LTIP Vesting Clause Samples
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LTIP Vesting. The termination of Employee’s employment with the Company shall be “without cause” as defined in the LTIP. Employee’s 2016 LTIP award will vest in accordance with its terms on March 4, 2019. The Target I, II and III Awards within the Employee’s 2017 and 2018 LTIP Awards shall vest upon Employee’s termination in accordance with the terms of the 2017 and 2018 LTIP Awards, provided, however, Employee’s vesting shall be in proportion to the number of months, including any partial month, elapsed during the performance period divided by 36, as provided under the terms of the LTIP. The number of common shares to be vested on a pro rata basis for Employee’s Target II and III Awards shall remain contingent on the Company’s actual performance over the applicable performance period.
LTIP Vesting. On the Termination Date all Performance Shares to the extent earned by and awarded to Executive (i.e. as to which the first year of the performance cycle has elapsed) as of the Termination Date, shall become fully vested at the actual level earned and awarded, and, to the extent not yet earned by and awarded to Executive (i.e., as to which the first year of the performance cycle has not elapsed) as of the Termination Date, shall be forfeited. Payment under this Section 8.6(d) shall be made according to the terms of the LTIP, as in effect from time to time.
LTIP Vesting. All Long-Term Incentive Compensation Plan (“LTIP”) grants made to Executive prior to the Effective Date shall continue to vest during the Term as provided for in those grants.