Common use of Qualifying Termination other than due to Death Clause in Contracts

Qualifying Termination other than due to Death. In the event that the Participant incurs a Qualifying Termination other than due to Death, subject to and conditioned upon the Participant’s execution of a general release of claims in a form prescribed by the Company (the “Release”) within 21 days (or 45 days or such other number of days if necessary to comply with applicable law) after the date of such Qualifying Termination and, if the Participant is entitled to a seven day post-signing revocation period under applicable law, the Participant’s non-revocation of such Release during such seven day period, the Award will vest and become nonforfeitable on the 55th day following the date of such Qualifying Termination with respect to that number of RSUs subject to the Award which would have become vested and nonforfeitable during the 12 month period immediately following the date of such Qualifying Termination had the Participant continuously remained a Service Provider during such period.

Appears in 4 contracts

Samples: Separation Agreement (NexPoint Residential Trust, Inc.), Separation Agreement (Vinebrook Homes Trust, Inc.), Separation Agreement (Nexpoint Diversified Real Estate Trust)

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