Vested Amount definition

Vested Amount means, with respect to each Option, a percentage of the shares for which the Option has become exercisable (subject to the further terms of the Plan) by application of the schedule set forth in Section 4(b).

Vested Amount means the portion of an Account equal to the Restricted Stock Units credited to such Account multiplied by the applicable vested percentage specified in the Participant’s vesting schedule.

Vested Amount means the percentage of a Participant's Accrued Benefit which is nonforfeitable. The Vested Amount with respect to a Participant shall be 100% upon the occurrence of any of the following events: (a) attainment of his or her Normal Retirement Age, (b) the Participant's Disability as provided in Article 4, (c) the Participant's death as provided in Article 5, and (d) a Change of Control as described in Article 10. Upon a Participant's termination of employment for any other reason, except as provided in Section 6.2, the Participant's nonforfeitable percentage shall be equal to the percentage used in determining his or her Accrued Benefit. If a Participant's termination of employment is subject to Section 6.2, his or her nonforfeitable percentage shall be zero.

Examples of Vested Amount in a sentence

• In the event the Vested Amount is paid in shares of Common Stock, if the calculation set forth in the preceding sentence results in fractional shares, the Company shall round such number of shares to the nearest whole number; provided, that if such number is rounded down, the Company shall pay to the Employee an amount in cash equal to the fractional shares based on the Fair Market Value thereof.

• Unless sooner terminated as provided in this Plan, in the event of the death or Disability of an Optionee while employed or engaged by the Company (as the case may be), Options held by such Optionee that are exercisable on the date of Disability or death shall be exercisable up to the Vested Amount as of the date of Disability or death for a period of twelve (12) months commencing on the date of the Optionee's Disability or death.

• If you are terminated without Cause, resign for Good Reason, or your employment ceases as a result of your death or disability (any of the foregoing, a “Non-Cause Termination”), your Initial Vested Amount (if not already vested) plus unvested RSUs equal to 30% of the RSU’s subject to the Initial Award (or such smaller number of unvested RSU’s) shall be deemed to be vested as of the effective date of such Non-Cause Termination.

• The Administrator may, but need not, determine that the Vested Amount of each Option shall be exercisable only upon the earlier to occur of: (i) the consummation of a Public Offering; or (ii) the consummation of a Sale of the Company.

• During prior years, the Company granted the following options and recognized the 2007 vested amount as follows: Grant date Granted Exercise price Fair Value 2007 Vested Amount 5 November 2004 2,000,000 $0.64 $433,335 $2,167 13 July 2005 100,000 $0.40 $16,959 $5,653 3 February 2006 350,000 $0.40 47,052 22,100 19 April 2006 440,000 $0.40 69,730 56,640 Total 2,890,000 $567,076 $86,560 The total estimated fair value of the 2,890,000 options is $567,076.

More Definitions of Vested Amount

Vested Amount is the number of Restricted Stock Units that vest on the Vesting Date, adjusted upward or downward from the Target Amount based on the achievement of the goals described in Appendix A.

Vested Amount means the portion of a Participant's Award which is nonforfeitable.

Vested Amount means the percentage of a Participant's Accrued Benefit which, subject to Section 6.2, is nonforfeitable. The Vested Amount with respect to a Participant who has completed five Years of Service or who has attained age 65 shall be 100%. Except as otherwise provided in Article 10 (regarding a Change of Control), the Vested Amount of a Participant who has not completed five Years of Service or attained age 65 shall be 0%. If the Participant has attained age 65, the Vested Amount will be 100%.

Vested Amount means, with respect to each Option, a percentage of the shares for which the Option has become exercisable, subject to the further terms of the Plan.

Vested Amount has the meaning set forth in Section 3.15.7.

Vested Amount has the meaning in Section 2.1(b)(i) hereof.

Vested Amount shall equal the sum of (i) Executive’s current annual base salary, which is $425,000, (ii) an amount equal to the cash bonus that Executive would have been entitled to receive from the Company for 2015 if Executive had not resigned based on the bonus criteria previously communicated to Executive and estimated results for 2015, as determined by the Compensation Committee of the Board of Directors of the Company in good faith on or before December 20, 2015 (the “2015 Bonus Amount”) and (iii) an amount equal to the average of the Executive’s cash bonus for 2014, which was $371,000, and the 2015 Bonus Amount. The “Unvested Amount” shall equal the dollar amount that would have been used to determine the equity bonus that Executive would have been entitled to receive from the Company for 2015 if Executive had not resigned based on the bonus criteria previously communicated to Executive and estimated results for 2015, as determined by the Compensation Committee of the Board of Directors of the Company in good faith on or before December 20, 2015. Promptly after the determination of the Vested Amount and the Unvested Amount (and, in any event, at least three business days prior to the Resignation Date), the Company will notify Executive of the amounts of the Vested Amount and the Unvested Amount and provide Executive with a spreadsheet (the “Spreadsheet”) containing the details of the calculation of such amounts in the form agreed upon by Executive and the Company. Executive will receive dividends on all vested and unvested LTIPS in accordance with Company policy and in the same manner as those received by other LTIP holders.