Vesting Clause Example with 5 Variations from Business Contracts

This page contains Vesting clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, without limitation, the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, the Participant shall become vested in the Stock Units upon the vesting dates specified, and Management Group in accordance with the vesting schedule set forth, in the Award Notice. If the Participant's employment with the Corporation and its Subsidiaries terminates for any reason prior to the end of the period ending on the latest... vesting date set forth in the Award Notice ("Vesting Period"), the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of Stock Units. View More
Found in Northern Trust Corp. contract

Variations of a "Vesting" Clause from Business Contracts

Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, including without limitation, limitation the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, upon Operating Group the last day of the Performance Period (as defined in Exhibit A), the Participant shall become vested in such number of Stock Units, if any, as determined under the Stock Units upon Schedule in Exhibit A, based on the vesting dates specified, and Management Group average annual rate of retu...rn on equity attained by the Corporation (as determined by the Committee in accordance with its sole discretion) for the vesting schedule set forth, in Performance Period, but only if the Award Notice. Participant remains continuously employed by the Corporation or one of its Subsidiaries through the last day of the Performance Period. If the Participant's employment with the Corporation and its Subsidiaries terminates for any reason prior to the end of the period ending on the latest vesting date set forth in the Award Notice ("Vesting Period"), Performance Period, the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of the Stock Units. View More
Found in Northern Trust Corp. contract
Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, including without limitation, limitation the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, upon Management Group the last day of the Performance Period (as defined in Exhibit A), the Participant shall become vested in such number of Stock Units, if any, as determined under the Stock Units upon Schedule in Exhibit A, based on the vesting dates specified, and Management Group average annual rate of ret...urn on equity attained by the Corporation (as determined by the Committee in accordance with its sole discretion) for the vesting schedule set forth, in Performance Period, but only if the Award Notice. Participant remains continuously employed by the Corporation or one of its Subsidiaries through the last day of the Performance Period. If the Participant's employment with the Corporation and its Subsidiaries terminates for any reason prior to the end of the period ending on the latest vesting date set forth in the Award Notice ("Vesting Period"), Performance Period, the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of the Stock Units. View More
Found in Northern Trust Corp. contract
Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, without limitation, the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, the Participant shall become vested in the Stock Units upon the vesting dates specified, and Management Group Regular w/ Continued Retirement Vesting 1 in accordance with the vesting schedule set forth, in the Award Notice. If the Participant's employment with the Corporation and its Subsidiaries terminates for any reason prior to ...the end of the period ending on the latest vesting date set forth in the Award Notice ("Vesting Period"), the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of Stock Units. Notwithstanding the foregoing, in the event of the Participant's termination of employment on account of Retirement, the Participant shall become vested in the Stock Units upon the vesting dates specified, and in accordance with the vesting schedule set forth, in the Award Notice. For purposes of these Terms and Conditions, "Retirement" means retirement occurring by reason of the Participant having qualified for a Normal, Early, or Postponed Retirement under The Northern Trust Company Pension Plan. View More
Found in Northern Trust Corp. contract
Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, without limitation, the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, the Participant shall become vested in the Stock Units upon the vesting dates specified, and Management Group in accordance with the vesting schedule set forth, in the Award Notice. If the February 10, 2014 For Plan Year 2013 Performance Management Group w/ Continued Retirement Vesting 1 Appendix A-M Participant's employment with t...he Corporation and its Subsidiaries terminates for any reason prior to the end of the period ending on the latest vesting date set forth in the Award Notice ("Vesting Period"), the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of Stock Units. View More
Found in Northern Trust Corp. contract
Vesting. Subject to all of the provisions of the Stock Unit Agreement, including, without limitation, the provisions of Paragraphs 4, 6, 7 and 9 of these Terms and Conditions, the Participant shall become vested in the Stock Units upon the vesting dates specified, and Management Group in accordance with the vesting schedule set forth, in the Award Notice. If the February 10, 2014 For Plan Year 2013 Performance Management Group 1 Appendix A-L Participant's employment with the Corporation and its Subsidiar...ies terminates for any reason prior to the end of the period ending on the latest vesting date set forth in the Award Notice ("Vesting Period"), the Stock Units in the Participant's Stock Unit Account that have not yet vested and do not become vested under Paragraph 6 or Paragraph 7, shall be forfeited and revert to the Corporation on such termination date, and the Corporation shall have no further obligation after such date to pay Dividend Equivalents pursuant to Paragraph 3 of these Terms and Conditions with respect to such forfeited Stock Units. The Corporation shall have no further obligation to the Participant under these Terms and Conditions following the Participant's forfeiture of Stock Units. View More
Found in Northern Trust Corp. contract