Common use of Qualifying Termination On or After a Change in Control Clause in Contracts

Qualifying Termination On or After a Change in Control. If the Participant’s Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period but on or after the date of a Change in Control that is not a Vesting Change in Control, then, only for purposes of this Section 5 (and not for purposes of determining the Pro-Rata Fraction), the Participant shall be treated as if his Date of Termination had not occurred prior to the last day of the Restricted Period subject to the Participant signing and not revoking a general release and waiver of all claims against the Company as required by Section 7.1 of the Severance Plan. If such release is not effective within the sixty-day period required by Section 7.1 of the Severance Plan, the Participant shall immediately forfeit all of the Covered Units.

Appears in 10 contracts

Samples: Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD), Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD), Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD)

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Qualifying Termination On or After a Change in Control. If the Participant’s Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period but on or after the date of a Change in Control that is not a Vesting Change in Control, then, only for purposes of this Section 5 (and not for purposes of determining the Pro-Rata Fraction), then the Participant shall be treated as if his Date of Termination had not occurred prior to the last day of the Restricted Period subject to the Participant signing and not revoking a general release and waiver of all claims against the Company as required by Section 7.1 of the Severance Plan. If such release is not effective within the sixty-day period required by Section 7.1 of the Severance Plan, the Participant shall immediately forfeit all of the Covered Units.

Appears in 7 contracts

Samples: Restricted Stock Unit Agreement (Assured Guaranty LTD), Executive Restricted Stock Unit Agreement (Assured Guaranty LTD), Executive Restricted Stock Unit Agreement (Assured Guaranty LTD)

Qualifying Termination On or After a Change in Control. If the Participant’s Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period but on or after the date of a Change in Control that is not a Vesting Change in Control, then, only for purposes of this Section 5 (and not for purposes of determining the Pro-Rata Fraction), the Participant shall be treated as if his Date of Termination had not occurred prior to the last day of the Restricted Period subject to the Participant signing and not revoking a general release and waiver of all claims against the Company as required by Section 7.1 of the Severance Plan. If such release is not effective within the sixty60-day period required by Section 7.1 of the Severance Plan, the Participant shall immediately forfeit all of the Covered Units.

Appears in 4 contracts

Samples: Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD), Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD), Performance Based Restricted Stock Unit Agreement (Assured Guaranty LTD)

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Qualifying Termination On or After a Change in Control. If the Participant’s Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period but on or after the date of a Change in Control that is not a Vesting Change in Control, then, only for purposes of this Section 5 (and not for purposes of determining the Pro-Rata Fraction), then the Participant shall be treated as if his Date of Termination had not occurred prior to the last day of the Restricted Period subject to the Participant signing and not revoking a general release and waiver of all claims against the Company as required by Section 7.1 of the Severance Plan. If such release is not effective within the sixty60-day period required by Section 7.1 of the Severance Plan, the Participant shall immediately forfeit all of the Covered Units.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Assured Guaranty LTD), Restricted Stock Unit Agreement (Assured Guaranty LTD)

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