Common use of Due to Disability Clause in Contracts

Due to Disability. If your employment with the Company or an Affiliate terminates due to Disability prior to the Vesting Date, (i) all forfeiture restrictions on the Performance Units granted hereunder shall lapse effective as of the date of such termination; (ii) the Performance Multiple to be applied to the number of Performance Units granted hereunder shall be the Performance Multiple for the Performance Period as certified by the Committee; and (iii) all shares of Company common stock represented by the Performance Units granted hereunder (as adjusted for the applicable Performance Multiple) shall be distributed to you as soon as administratively practicable following the later of (A) the date that is six months following the effective date of such termination (to account for the six-month delay applicable to specified employees described under “Section 409A” below) or (B) the Vesting Date, but no later than 60 days after the later of such dates.

Appears in 6 contracts

Samples: Performance Unit Award Agreement (Eog Resources Inc), Performance Unit Award Agreement (Eog Resources Inc), Performance Unit Award Agreement (Eog Resources Inc)

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Due to Disability. If your employment with the Company or an Affiliate terminates due to Disability prior to the Vesting Date[five-year anniversary of grant date], (i) all forfeiture restrictions on the Performance Units granted hereunder shall lapse effective as of the date of such termination; (ii) the Performance Multiple to be applied to the number of Performance Units granted hereunder shall be the Performance Multiple for the Performance Period as certified by the Committee; and (iii) all shares of Company common stock represented by the Performance Units granted hereunder (as adjusted for the applicable Performance Multiple) shall be distributed to you as soon as administratively practicable following the later of (A) the date that is six months following the effective date of such termination (to account for the six-month delay applicable to specified employees described under “Section 409A” below) or (B) the Vesting Datecompletion of the Performance Period and the Committee’s certification of the applicable Performance Multiple in the year following the completion of the Performance Period, but no later than 60 days after the later of such dates.

Appears in 3 contracts

Samples: Performance Unit Award Agreement (Eog Resources Inc), Performance Unit Award Agreement (Eog Resources Inc), Performance Unit Award Agreement (Eog Resources Inc)

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