Common use of Group Termination Clause in Contracts

Group Termination. If Participant’s employment terminates involuntarily by reason of a group termination (including, but not limited to, terminations resulting from sale of a business or division, outsourcing of an entire function, reduction in workforce or closing of a facility) (a “Group Termination Event”), the number of Shares subject to the RSUs that would have vested within 12 months of termination of Participant’s active employment shall vest as of the date of termination of active employment (such date also being a “Vesting Date”) and all other RSUs and associated Dividend Equivalents shall be forfeited as of the date of termination of active employment, and Participant shall have no right to or interest in such RSUs, the underlying Shares or any associated Dividend Equivalents.

Appears in 11 contracts

Samples: Global Restricted Stock Unit Award Agreement (Allegion PLC), Global Restricted Stock Unit Award Agreement (Allegion PLC), Global Restricted Stock Unit Award Agreement (Allegion PLC)

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