Common use of Eligibility for Retirement or Occurrence of Total Disability Clause in Contracts

Eligibility for Retirement or Occurrence of Total Disability. Restrictions on all RSUs shall immediately lapse if (A) the Participant attains at least age 60 while still employed by the Company or a Subsidiary and completes five or more years of continuous service with the Company and any of its Subsidiaries, or (B) the Participant incurs a Total Disability. For purposes of this Award Agreement, “Total Disability” means the Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Company or any of its Subsidiaries.

Appears in 3 contracts

Samples: Baker Hughes Company Restricted Stock Unit Award Agreement (Baker Hughes Co), Baker Hughes Company Restricted Stock Unit Award Agreement (Baker Hughes Co), Baker Hughes Company Restricted Stock Unit Award Agreement (Baker Hughes Co)

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Eligibility for Retirement or Occurrence of Total Disability. Restrictions on all RSUs shall immediately lapse if (A) the Participant attains at least age 60 while still employed by the Company or a Subsidiary and completes five 5 or more years of continuous service with the Company and any of its Subsidiaries, or (B) the Participant incurs a Total Disability. For purposes of this Award Agreement, “Total Disability” means the Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 monthsmonth, receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Company or any of its Subsidiaries.

Appears in 2 contracts

Samples: Baker Hughes Company Restricted Stock Unit Award Agreement (Baker Hughes Co), Baker Hughes Company Restricted Stock Unit Award Agreement (Baker Hughes Co)

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