Common use of Special Vesting Rules for Special Projects Clause in Contracts

Special Vesting Rules for Special Projects. In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee or in accordance with guidelines established by the Committee) and if the Participant’s Termination Date occurs prior to the Settlement Date (as determined under subparagraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for Cause (as defined below), the Participant shall be entitled to payment and settlement with respect to 100% of his or her Target PSUs, 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.)

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Tenneco Inc)

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Special Vesting Rules for Special Projects. In the event that If the Participant is assigned to a special project with a limited scope (as approved by the Committee or in accordance with guidelines established by and communicated to the CommitteeParticipant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as determined under defined in subparagraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for Cause (as defined below)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 his or her the Target PSUsPSUs 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).)

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Tenneco Inc)

Special Vesting Rules for Special Projects. In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee or in accordance with guidelines established by the Committee) and if the Participant’s Termination Date occurs prior to the Settlement Date (as determined under subparagraph Paragraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for Cause (as defined below), then the Participant amount of the Target Award that shall be entitled to payment and settlement with respect to become the Vested Award is 100% of his or her the Target PSUsAward subject to this 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).)

Appears in 1 contract

Samples: Term Performance Unit Award Agreement (Tenneco Inc)

Special Vesting Rules for Special Projects. In the event that If the Participant is assigned to a special project with a limited scope (as approved by the Committee or in accordance with guidelines established by and communicated to the CommitteeParticipant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as determined under defined in subparagraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for Cause (as defined below)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 his or her the Target PSUsPSUs 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)

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Special Vesting Rules for Special Projects. In the event that the Participant is assigned to a special project with a limited scope (as approved by the Committee or in accordance with guidelines established by and communicated to the CommitteeParticipant) and if the Participant’s Termination Date occurs prior to the Settlement Date (as determined under defined in subparagraph 3(b)) as a result of termination by the Company or a Subsidiary for reasons other than for Cause (as defined below)cause, then the Participant shall be entitled to payment and settlement with respect to 100% of his or her the Target PSUsPSUs 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).)

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Tenneco Inc)

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