Examples of Vesting Period in a sentence
The Share Option (including both vested and unvested Shares) shall become void and the Entitled Person shall not be entitled to the Share Option, if the Contract is terminated during the Vesting Period due to any circumstances other than those described under the section “Good Leaver” above.
Based on the use of the closing price for the Billerud share on 3 March, 2011, a theoretical assumption of a yearly increase of 10% of the share price, a 59% fulfillment of the performance conditions and estimations on turnover of personnel and a Vesting Period of three years, the cost for LTIP 2011 including social security costs equals approximately SEK 9,000,000, which is on annualized basis equivalent to approximately 0.2% of Billerud’s total staff costs for the financial year 2010.
An SAR may be exercised (i) by giving written notice to the Company specifying the whole number of SARs which are being exercised and (ii) by executing such documents as the Company may reasonably request.(d) Minimum Vesting Period.
Matching Share RightFor each Saving Share that the participant invests in and locks in to LTIP 2011, the participant is, free of charge, allotted one (1) Matching Share Right, which entitles the participant to, free ofcharge, receive one (1) Billerud share, based on the following conditions: (i) he participant must remain employed within the Billerud Group during the Vesting Period; and (ii) all Saving Shares must be retained during the Vesting Period.
The Committee shall, as soon as reasonably practicable following the completion of the Vesting Period applicable to a Performance Share Award determine, in its sole discretion, the “ Vesting Percentage”.