Vesting of Account. The Member shall be fully vested in his Deferrals and earnings credited to his Accounts.
Vesting of Account. The Market Value of Mr. Klappa's Account shall vest on July 1, 2003 (the "Vesxxxx Xxxx"), provided Mr. Klappa is then an employee of the Company, Southern, xx xx xxxxxxxxx xx subsidiary of Southern.
Vesting of Account. (a) Subject to Section 3.6(b), if the Executive incurs a Separation from Service prior to the completion of 10 years of service from the Effective Date of the Plan, the Executive’s rights with respect to the Annual Contributions and Discretionary Contributions (and earnings thereon) shall be forfeited and the Executive shall have no right to the Annual Contributions and Discretionary Contributions (and earnings thereon). If the Executive incurs a Separation from Service after the completion of 10 years of service from the Effective Date, the Executive’s rights with respect to the Annual Contributions and Discretionary Contributions (and earnings thereon) shall become one-hundred percent (100%) vested.
Vesting of Account. Except to the extent otherwise provided in ------------------ Paragraphs 2(e) and 2(f), the initial balance shall vest in full on the second anniversary from the date of this Agreement, and all additional amounts credited to the Account ("Additional Amounts") shall vest in full pursuant to the attached vesting schedule.
Vesting of Account. (a) Each Participant shall be fully vested at all times in the sub-account to which his Salary Deferrals, Award Deferrals and transferred Pension Restoration Account are credited.
Vesting of Account. You will be vested in your rights to payment of the Account at the same time or times, and to the same extent, as you are vested in your rights under the Stock Option except for modifying the last year’s vesting from October 31, 2007 to September 29, 2007 to coincide with the end of the Company’s fiscal year. If at any time you forfeit any portion or all of the Stock Option, or if the Stock Option or any portion thereof terminates or expires without being exercised, in each case prior to payment of your Account under (d) below, you will simultaneously therewith forfeit the corresponding percentage of the Account.
Vesting of Account. 4.2 Vesting in Event of Retirement, Disability, or Death.
Vesting of Account. A Participant’s Account shall be 0% vested until a Participant has completed five (5) Vesting Years of Service at which time he or she shall be 100% vested.
Vesting of Account. At the end of the Performance Period, the portion, if any, of the Account that shall become vested and nonforfeitable shall be based on the extent to which the Company’s cumulative EBITDA for the Performance Period is greater than, less than or equal to the cumulative EBITDA levels set forth below (if the Company’s cumulative EBITDA falls between two of the specified amounts set forth below, then the percentage of the Account to be vested shall be calculated in a linear fashion): Cumulative EBITDA (US Dollars) % of Account Vested *** 100 % *** 75 % *** 50 % *** 25 % *** 0 % Notwithstanding the foregoing, if during the Performance Period the Company violates any material covenant under any major loan agreement or similar instrument or document to which the Company is a party, which violation is not cured by an amendment or waiver by the parties thereto, then the Committee may, in its sole discretion, reduce the percentage of the Account to be vested, if any, by up to 50%. “***” indicates where text has been omitted pursuant to a request for confidential treatment. The omitted text has been filed separately with the Securities and Exchange Commission.
Vesting of Account. Xx. Xxxxxx will, at all times on and after the Effective Date, be fully vested in and have a non-forfeitable right to the balance of the Account to be paid in accordance with the terms of this Agreement.
