Common use of Acceleration of Vesting Upon Death Clause in Contracts

Acceleration of Vesting Upon Death. If Participant ceases to be an employee by reason of death, or if Participant dies after a Separation From Service with the Company or an Affiliate due to Disability or Retirement but prior to any Scheduled Vesting Date, and Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the Participant, then the Units will become vested as of the date of death and will be settled and Shares delivered in accordance with Section 3(d).

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Acceleration of Vesting Upon Death. If If, prior to the Scheduled Vesting Date, Participant (A) ceases to be an employee by reason of deathdeath while in the employ of the Company or any Affiliate, or if Participant (B) dies after a Separation From Service with the Company by reason of Retirement or an Affiliate due to Disability or Retirement but prior to any Scheduled Vesting Date, and Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the ParticipantDisability, then the Units will become vested as of the date of death and will be settled and Shares delivered in accordance with Section 3(d3(c).

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\)

Acceleration of Vesting Upon Death. If If, prior to the Scheduled Vesting Date, Participant (A) ceases to be an employee by reason of deathdeath while in the employ of the Company or any Affiliate, or if Participant (B) dies after a Separation From from Service with the Company by reason of Retirement or an Affiliate due to Disability or Retirement but prior to any Scheduled Vesting Date, and Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the ParticipantDisability, then the Units will become vested as of the date of death and will be settled and Shares delivered in accordance with Section 3(d3(c).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Acceleration of Vesting Upon Death. If Participant ceases to be an employee by reason of death, or if Participant dies after a Separation From Service with the Company or an Affiliate due to Disability or Retirement but prior to any Scheduled Vesting Date, and Participant has at all times since the Grant Date complied with the terms of any confidentiality and non-solicitation agreement between the Company or an Affiliate and the Participant, then the Units will become vested as of the date of death and will be settled and Shares delivered in accordance with Section 3(d).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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