Vesting Benefits definition

Vesting Benefits means the following: (i) all rights of Executive pursuant to equity compensation grants including stock options granted by the Company shall vest and shall be released from all conditions and restrictions, except for restrictions on transfer pursuant to the Securities Act of 1933, as amended; (ii) subject to applicable legal limits to the contrary, including limits applicable to incentive stock options under the Code, Executive shall have the lesser of (a) three years from the date of such termination or (b) until the end of the scheduled term of any such stock option to exercise any outstanding stock options; (iii) Executive shall be entitled to any benefits to which Executive is entitled under the Supplemental Executive Retirement Agreement in accordance with the terms thereof; and (iv) for three years after Executive’s date of termination, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, (the “Benefit Continuation Period”), the Company shall continue health care and life insurance benefits to the Executive and/or the Executive’s family at least equal to those that would have been provided to them in accordance with the plans, programs, practices and policies providing health care and life insurance benefits and at the benefit level as if the Executive’s employment had not been terminated or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliates and their families; provided, however, that, the health care benefits provided during the Benefit Continuation Period shall be provided in such a manner that such benefits (and the costs and premiums thereof) are excluded from the Executive’s income for federal income tax purposes and, if the Company reasonably determines that providing continued coverage under one or more of its health care benefit plans contemplated herein could be taxable to the Executive, the Company shall provide such benefits at the level required hereby through the purchase of individual insurance coverage; provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive health care and life insurance benefits under another employer-provided plan, the health care and life benefits provided hereunder shall be secondary to those provided under such other plan during such applicable period of eligibility.

Vesting Benefits refer to the vesting on the Release Effectiveness Date (as defined below) of all outstanding unvested equity and equity-based awards granted by the Company that are subject to vesting based solely on continued employment with the Company, with options remaining exercisable until the 60th day following the Release Effectiveness Date (or if earlier, the expiration of the term of the option. Subject to Executive’s execution of the Release (as defined below) and the expiration of the related revocation period, any termination or forfeiture of unvested equity and equity-based awards eligible for acceleration of vesting pursuant to this Section 8(b) that otherwise would have occurred on or within 60 days after the Date of Termination will be delayed until the 60th day after the Date of Termination (but, in the case of any option, not later than the expiration of the term of the option) and will occur only to the extent such equity or equity-based awards do not vest pursuant to this Section 8(b). For avoidance of doubt, the Vesting Benefit shall not apply to equity and equity-based awards granted by the Company that are subject to vesting based in whole or in part on achievement of performance-based hurdles other than continued employment with the Company, such as hurdles based on the Company’s operating performance or absolute or relative total return to shareholders.

Vesting Benefits mean vesting of all outstanding unvested equity-based awards on the Date of Termination, with stock options remaining exercisable for 60 days following the Date of Termination (or if earlier, the expiration of the term of the stock option).

Examples of Vesting Benefits in a sentence

• If Executive’s employment is terminated by his death, Executive’s beneficiary, legal representative or estate, as the case may be, will be entitled to the payments and benefits provided in Section 8(a) hereof and the Death and Disability Vesting Benefits.

• If the Executive’s employment is terminated by reason of the Executive’s Disability during the Employment Period, the Company shall provide the Executive with (i) the Accrued Obligations and the Post-Employment Health Care Benefits, (ii) the Other Benefits and (iii) subject to the Executive’s delivery of an executed Release prior to the Release Deadline (and non-revocation thereof), the Equity Award Vesting Benefits, and shall have no other severance obligations under this Agreement.

• For a paid-up Policy, the Death and Vesting Benefits payable shall be as described in Clause 2 of Part D.

• For a paid-up Policy, the Death and Vesting Benefits payable shall be as described in Clause 7.

• If employment is terminated by the Company without Cause or by Executive for Good Reason, Executive will be entitled to the payments and benefits provided in Section 8(a) hereof and, in addition, subject to Section 8(e), the Company will provide to Executive (i) a lump sum amount equal to the Severance Amount, (ii) the Pro Rata Bonus paid at the time bonuses are paid to similarly situated employees of the Company, (iii) the Medical Benefits and (iv) the Equity Vesting Benefits.

• The Cash Payments, the Continued Vesting Benefits and the Retirement Policy Benefits will commence on the 60th day following the date of your Qualifying Termination; provided however, that the first payment will include all amounts that would have been paid to you if your payments and benefits had commenced on the date of the Qualifying Termination.

• If Executive’s employment is terminated by his death, the Executive’s beneficiary, legal representative or estate, as the case may be, will be entitled to the payments and benefits provided in Section 8(a) hereof and the Death and Disability Vesting Benefits.

• In consideration for the [Consulting Arrangement] [and] [Accelerated Vesting Benefits] to be provided to me pursuant to my Executive Employment Agreement with Reliant Technologies, Inc.

• Vesting Benefits accrued in a month vest at the end of that month.

• The Vesting Benefits shall be payable in accordance with the Scheme Rules If you maintain superannuation funds with other insurers along with Bajaj Allianz Life Super Gain Group Superannuation Scheme, you will have the option to choose the insurer to purchase the immediate annuity from.

More Definitions of Vesting Benefits

Vesting Benefits means the following: (A) all rights of Executive pursuant to awards of share grants or options granted by the Company shall vest and shall be released from all conditions and restrictions, except for restrictions on transfer pursuant to the Securities Act of 1933, as amended; (B) subject to applicable legal limits to the contrary, including limits applicable to incentive stock options under the Code, Executive shall have the lesser of (i) two years from the date of such termination or (ii) until the end of the scheduled term of any such stock option to exercise any outstanding stock options; (C) Executive shall be credited with service with the Company for such remaining Term for the purposes of the benefit plans of the Company and its subsidiaries; (D) Executive shall be entitled to any benefits to which Executive is entitled under the Supplemental Executive Retirement Agreement in accordance with the terms thereof; (E) for two years after Executive’s date of termination, or such longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue health and welfare benefits to Executive and/or Executive’s family at least equal to those that would have been provided to them in accordance with the plans, programs, practices and policies applicable to Executive if Executive’s employment had not been terminated or, if more favorable to Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliates and their families; provided, however, that, if Executive becomes reemployed with another employer and is eligible to receive such benefits under another employer provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility; and (F) if any provision of this definition cannot, in whole or in part, be implemented and carried out under the terms of the applicable compensation, benefit, or other plan or arrangement of the Company because Executive has ceased to be an actual employee of the Company, because Executive has insufficient or reduced credited service based upon Executive’s actual employment by the Company, because the plan or arrangement has been terminated or amended after the effective date of this Agreement, or because of any other reason, the Company itself shall pay to Executive an amount equal to the average cost per em...

Vesting Benefits mean vesting of all service-based vesting conditions on Executive’s unvested equity awards on the Date of Termination; provided that such awards will remain subject to any performance-based vesting conditions.

Vesting Benefits under this Plan shall become nonforfeitable when and to the extent they would have become nonforfeitable had they been attributable to the applicable qualified plan, except as otherwise provided in section 5.2. Notwithstanding the preceding sentence, a Participant or his beneficiary shall have no right to benefits under this Plan if the Administrator(s) determines that he engaged in a willful, deliberate, or gross act of commission or omission which is substantially injurious to the finances or reputation of the Employer.