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. B.1 An Award becomes vested only upon satisfaction of both the service-based vesting requirements and the performance-based vesting requirements set forth below.
Vesting Requirements. Subject to the “Forfeiture of Restricted Stock” paragraph below, the RSUs will become vested under the following circumstances (each a “Vesting Date”): • 100% of the RSUs outstanding on the third anniversary of the Original Grant Date of Xxxxx, provided you are still employed with the Company; • 33% of the RSUs outstanding, if your employment is terminated due to an involuntary termination in connection with a reduction in force on or after the second anniversary of the Original Grant Date but prior to the third anniversary of the Original Grant Date; • 66% of the RSUs outstanding, if your employment is terminated due to an involuntary termination in connection with a reduction in force on or after the second anniversary of the Original Grant Date but prior to the third anniversary of the Original Grant Date; and • 100% of RSUs outstanding, if your employment is terminated prior to the third anniversary of the Date of Grant due to death or disability, or upon the occurrence of a “Change in Control.” In addition, if you are eligible for “Retirement” prior to the third anniversary of the Original Grant Date, 33% of the then outstanding RSUs will vest on the date you are “Retirement” eligible on or after the first anniversary of the Original Grant Date, and 66% of the then outstanding RSUs will vest on the date you are “Retirement” eligible on or after the second anniversary of the Original Grant Date (each such date shall also be a “Vesting Date”). For this purpose, “Retirement” means attaining age 60 and completing 10 years of service with the Company. The Committee may, in its sole discretion, provide for additional vesting. Forfeiture of RSUs. RSUs which are not and do not become vested upon your termination of employment shall, coincident therewith, terminate and be of no force or effect. In the event that (a) you are convicted of (i) a felony or (ii) a misdemeanor involving fraud, dishonesty or moral turpitude, or (b) you engage in conduct that adversely affects or may reasonably be expected to adversely affect the business reputation or economic interests of the Company, as determined in the sole judgment of the Committee, then all RSUs and all rights or benefits awarded to you under this grant of RSUs are forfeited, terminated and withdrawn immediately upon such conviction or notice of such determination. The Committee shall have the right to suspend any and all rights or benefits awarded to you hereunder pending its investigation and final determinat...
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 they retire.
Vesting Requirements. Section 2 of the Agreement (the “Vesting Requirements” provision) is deleted in its entirety and replaced with the following: Subject to Section 3 of this Agreement (the “Forfeiture of Performance RSUs” provision), the Performance RSUs will become vested under one of the following circumstances, to the extent the Performance RSUs have not previously vested or become forfeited:
(a) a percentage of the Initial Performance RSUs shall become vested on the third anniversary of the Date of Grant (the “Third Anniversary Date”), provided that, except as otherwise set out herein, you must be and remain Actively Employed (as defined herein) with BWXT or an Affiliate on the Third Anniversary Date (with the number of Performance RSUs in which you vest determined as described in Section 4 of this Agreement (the “Number of Performance RSUs” provision));
(b) if your employment terminates due to Retirement (as defined below) or an involuntary termination by BWXT without Cause and the Termination Date (as defined herein) is on or after the first anniversary of the Date of Grant but prior to the Third Anniversary Date, you will be eligible to vest in a number of Performance RSUs equal to the product of: (i) the number of Performance RSUs that would have vested if you would have remained Actively Employed by BWXT or an Affiliate until the Third Anniversary Date or the occurrence of a Change in Control that would otherwise result in vesting (whichever occurs first) multiplied by (ii) a fraction, the numerator of which is the number of calendar days you are Actively Employed by BWXT or an Affiliate during the Performance Period, and the denominator of which is the total number of calendar days in the Performance Period;
(c) if your employment terminates as a result of: (i) your death; or (ii) your Disability and the Termination Date is prior to the Third Anniversary Date, then 100% of the Initial Performance RSUs shall become vested prior to the Third Anniversary Date on the earlier on the Termination Date; and
(d) the Committee may provide for additional vesting under other circumstances, in its sole discretion. In the event of a Change in Control that occurs prior to the vesting or forfeiture of the Performance RSUs, the Performance RSUs shall be treated as set forth in Article 16 of the Plan.
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. 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 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 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 on Schedule I to the Award Notice are actually attained and (ii) then the number of the Performance 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 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.
