Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table:
Vesting Factor with respect to the Supplemental Retirement Benefit shall be one hundred percent (100%). The Executive’s Supplemental Retirement Benefit shall be calculated based on the Executive’s actual age as of the date of commencement of payment of such Supplemental Retirement Benefit (the “SERP Distribution Date”), and by applying the applicable early retirement factors under the SERP, if the Executive has not attained age sixty-two (62) but has attained age fifty-five (55) as of the SERP Distribution Date. If the Executive has not attained age fifty-five (55) as of the SERP Distribution Date, the Executive’s Supplemental Retirement Benefit shall be calculated by applying the applicable early retirement factor under the SERP for age fifty-five (55), and the Supplemental Retirement Benefit otherwise payable at age fifty-five (55) shall be actuarially adjusted to the Executive’s actual age as of the SERP Distribution Date using the following actuarial assumptions: (i) the applicable mortality table promulgated by the Internal Revenue Service under Section 417(e)(3) of the Code, as in effect on the first (1st) day of the calendar year in which the SERP Distribution Date occurs, and (ii) the applicable interest rate promulgated by the Internal Revenue Service under Section 417(e)(3) of the Code for the November next preceding the first day of the calendar year in which the SERP Distribution Date occurs. The Executive’s Supplemental Retirement Benefit shall be determined in accordance with this Section 5(b), notwithstanding any contrary provisions of the SERP and, to the extent subject to Section 409A of the Code, shall be paid in accordance with Treasury Regulation Section 1.409A-3(c)(1). The Supplemental Retirement Benefit paid to or on behalf of the Executive in accordance with this Section 5(b) shall be in full satisfaction of any and all of the benefits payable to or on behalf of the Executive under the SERP.
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: If the Cumulative Consolidated Adjusted EBITDA for the Performance Period is: Then the Vesting Factor or Vesting Factor Range is: Less than $__________ 0x Equal to or greater than $__________, but less than $__________ 0x to 1x Equal to or greater than $__________, but less than $__________ 1x Equal to or greater than $__________, but less than $__________ 1x to 2x Equal to or greater than $__________ 2x
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.
Assuming an award of 150 Performance Shares, and an Early Retirement Vesting Factor is 0.24 the Adjusted Performance Shares would be 36.
Notwithstanding the previous sentence, in no event shall the Vesting Factor exceed 100%.
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.
More Definitions of Vesting Factor
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: If the Cumulative Consolidated Pro Forma EBITDA for the Performance Period is: Then the Vesting Factor or Vesting Factor Range is: [***] 0x [***] 0x to 1x [***] 1x [***] 1x to 2x [***] 2x to 3x [***] 3x
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: If the Cumulative Adjusted Consolidated EBITDA for the Performance Period is: Then the Vesting Factor or Vesting Factor Range is: [***] 0x [***] 0x to 1x [***] 1x [***] 1x to 2x [***] 2x Notwithstanding any other provision of this Agreement to the contrary, the Committee, in its sole discretion, may adjust the terms of the table set forth above in connection with the acquisition of a business or the disposition of a business or a segment of a business.
Vesting Factor means (x) one (1) during Employee’s term of employment, and (y) following Employee’s termination of employment, the lesser of (a) one (1) and (b) a fraction, the numerator of which shall be the number of months Employee was employed with the Company, and the denominator of which shall be eighteen (18). The expectation is that the milestones will be achieved within 18 months. By way of example, assuming a Gross Milestone Payment of $10 million, the Applicable Amount would equal (a) if Employee is still employed with the Company, $10 million; (b) if Employee’s employment terminated after 15 months and the milestone was achieved 1.5 years after termination of employment, 10*(5/6)*0.6 = $5 million; or (c) if Employee’s employment terminated after 2 years and milestone was achieved 3.5 years after termination of employment, 10*(1)*0.2 = $2 million.
Vesting Factor shall be calculated by dividing the number of months since the option was granted by the total months contained in the original vesting period.
Vesting Factor means the following for a Participant who qualifies for Retirement under paragraph 1.20
Vesting Factor means the factor by which to multiply the Target Amount determined in accordance with the following table: If the Measurement Price or the Change in Control Closing Price, as applicable, is: Then the Vesting Factor is: Equal to or greater than $97.05, but less than $104.69 0.5x Equal to or greater than $104.69, but less than $113.03 0.75x Equal to or greater than $113.03 1x