1(d) provide certain circumstances in which you may vest in all or a portion of this Award. Any portion of this Award that does not vest, including pursuant to Sections 1(b) through 1(d), shall be cancelled and you will have no further right or claim thereunder.
Sample 1
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Vesting Based on Service. Vesting of the PSUs is conditioned upon you remaining employed by the Company or a subsidiary or affiliate of the Company during the entire Restricted Period (except as set forth in Sections 2 hereof, as applicable) or such lesser period as the Committee shall determine in its sole discretion. If, before the end of the Restricted Period, you are no longer an employee of the Company, a subsidiary or an affiliate of the Company, any PSUs that have not been vested and that cannot thereafter be vested under Sections 2 shall be canceled and forfeited.
Sample 1
Vesting Based on Service. Vesting of the MSUs is conditioned upon you remaining employed by the Company or a subsidiary or affiliate of the Company during the entire Restricted Period (except as set forth in Sections 2 hereof, as applicable) or such lesser period as the Committee shall determine in its sole discretion. If, before the end of the Restricted Period, you are no longer an employee of the Company, a subsidiary or an affiliate of the Company, any MSUs that have not been vested and that cannot thereafter be vested under Sections 2 shall be canceled and forfeited.
Sample 1
Vesting Based on Service. A Participant also will obtain a fully vested interest in a Company Performance Match Account established for a given Plan Year as of the
Sample 1
Vesting Based on Service. Except as otherwise provided in Article 6.1, Article 6.5(d), and Article 15.3, effective January 1, 2007, a Participant’s Employer Account shall become vested in accordance with the following schedule if such schedule results in a greater vested percentage than the percentage otherwise applicable at any time: The revised vesting schedule shall apply to all Employer Accounts derived from Member Employer profit sharing or matching contributions made at any time, except that the Account of a Deferred Vested Participant (as defined in Article 8.3(a)(iii)) as of January 1, 2007, remains subject to the vesting schedule that applied prior to 2007.” 1. Effective October 1, 2007, Article 6.5(b) shall be amended to read as follows:
Sample 1
Vesting Based on Service. A Participant's Profit Sharing and Top-Heavy Accounts shall become vested in accordance with the following schedule: Year of Service Vested Percentage --------------- ----------------- Less than 1 year 0% 1 year 20% 2 years 40% 3 years 60% 4 years 80% 5 years or more 100% Effective July 1, 1993, a Participant's Profit Sharing and Top-Heavy Account shall become vested in accordance with the following schedule: Period of Service Vested Percentage ----------------- ----------------- Less than 1 year 0% 1 year 20% 2 years 40% 3 years 60% 4 years 80% 5 years or more 100% Notwithstanding the foregoing a Participant's vested percentage shall be the greater of the percentage determined above, or the total of the following: (a) A number of years equal to the number of Years of Service credited to the Participant immediately prior to July 1, 1993, and (b) The Service taken into account as determined under Article 6.
Sample 1

Related to Vesting Based on Service

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Performance Vesting Within sixty (60) days following the completion of the Performance Period, the Plan Administrator shall determine the applicable number of Performance Shares in accordance with the provisions of the Award Notice and Schedule I attached thereto.

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

  • Time-Based Vesting Fifty Percent (50%) of the Executive Stock shall vest on each date set forth below (each, a "Vesting Date") as to that number of shares of the Executive Stock set forth opposite such Vesting Date: Vesting Date No. of shares of Executive Stock ------------ -------------------------------- On the first anniversary of the Effective 12.5% of the Executive Stock Date After the first anniversary of the Effective An additional 1.0417% of the Executive Stock Date through the fourth anniversary of the on the first day of each calendar month after the Effective Date first anniversary of the Effective Date until 50% of the Executive Stock is vested

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Vesting Schedule Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs.

  • Performance Schedule The Parties will perform their respective responsibilities in accordance with the Performance Schedule. By executing this Agreement, Customer authorizes Motorola to proceed with contract performance.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

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