Full Vesting Date definition
Examples of Full Vesting Date in a sentence
If the Executive remains employed by the Bank or an affiliate thereof until or after the Full Vesting Date (as defined in Exhibit A hereto), then, commencing upon the Payment Commencement Date (as defined in Exhibit A hereto), and continuing on the first business day of each month thereafter until a total of 180 payments have been made to the Executive, the Bank shall pay to the Executive an amount equal to one-twelfth (1/12) of the Full Benefit (as defined in Exhibit A hereto).
Class B2 Units shall be treated as, and shall automatically be redesignated as, Class B Units from and after the later to occur of (i) the Full Vesting Date and (ii) the time at which the Capital Account balance attributable to such Class B2 Units equals the Target Balance with respect to such Class B2 Units.
If a Change in Control (as hereinafter defined) occurs before Executive experiences a separation from service with Park and its affiliates, then Executive shall become 100% vested and thus entitled to the Full Benefit upon any subsequent separation from service, other than for Cause, prior to the Full Vesting Date.
No Class B2 Limited Partner shall be entitled to participate in any distributions pursuant to Section 4.1 in respect of any of its Class B2 Units prior to the Full Vesting Date of such Class B2 Units (and then shall be entitled to participate in distributions only in respect of any fiscal quarter commencing after the Full Vesting Date).
For the purposes of this Agreement, the “Early Benefit” shall be the amount set forth on Exhibit A corresponding to the year in which Executive separates from service prior to the Full Vesting Date.
As soon as administratively practicable following the Full Vesting Date, but in no event later than 60 days thereafter, subject to Section 3, the Grantee (or the Grantee’s permitted transferee, if applicable) shall be issued in full settlement of such Phantom Unit one share of Stock unless the Board, in its discretion, elects to pay the Grantee an amount of cash equal to the Fair Market Value of a share of Stock determined on the Full Vesting Date.
COPIES OF THE PLAN AND SUCH RESTRICTED STOCK AWARD AGREEMENT MAY BE OBTAINED FROM ALPHARMA INC." In addition to the transfer restrictions referred to above and in Section 7 above, the Employee recognizes that United States federal and state securities laws govern and may restrict his or her right to sell or otherwise dispose of the Restricted Stock Award after the Full Vesting Date (or such earlier vesting date pursuant to Section 2(c) above).
The Employee shall become 100% Vested in the Restricted Stock Award on the Full Vesting Date, subject to the other terms and conditions of this Agreement, including this Section 2.
Absent such an election, taxable income will be measured and recognized by the Employee at the time of the Full Vesting Date (or such earlier vesting date pursuant to Section 2(c) above with respect to earlier-vested Shares of the Restricted Stock Award).
The Employee shall become 100% Vested in the Restricted Stock Unit Award (in all Restricted Units) on the Full Vesting Date, subject to the other terms and conditions of this Agreement, including this Section 2.