Service Vested Percentage definition

Service Vested Percentage means the portion of the Performance Award that has service-vested, with such service vesting to occur as follows: 25% of the Performance Award will vest on each of the first four anniversaries of the Vesting Commencement Date, subject to the Grantee’s continued service through each applicable vesting date (unless otherwise provided in Section 4(a) and (b) of this Agreement), such that 100% of the Performance Award will be service-vested on the fourth anniversary of the Vesting Commencement Date. For purposes of the service-vested percentage, no absence of Grantee from work because of: (i) ▇▇▇▇▇▇▇’s exercise of his leave rights under any federal, state or local statute; (ii) Grantee’s leave of absence, as approved in writing by the Committee, for a temporary disability, which may include any physical or mental condition other than a “Disability” as defined in the Plan; or (iii) Grantee’s leave of absence for any purpose approved in writing by the Committee, will be considered to have interrupted ▇▇▇▇▇▇▇’s continued service to the Company. Notwithstanding anything to the contrary set forth in this Agreement, the Service Vested Percentage will be 100% upon the consummation of a Change of Control.
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Service Vested Percentage means the portion of the Performance Award that has service-vested, with such service vesting to occur as follows: one-third (1/3) of the Performance Award will vest on each of the second, third and fourth anniversaries of the Vesting Commencement Date, subject to the Grantee’s continued service through each applicable vesting date (unless otherwise provided in Section 4(a) and (b) of this Agreement), such that 100% of the Performance Award will be service-vested on the fourth anniversary of the Vesting Commencement Date. For purposes of the service-vested percentage, no absence of Grantee from work because of: (i) Grantee’s exercise of his leave rights under any federal, state or local statute; (ii) Grantee’s leave of absence, as approved in writing by the Committee, for a temporary disability, which may include any physical or mental condition other than a “Disability” as defined in the Plan; or (iii) Grantee’s leave of absence for any purpose approved in writing by the Committee, will be considered to have interrupted Grantee’s continued service to the Company. Notwithstanding anything to the contrary set forth in this Agreement, the Service Vested Percentage will be 100% upon the consummation of a Change of Control.
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Service Vested Percentage means the portion of the Performance Award that has service-vested, with such service vesting to occur as follows: one-third (1/3) of the Performance Award will vest on each of the second, third and fourth anniversaries of the Vesting Commencement Date, subject to the Grantee’s continued service through each applicable vesting date (unless otherwise provided in Section 4(a) and (b) of this Agreement), such that 100% of the Performance Award will be service-vested on the fourth anniversary of the Vesting Commencement Date. For purposes of the service-vested percentage, no absence of Grantee from work because of: (i) ▇▇▇▇▇▇▇’s exercise of his leave rights under any federal, state or local statute; (ii) Grantee’s leave of absence, as approved in writing by the Committee, for a temporary disability, which may include any physical or mental condition other than a “Disability” as defined in the Plan; or (iii) Grantee’s leave of absence for any purpose approved in writing by the Committee, will be considered to have interrupted ▇▇▇▇▇▇▇’s continued service to the Company. Notwithstanding anything to the contrary set forth in this Agreement, the Service Vested Percentage will be 100% upon the consummation of a Change of Control.
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Examples of Service Vested Percentage in a sentence

  • For the University contribution, vested percentage is as follows: Years of Vested Service* Vested Percentage Less than 2 years ………………….

  • For the avoidance of doubt, any percentage of the Performance Award in excess of the Service Vested Percentage after taking into account the prior sentences will be forfeited for no consideration.

  • For the avoidance of doubt, any percentage of the Performance Award in excess of the Service Vested Percentage will be forfeited for no consideration.

  • For the University contribution, vested percentage is as follows: Years of Vested Service* Vested Percentage Less than 2 years……….

  • The percentage of CoorsTek stock units that remain vested is determined by the following schedule: Years of Service Vested Percentage ------------------------------------- Fewer than 5 0% 5 50% 6 60% 7 70% 8 80% 9 90% 10 or more 100% For example, an Executive who terminates employment at age 51 with 5 years of service will be 27.5% vested (55% x 50%).

  • The interest of a Union -------------------------------- Participant in his Matching Account shall become fully vested and nonforfeitable in accordance with the following schedule: Years of Service Vested Percentage ---------------- ----------------- Fewer than 1 0 1 but fewer than 2 20 2 but fewer than 3 40 3 but fewer than 4 60 4 but fewer than 5 80 5 or more 100 A Union Participant shall at all times have a nonforfeitable interest in his Before-Tax Account, After-Tax Account and Rollover Account.

  • Years of Service Vested Percentage Notwithstanding the foregoing, all Participants who shared in the allocation of the Company Contribution for the Plan Year ended March 31, 1995 shall be 100% vested in such Company Contribution.

  • Subject to the limitations contained in this Article 5, a Participant’s Accrued Benefit shall vest according to the following schedule: Years of Vesting Service Vested Percentage Less than 5 0 % 5 or more 100 % Notwithstanding the foregoing, a Participant shall always be 100% vested in the portion of his Accrued Benefit attributable to his Employee Contributions.

  • For the University contribution, vested percentage is as follows: Years of Vested Service* Vested Percentage Less than 2 years ….

  • Contributions made to a Participant’s Matching Account, DISP Make-up Account, and Supplemental Pension Account shall vest according to the following schedule: Full Years of Vesting Service Vested Percentage Less than 5 0 % 5 or more 100 %” Except as specifically amended hereby, the Plan shall remain in full force and effect as prior to this First Amendment.


More Definitions of Service Vested Percentage

Service Vested Percentage means the portion of the Performance Award that has service-vested, with such service vesting to occur as follows: 25% of the Performance Award will vest on each of the first four anniversaries of the Vesting
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