Common use of Forfeiture Upon Termination Clause in Contracts

Forfeiture Upon Termination. The following replaces Section 4 of the Award Agreement: Until vested, the Award shall be subject to forfeiture in the event of the termination of your employment with Tyson and all of its Affiliates for any reason, whether such termination is occasioned by you, by Tyson or any of its Affiliates, with or without cause or by mutual agreement (“Termination of Employment”). For purposes of the Award Agreement, your employment will be considered terminated as of the date that is the earlier of: (1) the date your employment with your Employer is terminated, no matter how the termination arises, or (2) the date you receive a written notice of termination of employment from your Employer; regardless of the reason for such termination and whether or not later found to be invalid or unlawful, including for breaching the employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any. In either case, the date shall exclude any period during which notice, pay in lieu of notice or related payments or damages are provided or required to be provided under local law. For greater clarity, you will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which your right to vest terminates, nor will you be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the Award, if any, will terminate effective as of the last day of your minimum statutory notice period, but you will not earn or be entitled to pro-rated vesting if the vesting date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting. The following provisions will also apply to employees who are resident in Quebec:

Appears in 2 contracts

Samples: Restricted Stock Units Award Agreement (Tyson Foods, Inc.), Restricted Stock Units Award Agreement (Tyson Foods, Inc.)

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Forfeiture Upon Termination. The following replaces This provision supplements Section 4 10(i) of the Award Agreement“All Non-US Countries” portion of this Addendum: Until vested, the Award shall be subject to forfeiture in the event of the termination of your employment with Tyson and all of its Affiliates for any reason, whether such termination is occasioned by you, by Tyson or any of its Affiliates, with or without cause or by mutual agreement (“Termination of Employment”). For purposes of the Award AgreementRestricted Stock Units, your notwithstanding Section 10(i) of the Addendum, the Committee or its delegate may provide that the Participant’s termination of employment will be considered terminated occur as of the date that the Participant is no longer actually employed or otherwise rendering services to the earlier of: Participant's employer (1) the date your employment with your Employer is terminated, no matter how the termination arises, or (2) the date you receive a written notice of termination of employment from your Employer; regardless of the reason for such termination and whether or not later found to be invalid or unlawful, including for breaching the in breach of employment or other laws in the jurisdiction where you are employed or otherwise rendering services or the terms of your the Participant’s employment or other service agreement, if any). In either such case, unless otherwise provided in the Award Agreement or extended by the Company, the Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date (the “Termination Date”). The Termination Date will not be extended by any common law notice period. Notwithstanding the foregoing, however, if applicable employment standards legislation specifically requires continued entitlement to vesting during a statutory notice period, the Participant’s right to vest in the Restricted Stock Units under the Plan, if any will be allowed to continue for that minimum notice period but then immediately terminate effective as of the last day of the Participant’s minimum statutory notice period. In the event the date the Participant is no longer providing actual service cannot be reasonable determined under the terms of the Award Agreement and/or the Plan, the Committee or its delegate shall exclude any period during which notice, pay in lieu have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of notice or related payments or damages are provided or required the Restricted Stock Units (including whether the Participant may still be considered to be provided under local lawproviding services while on a leave of absence). For greater clarityUnless the applicable employment standards legislation specifically requires, you in the case of the Participant, the Participant will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which your right to vest terminates, his service relationship is terminated (as determined under this provision) nor will you the Participant be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the Award, if any, will terminate effective as of the last day of your minimum statutory notice period, but you will not earn or be entitled to proAMECURRENT 741065166.2 6-rated vesting if the vesting date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting. The following provisions will also apply to employees who are resident in Quebec:May-21 16:53 CHINA

Appears in 1 contract

Samples: Award Agreement (Tenneco Inc)

Forfeiture Upon Termination. The following replaces This provision supplements Section 4 10(i) of the Award Agreement“All Non-US Countries” portion of this Addendum: Until vested, the Award shall be subject to forfeiture in the event of the termination of your employment with Tyson and all of its Affiliates for any reason, whether such termination is occasioned by you, by Tyson or any of its Affiliates, with or without cause or by mutual agreement (“Termination of Employment”). For purposes of the Award AgreementPSUs, your notwithstanding Section 10(i) of the Addendum, the Committee or its delegate may provide that the Participant’s termination of employment will be considered terminated occur as of the date that the Participant is no longer actually employed or otherwise rendering services to the earlier of: Participant’s employer (1) the date your employment with your Employer is terminated, no matter how the termination arises, or (2) the date you receive a written notice of termination of employment from your Employer; regardless of the reason for such termination and whether or not later found to be invalid or unlawful, including for breaching the in breach of employment or other laws in the jurisdiction where you are employed or otherwise rendering services or the terms of your the Participant’s employment or other service agreement, if any). In either such case, unless otherwise provided in the Award Agreement or extended by the Company, the Participant’s right to vest in the PSUs under the Plan, if any, will terminate as of such date (the “Termination Date”). The Termination Date will not be extended by any common law notice period. Notwithstanding the foregoing, however, if applicable employment standards legislation specifically requires continued entitlement to vesting during a statutory notice period, the Participant’s right to vest in the PSUs under the Plan, if any will be allowed to continue for that minimum notice period but then immediately terminate effective as of the last day of the Participant’s minimum statutory notice period. In the event the date the Participant is no longer providing actual service cannot be reasonable determined under the terms of the Award Agreement and/or the Plan, the Committee or its delegate shall exclude any period during which notice, pay in lieu have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of notice or related payments or damages are provided or required the PSUs (including whether the Participant may still be considered to be provided under local lawproviding services while on a leave of absence). For greater clarityUnless the applicable employment standards legislation specifically requires, you in the case of the Participant, the Participant will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which your right to vest terminates, his service relationship is terminated (as determined under this provision) nor will you the Participant be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the Award, if any, will terminate effective as of the last day of your minimum statutory notice period, but you will not earn or be entitled to proAMECURRENT 741326349.3 6-rated vesting if the vesting date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting. The following provisions will also apply to employees who are resident in Quebec:May-21 16:39 CHINA

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Tenneco Inc)

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Forfeiture Upon Termination. The following replaces This provision supplements Section 4 9(i) of the Award Agreement“All Non-US Countries” portion of this Addendum: Until vested, the Award shall be subject to forfeiture in the event of the termination of your employment with Tyson and all of its Affiliates for any reason, whether such termination is occasioned by you, by Tyson or any of its Affiliates, with or without cause or by mutual agreement (“Termination of Employment”). AMECURRENT 740792352.4 6-May-21 16:51 For purposes of the Award AgreementRestricted Stock Units, your notwithstanding Section 9(i) of the Addendum, the Committee or its delegate may provide that the Participant’s termination of employment will be considered terminated occur as of the date that the Participant is no longer actually employed or otherwise rendering services to the earlier of: Participant's employer (1) the date your employment with your Employer is terminated, no matter how the termination arises, or (2) the date you receive a written notice of termination of employment from your Employer; regardless of the reason for such termination and whether or not later found to be invalid or unlawful, including for breaching the in breach of employment or other laws in the jurisdiction where you are employed or otherwise rendering services or the terms of your the Participant’s employment or other service agreement, if any). In either such case, unless otherwise provided in the Award Agreement or extended by the Company, the Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date (the “Termination Date”). The Termination Date will not be extended by any common law notice period. Notwithstanding the foregoing, however, if applicable employment standards legislation specifically requires continued entitlement to vesting during a statutory notice period, the Participant’s right to vest in the Restricted Stock Units under the Plan, if any will be allowed to continue for that minimum notice period but then immediately terminate effective as of the last day of the Participant’s minimum statutory notice period. In the event the date the Participant is no longer providing actual service cannot be reasonable determined under the terms of the Award Agreement and/or the Plan, the Committee or its delegate shall exclude any period during which notice, pay in lieu have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of notice or related payments or damages are provided or required the Restricted Stock Units (including whether the Participant may still be considered to be provided under local lawproviding services while on a leave of absence). For greater clarityUnless the applicable employment standards legislation specifically requires, you in the case of the Participant, the Participant will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which your right to vest terminates, his service relationship is terminated (as determined under this provision) nor will you the Participant be entitled to any compensation for lost vesting.Committee or its delegate shall have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of the Restricted Stock Units (including whether the Participant may still be considered to be providing services while on a leave of absence). Unless the applicable employment standards legislation specifically requires, in the case of the Participant, the Participant will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which his service relationship is terminated (as determined under this provision) nor will the Participant be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the Award, if any, will terminate effective as of the last day of your minimum statutory notice period, but you will not earn or be entitled to proCHINA No country-rated vesting if the vesting date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting. The following provisions will also apply to employees who are resident in Quebec:specific provisions.

Appears in 1 contract

Samples: Award Agreement (Tenneco Inc)

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