Common use of Death, Total Disability, or Retirement on or After Age 62 Clause in Contracts

Death, Total Disability, or Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s death, Total Disability (as defined below), or Retirement after attaining at least age 62, then the Restricted Stock Units shall become fully vested on the Participant’s last day of active employment with the Company (which, for purposes of Total Disability, means the effective date of Total Disability) and will be payable as soon as practicable after that date (net of any Restricted Stock Units previously paid out).

Appears in 2 contracts

Samples: Annual Long Term Incentive Award (Pepsico Inc), Annual Long Term Incentive Award (Pepsico Inc)

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Death, Total Disability, or Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s death, Total Disability (as defined below), or Retirement after attaining at least age 62, then the Restricted Stock Units shall become fully vested on the Participant’s last day of active employment with the Company (which, for purposes of Total Disability, means the effective date of Total Disability) and will be payable paid as soon as practicable after that date (net of any Restricted Stock Units previously paid out).

Appears in 1 contract

Samples: Annual Long Term Incentive Award (Pepsico Inc)

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Death, Total Disability, or Retirement on or After Age 62. If the Participant’s employment terminates by reason of the Participant’s death, Total Disability (as defined below), or Retirement after attaining at least age 62, then the Restricted Stock Units shall become fully vested on the Participant’s last day of active employment with the Company (which, for purposes of Total Disability, means the effective date of Total Disability) and will be payable as soon as practicable after that date (net of any Restricted Stock Units previously paid out).

Appears in 1 contract

Samples: Annual Long Term Incentive Award (Pepsico Inc)

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