Common use of Distributions Following Retirement or Disability Clause in Contracts

Distributions Following Retirement or Disability. If a Participant has a Separation From Service with the Company or its Affiliates due to Retirement or Disability (so long as such Separation From Service is not in connection with a Qualifying Termination), the distribution of Shares with respect to Units will not be accelerated, and Shares will be distributed as soon as administratively feasible following the applicable Scheduled Vesting Dates (but in no event later than December 31st of the year in which such Scheduled Vesting Date occurs).

Appears in 8 contracts

Samples: Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Distributions Following Retirement or Disability. If a Participant has a Separation From Service with the Company or its Affiliates due to Retirement or Disability (so long as such Separation From Service is not in connection with a Qualifying Termination), the distribution of Shares with respect to Units will not be accelerated, and Shares will be distributed as soon as administratively feasible following the applicable Scheduled Vesting Dates (but in no event later than December 31st of the year in which such Scheduled Vesting Date occurs).

Appears in 3 contracts

Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\), Restricted Stock Unit Award Agreement (Us Bancorp \De\), Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)

Distributions Following Retirement or Disability. If a Participant has a Separation From Service Participant’s employment with the Company or its Affiliates is terminated due to Retirement or Disability (so long as such Separation From Service termination is not in connection with a Qualifying Termination), the distribution of Shares with respect to Units will not be accelerated, accelerated and Shares will be distributed as soon as administratively feasible following the applicable Scheduled Vesting Dates (but in no event later than December 31st of the year in which 60 days following any such Scheduled Vesting Date occursDate).

Appears in 1 contract

Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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Distributions Following Retirement or Disability. If a Participant has a Separation From Service with the Company or its Affiliates due to Retirement or Disability (so long as such Separation From Service is not in connection with a Qualifying Termination), the distribution of Shares with respect to Units will not be accelerated, and Shares will be distributed as soon as administratively feasible following the applicable Scheduled Vesting Dates (but in no event later than December 31st of the year in which 60 days following any such Scheduled Vesting Date occursDate).

Appears in 1 contract

Samples: Performance Restricted Stock Unit Award Agreement (Us Bancorp \De\)

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