Common use of During the Measurement Period Clause in Contracts

During the Measurement Period. Notwithstanding anything in this Agreement to the contrary, (a) if, during calendar year 2016, the Participant experiences a “disability” within the meaning of section 409A of the Code (“Disability” or “Disabled”) or separates from service for any reason (including death), then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be immediately forfeited for no consideration; or (b) if, during the calendar years 2017 or 2018, the Participant experiences a Disability or separates from service on account of Participant’s death, then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be earned and vested as follows: (i) if such event occurs during calendar year 2017, at 33% of Target Units, and (ii) if such event occurs during calendar year 2018, at 67% of Target Units; and any remaining TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) shall be immediately forfeited for no consideration.

Appears in 1 contract

Samples: Tr Performance Unit Award Agreement

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During the Measurement Period. Notwithstanding anything in this Agreement to the contrary, (a) if, during calendar year 20162014, the Participant experiences a “disability” within the meaning of section 409A of the Code (“Disability” or “Disabled”) or separates from service for any reason (including death), then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be immediately forfeited for no consideration; or (b) if, during the calendar years 2017 2015 or 20182016, the Participant experiences a Disability or separates from service on account of Participant’s death, then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be earned and vested as follows: (i) if such event occurs during calendar year 20172015, at 33% of Target Units, and (ii) if such event occurs during calendar year 20182016, at 67% of Target Units; and any remaining TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) shall be immediately forfeited for no consideration.

Appears in 1 contract

Samples: Tr Performance Unit Award (OCI Resources LP)

During the Measurement Period. Notwithstanding anything in this Agreement to the contrary, (a) if, during calendar year 20162015, the Participant experiences a “disability” within the meaning of section 409A of the Code (“Disability” or “Disabled”) or separates from service for any reason (including death), then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be immediately forfeited for no consideration; or (b) if, during the calendar years 2017 2016 or 20182017, the Participant experiences a Disability or separates from service on account of Participant’s death, then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be earned and vested as follows: (i) if such event occurs during calendar year 20172016, at 33% of Target Units, and (ii) if such event occurs during calendar year 20182017, at 67% of Target Units; and any remaining TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) shall be immediately forfeited for no consideration.

Appears in 1 contract

Samples: Tr Performance Unit Award (OCI Resources LP)

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During the Measurement Period. Notwithstanding anything in this Agreement to the contrary, (a) if, during calendar year 20162019, the Participant experiences a “disability” within the meaning of section 409A of the Code (“Disability” or “Disabled”) or separates from service for any reason (including death), then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be immediately forfeited for no consideration; or (b) if, during the calendar years 2017 2020 or 20182021, the Participant experiences a Disability or separates from service on account of Participant’s death, then the Participant’s TR Performance Units and Performance Distribution Equivalents shall be earned and vested as follows: (i) if such event occurs during calendar year 20172020, at 33% of Target Units, and (ii) if such event occurs during calendar year 20182021, at 67% of Target Units; and any remaining TR Performance Units and Performance Distribution Equivalents (and accumulated distributions associated with such Performance Distribution Equivalents) shall be immediately forfeited for no consideration.

Appears in 1 contract

Samples: Performance Unit Award Agreement (Ciner Resources LP)

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