Vesting Rights. Subject to the applicable provisions of the Plan and this Agreement, this Option may be exercised, in whole or in part, in accordance with the schedule set forth in the Notice of Grant.
Vesting Rights. Vesting is the right to earn a non-forfeitable accrued benefit. Vesting begins after a priest has completed two years of service in the Diocese. Commencing with the third year of service, vesting is earned at the rate of 20% per year of service. Thus, after seven (7) years of service, a priest is fully vested in his accrued benefit. (For example, at the end of seven (7) years of service, a priest would be fully vested in 23.1% of the defined annual benefit and would then continue to accrue vested benefits as set forth in Article IV below.)
Vesting Rights. Effective January 1, 1986, it is understood that members of this unit will vest their pension rights when they have fifteen (15) years of membership in the Xxxxx Park Retirement System regardless of age. When their rights are vested, they and their dependents shall be entitled to all benefits allowable any other employee who has vested rights. This section may change to comply with any adopted federal or state law concerning vesting rights.
Vesting Rights. Subject to the provisions hereof, your Option will vest as set out in your Grant Notice. The vesting will cease upon termination of your continuous service.
Vesting Rights. Subject to the applicable provisions of the Plan and this Option Agreement, the Option may be exercised, in whole or in part, in accordance with the Vesting Schedule set forth in the Notice. Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event Participant’s Service status changes between full and part-time and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of Awards or as determined by the Committee. Participant acknowledges that the vesting of the Option pursuant to this Notice and Agreement is subject to Participant’s continuing Service as an Employee, Director, or Consultant.
Vesting Rights. Vacation accrual does not vest until completion of the year for which it was earned.
Vesting Rights. The Company agrees that subject to Paragraph 5.04 of this Agreement, upon execution of this Agreement, the Officer shall be fully vested in the Benefit.
Vesting Rights. This Option may be exercised, in whole or in part, in accordance with the following schedule:
Vesting Rights. Subject to the applicable provisions of the Plan and this Agreement, this Option is immediately exercisable and may be exercised, in whole or in part, although the Shares issued upon exercise of this Option will be subject to restrictions on transfer and to the Company’s (and its assignees’) repurchase option set forth Section 6 of the Stock Option Exercise Agreement attached hereto. The Company’s repurchase option shall lapse in accordance with the Vesting Schedule set forth in the Notice of Grant. Shares that are vested pursuant to the Vesting Schedule are “Vested Shares.” Shares that are not vested pursuant to the Vesting Schedule are “Unvested Shares.”
Vesting Rights. Subject to the applicable provisions of the Plan and this Option Agreement, this Option may be exercised, in whole or in part, in accordance with the Vesting Schedule set forth in the Notice. Participant acknowledges and agrees that the Vesting Schedule may change prospectively in the event that Participant’s service status changes between full- and part-time status and/or in the event that Participant is on an approved leave of absence in accordance with BioLargo policies relating to work schedules and vesting of awards or as determined by the Committee. Participant acknowledges that the vesting of the Options pursuant to the Notice and this Option Agreement is subject to Participant’s continuing Service.
