Vesting Provision Sample Clauses

Vesting Provision. Grantee’s interest in the Restricted Stock shall vest in accordance with performance achievement, and certain holding periods as follows, and as adopted by the Company’s Compensation Committee of the Board of Directors: The target performance goal for initial vesting is the achievement in the year 2011 of pre-bonus, pre-performance LTI expense, pre-tax adjusted operating earnings, not including, impairment and pension settlement and pension amortization, but including restructuring, yielding approximately $__ per share (“Performance Goal”). Fifty per cent of the Target Award shall be earned upon achievement of threshold performance, and a greater number of shares can be earned upon achievement of over-target performance, up to a maximum of One Hundred Fifty per cent of the Target Award. Upon achievement of no less than the threshold Performance Goal, 25% of the eligible Restricted Stock will vest following public announcement of the Company’s earnings with respect to the 2011 fiscal year end financial statements, and the approval of the Compensation Committee. Thereafter, on the second anniversary of the Award Date, an additional 25% of the eligible Restricted Stock will vest, and on the third anniversary of the Award Date, the remaining 50% of the eligible Restricted Stock will vest. In the event the minimum threshold Performance Goal is not met by year-end 2011, then all Restricted Stock shall be cancelled. The Compensation Committee or the Section 162(m) Subcommittee, as the case may be, shall have the sole authority to determine, in its sole but reasonable discretion, whether the Performance Goal has or has not been achieved. In the event Grantee’s employment with the Company is terminated prior to any vesting date, the unvested shares of Restricted Stock granted to Grantee pursuant to this Agreement shall be immediately forfeited and canceled as of his date of termination without any payment therefore; provided, however, that (i) if Grantee leaves the Company due to death or permanent and total disability prior to the end of 2011, then a pro-rated number of shares of Restricted Stock received by Grantee pursuant to this Agreement shall continue to be subject to the vesting provision, and (ii) if Grantee leaves the Company due to death or permanent and total disability after the end of 2011 and at least threshold performance was achieved for 2011, then all eligible shares of Restricted Stock shall continue to vest according to the vesting schedule desc...

Vesting Provision. This Warrant shall vest and become exercisable in accordance with Appendix A attached hereto. Any interpretation of the rules and the performance of responsibilities in connection with the vesting provisions in Appendix A shall be at the Company’s sole discretion.

Vesting Provision. Grantee’s interest in the Restricted Stock shall vest in accordance with performance achievement, and certain holding periods as follows, and as adopted by the Company’s Compensation Committee of the Board of Directors: The target performance goal for initial vesting is the achievement in the year 2010 of pre-tax adjusted operating earnings, not including restructuring, impairment and pension amortization of ______ (“Performance Goal”). Fifty per cent of the Target Award shall be earned upon achievement of threshold performance, and a greater number of shares can be earned upon achievement of over-target performance, up to a maximum of One Hundred Fifty per cent of the Target Award. Upon achievement of no less than the threshold Performance Goal, 25% of the eligible Restricted Stock will vest following public announcement of the Company’s earnings with respect to the 2010 fiscal year end financial statements, and the approval of the Compensation Committee. Thereafter, on the second anniversary of the Award Date, an additional 25% of the eligible Restricted Stock will vest, and on the third anniversary of the Award Date, the remaining 50% of the eligible Restricted Stock will vest. In the event the minimum threshold Performance Goal is not met by year-end 2010, then all Restricted Stock shall be cancelled. The Compensation Committee shall have the sole authority to determine, in its sole but reasonable discretion, whether the Performance Goal has or has not been achieved. In the event Grantee’s employment with the Company is terminated prior to any vesting date, the unvested shares of Restricted Stock granted to Grantee pursuant to this Agreement shall be immediately forfeited and canceled as of his date of termination without any payment therefore; provided, however, that (i) if Grantee leaves the Company due to death or permanent and total disability prior to the end of 2010, then a pro-rated number of shares of Restricted Stock received by Grantee pursuant to this Agreement shall continue to be subject to the vesting provision, and (ii) if Grantee leaves the Company due to death or permanent and total disability after the end of 2010 and at least threshold performance was achieved for 2010, then all eligible shares of Restricted Stock shall continue to vest according to the vesting schedule described herein.

Vesting Provision. Grantee’s interest in the Restricted Stock shall vest in accordance with performance achievement as follows, and as adopted by the Company’s Compensation Committee of the Board of Directors: The performance goal for vesting is achievement in the year 2007 of (PERFORMANCE GOAL REDACTED) (“Performance Goal”). Vesting of the Restricted Stock grant will be accelerated in the event the Performance Goal is met before 2007, to wit, if the Performance Goal is first met in 2005 or 2006, thirty percent (30%) of the Restricted Stock grant will vest; if the initial attainment of the Performance Goal is achieved in 2005, and the Performance Goal is met again in 2006, the remaining Restricted Stock grant will fully vest then. When the Performance Goal is met in these events, vesting shall occur following announcement of the Company’s earnings with respect to the fiscal year end financial statements, and the approval of the Compensation Committee. In the event the Performance Goal is not met in whole or in part by year-end 2007, then all the remaining Restricted Stock shall be cancelled upon the latter to occur of: (i) February 23, 2008, or, (ii) immediately following the record date for dividends with respect to the first quarter, 2008, if any. In the event Grantee’s employment with the Company is terminated prior to full vesting, the remaining number of unvested shares of Restricted Stock granted to Grantee pursuant to this Agreement shall be immediately forfeited and canceled as of his date of termination without any payment therefore; provided, however, that if Grantee leaves the Company as a result of retirement in accordance with the Company’s normal retirement policy after age 62, or due to death or permanent and total disability, then all shares of Restricted Stock received by Grantee pursuant to this Agreement shall continue to be subject to the vesting provision.

Vesting Provision. The only Employees who are eligible to participate for purposes of accruing a benefit under this Plan are USW-Represented Employees who work in Covered Employment for a Participating Employer and are therefore fully vested at the inception of this Plan.