Vesting Factor definition
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table:
Vesting Factor with respect to the Supplemental Retirement Benefit shall be one hundred percent (100%). The Executive’s Supplemental Retirement Benefit shall be calculated based on the Executive’s actual age as of the date of commencement of payment of such Supplemental Retirement Benefit (the “SERP Distribution Date”), and by applying the applicable early retirement factors under the SERP, if the Executive has not attained age sixty-two (62) but has attained age fifty-five (55) as of the SERP Distribution Date. If the Executive has not attained age fifty-five (55) as of the SERP Distribution Date, the Executive’s Supplemental Retirement Benefit shall be calculated by applying the applicable early retirement factor under the SERP for age fifty-five (55), and the Supplemental Retirement Benefit otherwise payable at age fifty-five (55) shall be actuarially adjusted to the Executive’s actual age as of the SERP Distribution Date using the following actuarial assumptions: (i) the applicable mortality table promulgated by the Internal Revenue Service under Section 417(e)(3) of the Code, as in effect on the first (1st) day of the calendar year in which the SERP Distribution Date occurs, and (ii) the applicable interest rate promulgated by the Internal Revenue Service under Section 417(e)(3) of the Code for the November next preceding the first day of the calendar year in which the SERP Distribution Date occurs. The Executive’s Supplemental Retirement Benefit shall be determined in accordance with this Section 5(b), notwithstanding any contrary provisions of the SERP and, to the extent subject to Section 409A of the Code, shall be paid in accordance with Treasury Regulation Section 1.409A-3(c)(1). The Supplemental Retirement Benefit paid to or on behalf of the Executive in accordance with this Section 5(b) shall be in full satisfaction of any and all of the benefits payable to or on behalf of the Executive under the SERP.
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: [***] 0x [***] 0x to 1x [***] 1x [***] 1x to 2x [***] 2x Notwithstanding any other provision of this Agreement to the contrary, the Committee, in its sole discretion, may adjust the terms of the table set forth above in connection with the acquisition of a business or the disposition of a business or a segment of a business.
Examples of Vesting Factor in a sentence
The Executive shall be treated as qualified for “Retirement” (as defined in the SERP) as of the Date of Termination, and the Executive’s Vesting Factor with respect to the Supplemental Retirement Benefit shall be 100%.
If the Participant remains in Continuous Service through and including the Determination Date and no Change in Control occurs prior to the Determination Date, then the Participant shall be entitled to receive a number of shares of Stock determined by multiplying the Target Amount by the Applicable Vesting Factor.
Assuming an award of 150 Performance Shares, and an Early Retirement Vesting Factor is 0.24 the Adjusted Performance Shares would be 36.
Notwithstanding the previous sentence, in no event shall the Vesting Factor exceed 100%.
Notwithstanding the provisions of subsection 3(b), upon a Change in Control, the Vesting Factor (described in Section 3(b)) shall be the percentage determined by dividing the years of service of the Employee (computed in accordance with the provisions of Section 3(b)) by 15.
More Definitions of Vesting Factor
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: Less than $__________ 0x Equal to or greater than $__________, but less than $__________ 0x to 1x Equal to or greater than $__________, but less than $__________ 1x Equal to or greater than $__________, but less than $__________ 1x to 2x Equal to or greater than $__________ 2x
Vesting Factor means (x) one (1) during Employee’s term of employment, and (y) following Employee’s termination of employment, the lesser of (a) one (1) and (b) a fraction, the numerator of which shall be the number of months Employee was employed with the Company, and the denominator of which shall be eighteen (18). The expectation is that the milestones will be achieved within 18 months.
Vesting Factor shall be calculated by dividing the number of months since the option was granted by the total months contained in the original vesting period.
Vesting Factor for the applicable Performance Period shall be a number between 0 and 1, inclusive, and shall be interpolated linearly for performance between threshold and maximum performance levels and obtained by calculating the following quotient, whereby:
(i) The numerator shall be the Average Market Price for the last day of the applicable Performance Period minus the Base Threshold Average Market Price, and
(ii) the denominator shall be the Base Maximum Average Market Price minus the Base Threshold Average Market Price.
Vesting Factor means the factor determined in accordance with Exhibit 1.
Vesting Factor shall be determined as follows: Performance Goal: Average Market Price(1) Performance Goal: Cumulative TSR Growth(2) Vesting Factor(3) Threshold $359 (which is the “Base Threshold Average Market Price”) The Company’s Cumulative TSR Growth for the period from the Date of Award through the end of the applicable Performance Period is equal to or above the 35th percentile of the Peer Group 0 Maximum $524 (which is the “Base Maximum Average Market Price”) The Company’s Cumulative TSR Growth for the period from the Date of Award through the end of the applicable Performance Period is equal to or above the 35th percentile of the Peer Group 1
Vesting Factor with respect to any fiscal year shall be equal to provided that the Vesting Factor shall in no event be less than zero and shall in no event exceed one;