Accelerated Vesting Benefit definition

Accelerated Vesting Benefit means that, notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement, all time-based stock options and other time-based stock-based awards held by the Executive shall immediately accelerate and become fully exercisable, vested or nonforfeitable as of the date of the Executive’s termination of employment with the Company.
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Accelerated Vesting Benefit means that, notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement, all time-based stock options and other time-based stock-based awards held by the Director shall immediately accelerate and become fully exercisable, vested or nonforfeitable as of the date of the Director ceasing to serve as a member of the Board.
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Accelerated Vesting Benefit means, with respect to a Participant’s Equity Awards, the following:
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Examples of Accelerated Vesting Benefit in a sentence

  • In addition to the Accrued Salary, the Consulting Payment, the Accelerated Vesting Benefit, the Bonus Payment and the SERP Contribution, the Bank will pay the Executive on the first available payroll date of the Bank after the Effective Date, as defined below in Paragraph 5, a lump sum payment equal to the cost of Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) coverage for the Executive and his dependents for six (6) months, for a total amount of $15,392.64 (the “COBRA Payment”).

  • The Executive acknowledges and agrees that the Bank’s payment/grant to the Executive of the the Consulting Payment, the Accelerated Vesting Benefit and the COBRA Payment is not required by the Bank’s policies or procedures or by any contractual obligation of the Bank, constitutes new consideration to which the Executive was not already otherwise entitled, and is offered by the Bank solely as consideration for this Agreement.


More Definitions of Accelerated Vesting Benefit

Accelerated Vesting Benefit means, with respect to Employee’s Equity Awards, the following:
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Related to Accelerated Vesting Benefit

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Change in Control Benefits means the following benefits:

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • Initial Vesting Date means the date occurring one (1) year after the Date of Option Grant.

  • Vesting Event means the earliest to occur of the following events:

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Severance Amount means:

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Vesting mean that the Units have become non-forfeitable. If Employee has a Termination of Employment prior to the Stated Vesting Date and the Units are not otherwise deemed vested by that date, the Units will be immediately forfeited except as otherwise provided in Section 4 of the Terms and Conditions.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • Severance Date means the date on which an Eligible Employee incurs a Severance.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • housing benefit means housing benefit under Part 7 of the SSCBA;

  • Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.

  • Retention Bonus means the amount equal to:

  • Termination Benefit means the benefit set forth in Article 7.

  • Change in Control Date means the date on which a Change in Control occurs.

  • Change in Control Payment shall have the meaning stated in Section 6.4 hereof.

  • Change in Control Price means the highest price per share of Stock offered in conjunction with any transaction resulting in a Change in Control (as determined in good faith by the Committee if any part of the offered price is payable other than in cash) or, in the case of a Change in Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of the Stock on any of the 30 trading days immediately preceding the date on which a Change in Control occurs.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.