Common use of Divestiture, etc Clause in Contracts

Divestiture, etc. If the Employee’s employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation’s operations after the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash Units. If the Employee’s termination of employment under this subsection occurs during the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash Units prorated in accordance with Section 3(b) above.

Appears in 3 contracts

Samples: Cash Performance Unit Agreement, Cash Performance Unit Agreement (Corning Inc /Ny), Cash Performance Unit Agreement (Corning Inc /Ny)

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Divestiture, etc. If the Employee’s employment is terminated due to a reduction in force, divestiture or discontinuance of certain of the Corporation’s operations after the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash UnitsIncentive Stock Rights. If the Employee’s termination of employment under this subsection occurs during the Performance Period, then the service based vesting requirement shall be satisfied with respect to the number of “earned” Cash Units Incentive Stock Rights prorated in accordance with Section 3(b) 3 above.

Appears in 1 contract

Samples: Incentive Stock Right Agreement (Corning Inc /Ny)

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