Common use of Death or Disability of Employee Clause in Contracts

Death or Disability of Employee. In the event of the Employee's death or Termination of Service on account of Disability, each Vesting Date of the Restricted Stock Units subject to this Agreement shall fully accelerate at the time of the Employee's death or Termination of Service on account of Disability, respectively. Any distribution or delivery to be made to the Employee under this Agreement shall, if the Employee is then deceased, be made to the Employee’s designated beneficiary, or if either no beneficiary survives the Employee or the Committee does not permit beneficiary designations, to the administrator or executor of the Employee’s estate. Any designation of a beneficiary by the Employee shall be effective only if such designation is made in a form and manner acceptable to the Company. Any transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

Death or Disability of Employee. In the event of the Employee's death prior to Employee's Termination of Service or Termination of Service on account of due to Disability, each Vesting Date Employee shall be treated for purposes of this Agreement as having been continuously employed by the Company or by one of its Affiliates through the last day of the Restricted Stock Units subject to this Agreement shall fully accelerate at the time of the Employee's death or Termination of Service on account of Disability, respectivelyPerformance Period. Any distribution or delivery to be made to the Employee under this Agreement shall, if the Employee is then deceased, be made to the Employee’s designated beneficiary, or if either no beneficiary survives the Employee or the Committee does not permit beneficiary designations, to the administrator or executor of the Employee’s estate. Any designation of a beneficiary by the Employee shall be effective only if such designation is made in a form and manner acceptable to the CompanyCommittee. Any transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.