Common use of Employment Termination Due to Layoff Clause in Contracts

Employment Termination Due to Layoff. If your service with the Company terminates as a result of a “Layoff,” as such term is defined or described in the Genworth Layoff Payment Plan (a “Layoff”), you shall continue to vest in any RSUs that are scheduled to vest after the Notice Date but before the Layoff Date (the “Notice Date” and “Layoff Date” each as defined in the Genworth Layoff Payment Plan). Additionally, the RSUs, if any, that are scheduled to vest on the next Designated Vesting Date after the Layoff Date shall immediately vest on the Layoff Date; all remaining unvested RSUs, if any, shall be forfeited as provided in Section 4 as of the Layoff Date.

Employment Termination Due to Layoff. If your service with the Company terminates as a result of a “Layoff,” as such term is defined or described in the Genworth Layoff Payment Plan or any successor plan or program adopted by the Company and applicable to you (a “Layoff”), you shall continue to vest in any RSUs that are scheduled to vest after the Notice Date but before the Layoff Date (the “Notice Date” and “Layoff Date,” each as defined in the Genworth Layoff Payment Plan). Additionally, the RSUs, if any, that are scheduled to vest on the next Designated Vesting Date after the Layoff Date shall immediately vest on the Layoff Date; all remaining unvested RSUs, if any, shall be forfeited as provided in Section 4 as of on the Layoff Date.

Employment Termination Due to Layoff. If your service with the Company terminates as a result of a severance-benefit eligible “Layoff,” as such term is defined or described in the Genworth Layoff Payment Plan (a “Layoff”)Plan, you shall continue to vest in any RSUs that are scheduled to vest after the Notice Date but before the Layoff Date (the “Notice Date” and “Layoff Date” each as defined in the Genworth Layoff Payment Plan). Additionally, the RSUs, if any, that are scheduled to vest on the next Designated designated Vesting Date after the Layoff Date shall immediately vest on the Layoff Datethat Vesting Date as provided in Section 1(c); all remaining unvested RSUs, if any, and subsequently-vesting RSUs shall be forfeited as provided in Section 4 as of immediately on the Layoff Date.

Employment Termination Due to Layoff. If your service with the Company terminates as a result of a “Layoff,” as such term is defined or described in the Genworth Layoff Payment Plan (a “Layoff”), you shall continue to vest in any RSUs that are scheduled to vest after the Notice Date but before the Layoff Date (the “Notice Date” and “Layoff Date” each as defined in the Genworth Layoff Payment Plan). Additionally, on the Layoff Date, the RSUs, if any, that are scheduled to vest on the next Designated Vesting Date after the Layoff Date shall immediately vest on the Layoff Datevest; all remaining unvested RSUs, if any, and subsequently-vesting RSUs shall be forfeited as provided in Section 4 as of immediately on the Layoff Date.