Common use of Termination After a Change of Control Clause in Contracts

Termination After a Change of Control. If, within 24 months after a Change of Control (A) described in paragraphs (a) or (d) of Section 2.8 of the Plan or (B) that constitutes a Business Combination as defined in paragraph (c) of Section 2.8 of the Plan and in connection with which the surviving or acquiring entity (or its parent entity) has continued, assumed or replaced this Performance Share Unit Award, you cease to be an Employee due either to an involuntary termination for reasons other than Cause (as defined in paragraph 7(b)) or a resignation for Good Reason (as defined in subparagraph 6(d)(v), then the Performance Period will be truncated and will end as of the end of the Company’s most recently completed fiscal year prior to the date you cease to be an Employee, and you will be entitled to have vest as of the date of such employment termination a number of Performance Share Units determined as provided in subparagraph 6(d)(iv).

Appears in 4 contracts

Samples: Performance Share Unit Award Agreement (Archer-Daniels-Midland Co), Performance Share Unit Award Agreement (Archer-Daniels-Midland Co), Performance Share Unit Award Agreement (Archer-Daniels-Midland Co)

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Termination After a Change of Control. If, within 24 months after a Change of Control (A) described in paragraphs (a), (d) or (de) of Section 2.8 2.7 of the Plan or (B) that constitutes a Business Combination as defined in paragraph (c) of Section 2.8 2.7 of the Plan and in connection with which the surviving or acquiring entity (or its parent entity) has continued, assumed or replaced this Performance Share Unit Award, you cease to be an Employee due either to an involuntary termination for reasons other than Cause (as defined in paragraph 7(b)) or a resignation for Good Reason (as defined in subparagraph 6(d)(v), then the Performance Period will be truncated and will end as of the end of the Company’s most recently completed fiscal year prior to the date you cease to be an Employee, and you will be entitled to have vest as of the date of such employment termination a number of Performance Share Units determined as provided in subparagraph 6(d)(iv).

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (Archer Daniels Midland Co)

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