VESTING OF PARTICIPANT'S INTEREST Sample Clauses

VESTING OF PARTICIPANT'S INTEREST. (Plan Section 6.4(b)) The vesting schedule, based on a Participant's Years of Service is:
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VESTING OF PARTICIPANT'S INTEREST. Subject to the limitations set forth in Article VIII of the Plan, if the employment of any Participant is terminated for any cause other than Death, Disability or Normal Retirement. the Participant shall have a nonforfeitable, vested right to his Accrued Benefit derived from Employer Matching Contributions and Employer Nonelective Contributions, if any. The percentage of such vested and nonforfeitable interest shall be determined in accordance with the following schedule: For all Plan Years from the original Effective Date of the Plan through the Plan Year ending December 31, 1989: Years of Credited Service Percentage ------------------------- ---------- Less than 2 years None 2 years but fewer than 3 20% 3 years but fewer than 4 40% 4 years but fewer than 5 60% 5 years but fewer than 6 80% 6 years or more 100% For the Plan Year commencing January 1, 1990, and thereafter: Years of Credited Service Percentage ------------------------- ---------- Less than 1 year None 1 year but fewer than 2 10% 2 years but fewer than 3 20% 3 years but fewer than 4 40% 4 years but fewer than 5 60% 5 years but fewer than 6 80% 6 years or more 100% All of a Participant's Years of Service with The Employer shall be taken into account for Credited Years of Service for vesting purposes except as follows:
Sample 1
VESTING OF PARTICIPANT'S INTEREST. (Plan Section 6.4(b)) Vesting for Employer Contributions (except as otherwise elected in j. - q. below for matching contributions). The vesting schedule, based on a Participant's Years of Service (or Periods of Service if the Elapsed Time Method is elected), shall be as follows:
Sample 1
VESTING OF PARTICIPANT'S INTEREST. (Plan Section 6.4(b)) Vesting for Employer Contributions (except as otherwise elected in j. - q. below for matching contributions). The vesting schedule, based on a Participant's Years of Service (or Periods of Service if the Elapsed Time Method is elected), shall be as follows: a. [ ] 100% upon entering Plan. (Required if eligibility requirement is greater than one (1) Year of Service or Period of Service.) b. [ ] 3 Year Cliff: c. [ ] 5 Year Cliff: 0-2 years 0 % 0-4 years 0% 3 years 100 % 5 years 100%
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Related to VESTING OF PARTICIPANT'S INTEREST

  • Vesting of PSUs The PSUs are subject to forfeiture until they vest. Except as otherwise provided in this Agreement, the PSUs will vest and become non-forfeitable on the last day of the Performance Period, subject to (a) the achievement of the minimum threshold performance goals for payout set forth in the attached Exhibit A, (b) the certification of the performance results for the PSUs by the Committee, and (c) there being no termination of Grantee’s employment (as determined pursuant to Section 7.2 of the Plan) from the Grant Date through the last day of the Performance Period. The number of PSUs that vest and become payable under this Agreement shall be determined by the Committee based on the level of achievement of the performance goals set forth on the attached Exhibit A and shall be rounded to the nearest whole PSU.

  • Vesting of Restricted Share Units The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the date(s) specified in the following schedule (the “Vesting Date”) so long as the Grantee has served continuously as an employee of the Company or a Subsidiary on such dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1 shall lapse only with respect to the number of Restricted Share Units specified as vested on such date. Incremental Number of Restricted Share Units Vested Vesting Date _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ _____________ (___%) _______________ In determining the number of vested Restricted Share Units at the time of any vesting, the number of Ordinary Shares shall be rounded down to the nearest whole ADS or the nearest increment of 13 Ordinary Shares. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2.

  • Vesting of Units For purposes of this Agreement, “Vesting Date” means any date, including the Scheduled Vesting Dates specified in the Vesting Schedule on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 4.

  • Vesting of Award Subject to Section 2(b) below and the other terms and conditions of this Agreement, this Award shall become vested in three equal annual installments on the first, second and third anniversaries of the date hereof. Unless otherwise provided by the Company, all dividends and other amounts receivable in connection with any adjustments to the Shares under Section 4(c) of the Plan shall be subject to the vesting schedule in this Section 2(a).

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • 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.

  • Vesting of RSUs (a) Subject to Participant’s continued employment with or service to a Company Group Member on each applicable vesting date and subject to the terms of this Agreement, including, without limitation, Section 2.2(d), the RSUs shall vest in such amounts and at such times as are set forth in the Grant Notice.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains an employee of the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Vesting of the Award Except as otherwise provided in Section 3 and Section 5 below, the Restricted Stock Units will vest at such times (the "Vesting Date") and in the percentages set forth below, as long as the Grantee is serving as an employee of the Company on the Vesting Date. Vesting Date Award Percentage of Restricted Stock Units One Year from Grant Date Two Years from Grant Date Three Years from Grant Date 33% 33% 34% The Company shall issue one share of Stock to the Grantee in settlement of each vested Restricted Stock Unit (the "Distributed Shares") at the time the Restricted Stock Unit vests pursuant to any provision of this Agreement. The Distributed Shares shall be represented by a certificate or by a book-entry.

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