Common use of Disabled On/After Date of Grant and Before Performance Period Clause in Contracts

Disabled On/After Date of Grant and Before Performance Period. If the Participant becomes Disabled on or after the Date of Grant, but before the Performance Period begins, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full calendar months elapsed from December 1 following the Date of Grant through the end of the first calendar year of the Performance Period plus the number of additional full calendar months, if any, elapsed from the date of the Participant’s return to active employment with the Company after the end of the first calendar year of the Performance Period 58409620v.3 through the end of the Vesting Period, and the denominator of which shall be 39 (i.e., the number of calendar months in the Vesting Period, treating the month of December following the Date of Grant as the first calendar month).

Appears in 2 contracts

Samples: Resolute Forest Products (Resolute Forest Products Inc.), Resolute Forest Products (Resolute Forest Products Inc.)

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Disabled On/After Date of Grant and Before Performance Period. If the Participant becomes Disabled on or after the Date of Grant, but before the Performance Period begins, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full calendar months elapsed from December 1 following the Date of Grant through the end of the first calendar year of the Performance Period plus the number of additional full calendar months, if any, elapsed from the date of the Participant’s return to active employment with the Company after the end of the first calendar year of the Performance Period 58409620v.3 through the end of the Vesting Period, and the denominator of which shall be 39 (i.e., the number of calendar months in the Vesting Period, treating the month of December following the Date of Grant as the first calendar month).. 58409620v.3

Appears in 1 contract

Samples: Equity Incentive Plan Stock Settled Performance Stock Unit Agreement (Resolute Forest Products Inc.)

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Disabled On/After Date of Grant and Before Performance Period. If the Participant becomes Disabled on or after the Date of Grant, but before the Performance Period begins, the prorata number of the PSUs shall be equal to (A) the total number of granted PSUs under Section 1(a) plus any dividend equivalents multiplied by (B) a fraction, the numerator of which shall be the number of full calendar months elapsed from December 1 following the Date of Grant through the end of the first calendar year of the Performance Period plus the number of additional full calendar months, if any, elapsed from the date of the Participant’s return to active employment with the Company after the end of the first calendar year of the Performance Period 58409620v.3 through the end of the Vesting Period, and the denominator of which shall be 39 (i.e., the number of calendar months in the Vesting Period, treating the month of December following the Date of Grant as the first calendar month).

Appears in 1 contract

Samples: Equity Incentive Plan Stock Settled Performance Stock Unit Agreement (Resolute Forest Products Inc.)

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