Common use of Death, Disability or Good Reason Clause in Contracts

Death, Disability or Good Reason. Upon the Executive’s termination of employment due to the Executive’s death, Disability or by the Executive for Good Reason, the Restricted Share Unit Award shall become vested for an additional number of Shares equal to the number of Shares subject to the Restricted Share Unit Award (if any) that would have vested on the next anniversary of the Date of Grant if the Executive had remained employed until such date. Any portion of the Restricted Share Unit Award that is not vested after giving effect to the above provisions of this Section 3(c) shall terminate and be forfeited effective as of the termination of the Executive’s employment.

Appears in 3 contracts

Samples: Restricted Share Unit Award Agreement, Restricted Share Unit Award Agreement (Freescale Semiconductor Holdings I, Ltd.), Restricted Share Unit Award Agreement (Freescale Semiconductor Holdings I, Ltd.)

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Death, Disability or Good Reason. Upon the Executive’s termination of employment due to the Executive’s death, Disability or by the Executive for Good Reason, the Restricted Share Unit Award shall become vested for an additional number of Shares equal to the number of Shares subject to the Restricted Share Unit Award (if any) that would have vested on the next anniversary of the Date of Grant if the Executive had remained employed until such date. Any portion of the Restricted Share Unit Award that is not vested after giving effect to the above provisions of this Section 3(c) shall terminate and be forfeited immediately effective as of the termination of the Executive’s employment.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Freescale Semiconductor Holdings I, Ltd.)

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