Common use of Termination by Reason of Death, Permanent Disability or Retirement Clause in Contracts

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Award is paid pursuant to Section 6 of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award equal to the value of the Performance Award determined based on the actual performance during the Performance Period multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:

Appears in 2 contracts

Samples: Wintrust Financial Corporation Performance Award Agreement (Wintrust Financial Corp), Wintrust Financial Corporation Performance Award Agreement (Wintrust Financial Corp)

AutoNDA by SimpleDocs

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Committee certifies the achievement of the applicable Performance Award is paid Criteria pursuant to Section 6 4(a) of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award equal to the value number of the Performance Award Shares determined based on the actual performance during the Performance Period multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:

Appears in 2 contracts

Samples: Performance Share Unit Agreement Shares Settled (Wintrust Financial Corp), Performance Share Unit Agreement Shares Settled (Wintrust Financial Corp)

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Award is paid settled pursuant to Section 6 of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award equal to the value number of the Performance Award shares of Common Stock determined based on the actual performance during the Performance Period multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:

Appears in 1 contract

Samples: Financial Corporation Performance Award Agreement (Wintrust Financial Corp)

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Award is paid settled pursuant to Section 6 of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award equal to the value number of shares of Common Stock subject to the Performance Award Award, determined based on the actual performance during the Performance Period and multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:

Appears in 1 contract

Samples: Wintrust Financial Corporation Performance Award Agreement (Wintrust Financial Corp)

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Cash Award is paid pursuant to Section 6 4 of this Agreement, then the Participant shall be entitled to a prorated Performance Cash Award, with such prorated award equal to the value of the Performance Cash Award determined based on the actual performance during the Performance Period multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:.

Appears in 1 contract

Samples: Performance Cash Award Agreement (Wintrust Financial Corp)

AutoNDA by SimpleDocs

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Award is paid settled pursuant to Section 6 4 of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award Award equal to the value number of the Performance Award Shares determined based on the actual performance during the Performance Period multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:.

Appears in 1 contract

Samples: Wintrust Financial Corporation Performance Share Unit Agreement (Wintrust Financial Corp)

Termination by Reason of Death, Permanent Disability or Retirement. In the event the employment of the Participant is terminated by reason of the Participant’s death, Permanent Disability or Retirement prior to the date on which the Performance Award is paid settled pursuant to Section 6 of this Agreement, then the Participant shall be entitled to a prorated Performance Award, with such prorated award equal to the cash value and number of shares of Common Stock subject to the Performance Award Award, determined based on the actual performance during the Performance Period and multiplied by a fraction, the numerator of which shall equal the number of full months such Participant was employed during the Performance Period and the denominator of which shall equal the number of full months in the Performance Period. For purposes of this Agreement:

Appears in 1 contract

Samples: Wintrust Financial Corporation Performance Award Agreement (Wintrust Financial Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.