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 Vesting Period but are eligible to receive a portion of your Award as a result of an exception under Section 5.1(b), payment of such portion of your Award and DDEs shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Award and DDEs payable to you following a termination of employment during the Vesting 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(c).

Appears in 3 contracts

Samples: Performance Stock Unit Award Agreement (Lockheed Martin Corp), Performance Stock Unit Award Agreement (Lockheed Martin Corp), Performance Stock Unit Award Agreement (Lockheed Martin Corp)

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Special Rules for Certain Employees Terminated During Performance Period. If you terminate employment during the Vesting Period but are eligible to receive a portion of your Award as a result of an exception under Section 5.1(b), payment of such portion of your Award and DDEs shall be in full satisfaction of all rights you have under this Award Agreement. The portion of your Award and DDEs payable to you following a termination of employment during the Vesting Period under circumstances described in Award Date: February 22, 2024 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(c).

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Lockheed Martin Corp)

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