Vesting Benefit definition

Vesting Benefit means the benefit payable on the vesting date.
Sample 1Sample 2Sample 3
Vesting Benefit means the benefits as at the Vesting Date payable in accordance with Section 3.2 of this Policy;
Sample 1Sample 2
Vesting Benefit means, subject to continuing compliance with Section 2 hereof, the continuing vesting and non-forfeiture of a Participant’s Time-Based Restricted Stock and Performance-Based Restricted Stock until the termination of the Benefit Period (i.e., the Benefit Period shall be treated as a period of active employment) in the manner set forth in Section 3. For purposes of clarification, the Vesting Benefit does not mean acceleration of the vesting of any Time-Based Restricted Stock or Performance-Based Restricted Stock that have not vested prior to the Retirement Date.
Sample 1

Examples of Vesting Benefit in a sentence

  • Assured Vesting Benefit = {101%+1%*(Policy Term – Premium Paying Term1)}* Premium paid The Assured Vesting Benefit will be calculated based on the Policy Term chosen at the inception of the Policy.

  • If the Executive does not timely sign the Release such that it does not become effective within the 60-day period following the Executive’s Termination of Employment with the Company, then the Severance Payment shall be forfeited and the Vesting Benefit shall be disregarded (with no accelerated vesting).

  • The obligation of the Company to pay the Executive the Severance Payment and provide the Vesting Benefit is subject to the satisfaction of the following condition: the Executive shall execute and not revoke a general release of claims in form and substance reasonably satisfactory to the Company (the “Release”).

  • Notwithstanding the preceding provisions, the obligation of the Company to make the Severance Payment and provide Vesting Benefit to the Executive hereunder is subject to compliance with any applicable provisions of the Federal Deposit Insurance Corporation regulations found in Part 359 (entitled “Golden Parachute and Indemnification Payments”) of Title 12 of the Code of Federal Regulations (or any successor provisions).

  • Assured Vesting Benefit = {101%+1%*(Policy Term – Premium Paying Term)}*Total Premiums paid till date The Assured Vesting Benefit will be calculated based on the Policy Term chosen at the inception of the Policy.

  • The current maximum limit for any cash lump sum is one-third of the Vesting Benefit.

  • The Death or Vesting Benefit would be payable in accordance with the Superannuation Scheme rules of the employer.

  • Notwithstanding anything herein to the contrary, the Accelerated Vesting Benefit is subject to your execution of a release of claims against the Company and its respective affiliates in a form satisfactory to the Company substantially in the form set forth on Exhibit A hereto (a “Release”).

  • This Attachment 1 sets forth the definition, terms and conditions of Full Career Vesting Period and Full Career Vesting Benefit.

  • For details on Assured Vesting Benefit refer to Terms & Conditions (section C) Regulation mandates how this Maturity (Vesting) Benefit will be payable to you.


More Definitions of Vesting Benefit

Vesting Benefit means the Fund Value in the Unit Account, which We will determine using the Net Asset Value on the Maturity Date.
Sample 1

Related to Vesting Benefit

  • Change in Control Benefit means the benefit set forth in Section 4.1 below.

  • SERP Benefit means the benefit described in Section 5.1.

  • 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).

  • Accrued Benefit have the meanings specified in ERISA.

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

  • 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.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Change in Control Benefits means the following benefits:

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • RSUs means restricted stock units.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Retention Bonus means an incentive bonus provided under

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

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

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Vesting Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his vested interest in his Employer Contributions Sub-Account, if Employer Contributions are provided for under either Article VI or Article XXII.

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

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