Time-Based Vesting definition

Time-Based Vesting. The shares shall vest if and as employment continues, at the times and in the amounts as set forth below: July 17, 2004 14,583 shares July 17, 2005 14,583 shares July 17, 2006 14,583 shares July 17, 2007 14,583 shares July 17, 2008 14,583 shares July 17, 2009 14,585 shares Performance Vesting: In addition, 215,000 shares shall vest (subject to clauses (i) and (ii) below) if and as employment continues, at the times and in the amounts as set forth below: July 17, 2004 25,417 shares July 17, 2005 25,417 shares July 17, 2006 25,417 shares July 17, 2007 35,417 shares July 17, 2008 45,417 shares July 17, 2009 45,417 shares January 1, 2010 12,498 shares With respect to such 215,000 shares, such amounts are subject to the achievement of certain annual criteria set forth below:
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Examples of Time-Based Vesting in a sentence

  • The Time-Based Vesting Criteria applicable to any Tranche are referred to as “Vesting Conditions,” and the date upon which all Vesting Conditions applicable to that Tranche are satisfied is referred to as the “Vesting Date” for such Tranche.

  • Subject to Sections 3 and 4, one-third of the Time-Based RSU Shares shall vest on each of the Time-Based Vesting Dates.

  • Notwithstanding any determination by the Committee that the Performance Objective has been attained with respect to particular Options, such Options shall not be considered to have vested unless and until the Optionee has satisfied the Time-Based Vesting Criteria applicable to such Options.

  • Notwithstanding any determination by the Committee that the Performance Objective has been attained with respect to particular RSUs, such RSUs shall not be considered to have vested unless and until the Participant has satisfied the Time-Based Vesting Criteria applicable to such RSUs.

  • Such pro rata portion shall equal (A) the number of unvested Time-Based RSU Shares as of such termination, multiplied by (B) a fraction, the numerator of which shall be the number of full months between the Time-Based Vesting Date that immediately precedes such termination and the termination date and the denominator of which shall be the number of full months between the Time-Based Vesting Date that immediately precedes such termination and the final Time-Based Vesting Date.

  • Notwithstanding any determination by the Committee that the Performance Objective (if any) has been attained with respect to a particular Tranche, such Tranche shall not be considered to have vested unless and until the Participant has satisfied the Time-Based Vesting Criteria applicable to such Tranche.

  • The Performance Objective (if any) and Time-Based Vesting Criteria applicable to any Tranche are collectively referred to as “Vesting Conditions,” and the date upon which all Vesting Conditions applicable to that Tranche are satisfied is referred to as the “Vesting Date” for such Tranche.

  • Any Time-Based RSU Shares that do not vest on the first Time-Based Vesting Date following such termination shall be forfeited without any payment to the Participant.

  • As soon as practicable and within 30 days following each Time-Based Vesting Date, the Company shall deliver to the Participant the portion of the Time-Based RSU Shares that vests on such Time-Based Vesting Date.

  • Upon Participant’s death, a pro rata amount of each unvested Tranche shall become vested based on the number of complete twelve-month periods between the Date of Grant and the date of the Participant’s death divided by the total number of twelve-month periods between the Date of Grant and the Time-Based Vesting Date applicable to such Tranche.

Related to Time-Based Vesting

  • 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.

  • Initial Vesting Date means the date occurring one (1) year after the Date of Option Grant.

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Performance-Based Restricted Stock means Shares issued or transferred to an Eligible Individual under Section 9.2.

  • Normal Vesting Date means the date on which an Award Vests under Rule 6.1 (Timing of Vesting: Normal Vesting Date), in the absence of an Early Vesting Date;