Common use of Acceleration of Vesting Upon Death or Disability or Termination Clause in Contracts

Acceleration of Vesting Upon Death or Disability or Termination. In the event of Participant’s Termination of Employment, Termination of Directorship or Termination of Consultancy by reason of Participant’s death or Disability, the following pro rata portion of the Shares will be deemed to have vested immediately prior to the termination event and shall no longer be subject to forfeiture (up to a maximum of 100% of the Shares):

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Farmer Brothers Co), Restricted Stock Award Agreement (Farmer Brothers Co), Restricted Stock Award Agreement (Farmer Brothers Co)

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Acceleration of Vesting Upon Death or Disability or Termination. In the event of Participant’s Termination of Employment, Employment or Termination of Directorship or Termination of Consultancy by reason of Participant’s death or Disability, the following pro rata portion of the Shares will be deemed to have vested immediately prior to the termination event and shall no longer be subject to forfeiture (up to a maximum of 100% of the Shares):): (Actual No. of Days Elapsed from Beginning of Vesting Period to Date of Death/Disability) X No. of Unvested Shares = (Accelerated Shares)

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Farmer Brothers Co)

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