Common use of Special Rules for Certain Employees Terminated During Performance Period Clause in Contracts

Special Rules for Certain Employees Terminated During Performance Period. If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Potential Award payable to you following a termination of employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your death, to your Beneficiary, at the time specified in Section 5.2(a) (subject to Section 5.2(c)).

Appears in 3 contracts

Samples: Award Agreement (Lockheed Martin Corp), Award Agreement (Lockheed Martin Corp), Award Agreement (Lockheed Martin Corp)

AutoNDA by SimpleDocs

Special Rules for Certain Employees Terminated During Performance Period. If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Potential Award payable to you following a termination of employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your death, to your Beneficiaryestate, at the time specified in Section 5.2(a) (subject to Section 5.2(c)).

Appears in 2 contracts

Samples: Award Agreement (Lockheed Martin Corp), Award Agreement (Lockheed Martin Corp)

Special Rules for Certain Employees Terminated During Performance Period. If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Potential Award payable to you following a termination of employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your Award Date: July 27, 2020 death, to your Beneficiary, at the time specified in Section 5.2(a) (subject to Section 5.2(c)).

Appears in 1 contract

Samples: Award Agreement (Lockheed Martin Corp)

AutoNDA by SimpleDocs

Special Rules for Certain Employees Terminated During Performance Period. If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Potential Award payable to you Award Date: February 22, 2023 following a termination of employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your death, to your Beneficiary, at the time specified in Section 5.2(a) (subject to Section 5.2(c)).

Appears in 1 contract

Samples: Award Agreement (Lockheed Martin Corp)

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