Common use of Qualifying Termination without Cause Clause in Contracts

Qualifying Termination without Cause. In the event that the Grantee incurs a Qualifying Termination due to a termination by the Company or an Affiliate other than for Cause, subject to and conditioned upon the Grantee’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 Grantee is entitled to a seven day post-signing revocation period under applicable law, the Grantee’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 Grantee remained continuously employed by the Company or an Affiliate during such period (and will, following the Grantee’s Qualifying Termination, remain outstanding and eligible to Vest on such date if the Release has become effective and irrevocable).

Appears in 4 contracts

Samples: Restricted Stock Units Agreement (NexPoint Residential Trust, Inc.), Restricted Stock Units Agreement (NexPoint Real Estate Finance, Inc.), Restricted Shares Units Agreement (Nexpoint Diversified Real Estate Trust)

AutoNDA by SimpleDocs

Qualifying Termination without Cause. In the event that the Grantee Participant incurs a Qualifying Termination due to a termination by the Company or an Affiliate other than for Cause, subject to and conditioned upon the GranteeParticipant’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 Grantee Participant is entitled to a seven day post-signing revocation period under applicable law, the GranteeParticipant’s non-revocation of such Release during such seven day period, the Award will Vest 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 12-12 month period immediately following the date of such Qualifying Termination had the Grantee Participant remained continuously employed by the Company or an Affiliate during such period (and will, following the GranteeParticipant’s Qualifying Termination, remain outstanding and eligible to Vest vest on such date if the Release has become effective and irrevocable).

Appears in 2 contracts

Samples: Restricted Stock Units Agreement (Vinebrook Homes Trust, Inc.), Restricted Stock Units Agreement (Vinebrook Homes Trust, Inc.)

AutoNDA by SimpleDocs

Qualifying Termination without Cause. In the event that the Grantee incurs a Qualifying Termination due to a termination by the Company or an Affiliate other than for Cause, subject to and conditioned upon the Grantee’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 Grantee is entitled to a seven day post-signing revocation period under applicable law, the Grantee’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 Grantee remained continuously employed by the Company or an Affiliate during such period (and will, following the Grantee’s Qualifying Termination, remain outstanding and eligible to Vest on such date if the Release has become effective and irrevocable).. AmericasActive:19176498.2

Appears in 1 contract

Samples: Restricted Shares Units Agreement (Nexpoint Diversified Real Estate Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!