Forfeitable Right definition

Forfeitable Right means the right to payment of Base Salary and/or Incentive Compensation in a subsequent year that is subject to a forfeiture condition requiring the Eligible Associate to remain an associate with the Company or a Subsidiary through at least the 12-month anniversary of the date on which the Eligible Associate obtains the legally binding right to the Forfeitable Right. For purposes of this Section 21 and Section 2(ii)(2) of Article II, a Forfeitable Right will be considered to be subject to a forfeiture condition even if such right to payment could become nonforfeitable upon death, disability (as defined in Treasury Regulation Section 1.409A-3(i)(4)), or a change in control event (as defined in Treasury Regulation Section 1.409A-3(i)(5)).
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Forfeitable Right means an amount to which a Participant has a legally binding right that is payable in a subsequent year and requires continued service by the Participant for a period of at least twelve (12) months to avoid forfeiture of such amount.
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Forfeitable Right means the right to payment of Base Salary, Incentive Compensation and/or Excess Core Contributions in a subsequent year that is subject to a forfeiture condition requiring the Eligible Employee to remain an employee with the Company or a Subsidiary through at least the 12-month anniversary of the date on which the Eligible
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Examples of Forfeitable Right in a sentence

  • To the extent permitted by Section 409A of the Code, the Company may permit an Eligible Employee to make a Deferral Election with respect to a Forfeitable Right no later than the Forfeitable Rights Filing Date so long as such Forfeitable Right remains subject to a forfeiture condition through the 12-month anniversary of the date on which the Eligible Employee makes such Deferral Election.

  • To the extent permitted by Section 409A of the Code, the Company may permit an Eligible Associate to make a Deferral Election with respect to a Forfeitable Right no later than the Forfeitable Rights Filing Date so long as such Forfeitable Right remains subject to a forfeiture condition through the 12-month anniversary of the date on which the Eligible Associate makes such Deferral Election.

Related to Forfeitable Right

  • Restricted Share Unit means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.

  • Restricted Share means a Share awarded to a Participant pursuant to Article 6 that is subject to certain restrictions and may be subject to risk of forfeiture.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Forfeiture means that portion of a Participant's Account that is not Vested, and occurs on the earlier of:

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Company Restricted Share means each restricted share of Company Common Stock outstanding as of the Effective Time granted pursuant to any equity or compensation plan or arrangement of the Company.

  • Vested means the nonforfeitable portion of any account maintained on behalf of a Participant.