Special Vesting Rules for Special Projects. If the Participant is assigned to a special project with a limited scope (as approved by the Committee and communicated to the Participant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as defined in subparagraph 3(b) as a result of termination by the Company for reasons other than for cause on or after the first anniversary of the Grant Date, the Participant shall be entitled to payment and settlement with respect to 100% of the Target PSUs subject to the Award for the Performance Period, which Target PSUs shall be paid and settled within sixty (60) days after the Participant’s Termination Date (and such date shall be the “Settlement Date” for purposes of this Award Agreement). AMECURRENT 741325962.3 6-May-21 16:47
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Tenneco Inc)
Special Vesting Rules for Special Projects. If In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee and communicated to the Participant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as defined in subparagraph 3(b)) as a result of termination by the Company for reasons other than for cause on or after the first anniversary of the Grant Datecause, then the Participant shall be entitled to payment and settlement with respect to 100% of the Target PSUs subject to the Award for the Performance Period, which Target PSUs shall be paid and settled within sixty (60) days after the Participant’s Termination Date (and such date shall be the “Settlement Date” for purposes of this Award Agreement). AMECURRENT 741325962.3 6-May-21 16:47.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Tenneco Inc)
Special Vesting Rules for Special Projects. If the Participant is assigned to a special project with a limited scope (as approved by the Committee and communicated to the Participant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as defined in subparagraph 3(b) as a result of termination by the Company for reasons other than for cause on or after the first anniversary of the Grant Date, the Participant shall be entitled to payment and settlement with respect to 100% of the Target PSUs subject to the Award for the Performance Period, which Target PSUs shall be paid and settled within sixty (60) days after the Participant’s Termination Date (and such date shall be the “Settlement Date” for purposes of this Award Agreement). AMECURRENT 741325962.3 6-May-21 16:47.
Appears in 1 contract
Samples: Stock Settled Performance Share Unit Award Agreement (Tenneco Inc)
Special Vesting Rules for Special Projects. If In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee and communicated to or in accordance with guidelines established by the ParticipantCommittee) and if the Participant’s Termination Date occurs prior to the Settlement Date (as defined in determined under subparagraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for cause on or after the first anniversary of the Grant DateCause (as defined below), the Participant shall be entitled to payment and settlement with respect to 100% of the his or her Target PSUs subject to the Award for the Performance PeriodPSUs, which Target PSUs shall be paid and settled within sixty (60) days after the Participant’s Termination Date (and such date shall be the “Settlement Date” for purposes of this Award Agreement.). AMECURRENT 741325962.3 6-May-21 16:47
Appears in 1 contract
Samples: Cash Settled Long Term Performance Share Unit Award Agreement (Tenneco Inc)
Special Vesting Rules for Special Projects. If In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee and communicated to or in accordance with guidelines established by the ParticipantCommittee) and if the Participant’s Termination Date occurs prior to the Settlement Date (as defined in subparagraph determined under Paragraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for cause on or after Cause (as defined below), then the first anniversary amount of the Grant Date, Target Award that shall become the Participant shall be entitled to payment and settlement with respect to Vested Award is 100% of the Target PSUs Award subject to the Award for the Performance Periodthis Award, which Target PSUs Vested Award shall be paid and settled within sixty (60) days after the Participant’s Termination Date (and such date shall be the “Settlement Date” for purposes of this Award Agreement). AMECURRENT 741325962.3 6-May-21 16:47.
Appears in 1 contract
Samples: Cash Settled Long Term Performance Unit Award Agreement (Tenneco Inc)