Final vesting definition

Final vesting means the right of a member or a beneficiary to receive a monthly retirement allow- ance, disability allowance, a family benefit, or survivor benefits when the member has completed the minimum number of years of credited service, has attained the minimum specified age, has formally terminated his or her active service, has made application for retirement, or has been formally retired in accordance with Section 24201, after which the kind and amount of the retirement allowance is fixed and cannot thereafter be changed except as provided in this part.
Sample 1Sample 2Sample 3

Examples of Final vesting in a sentence

  • Payments on pool assets, including any payoffs, made in accordance with the X related pool asset documents are posted to the applicable servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements and allocated to principal, interest or other items (e.g., escrow) in accordance with the related documents.

  • Final vesting of all unvested SunShare options occurred on April 30, 2008.

  • Final vesting of the share rights are subject to each executive remaining employed by the Group until the vesting date.

  • Final vesting will occur on June 30, 1999 if still employed by the Company or an affiliate.

  • Final vesting percentages for segments ending in 2021 are as follows: Performance Shares Grant (Year & Segment) Final Percentile TSR Ranking versus PeersVesting Percentage of Target (Target = 100%)(Range of 0% to 200%)2018 (final of 3 segments) 3 of 11 The design for Performance Shares granted in 2020 included two metrics: relative TSR versus a peer group, weighted at75 percent, and 3-year average Return on Invested Capital (ROIC), weighted at 25 percent.

  • Final vesting will not occur until the end of the three-year performance period.

  • Final vesting of the share rights are subject to each Executive remaining employed by the Group until the vesting date.

  • Final vesting of all unvested SunShare options occurred onApril 30, 2008.

  • Final vesting percentages are determined by a combination of performance hurdles in respect of a combination of absolute total shareholder return and relative total shareholder return compared to a specific group of exploration and production companies as determined by the Board.

  • Final vesting of 37,814 YEM21 STI Deferral shares as a result of service conditions being met.4(b).

Related to Final vesting

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

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

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

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

  • Vesting Percentage means the percentage by which the Target Total Award is multiplied as set forth in the chart in Section II below.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Vesting Commencement Date means the Grant Date or such other date selected by the Committee as the date from which an Award begins to vest.

  • Measurement Date means the most recent Payment Date specified in the first column of the Cumulative Net Loss Rate Table.

  • 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.

  • Performance Date means December 31, 2025. If the Locality, in consultation with VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, on or before the Performance Date the Locality may request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Company and the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Award Date means the date upon which the Committee took the action granting an Award or such later date as the Committee designates as the Award Date at the time of the Award.

  • Year of Vesting Service means a vesting computation period during which you complete 1,000 hours of service during the Plan Year.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • Exit Date means the date on which the insurance cover of the Scheme Member ceases due to occurrence of any of the following events:

  • Erroneous Payment Return Deficiency has the meaning assigned to it in Section 14.14(d).

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Vesting Conditions means those conditions established in accordance with Section 8.4 or Section 10.2 of the Plan prior to the satisfaction of which shares subject to a Restricted Stock Award or Restricted Stock Unit Award, respectively, remain subject to forfeiture or a repurchase option in favor of the Company upon the Participant’s termination of Service.

  • 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.

  • Vest means to become exercisable or to otherwise obtain ownership rights in an award.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • Time-share unit means a condominium unit in which a time-share estate or a time-share license exists.