Common use of Qualifying Termination Following a Change of Control Clause in Contracts

Qualifying Termination Following a Change of Control. If Grantee has a Qualifying Termination within three years following a Change of Control, Grantee shall fully vest in the Restricted Stock subject to this Award. Any Restricted Stock that does not vest in accordance with this Section II.A.4 shall be canceled and forfeited as of the date of Xxxxxxx’s termination. Further, the Corporation retains the right to accelerate the vesting of all or a portion of the Restricted Stock subject to this Award.

Appears in 1 contract

Samples: Restricted Stock Agreement (Trimas Corp)

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Qualifying Termination Following a Change of Control. If Grantee has a Qualifying Termination within three years one year following a Change of Control, Grantee shall fully vest in the Restricted Stock subject to this Award. Any Restricted Stock that does not vest in accordance with this Section II.A.4 shall be canceled and forfeited as of the date of Xxxxxxx’s termination. Further, the Corporation retains the right to accelerate the vesting of all or a portion of the Restricted Stock subject to this Award, in which event a similar pro-ration determination as provided in the previous paragraph will be applied.

Appears in 1 contract

Samples: Restricted Stock Agreement (Trimas Corp)

Qualifying Termination Following a Change of Control. If Grantee has a Qualifying Termination within three years one year following a Change of Control, Grantee shall fully vest in the Restricted Stock subject to this the Award. Any Restricted Stock that does not vest in accordance with this Section II.A.4 shall be canceled and forfeited as of the date of Xxxxxxx’s terminationtermination of services. Further, the Corporation retains the right to accelerate the vesting of all or a portion of the Restricted Stock subject to this Award.

Appears in 1 contract

Samples: Restricted Stock Agreement (Trimas Corp)

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Qualifying Termination Following a Change of Control. If Grantee has a Qualifying Termination within three years following a Change of Control, Grantee shall fully vest in the Restricted Stock subject to this the Award. Any Restricted Stock that does not vest in accordance with this Section II.A.4 shall be canceled and forfeited as of the date of Xxxxxxx’s terminationtermination of services. Further, the Corporation retains the right to accelerate the vesting of all or a portion of the Restricted Stock subject to this Award.

Appears in 1 contract

Samples: Restricted Stock Agreement (Trimas Corp)

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