Vested Amount definition

Vested Amount means, with respect to each Option, a percentage of the shares for which the Option has become exercisable (subject to the further terms of the Plan) by application of the schedule set forth in Section 4(b).

Vested Amount means the portion of an Account equal to the Restricted Stock Units credited to such Account multiplied by the applicable vested percentage specified in the Participant’s vesting schedule.

Vested Amount is the number of Restricted Stock Units that vest on the Vesting Date, adjusted upward or downward from the Target Amount based on the achievement of the goals described in Appendix A.

Examples of Vested Amount in a sentence

• In the event the Vested Amount is paid in shares of Common Stock, if the calculation set forth in the preceding sentence results in fractional shares, the Company shall round such number of shares to the nearest whole number; provided, that if such number is rounded down, the Company shall pay to the Employee an amount in cash equal to the fractional shares based on the Fair Market Value thereof.

• Unless sooner terminated as provided in this Plan, in the event of the death or Disability of an Optionee while employed or engaged by the Company (as the case may be), Options held by such Optionee that are exercisable on the date of Disability or death shall be exercisable up to the Vested Amount as of the date of Disability or death for a period of twelve (12) months commencing on the date of the Optionee's Disability or death.

• The Administrator may, but need not, determine that the Vested Amount of each Option shall be exercisable only upon the earlier to occur of: (i) the consummation of a Public Offering; or (ii) the consummation of a Sale of the Company.

• During prior years, the Company granted the following options and recognized the 2007 vested amount as follows: Grant date Granted Exercise price Fair Value 2007 Vested Amount 5 November 2004 2,000,000 $0.64 $433,335 $2,167 13 July 2005 100,000 $0.40 $16,959 $5,653 3 February 2006 350,000 $0.40 47,052 22,100 19 April 2006 440,000 $0.40 69,730 56,640 Total 2,890,000 $567,076 $86,560 The total estimated fair value of the 2,890,000 options is $567,076.

• No Stock will be issued to you until you have accrued a Vested Amount on the respective Vesting Date.

More Definitions of Vested Amount

Vested Amount means the percentage of a Participant's Accrued Benefit which is nonforfeitable. The Vested Amount with respect to a Participant shall be 100% upon the occurrence of any of the following events: (a) attainment of his or her Normal Retirement Age, (b) the Participant's Disability as provided in Article 4, (c) the Participant's death as provided in Article 5, and (d) a Change of Control as described in Article 10. Upon a Participant's termination of employment for any other reason, except as provided in Section 6.2, the Participant's nonforfeitable percentage shall be equal to the percentage used in determining his or her Accrued Benefit. If a Participant's termination of employment is subject to Section 6.2, his or her nonforfeitable percentage shall be zero.

Vested Amount means the percentage of a Participant's Accrued Benefit which, subject to Section 6.2, is nonforfeitable. The Vested Amount with respect to a Participant who has completed five Years of Service or who has attained age 65 shall be 100%. Except as otherwise provided in Article 10 (regarding a Change of Control), the Vested Amount of a Participant who has not completed five Years of Service or attained age 65 shall be 0%. If the Participant has attained age 65, the Vested Amount will be 100%.

Vested Amount shall equal the sum of (i) Executive’s current annual base salary, which is $425,000, (ii) an amount equal to the cash bonus that Executive would have been entitled to receive from the Company for 2015 if Executive had not resigned based on the bonus criteria previously communicated to Executive and estimated results for 2015, as determined by the Compensation Committee of the Board of Directors of the Company in good faith on or before December 20, 2015 (the “2015 Bonus Amount”) and (iii) an amount equal to the average of the Executive’s cash bonus for 2014, which was $371,000, and the 2015 Bonus Amount. The “Unvested Amount” shall equal the dollar amount that would have been used to determine the equity bonus that Executive would have been entitled to receive from the Company for 2015 if Executive had not resigned based on the bonus criteria previously communicated to Executive and estimated results for 2015, as determined by the Compensation Committee of the Board of Directors of the Company in good faith on or before December 20, 2015. Promptly after the determination of the Vested Amount and the Unvested Amount (and, in any event, at least three business days prior to the Resignation Date), the Company will notify Executive of the amounts of the Vested Amount and the Unvested Amount and provide Executive with a spreadsheet (the “Spreadsheet”) containing the details of the calculation of such amounts in the form agreed upon by Executive and the Company. Executive will receive dividends on all vested and unvested LTIPS in accordance with Company policy and in the same manner as those received by other LTIP holders.

Vested Amount means, with respect to each Option, a percentage of the shares for which the Option has become exercisable, subject to the further terms of the Plan.

Vested Amount means the portion of a Participant's Award which is nonforfeitable.

Vested Amount shall, with respect to a given Vesting Tranche, be a function of the Company’s Total Shareholder Return during the applicable Performance Period relative to members of the Peer Group, determined as follows: 35th Percentile 0 0 0 0 50th Percentile 29,072 29,072 29,072 29,073 75th Percentile 50,876 50,877 50,876 50,877 In the event that the relative Total Shareholder Return during a given Performance Period falls between any of the stated percentile values above, the Vested Amount for the applicable Vesting Tranche shall be determined using a linear interpolation from the next lowest stated percentile value, rounded down to the next whole share. For example, if the Company’s Total Shareholder Return during a the Performance Period for Tranche 1 is in the 40th percentile relative to the Peer Group, the Vested Amount for Tranche 1 would equal 9,690, and if the Company’s Total Shareholder Return during such Performance Period is in the 60th percentile relative to the Peer Group, the Vested Amount for such Vesting Tranche would equal 37,793. For all purposes of this Grant Notice, the Plan, the Employment Agreement, and any other agreement between the Holder and the Company, relative Total Shareholder Return in the 50th percentile among the Peer Group shall be deemed to be “target” performance, and any references in the Employment Agreement to the “Target Number” shall be references to the number of shares in the Vested Amount at “target” performance. No shares of Restricted Stock in a given Vesting Tranche shall vest if the Company’s Total Shareholder Return for the applicable Performance Period relative to the Peer Group is at or below the 35th percentile. The maximum Vested Amount for any given Vesting Tranche shall be the Vested Amount set forth for such Vesting Tranche in the table above for a Total Shareholder Return in the 75th percentile relative to the Peer Group.

Vested Amount has the meaning set forth in Section 3.15.7.