Common use of Cessation without Good Cause Clause in Contracts

Cessation without Good Cause. In the event the Participant’s Business Relationship ceases by reason of the Company’s termination of the Participant without Good Cause (as defined in Appendix A), the Participant shall be entitled to payment of a pro rata portion of the earned Performance Share Units for the fiscal year in the Performance Period in which the Business Relationship ceased, based on the number of days elapsed in such fiscal year prior to the cessation of the Business Relationship and the Company’s Average Percentile Rank for such fiscal year.

Appears in 5 contracts

Samples: Performance Share Unit Agreement (Red Hat Inc), Performance Share Unit Agreement (Red Hat Inc), Performance Share Unit Agreement (Red Hat Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!