Common use of Qualifying Termination or Retirement During Protected Period Following Change in Control Clause in Contracts

Qualifying Termination or Retirement During Protected Period Following Change in Control. In the event your employment is terminated (i) by reason of a Qualifying Termination (as defined in Section 9(c) of the Plan), or (ii) due to Retirement (as that term is defined under Section 2(x)(i), (ii), or (iii) of the Plan) whether by the Company or voluntarily, in either case, that does not constitute a Qualifying Termination, and in each case, that occurs during the Protected Period (as defined in Section 9(a) of the Plan) following a Change in Control (as defined in Section 9(b) of the Plan) and prior to a Vesting Date, as of the date of your termination, you shall be deemed fully vested in the RSUs (and no longer required to hold the Award for one year), and the timing of the settlement of your Award shall be governed by Section 2(b) hereof. Upon your separation from service after a Change in Control during the Protected Period, any RSUs that have not been deemed vested under this Section 2(f) will be canceled and forfeited.

Appears in 3 contracts

Samples: Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co)

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Qualifying Termination or Retirement During Protected Period Following Change in Control. In the event your employment is terminated (i) by reason of a Qualifying Termination (as defined in Section 9(c) of the Plan), or (ii) due to Retirement (as that term is defined under Section 2(x)(i), (ii), or (iii) of the Plan) whether by the Company or voluntarily, in either case, that does not constitute a Qualifying Termination, and in each case, that occurs during the Protected Period (as defined in Section 9(a) of the Plan) following a Change in Control (as defined in Section 9(b) of the Plan) and prior to a the Vesting Date, as of the date of your termination, you shall be deemed fully vested in the RSUs (and no longer required to hold the Award for one year)RSUs, and all shares of Common Stock delivered in settlement of any RSUs vested pursuant to this Section 2(f) shall not be subject to the Post-Vest Holding Period. The timing of the settlement of your Award such RSUs shall be governed by Section 2(b) hereof. Upon your separation from service after a Change in Control during the Protected Period, any RSUs that have not been deemed vested under this Section 2(f) will be canceled and forfeited.

Appears in 2 contracts

Samples: Restricted Stock Units Agreement (Bristol Myers Squibb Co), Restricted Stock Units Agreement (Bristol Myers Squibb Co)

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