Shutdown or Divestiture. The following provision replaces Section 2(d) of the Award Agreement. In the event that, more than six months after the Grant Date, the Participant’s termination of employment is due to the shutdown or divestiture of the Corporation’s or its Affiliate’s business, it shall result in pro-rata vesting, as determined by the Committee, and the number of shares that are considered to vest shall be determined based on the Target Level of Awards (including any accrued dividend equivalents accumulated pursuant to Section 2(a)) and by prorating the number of full years of employment during the Restricted Period prior to the Participant's termination of employment, and shall be paid within 70 days following the Participant's termination of employment. Any fractional share of the Corporation resulting from such a prorated Award shall be rounded to the nearest whole share.
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Samples: Performance Restricted Stock Unit Award Agreement (Kimberly Clark Corp), Time Vested Restricted Stock Unit Award Agreement (Kimberly Clark Corp), Performance Restricted Stock Unit Award Agreement (Kimberly Clark Corp)
Shutdown or Divestiture. The following provision replaces Section 2(d) of the Award Agreement. In the event that, more than six months after the Grant Date, the Participant’s termination of employment is due to the shutdown or divestiture of the Corporation’s or its Affiliate’s business, it shall result in pro-rata vesting, as determined by the Committee, and the number of shares that are considered to vest shall be determined based on the Target Level of Awards (including any accrued dividend equivalents accumulated pursuant to Section 2(a)) and by prorating the number of full years of employment during the Restricted Period prior to the Participant's ’s termination of employment, and shall be paid within 70 days following the Participant's ’s termination of employment. Any fractional share of the Corporation resulting from such a prorated Award shall be rounded to the nearest whole share.
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Samples: Nonqualified Stock Option Award Agreement (Halyard Health, Inc.)