Common use of Death of Awardee Clause in Contracts

Death of Awardee. Notwithstanding the provisions of Section 4 above, in the event of the death of Awardee: (a) If the Awardee was, at the time of death, in Continuous Status as an employee, the SUAs which would have vested during the twelve (12) months following the date of death of Awardee, set out in Schedule A, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a) shall terminate at the time of the Awardee’s death.

Appears in 33 contracts

Samples: Stock Unit Award Agreement (Ufp Technologies Inc), Stock Unit Award Agreement (Ufp Technologies Inc), Stock Unit Award Agreement (Ufp Technologies Inc)

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Death of Awardee. Notwithstanding the provisions of Section 4 3 above, in the event of the death of Awardee: (a) If the Awardee wasis, at the time of death, in Continuous Status as an employeea director of the Company, the SUAs which would have vested during the twelve (12) months following the date of death of Awardee, set out in Schedule ASection 2(a) above, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a5(a) shall terminate at the time of the Awardee’s death.

Appears in 3 contracts

Samples: Stock Unit Award Agreement (Psychemedics Corp), Stock Unit Award Agreement (Psychemedics Corp), Stock Unit Award Agreement (Psychemedics Corp)

Death of Awardee. Notwithstanding the provisions of Section 4 above, in the event of the death of Awardee: (a) If the Awardee wasis, at the time of death, in Continuous Status as an employeea Participant, the SUAs which would have vested during the twelve (12) months following the date of death of Awardee, set out in Schedule ASection 2(a) above, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a) shall terminate at the time of the Awardee’s death.

Appears in 3 contracts

Samples: Stock Unit Award Agreement (Psychemedics Corp), Stock Unit Award Agreement (Psychemedics Corp), Stock Unit Award Agreement (Psychemedics Corp)

Death of Awardee. Notwithstanding the provisions of Section 4 above, in the event of the death of Awardee: (a) If the Awardee wasis, at the time of death, in Continuous Status as an employeea Participant, the SUAs which would have vested during next vesting date for the SUAs, set out in Section 2(a) above, shall accelerate by twelve (12) months following the date of death of Awardee, set out in Schedule A, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a) shall terminate at the time of the Awardee’s death.

Appears in 1 contract

Samples: Stock Unit Award Agreement (Psychemedics Corp)

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Death of Awardee. Notwithstanding the provisions of Section 4 3 above, in the event of the death of Awardee: (a) If the Awardee wasis, at the time of death, in Continuous Status as an employeea director of the Company, the SUAs which would have vested during next vesting date for the SUAs, set out in Section 2(a) above, shall accelerate by twelve (12) months following the date of death of Awardee, set out in Schedule A, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a5(a) shall terminate at the time of the Awardee’s death.

Appears in 1 contract

Samples: Stock Unit Award Agreement (Psychemedics Corp)

Death of Awardee. Notwithstanding the provisions of Section 4 above, in the event of the death of Awardee: (a) If the Awardee wasis, at the time of death, in Continuous Status as an employee, the SUAs which would have vested during the twelve (12) months following the date of death of Awardee, set out in Schedule A, shall become vested as of the date of death. (b) The Awardee’s rights in any unvested SUAs that remain after the application of Section 6(a) shall terminate at the time of the Awardee’s death.

Appears in 1 contract

Samples: Stock Unit Award Agreement (Ufp Technologies Inc)

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