vest

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Vest

Become applicable or exercisable. A term mainly used on the context of employee stock ownership or option programs. Employees might be given equity in a firm but they must stay with the firm for a number of years before they are entitled to the full equity. This is a vesting provision. It provides incentive for the employee to perform.

Vesting

The process by which an employee with a qualified retirement plan and/or stock option becomes entitled to the benefits of ownership, even if he/she no longer works at the company providing the retirement plan or stock option. Vesting occurs after an employee has worked at the company for a certain number of years; once vesting occurs, the benefits of the plan or stock option cannot be revoked.

vest

To give immediate rights in property, even if possession or enjoyment will be delayed until later.The question of when property rights vest is critical to future interests, taxation, and creditors' rights.

References in classic literature ?
His brain told him that the chest contained something valuable, or the men would not have hidden it.
But the heavy lock and massive iron bands baffled both his cunning and his immense strength, so that he was compelled to bury the chest without having his curiosity satisfied.
I must follow my instructions to the letter and recover the chest at all hazards, or be taken myself in the attempt.
A cab drove away with a chest of reasonable dimensions as mine drove up, while in the bank itself a lady was making a painful scene.
The manager says he believes your chest was at the bottom of it all.
They cast a fearful glance at the spot where the buccaneer had disappeared, almost expecting to see him sailing on his chest in the cool moonshine.
He succeeded so far, however, as to uncover an iron chest, when there was a terrible roaring, ramping, and raging of uncouth figures about the hole, and at length a shower of blows, dealt by invisible cudgels, fairly belabored him off of the forbidden ground.
Some say they found the fragments of an oaken chest, and an iron pot lid, which savored strongly of hidden money, and that in the old family vault there were traces of bales and boxes; but this is all very dubious.
Next we seated ourselves, leaning our backs against the three stone chests which contained the priceless treasure.
Brown saw that the chest was barred and clamped with iron, strengthened with iron plates and studded with iron nails, so as to be a fit receptacle in which the wealth of one century might be hoarded up for the wants of another.
exclaimed Tabitha, adjusting her spectacles, and holding the lamp over the open chest.
said Peter, folding his arms, as he seated himself upon the chest.