Common use of Disability and Death Clause in Contracts

Disability and Death. (a) Notwithstanding any other provision of this Award Agreement, if your service with the Company is terminated by reason of disability (as defined in Section 409A(a)(2)(C) of the Code and as determined in the sole discretion of the Committee), the condition set forth in Paragraph 3 shall be waived with respect to your then outstanding unvested DSUs (as a result of which any such then unvested outstanding DSUs shall vest). Shares (or, in the sole discretion of the Committee, cash, securities or other property in lieu of all or any part thereof) corresponding to your outstanding DSUs and any dividend equivalent rights shall be delivered to you as soon as practicable. (b) In the event of your death, the condition set forth in Paragraph 3 shall be waived with respect to your then outstanding unvested DSUs (as a result of which any such then unvested outstanding DSUs shall vest). Shares (or, in the sole discretion of the Committee, cash, securities or other property in lieu of all or any part thereof) corresponding to your outstanding DSUs and any dividend equivalent rights shall be delivered to the representative of your estate as soon as practicable after the date of death and after such documentation as may be requested by the Committee is provided to the Committee.

Appears in 4 contracts

Samples: New Director Award Agreement (Ebay Inc), Director Award Agreement (Ebay Inc), New Director Award Agreement (Ebay Inc)

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Disability and Death. (a) Notwithstanding any other provision of this Award Agreement, if your service with the Company is terminated by reason of disability (as defined in Section 409A(a)(2)(C) of the Code and as determined in the sole discretion of by the Committee), the condition set forth in Paragraph 3 shall be waived with respect to your then outstanding unvested DSUs (as a result of which any such then unvested outstanding DSUs shall vest). Shares [(or, in the sole discretion of the Committee, cash, securities or other property in lieu of all or any part thereof) )] corresponding to your outstanding DSUs and any dividend equivalent rights shall be delivered to you as soon as practicablepracticable after the date of your separation from service. (b) In the event of your death, the condition set forth in Paragraph 3 shall be waived with respect to your then outstanding unvested DSUs (as a result of which any such then unvested outstanding DSUs shall vest). Shares [(or, in the sole discretion of the Committee, cash, securities or other property in lieu of all or any part thereof) )] corresponding to your outstanding DSUs and any dividend equivalent rights shall be delivered to the representative of your estate as soon as practicable after the date of death and after such documentation as may be requested by the Committee is provided to the Committee.

Appears in 2 contracts

Samples: New Director Initial Award Agreement (Ebay Inc), Director Annual Award Agreement (Ebay Inc)

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