Continuous Service Requirement. The number of Performance-Qualified Shares calculated in accordance with the Performance-Vesting provisions of Paragraph 1 and attached Schedule I represent the maximum number of shares of Common Stock in which Participant can vest hereunder. The actual number of shares of Common Stock in which Participant shall vest shall be determined as follows: - If Participant remains in Continuous Service through the date following the completion of the Performance Period on which the Administrator certifies the attained level of the Performance Goals for that Performance Period, Participant shall vest in one hundred percent (100%) of the Performance-Qualified Shares. - If Participant’s Continuous Service terminates prior to the completion of the Performance Period (or after the completion of the Performance Period but before the date the Administrator certifies the attained level of the Performance Goals for that Performance Period) by reason of death or Permanent Disability, then Participant shall, following the completion of the Performance Period, vest in that number of shares of Common Stock (if any) determined by multiplying the maximum number of Performance-Qualified Shares in which Participant could vest, based on the actual level at which the Performance Goals are attained and certified for the Performance Period, by a fraction, the numerator of which is the number of months of Continuous Service actually completed by Participant in such Performance Period (rounded to the closest whole month), and the denominator of which is the number of months (rounded to the closest whole number) constituting the entire Performance Period. - If Participant’s Continuous Service terminates by reason of his or her Retirement at any time after the completion of the first twelve (12) months of the Performance Period but prior to the completion of the entire Performance Period, then Participant shall, following the completion of the Performance Period, vest in that number of shares of Common Stock (if any) determined by multiplying the maximum number of Performance-Qualified Shares in which Participant could vest, based on the actual level at which the Performance Goals are attained and certified for the Performance Period, by a fraction, the numerator of which is the number of months of Continuous Service actually completed by Participant in such Performance Period prior to his or her Retirement (rounded to the closest whole month), and the denominator of which is the number o...
Continuous Service Requirement. In order to earn any Shares, the Executive must be continuously providing Service from the Grant Date to the end of the Performance Period, except as described in this Section and Section 6. Even if the Executive is not continuously providing Service through the end of the Performance Period, upon the occurrence of one of the following events, the Shares that are earned during the Performance Period, if any, shall be paid out as provided in Section 9, in accordance with and subject to any restrictions set forth in this Agreement, the Plan or any agreement the Executive may be required to enter pursuant to this Section:
Continuous Service Requirement. In order to earn any Shares, the Team Member must be continuously providing Service from the Grant Date to the end of the Performance
Continuous Service Requirement. In order to earn any Shares, the Team Member must be continuously providing Service from the Grant Date to the end of the Performance Period, except as described in this Section and Section 5. Even if the Team Member is not continuously providing Service through the end of the Performance Period, upon the occurrence of one of the events specified in Sections 4(a) through 4(d), the Shares that are earned during the Performance Period, if any, shall vest and be paid out as provided in Section 9, in accordance with and subject to any restrictions set forth in this Agreement, the Plan or any Release Agreement that the Team Member may be required to enter pursuant to this Section or Section 5. “Release Agreement” means an agreement containing a release of claims, a covenant not to engage in competitive employment, and/or other provisions deemed appropriate by the Committee in its sole discretion.
Continuous Service Requirement. Except as otherwise provided in this Section 7, the Option may be exercised only if you have continuously provided Service to the Company or an Affiliate since the Date of Grant and continue to provide Service on the exercise date. However, the Option may be exercised after termination of your Service (but in no event after the expiration of the Option) in the following situations:
(a) The Option may be exercised for six months after termination of your Service because of death or Disability, but only to the extent that it was exercisable immediately prior to the termination of Service.
(b) The Option may be exercised for three months after termination of your Service for any reason other than death, Disability or Cause, but only to the extent that it was exercisable immediately prior to the termination of Service.
(c) If your Service terminates after a declaration made pursuant to Section 14 of the Plan in connection with a Corporate Transaction, the Option may be exercised at any time permitted by such declaration.
Continuous Service Requirement. No Performance Units shall be earned or paid unless the Participant has remained in Service continuously until the Payout Event. If the Participant’s Service terminates for any reason prior to a Payout Event (except as described in Section 5(e)), the Participant’s Performance Units shall be forfeited and shall not be considered earned under this Section 5 and the Participant shall not be entitled to any payment in connection with the Award.
Continuous Service Requirement. (a) Should Participant’s Continuous Service terminate for any reason other than death or Permanent Disability prior to the latest Completion Dates for one or more Performance Objectives, then the Award shall be immediately cancelled with respect to the Pro-Rated Shares allocated to those Performance Objectives, and the number of Restricted Stock Units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.
(b) Should Participant’s Continuous Service terminate by reason of death or Permanent Disability prior to the latest Completion Dates for one or more Performance Objectives, then Participant shall vest in a portion of the Pro-Rated Shares allotted to each of those particular Performance Objectives. The portion of Pro-Rated Shares in which Participant shall vest with respect to each such Performance Objective shall be determined by multiplying the number of those Pro-Rated Shares by a fraction, the numerator of which is the number of months (rounded to the next whole month) in which Participant remained in Continuous Service following the Award Date, and the denominator of which is the number of months (rounded to the closest whole number) in the period beginning with the Award Date and ending with the latest Completion Date for that particular Performance Objective.
Continuous Service Requirement. If you have been continuously employed by (i) the Company, (ii) an Affiliate (as defined in the Equity Plan) or (iii) a corporation or other entity (or parent or subsidiary thereof) assuming this Award Agreement or issuing a substitute equity-based award pursuant to the Equity Plan (collectively, “Group”) through the date on which Performance Qualified Shares are settled with respect to the Performance Period (the “Settlement Date”), 100% of your Performance Qualified Shares determined in accordance with Section 4 above shall be earned and this Award shall be considered vested upon the Settlement Date. Notwithstanding the foregoing sentence, if your employment with the Group terminates before the Settlement Date by reason of death, disability (in accordance with the Company’s Long Term Disability Policy or any other applicable Human Resources policy in effect at the time of your employment termination) or Retirement (as defined in the LTI Plan), then you shall earn and vest in the number of your Performance Qualified Shares, if any, multiplied by a ratio calculated by dividing (x) the number of completed months (rounded to the nearest whole number) of continuous employment actually completed by you in the Performance Period by (y) the number of months constituting the entire Performance Period. If your employment with the Group terminates before the Settlement Date for any reason other than death, disability or Retirement, then you shall not earn any Performance Qualified Shares, you shall have no right, title or interest in and to the Shares subject to this Performance Restricted Stock Unit Award, and this Award shall terminate upon such termination of your employment.
Continuous Service Requirement. In order to earn any Shares, the Executive must be continuously providing Service from the Grant Date to the end of the Performance Period, except as described in this Section and Section 6. Even if the Executive is not continuously providing Service through the end of the Performance Period, upon the occurrence of one of the events specified in Sections 5(a) through 5(d), the Shares that are earned during the Performance Period, if any, shall be paid out as provided in Section 10, in accordance with and subject to any restrictions set forth in this Agreement, the Plan or any Release Agreement that the Executive may be required to enter pursuant to this Section or Section 6. “Release Agreement” means an agreement containing a release of claims, a covenant not to engage in competitive employment, and/or other provisions deemed appropriate by the Committee in its sole discretion.
Continuous Service Requirement. The Grantee agrees to provide Continuous Service to the Company in consideration for the conditional rights to the unvested Award LTIP Units. Except as otherwise provided in Section 5 or pursuant to the Stock Plan, the Vesting Schedule requires Continuous Service through each applicable Vesting Date as a condition to the vesting of the applicable installment and rights and benefits under this Agreement. Partial service, even if substantial, during any vesting period will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service as provided in Section 5 below or under the Stock Plan.
