Common use of Cancellation of RSUs upon Other Termination of Employment Clause in Contracts

Cancellation of RSUs upon Other Termination of Employment. If, on or before the end of Fiscal Year 3, the Employee’s status as an employee of the Company or any of its Subsidiaries terminates for any reason (or no reason), other than pursuant to Section 4(a) or (b) hereof, then the RSUs (including, for avoidance of doubt, any RSUs previously earned pursuant to Section 3) and all related Dividend Equivalents shall automatically be cancelled as of the close of business on the Employment Termination Date. If the Employee’s status as an employee of the Company or any of its Subsidiaries terminates for any reason (or no reason), other than pursuant to Section 4(a) or (b) hereof, after the end of Fiscal Year 3, then the Company shall settle the RSUs in accordance with Section 2, Section 3 (if applicable) and Appendix C of this Agreement on the Scheduled Settlement Date.

Appears in 3 contracts

Samples: Performance Based Restricted Stock Unit Award Agreement (Perspecta Inc.), Performance Based Restricted Stock Unit Award Agreement (DXC Technology Co), Performance Based Restricted Stock Unit Award Agreement (Perspecta Inc.)

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Cancellation of RSUs upon Other Termination of Employment. If, on or before the end of Fiscal Year 3, the Employee’s status as an employee of the Company or any of its Subsidiaries subsidiaries terminates for any reason (or no reason), other than pursuant to Section 4(a) or (b) hereof, then the RSUs (including, for avoidance of doubt, any RSUs previously earned pursuant to Section 3) and all related Dividend Equivalents shall automatically be cancelled as of the close of business on the Employment Termination Date. If the Employee’s status as an employee of the Company or any of its Subsidiaries subsidiaries terminates for any reason (or no reason), other than pursuant to Section 4(a) or (b) hereof, after the end of Fiscal Year 3, then the Company shall settle the RSUs in accordance with Section 2, Section 3 (if applicable) and Appendix C of this Agreement on the Scheduled Settlement Date.

Appears in 1 contract

Samples: Performance Based Restricted Stock Unit Award Agreement (DXC Technology Co)

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