Earned and Vested definition

Earned and Vested means, when referring to an Allowance or any portion of an Allowance, an amount that, as of January 1, 2005, is not subject to a substantial risk of forfeiture (as defined in Treasury Regulation §1.83-3(c)) or a requirement to perform future services.
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Earned and Vested means amounts deferred under the Prior Plan, if any, to which a Participant had a nonforfeitable right to receive as of December 31, 2004. Such amounts are considered Grandfathered Amounts. The term Earned and Vested is only applicable to a plan that is an amendment, restatement, and continuation of a Prior Plan, as indicated in Section 4 of the Adoption Agreement.
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Examples of Earned and Vested in a sentence

  • Notwithstanding the foregoing provisions of this paragraph (i), effective for Determination Dates occurring on or after May 1, 2008, the number of Shares or Share Equivalents so credited to the Participant’s Career Share Account shall be limited to that number needed to satisfy the Participant’s MSOR, and the balance, if any, of such Earned and Vested Performance Shares shall be administered without regard to the provisions of this Plan.

  • If a Participant has not satisfied all applicable Minimum Stock Ownership Requirements on or before a Determination Date applicable to Performance Shares that have been awarded to such Participant, the Participant’s Career Share Account shall be credited with the number of Shares or Share Equivalents that become Earned and Vested (reduced, however, to the extent of any Applicable Tax Payments) for the Participant as a result of the award of such Performance Shares.

  • A Participant’s Career Share Account shall be credited to the extent otherwise described in this Section 5.3(b) even if the Participant shall have satisfied all applicable MSOR or shall have ceased to remain an Eligible Employee during the period between the Determination Date and the date the Performance Shares or Annual Incentive Compensation are Earned and Vested.

  • On the Payment Date, the Company shall issue to the Employee that number of shares of Common Stock as equals that number of Units which have been both Earned and Vested.

  • The Share Equivalents that are disregarded pursuant to subparagraph 5.3(b)(i)(B) may include those attributable to Performance Shares that had become Earned and Vested and thereupon credited to such Participant’s Career Share Account, and as a result, such Career Share Account may be credited with Share Equivalents in excess of the number actually needed to satisfy the highest MSOR that is applicable to such Participant as of the applicable Determination Date.

  • A Participant’s Career Share Account shall be credited to the extent otherwise described in this Section 5.3(b) even if the Participant shall have satisfied all applicable MSOR or shall have ceased to remain an Eligible Employee during the period between the Determination Date and the date the Performance Shares are Earned and Vested.

  • Except as provided in Section 5.6 below, in the event that Employee unilaterally elects to terminate his employment, the Company shall have no further obligations to make any payments under this Agreement and Employee shall forfeit any right to such payments, except for Earned and Vested Benefits.

  • In the event of the death or Disability of the Employee, the Company shall pay Employee (or any estate, beneficiary or legal representative of Employee) all Earned and Vested Benefits.

  • FY19 PRUs Granted, Earned and Vested NEO Total FY19 PRUsGranted (#) Total FY19 PRU Value at Grant ($) Total FY19 FCF PRUs Earned (#) Total FY19 EPS PRUsEarned (#)Total3-Year TSR PRUsEarned (#) Total FY19 PRUsEarned Total FY19 PRUsvestedGregory S.

  • Notwithstanding any other provision of this Section 5, in the event that Employee's employment is terminated by the Company without Cause or if Employee resigns for Good Reason (hereinafter defined), Employee shall receive all Earned and Vested Benefits and as a severance benefit, the Employee shall receive the Base Salary provided for in Section 3 hereof throughout the remainder of the Term of this Agreement.

Related to Earned and Vested

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

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

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Earned release means earned release from confinement as

  • PSU means Public Sector Undertaking

  • Forfeited means the Insured’s financial Loss of any whole or prorated prepaid

  • Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan, to the Participant's Accrued Benefit.

  • DSUs means the deferred share units granted under the DSU Plan;

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • housing benefit means housing benefit under Part 7 of the SSCBA;

  • Termination due to Disability means a termination of the Executive’s employment by the Company because the Executive has been incapable, after reasonable accommodation, of substantially fulfilling the positions, duties, responsibilities and obligations set forth in this Agreement because of physical, mental or emotional incapacity resulting from injury, sickness or disease for a period of (A) six (6) consecutive months or (B) an aggregate of nine (9) months (whether or not consecutive) in any twelve (12) month period. Any question as to the existence, extent or potentiality of the Executive’s disability shall be determined by a qualified physician selected by the Company with the consent of the Executive, which consent shall not be unreasonably withheld. The Executive or the Executive’s legal representatives or any adult member of the Executive’s immediate family shall have the right to present to such physician such information and arguments as to the Executive’s disability as he, she or they deem appropriate, including the opinion of the Executive’s personal physician.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Multiple disabilities means concomitant impairments, the combination of which causes such severe educational problems that programs designed for the separate disabling conditions will not meet the student’s educational needs.

  • Two-year claim limitation means no benefit is payable for any claim submitted two years or more from the date of admission or service provision.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • 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.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Vested means the nonforfeitable portion of any account maintained on behalf of a Participant.

  • Account Value means the amount shown on Schedule A under the heading Account Value. The parties expressly acknowledge that the Account Value may be different than the liability that should be accrued by the Bank, under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s obligation to the Executive under this Agreement. The Account Value on any date other than the end of a Plan Year shall be determined by adding the prorated increase attributable for the current Plan Year to the Account Value for the previous Plan Year.

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.