Common use of Default Rule Clause in Contracts

Default Rule. In the event Grantee’s Continuous Service terminates after the Grantee has satisfied the Age and Service Requirements, the Target Units shall become fully vested as of the Termination Date, and shall be settled in accordance with Section 6 hereof, as if the Grantee had remained in Continuous Service through the last day of the vesting period set forth in the Notice.

Default Rule. In the event Grantee’s Continuous Service terminates after the Grantee has satisfied the Age and Service Requirementsdue to death or Disability, the Target Units Units, to the extent not already vested, shall become fully vested as of the Termination Date, and shall be settled in accordance with the schedule set forth in Section 6 hereof, hereof as if the Grantee had remained in Continuous Service through the last day of the vesting period set forth in the Notice.

Default Rule. In the event Grantee’s Continuous Service terminates after the Grantee has satisfied the Age and Service Requirementsdue to death or Disability, the Target Units Units, to the extent not already vested, shall become fully vested as of the Termination Date, and shall be settled in accordance with Section 6 hereof, hereof as if the Grantee had remained in Continuous Service through the last day of the vesting period set forth in the Notice.