Special Vesting Schedule Sample Clauses

A Special Vesting Schedule clause defines a unique timeline or set of conditions under which an individual earns rights to certain benefits, such as stock options or equity, differing from the standard vesting terms. For example, it may accelerate vesting upon a change of control, or provide for immediate vesting if specific performance milestones are met. This clause is used to tailor incentive structures, align interests, or address specific circumstances, ensuring that vesting terms are appropriate for the situation and providing flexibility beyond standard arrangements.
Special Vesting Schedule. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially-Vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Plan Administrator will establish a separate Account for the Participant's Account Balance. At any relevant time following the distribution, the Plan Administrator will determine the Participant's Vested Account Balance derived from Employer contributions in accordance with the following formula: P(AB+(RxD))-(RxD).
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Special Vesting Schedule. This Section 18.03 shall apply to the ESOP Accounts in lieu of Section 5.03. Except as provided in Sections 5.01 and 5.02, for each Year of Service, a Participant's Nonforfeitable percentage of his Accrued Benefit attributable to his ESOP Account and derived from Employer contributions equals the percentage in the following vesting schedule: Percent of Years of Service Nonforfeitable with the employer accrued benefit ----------------- --------------- Less than 5 None 5 or more 100% For any Plan Year for which the Plan is top heavy (as defined in Section 1.29) the Advisory Committee will calculate a Participant's Nonforfeitable percentage of his Accrued Benefit attributable to his ESOP Account and derived from Employer Contributions the following schedule: Percent of Years of Service Nonforfeitable with the employer accrued benefit ----------------- --------------- Less than 2 None 2 20% 3 40% 4 60% 5 80% 6 or more 100% The Advisory Committee will apply the top heavy schedule to Participants who earn at least one Hour of Service after the top heavy schedule becomes effective. A shift between vesting schedules under this Section 18.03 is an amendment to the vesting schedule and the Advisory Committee must apply the rules of Section 7.04 accordingly. A shift to a new vesting schedule under this Section 18.03 is effective on the first day of the Plan Year for which the top heavy status of the Plan changes.
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Special Vesting Schedule. 64 18.04 Special Distribution and Payment Requirements...............64 ALPHABETICAL LISTING OF DEFINITIONS Plan Definition Section Reference (Page Number)
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Special Vesting Schedule. If the Participant has not forfeited ------------------------ the shares of Company Stock granted under the Plan or the Option by reason of a failure to meet the performance goal set forth in Section 6(a) of the Plan, the Participant shall become fully vested in all of the shares of Company Stock granted under the Plan and in the Option, and the Option shall be fully exercisable if, at any time following the date the performance goal set forth in Section 6(a) of the Plan is satisfied, the Participant is discharged without Cause or if there is a Change of Control.
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Special Vesting Schedule. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee may, but need not, establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB + (R x D)) - (R x D).
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Related to Special Vesting Schedule

  • Vesting Schedule Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs.

  • Equity Vesting All of the then-unvested shares subject to each of the Executive’s then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the then-outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, all performance goals and other vesting criteria will be deemed achieved at the greater of actual performance or 100% of target levels. Unless otherwise required under the next following two sentences or, with respect to awards subject to Section 409A of the Code, under Section 5(b) below, any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination. For the avoidance of doubt, if the Executive’s Qualified Termination occurs prior to a Change in Control, then any unvested portion of the Executive’s then-outstanding equity awards will remain outstanding for 3 months or the occurrence of a Change in Control (whichever is earlier) so that any additional benefits due on a CIC Qualified Termination can be provided if a Change in Control occurs within 3 months following the Qualified Termination (provided that in no event will the Executive’s stock options or similar equity awards remain outstanding beyond the equity award’s maximum term to expiration). In such case, if no Change in Control occurs within 3 months following a Qualified Termination, any unvested portion of the Executive’s equity awards automatically will be forfeited permanently on the 3-month anniversary of the Qualified Termination without having vested.

  • Vesting Dates The ISOs shall vest as follows, subject to earlier vesting in the event of a termination of Service as provided in Section 6 or a Change in Control as provided in Section 7:

  • Time-Based Vesting Fifty Percent (50%) of the Executive Stock shall vest on each date set forth below (each, a "Vesting Date") as to that number of shares of the Executive Stock set forth opposite such Vesting Date: Vesting Date No. of shares of Executive Stock ------------ -------------------------------- On the first anniversary of the Effective 12.5% of the Executive Stock Date After the first anniversary of the Effective An additional 1.0417% of the Executive Stock Date through the fourth anniversary of the on the first day of each calendar month after the Effective Date first anniversary of the Effective Date until 50% of the Executive Stock is vested

  • Normal Vesting Subject to the Plan and this Agreement, if the Participant has been in Continuous Employment through the Vesting Date as set forth in Section 1, then the RSUs subject to such Vesting Date will become nonforfeitable (“Vest” or similar terms).