Vesting Multiplier definition

Vesting Multiplier means the following; provided, however that upon attainment of age sixty-five (65), death or occurrence of disability (as defined by the Social Security Administration), the Vesting Multiplier shall become three percent (3%): If termination of employment occurs on after the first anniversary of 1% the Effective Date, but before the second anniversary of Effective Date If termination of employment occurs on after the second anniversary 2% of the Effective Date, but before the third anniversary of Effective Date If termination of employment occurs on after the third anniversary 3% of the Effective Date To be eligible to receive the Reduced Resignation Severance or Longevity Severance, as applicable, the Executive must provide the Bank with at least ninety (90) days’ notice of the Executive’s intent to voluntarily terminate employment from the Bank without Good Reason, with such notice stating whether Executive chooses to receive the Reduced Resignation Severance or Longevity Severance. If applicable, the Reduced Resignation Severance pursuant to this Section shall be paid in equal installments in accordance with the normal payroll practices of the Bank over a three (3) month period, beginning on the next regularly scheduled payroll date following the eighth (8th) day after Executive executes and does not revoke a general release and waiver of claims (the “Release”) in favor of the Bank, its parents, subsidiaries, affiliates, and their officers, directors, executives, agents, and attorneys, in a form provided to Executive at the time of his termination of services, and through which Executive releases the Bank and related parties from any and all claims as may relate to or arise out of his relationship with the Bank, or the termination thereof. If applicable, the Longevity Severance pursuant to this Section shall be paid in equal installments in accordance with the normal payroll practices of the Bank over a two (2) year period, beginning on the next regularly scheduled payroll date following the eighth (8th) day after Executive executes and does not revoke a Release. For the avoidance of doubt, if Executive is entitled to and receives the either Reduced Resignation Severance or Longevity Severance described in this Section 8.1, at no time thereafter will he also be entitled to any of the payments described in Section 8.2 or Section 8.3 hereof.
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Vesting Multiplier means the following; provided, however that upon attainment of age sixty-five (65), death or occurrence of disability (as defined by the Social Security Administration), the Vesting Multiplier shall become three percent (3%): If termination of employment occurs on after the first anniversary of 1% the Effective Date, but before the second anniversary of Effective Date EXHIBIT 10.14 If termination of employment occurs on after the second anniversary 2% of the Effective Date, but before the third anniversary of Effective Date If termination of employment occurs on after the third anniversary 3% of the Effective Date To be eligible to receive the Longevity Severance, the Executive must provide the Bank with at least ninety (90) days’ notice of the Executive’s intent to voluntarily terminate employment from the Bank without Good Reason. The payment due pursuant to this Section shall be paid in equal installments in accordance with the normal payroll practices of the Bank over a two (2) year period, beginning on the next regularly scheduled payroll date following the eighth (8th) day after Executive executes and does not revoke a general release and waiver of claims (the “Release”) in favor of the Bank, its parents, subsidiaries, affiliates, and their officers, directors, executives, agents, and attorneys, in a form provided to Executive at the time of his termination of services, and through which Executive releases the Bank and related parties from any and all claims as may relate to or arise out of his relationship with the Bank, or the termination thereof. For the avoidance of doubt, if Executive is entitled to and receives the Longevity Severance described in this Section 8.1, at no time thereafter will he also be entitled to any of the payments described in Section 8.2 or Section 8.3 hereof.
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Vesting Multiplier means (i) 0.2 for any Twenty Percent Shares, (ii) 0.4 for any Forty Percent Shares, (iii) 0.6 for any Sixty Percent Shares, (iv) 0.8 for any Eighty Percent Shares, and (v) 1.0 for any Shares issued to the original holder of such Shares who (A) ceased to be employed by the Corporation on or after the fifth anniversary of the issuance of such Shares to such holder or (B) is still employed by the Corporation.
Sample 1

Examples of Vesting Multiplier in a sentence

  • The Exercise Price, the number of Warrant Shares, the Vesting Multiplier and the kind of Exercise Shares issuable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the happening of certain events after the date hereof as hereinafter provided.

  • For the Vesting Multiplier to be greater than 0, both the relevant Revenues Test and the Product Performance Test set forth below must be met during the Warrant Period.

  • If, notwithstanding such efforts, such statements can no longer be used in the advertising, promotion and provision of the Services, the "Vesting Multiplier" applicable to the Supplemental Warrant shall, from and after the date such statement can no longer so be used (the "Multiplier Adjustment Date"), be doubled.

  • The ---------------------------------------------------------------- Exercise Price, the number of Warrant Shares, the Vesting Multiplier and the kind of Exercise Shares issuable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the happening of certain events after the date hereof as hereinafter provided.

  • Therefore, the number of full months remaining until the Final Vesting Date is five, and the Vesting Multiplier is the reciprocal of 5.

  • Therefore, the number of full months remaining until the Final Vesting Date is forty six, and the Vesting Multiplier is the reciprocal of 36.


More Definitions of Vesting Multiplier

Vesting Multiplier means the following; provided, however that upon attainment of age sixty-five (65), death or occurrence of disability (as defined by the Social Security Administration), the Vesting Multiplier shall become three percent (3%): If termination of employment occurs on after the first anniversary of 1% the Effective Date, but before the second anniversary of Effective Date
Sample 1

Related to Vesting Multiplier

  • Multiplier means the Multiplier specified in the Table.

  • Vesting Percentage means the percentage by which the Target Total Award is multiplied as set forth in the chart in Section II below.

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: Long-Term Ratings* Fitch Applicable Multiplier AAA to AA- 100% A+ to A- 000% BBB+ to BBB- 140% *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Performance Percentage means the factor determined pursuant to a Performance Schedule that is to be applied to a Target Award and that reflects actual performance compared to the Performance Target.

  • Target Award means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b).

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • Maximum Award means as to any Participant for any Performance Period, $4 million.

  • Unit Value means, at any time, the value of each Stock Unit, which value shall be equal to the Fair Market Value (as defined in the Plan) of a Share on such date.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • Weighting factor wT for an organ or tissue (T) means the proportion of the risk of stochastic effects resulting from irradiation of that organ or tissue to the total risk of stochastic effects when the whole body is irradiated uniformly. For calculating the effective dose equivalent, the values of wT are:

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Performance Factor means any matter that could or will significantly affect a party’s ability to fulfill its obligations under this Agreement;

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

  • Severance Multiple means 2.50; provided, however, that notwithstanding the foregoing, for each full month that elapses during the period beginning on the date the Executive attains age 63 and ending on the date the Executive attains age 65, the Severance Multiple shall be reduced by an amount equal to the product of (i) 1/24 and (ii) the excess of (A) the original Severance Multiple set forth above over (B) 1.0 (rounded to the nearest hundredth).

  • Remaining Weighted Average Life of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Achievement Percentage means the percentage of achievement determined by the Committee after the end of the Performance Cycle in accordance with Section 4 that reflects the extent to which the Company achieved the Performance Goals during the Performance Cycle.

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Class Factor As to any date of determination and any Class of Certificates (other than the Interest Only Classes and the Residual Certificates), a fraction the numerator of which is (i) the aggregate of the denominations of all Certificates of such Class plus, in the case of each Accrual Class, all interest that has accrued on the Certificates of such Class prior to such date of determination and been added to the Class Balance thereof, less (ii) the aggregate amount of all Principal Distribution Amounts, if any, allocable thereto prior to such date of determination and the denominator of which is the original Class Balance of such Class. As to any date of determination and any Interest Only Class, a fraction, the numerator of which is the percentage of the balance specified for such purpose under “Reference Sheet–Notional Classes” in the Prospectus Supplement (or, if applicable, the sum of the applicable percentages of the balances so specified) and the denominator of which is the original Class Balance thereof. Code: The Internal Revenue Code of 1986, as amended, including any successor or amendatory provisions.