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).

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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 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.

Examples of Vested Amount in a sentence

• No Stock will be issued to you until you have accrued a Vested Amount on the respective Vesting Date.

• Subject to the limitations of Section 15 and except as otherwise provided herein, this Grant shall terminate upon the earlier of the date of your Separation from Service or the date your Vested Amount equals the amount of the Stock Award in the introductory paragraph.

• Your Stock Award will become fully vested and nonforfeitable upon your death or disability (as such term is defined in the Plan), or at such time as your Vested Amount equals the amount of the Stock Award specified in the introductory paragraph.

• If Executive is an employee of Company or any Affiliate but has received written notice from Company of its election to discontinue vesting hereunder as to Executive, Executive shall be entitled to receive from Company, within 60 days after such notice, and at Company's sole election, either (a) the Vested Amount paid as provided in A.

• Notwithstanding the forgoing, in the event that the Special Vesting Event as described above occurs on or after a Change of Control, then the term Additional Vested Amount shall mean the sum of (A) the Target DRU Award with respect to an additional full Tranche plus (B) if the Special Vesting Event occurs prior to February 1, 2021, the amount that would constitute the Additional Vested Amount under the immediately preceding sentence in the absence of a Change of Control.

More Definitions of Vested Amount

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.

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.

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

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, with respect to a given Vesting Tranche, be a function of the Company’s Total Shareholder Return during the applicable Performance Period relative to members of the Peer Group, determined as follows: 35th Percentile 0 0 0 0 50th Percentile 29,072 29,072 29,072 29,073 75th Percentile 50,876 50,877 50,876 50,877 In the event that the relative Total Shareholder Return during a given Performance Period falls between any of the stated percentile values above, the Vested Amount for the applicable Vesting Tranche shall be determined using a linear interpolation from the next lowest stated percentile value, rounded down to the next whole share. For example, if the Company’s Total Shareholder Return during a the Performance Period for Tranche 1 is in the 40th percentile relative to the Peer Group, the Vested Amount for Tranche 1 would equal 9,690, and if the Company’s Total Shareholder Return during such Performance Period is in the 60th percentile relative to the Peer Group, the Vested Amount for such Vesting Tranche would equal 37,793. For all purposes of this Grant Notice, the Plan, the Employment Agreement, and any other agreement between the Holder and the Company, relative Total Shareholder Return in the 50th percentile among the Peer Group shall be deemed to be “target” performance, and any references in the Employment Agreement to the “Target Number” shall be references to the number of shares in the Vested Amount at “target” performance. No shares of Restricted Stock in a given Vesting Tranche shall vest if the Company’s Total Shareholder Return for the applicable Performance Period relative to the Peer Group is at or below the 35th percentile. The maximum Vested Amount for any given Vesting Tranche shall be the Vested Amount set forth for such Vesting Tranche in the table above for a Total Shareholder Return in the 75th percentile relative to the Peer Group.