Common use of Second Vesting Date Clause in Contracts

Second Vesting Date. With respect to all Performance Units granted to Employee that vest on the Second Vesting Date, an amount equal to the Second Vesting Date Unit Value (as defined in Section 4(c)(ii) below) multiplied by the number of Performance Units granted under this Award that vest on the Second Vesting Date. Such amount shall be paid to Employee (or his Beneficiary) in accordance with Section 4(a) of this Agreement. Unit Values for Performance Units that vest on the Second Vesting Date shall not remain subject to adjustment as of the Third Vesting Date.

Second Vesting Date. With respect to all Performance Units granted to Employee that vest on the Second Vesting Date, an amount equal to one-hundred percent (100%) of the Second Vesting Date total Unit Value (as defined determined in accordance with Section 4(c)(ii) below) multiplied by the number of all such vested Performance Units granted under this Award that vest on the Second Vesting Date. Such amount shall be paid to Employee (or his Beneficiary) in accordance with Section 4(a) of this Agreement. The portion of the total Unit Value payable in connection with the Second Vesting Date on Performance Units that vest as of the Second Vesting Date shall not be less than zero. Unit Values for Performance Units that vest on the Second Vesting Date shall not remain subject to adjustment as of the Third Vesting Date.