Time-Vest definition

Time-Vest or “Vest” means that both (i) such Restricted Share has Performance-Vested and (ii) the applicable service condition has been satisfied.
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Examples of Time-Vest in a sentence

  • The Time-Vest RSUs shall vest in accordance with the vesting schedule provided in the Grant Notice.

  • Each Dividend Equivalent linked to a Time-Vest RSU shall represent the right to receive the cash value of any cash dividend(s) that the Participant would have received in respect of the share of Stock underlying the RSU to which such Dividend Equivalent is linked, had such share of Stock been outstanding on the applicable dividend record date.

  • The Time-Vest RSUs shall vest in two (2) substantially equal installments (rounded down to the nearest whole RSU until the last installment) on each of January 5, 2022 and January 5, 2023.

  • Any amounts payable in respect of Dividend Equivalents linked to Time-Vest RSUs shall be paid in cash or cash equivalents as and when the cash dividends in respect of which such Dividend Equivalent payments arise are paid to holders of Common Stock, without regard to the vested status of the underlying Time-Vest RSUs.

  • Subject to the release requirement set forth below, in the event of the Participant’s Qualifying Termination, the unvested Time-Vest RSUs that are outstanding immediately prior to such Qualifying Termination shall fully vest and become nonforfeitable immediately prior to such Qualifying Termination, and the unvested Performance-Vest RSUs that are outstanding immediately prior to such Qualifying Termination shall vest as provided in Appendix B.

  • The Time-Vest RSUs and the Performance-Vest RSUs shall be subject to the termination of employment rules set forth in Section 5 and Appendix B herein and not any severance, accelerated vesting, or similar provisions of any Employment Agreement.

  • The Time-Vest RSUs shall be subject to any accelerated vesting protections afforded to the Participant in his Employment Agreement, in addition to the protections set forth above in this Grant Notice.

  • As to the Time-Vest RSUs and Performance-Vest RSUs, any provision of an Employment Agreement giving the Participant “better of” (or similar) treatment (e.g., the better of the severance protections afforded in the Employment Agreement or the applicable award agreement) shall not apply.

  • The Time-Vest RSUs shall vest in four substantially equal installments (rounded down to the nearest whole RSU until the last installment) on each applicable Vesting Date.

  • Except as described below in connection with certain terminations of the Participant’s employment or services, the Participant must continue to provide services as an Employee, Consultant or member of the Board through each applicable Vesting Date in order to vest in the applicable installment of Time-Vest RSUs and Eligible Performance-Vest RSUs.

Related to Time-Vest

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

  • 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;

  • Non-Vested Shares means any portion of the Restricted Stock subject to this Agreement that has not become vested pursuant to this Section 2.

  • Vest or “Vesting” means that a portion of the Option granted to the Option Holder which is available to be exercised by the Option Holder at any time and from time to time.

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