Examples of Vesting Factor in a sentence
The Executive shall be treated as qualified for “Retirement” (as defined in the SERP) as of the Date of Termination, and the Executive’s Vesting Factor with respect to the Supplemental Retirement Benefit shall be 100%.
If the Participant remains in Continuous Service through and including the Determination Date and no Change in Control occurs prior to the Determination Date, then the Participant shall be entitled to receive a number of shares of Stock determined by multiplying the Target Amount by the Applicable Vesting Factor.
Notwithstanding the provisions of subsection 3(b), upon a Change in Control, the Vesting Factor (described in Section 3(b)) shall be the percentage determined by dividing the years of service of the Employee (computed in accordance with the provisions of Section 3(b)) by 15.
Bills, Payroll RecordsAfter receiving confirmation from Fund staff that the presented payments were consistent with the administrative budget approved for 2021, it was moved by Trustee McFadden and seconded by Trustee Blair that the action taken by Fund staff in remitting the indicated payments for the presented bills and payroll records in August, 2021, be ratified and that the Board approve the recommendations from Fund staff to remit payments for expenses incurred in August, 2021.
Assuming an award of 150 Performance Shares, and an Early Retirement Vesting Factor is 0.24 the Adjusted Performance Shares would be 36.