Detrimental Conduct or Activity. If the Participant engages in conduct or activity that is detrimental to the Company, including but not limited to violating Sections 10(b) and 10(c) of this Agreement, after the PSUs are paid, or if the Company learns of the detrimental conduct or activity after the PSUs are paid, and such conduct occurred less than one year after the Participant's employment with the Company ended, the following shall apply. (i) If the Participant retired, the Participant shall not be entitled to receive payment of any Shares that would otherwise be payable to the Participant with respect to the last award of PSUs granted to the Participant before his termination of employment due to retirement. (ii) In all other cases, the Participant shall repay to the Company the equivalent of the value of Shares received as of the payment date determined under Section 5 of this Agreement within thirty (30) days of receiving a demand from the Company for the repayment of the award.
Appears in 4 contracts
Samples: Performance Share Unit Award Agreement (Union Electric Co), Performance Share Unit Award Agreement (Union Electric Co), Performance Share Unit Award Agreement (Union Electric Co)
Detrimental Conduct or Activity. If the Participant engages in conduct or activity that is detrimental to the Company, including but not limited to violating Sections 10(b) and 10(c) of this Agreement, after the PSUs are paid, or if the Company learns of the detrimental conduct or activity after the PSUs are paid, and such conduct occurred less than one year after the Participant's employment with the Company ended, the following shall apply.
(i) If the Participant retired, the Participant shall not be entitled to receive payment of any Shares that would otherwise be payable to the Participant with respect to the last award of PSUs granted to the Participant before his termination of employment due to retirement.
(ii) In all other cases, the Participant shall repay to the Company the equivalent of the value of Shares received as of the payment date determined under Section 5 of this Agreement within thirty (30) days of receiving a demand from the Company for the repayment of the award.59961003v.4
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Union Electric Co)
