Treatment of Forfeitures Sample Clauses

Treatment of Forfeitures. Forfeitures of Excess Aggregate Contributions shall be allocated to Participants' Accounts or applied to reduce Employer contributions, as elected by the Employer in the Adoption Agreement, under Section 4.2. If forfeitures are reallocated to the accounts of Participants under Section 4.2, forfeitures of Excess Aggregate Contributions shall be allocated in the same manner as Matching Contributions, except that no such forfeitures shall be allocated to any Highly Compensated Employee.
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Treatment of Forfeitures. 3.7.1 If the Employer has elected in the Adoption Agreement to reallocate forfeitures for a Plan Year among Participants, then such forfeitures, if any, shall be allocated as of the last day of the Plan Year to the Employer Accounts of those Participants who are eligible to share in the allocation of contributions to that particular Employer Account (whether or not a contribution was made for that Plan Year) for that Plan Year in that particular Employer Account category with respect to which such forfeitures are attributable. If the Plan is a Target Benefit Plan, forfeitures may only be used to reduce Employer Contributions, in accordance with Section 3.7.2.
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Treatment of Forfeitures. Forfeitures under subsection (a) above will initially be transferred to a Forfeiture Suspense Account and later either be restored to the Participant’s applicable Account or Accounts or be transferred to a Forfeiture Account as follows.
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Treatment of Forfeitures. (a) If a Participant who is not fully vested in his Accounts terminates employment, that portion of his Accounts in which he is not vested shall be forfeited upon the earlier of:
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Treatment of Forfeitures. 31 3.8 Establishing of Accounts . . . . . . . . . . . . . . . . . . . 31 3.9 Limitation on Amount of Allocations. . . . . . . . . . . . . . 32 3.10 Return of Employer Contributions Under Special Circumstances . 39
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Treatment of Forfeitures. The nonvested portion of a -- ------------------------ Participant's account under the Plan shall constitute a forfeiture. Any such forfeiture with respect to a Company Discretionary Contribution Account shall be reallocated to the accounts of those persons who, on the Anniversary Date ending the Plan Year during which the forfeiture occurred are eligible to participate in Company Discretionary contributions to the Plan for such Plan Year, and shall be allocated in the same manner as Company Discretionary contributions to the Plan are allocated pursuant to subparagraph 8. G. hereinabove. Any such forfeiture of a Participant's -- -- Matching Company Contribution Account shall be used to reduce the Company's Matching Company Contributions to the Plan, and shall not be used to increase the benefits of the Participants and Beneficiaries.
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Treatment of Forfeitures. 32 3.8 Establishing of Accounts......................................................................33 3.9 Limitation on Amount of Allocations...........................................................34 3.10 Return of Employer Contributions Under Special Circumstances..................................42 Article 4 VESTING.............................................................................................42 4.1
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Treatment of Forfeitures. 11.1 Forfeitures attributable to Employer Regular Matching Contribution Accounts will be [check one]: [Plan Sec. 5.1(f)] a. o N/A – the Plan provides for full and immediate vesting of Employer Regular Matching Contribution Accounts.
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Related to Treatment of Forfeitures

  • Allocation of Forfeitures NOTE: Subsections (a), (b) and (c) below apply to forfeitures of amounts other than Excess Aggregate Contributions.

  • Lapse of Forfeiture Restrictions The Forfeiture Restrictions -------------------------------- shall lapse as to the Restricted Shares in accordance with the following schedule provided that Employee has been continuously employed by the Company from the date of this Agreement through the lapse date: Percentage of Total Number of Restricted Shares as to Which Forfeiture Lapse Date Restrictions Lapse ---------- -------------------------- First Anniversary of the date of this Agreement 10% Second Anniversary of the date of this Agreement 10% Third Anniversary of the date of this Agreement 10% Fourth Anniversary of the date of this Agreement 10% Fifth Anniversary of the date of this Agreement 10% Sixth Anniversary of the date of this Agreement 10% Seventh Anniversary of the date of this Agreement 10% Eighth Anniversary of the date of this Agreement 10% Ninth Anniversary of the date of this Agreement 10% Tenth Anniversary of the date of this Agreement 10% Notwithstanding the foregoing, the Forfeiture Restrictions shall lapse as to all of the Restricted Shares on the earlier of (i) the occurrence of a Corporate Change (as such term is defined in the Plan), (ii) the date Employee's employment with the Company is terminated by reason of death, disability (as determined by the Company or employing subsidiary) or normal retirement on or after age sixty-five or (iii) the date on which Employee shall become entitled to the severance benefits set forth in Section 3.3 of that certain Executive Employment Agreement of even date herewith by and among Employee, NUMAR Corporation and the Company. In the event Employee's employment is terminated for any other reason, including retirement prior to age sixty-five with the approval of the Company or employing subsidiary, the Committee which administers the Plan (the "Committee") or its delegate, as appropriate, may, in the Committee's or such delegate's sole discretion, approve the lapse of Forfeiture Restrictions as to any or all Restricted Shares still subject to such restrictions, such lapse to be effective on the date of such approval or Employee's termination date, if later.

  • Expiration of Restrictions and Risk of Forfeiture Unless otherwise provided in Section 7 below, the restrictions on the Restricted Stock Units granted pursuant to this Agreement, including the Forfeiture Restrictions, will expire on September 30, 2014, and shares of Stock that are nonforfeitable and transferable will be issued to you in payment of your vested Restricted Stock Units as set forth in Section 5, provided that you remain in the continuous employ of, or a service provider to, the Company or its Subsidiaries until September 30, 2014.

  • Risk of Forfeiture Participant shall immediately forfeit all rights to any shares of the Restricted Stock which have not vested and with respect to which the restrictions thereon have not lapsed in the event of the termination, resignation, or removal of Participant from Employment with the Company or any Affiliate under circumstances that do not cause Participant to become fully vested, and the restrictions on such shares of Restricted Stock to lapse, under the terms of the Plan.

  • Treatment of Stock Options 6 ARTICLE III.

  • Forfeiture of Units All Units granted shall be forfeited if, prior to the removal of restrictions on the Units awarded hereunder as provided below in Section 8, the Grantee has a voluntary or involuntary Termination of Service for any reason other than as described below in Section 5. Each Grantee, by his or her acceptance of the Units, agrees to execute any documents requested by the Company in connection with such forfeiture. Such provisions with respect to forfeited Units shall be specifically performable by the Company in a court of equity or law. Upon any forfeiture, all rights of the Grantee with respect to the forfeited Units shall cease and terminate, without any further obligation on the part of the Company.

  • TREATMENT OF FRINGE BENEFITS The fringe benefits are charged using the rate(s) listed in the Fringe Benefits Section of this Agreement. The fringe benefits included in the rate(s) are listed below. TREATMENT OF PAID ABSENCES Vacation, holiday, sick leave pay and other paid absences are included in salaries and wages and are claimed on grants, contracts and other agreements as part of the normal cost for salaries and wages. Separate claims are not made for the cost of these paid absences. OFF-CAMPUS DEFINITION: The off-campus rate will apply for all activities: a) Performed in facilities not owned by the institution and where these facility costs are not included in the F&A pools; or b) Where rent is directly allocated/charged to the project(s). Grants or contracts will not be subject to more than one F&A cost rate. If more than 50% of a project is performed off-campus, the off-campus rate will apply to the entire project. TREATMENT OF FRINGE BENEFITS: This organization uses fringe benefit rates for estimating direct fringe benefit costs on grant applications and contract proposals. For cash claims and final reporting purposes, the following fringe benefits are specifically identified to each employee and charged individually as direct costs: FICA, FICA Medical, Health Insurance and Retirement. The following benefits are covered by the rates listed in Section I: Workers' Compensation, Unemployment Compensation, Terminal Leave, Severance Pay, Employee Assistance Program, Tuition Waivers, and Short/Long Term Disability. Equipment means tangible personal property (including information technology systems) having a useful life of more than one year and a per-unit acquisition cost which equals or exceeds the lesser of the capitalization level established by the non-Federal entity for financial statement purposes, or $5,000. The next Fringe Benefits rates proposal for FYE 06/30/2022 is due in our office by 12/31/2022. *This Rate Agreement updates the F&A section only*. The next F&A rates proposal based on FYE 06/30/2024 is due in our office by 12/31/2024.

  • Term; Forfeiture a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur:

  • Vesting; Forfeiture Subject to the terms and conditions of this Agreement and provided that the Participant continues to provide services until the Vesting Date (as defined below):

  • Forfeiture of Founder Shares To the extent that the Underwriters do not exercise their option to purchase additional Units within 45 days from the date of the Prospectus in full (as further described in the Prospectus), the Sponsor agrees to automatically surrender to the Company for no consideration, for cancellation at no cost, an aggregate number of Founder Shares so that the number of Founder Shares will equal of 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time. The Sponsor and Insiders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will effect a share capitalization or a share repurchase, as applicable, with respect to the Founder Shares immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20% of the sum of the total number of Ordinary Shares and Founder Shares outstanding at such time.

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