Common use of Termination by the Company Not For Cause Clause in Contracts

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary or affiliate, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e) below and Plan Section 11(k)). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 3 contracts

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co), Performance Share Units Agreement (Bristol Myers Squibb Co), Performance Share Units Agreement (Bristol Myers Squibb Co)

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Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f6(g)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii6(f)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e6(f) below and Plan Section 11(k)the 409A Compliance Rules), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e6(f) below and Plan Section 11(k)the 409A Compliance Rules). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which that thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 2 contracts

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co), Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change (as defined in ControlSection 6(f)), prior to vesting settlement of Performance Share UnitsShares and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Shares that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Shares relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided Shares you would have actually earned for that Performance Year if you have been had continued to be employed by through the Company or a subsidiary date the Committee determines the earning of the Company Performance Shares for at least one year following that Performance Year under Section 4 (for this purpose, if the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed grant of Performance Shares relating to the Performance Year in the United States or Puerto Rico progress at the time date of your Termination Not for CauseCause has not yet become effective, you such grant shall be entitled deemed to be effective immediately before your termination and shall have the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and same terms as applicable to participating employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminateswho remain employed). Any Performance Share Units deemed Shares earned and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units Shares would have settled vested if you had continued to be employed by the Company or a subsidiary or affiliateaffiliate or within the period extending to April 1 of that vesting year, (ii) ), in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days as to previously earned Performance Shares promptly upon such Change in Control and, in the case of any unearned Performance Shares (subject to Section 1), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units Shares have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k) of the Plan), or (iii), in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Shares have been earned) or, if your death occurred after that year, as promptly as practicable following your death. Following such Termination Not for Cause, any Performance Share Units Shares that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 2 contracts

Samples: Performance Shares Agreement (Bristol Myers Squibb Co), Performance Shares Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change in ControlPeriod, prior to vesting of Performance Share UnitsUnits and after you have satisfied the one-year or other applicable employment requirement of Section 2, you will be deemed vested in a prorated portion proportionate number of the Performance Share Units granted, provided granted that you have been employed determined or thereafter are determined by the Company or a subsidiary of the Company for at least one year following the Award DateCommittee to have been banked and modified under Section 4; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute or revoke the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unbanked and unvested as of the date your employment terminates. Any Performance Share Units deemed banked and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary or affiliate, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested banked and/or modified (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals TSR Modifier shall be determined by substituting for the TSR Measurement Date the date of the Change in accordance with Plan Section 9(a)(ii)Control, or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested banked in accordance with Section 4 (in each case, subject to Section 6(e) below and Plan Section 11(k)), provided that the TSR Modifier shall not be applied to your award in the event of your death. Following such Termination Not for Cause, any Performance Share Units that have not been banked, modified and vested and which thereafter will not be deemed banked, modified and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f6(g)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii6(f)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e6(f) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e6(f) below and Plan Section 11(k)). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) below) by the Company or a subsidiary an Affiliate or affiliate Subsidiary and not during the Protected Period following a Change (as defined in ControlSection 6(f) below), prior to vesting settlement of Performance Share UnitsShares and after you have satisfied the one-year continuous employment requirement of Section 2, you will be deemed vested (i) in any Performance Shares that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii) with respect to Performance Shares relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided Shares you would have actually earned for that Performance Year if you have been had continued to be employed by the Company or a subsidiary an Affiliate or Subsidiary through the date the Committee determines the earning of the Company Performance Shares for at least one year following that Performance Year under Section 4. (For this purpose, if the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed grant of Performance Shares relating to the Performance Year in the United States or Puerto Rico progress at the time date of your Termination Not for CauseCause has not yet become effective, you such grant shall be entitled deemed to be effective immediately before your termination and shall have the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and same terms as applicable to participating employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminateswho remain employed). Any Performance Share Units deemed Shares earned and vested under this Section 6(b) shall be settled at the earlier of (ix) the date such Performance Share Units Shares would have settled vested if you had continued to be employed by the Company or a subsidiary an Affiliate or affiliateSubsidiary, (iiy) in the event of a Change in Control meeting (as defined in Section 11(k)(i)(D)(5) of the conditions of Section 6(e)(iiPlan), within 60 days as to previously earned Performance Shares promptly upon such Change in Control and, in the case of any unearned Performance Shares (subject to Section 1 above), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units Shares have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k) of the Plan)), or (z) in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Shares have been earned) or, if your death occurred after that year, as promptly as practicable following your death, but in no event later than December 31 of the calendar year in which your death occurs or, if later, two and one-half months following the date of your death. Following such Termination Not for Cause, any Performance Share Units Shares that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Shares Agreement (Mead Johnson Nutrition Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f6(g)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii6(f)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e6(f) below and Plan Section 11(k16.15(b)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii13.1(d)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e6(f) below and Plan Section 11(k16.15(b)). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change (as defined in Controlthe Plan), prior to vesting settlement of Performance Share UnitsUnits and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Share Units that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii) with respect to Performance Share Units relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided you would have actually earned for that Performance Year if you have been had continued to be employed by through the Company or a subsidiary date the Committee determines the earning of the Company Performance Share Units for that Performance Year under Section 4 (for this purpose, if the grant of Performance Share Units relating to the Performance Year in progress at least one year following the Award Date; provideddate of your Termination Not for Cause has not yet become effective, however, that if you are not eligible for Retirement, such grant shall be deemed to be effective immediately before your termination and shall have the same terms as applicable to participating employees who remain employed). If you are employed in the United States or (including in Puerto Rico at the time of your Termination Not Rico), and you are not eligible for CauseRetirement pursuant to Plan Sections 2(x)(i) and 2(x)(ii), you shall be entitled to the pro rata vesting described in this Section 6(b) the preceding sentence only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company and, where deemed applicable by the Company, a non-compete and/or a non-solicitation agreement; if you fail to execute or revoke the release or fail to execute the release, non-compete or your release fails to become effective and irrevocable within 60 days of the date your employment terminatesnon-solicitation agreement, you shall forfeit any Performance Share Units that are unearned and unvested as of the date your employment terminates. Any Performance Share Units deemed earned and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary or affiliate, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days as to previously earned Performance Share Units, promptly upon such Change in Control and, in the case of any unearned Performance Share Units (subject to Section 1), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k)), or (iii) in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Share Units have been earned) or, if your death occurred after that year, as promptly as practicable following your death. Following such Termination Not for Cause, any Performance Share Units that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change (as defined in ControlSection 6(f)), prior to vesting settlement of Performance Share UnitsUnits and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Share Units that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii) with respect to Performance Share Units relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided you would have actually earned for that Performance Year if you have been had continued to be employed by through the Company or a subsidiary date the Committee determines the earning of the Company Performance Share Units for that Performance Year under Section 4 (for this purpose, if the grant of Performance Share Units relating to the Performance Year in progress at least one year following the Award Date; provideddate of your Termination Not for Cause has not yet become effective, however, that if you are not eligible for Retirement, such grant shall be deemed to be effective immediately before your termination and shall have the same terms as applicable to participating employees who remain employed). If you are employed in the United States or (including in Puerto Rico at the time of your Termination Not Rico), and you are not eligible for CauseRetirement, you shall be entitled to the pro rata vesting described in this Section 6(b) the preceding sentence only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company and, where deemed applicable by the Company, a non-compete and/or a non-solicitation agreement; if you fail to execute or revoke the release or fail to execute the release, non-compete or your release fails to become effective and irrevocable within 60 days of the date your employment terminatesnon-solicitation agreement, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed earned and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary or affiliate, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days as to previously earned Performance Share Units, promptly upon such Change in Control and, in the case of any unearned Performance Share Units (subject to Section 1), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k)), or (iii) in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Share Units have been earned) or, if your death occurred after that year, as promptly as practicable following your death. Following such Termination Not for Cause, any Performance Share Units that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change in ControlPeriod, prior to vesting of Performance Share UnitsUnits and after you have satisfied the one-year or other applicable employment requirement of Section 2, you will be deemed vested in a prorated portion proportionate number of the Performance Share Units granted, provided granted that you have been employed determined or thereafter are determined by the Company or a subsidiary of the Company for at least one year following the Award DateCommittee to have been banked and modified under Section 4; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company and, where deemed applicable by the Company, you execute a non-compete and/or a non-solicitation agreement; if you fail to execute or revoke the release or fail to execute the releasenon-compete or non-solicitation agreement, or your release and/or non-compete or non-solicitation agreement fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unbanked and unvested as of the date your employment terminates. Any Performance Share Units deemed banked and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary or affiliate, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested banked and/or modified (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals TSR Modifier shall be determined by substituting for the TSR Measurement Date the date of the Change in accordance with Plan Section 9(a)(ii)Control, or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested banked in accordance with Section 4 (in each case, subject to Section 6(e) below and Plan Section 11(k)), provided that the TSR Modifier shall not be applied to your award in the event of your death. Following such Termination Not for Cause, any Performance Share Units that have not been banked, modified and vested and which thereafter will not be deemed banked, modified and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

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Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f6(g)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii6(f)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e6(f) below and Plan Section 11(k14(c)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii13(e)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e6(f) below and Plan Section 11(k14(c)). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change (as defined in ControlSection 6(f)), prior to vesting settlement of Performance Share UnitsUnits and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Share Units that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Share Units relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided you would have actually earned for that Performance Year if you have been had continued to be employed by through the Company or a subsidiary date the Committee determines the earning of the Company Performance Share Units for that Performance Year under Section 4 (for this purpose, if the grant of Performance Share Units relating to the Performance Year in progress at least one year following the Award Date; provideddate of your Termination Not for Cause has not yet become effective, however, that if you are not eligible for Retirement, such grant shall be deemed to be effective immediately before your termination and shall have the same terms as applicable to participating employees who remain employed). If you are employed in the United States or (including in Puerto Rico at the time of your Termination Not Rico), and you are not eligible for CauseRetirement, you shall be entitled to the pro rata vesting described in this Section 6(b) the preceding sentence only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company and, where deemed applicable by the Company, a non-compete and/or a non-solicitation agreement; if you fail to execute or revoke the release or fail to execute the release, non-compete or your release fails to become effective and irrevocable within 60 days of the date your employment terminatesnon-solicitation agreement, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed earned and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled vested if you had continued to be employed by the Company or a subsidiary or affiliateaffiliate or within the period extending to April 1 of that vesting year, (ii) ), in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days as to previously earned Performance Share Units promptly upon such Change in Control and, in the case of any unearned Performance Share Units (subject to Section 1), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k) of the Plan), or (iii), in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Share Units have been earned) or, if your death occurred after that year, as promptly as practicable following your death. Following such Termination Not for Cause, any Performance Share Units that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e) below and Plan Section 11(k)). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f6(g)) by the Company or a subsidiary of the Company or affiliate of the Company and not during the Protected Period following a Change in Control, prior to vesting of Performance Share Units, you will be deemed vested in a prorated portion of the Performance Share Units granted, provided that you have been employed by the Company or a subsidiary of the Company for at least one year following the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed in the United States or Puerto Rico at the time of your Termination Not for Cause, you shall be entitled to the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminates. Any Performance Share Units deemed vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled if you had continued to be employed by the Company or a subsidiary of the Company or affiliateaffiliate of the Company, (ii) in the event of a Change in Control meeting the conditions of Section 6(e)(ii6(f)(ii), within 60 days following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e6(f) below and Plan Section 11(k)) of the Plan), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) of the Plan in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 (in each case, subject to Section 6(e6(f) below and Plan Section 11(k)) of the Plan). Following such Termination Not for Cause, any Performance Share Units that have not been vested and which thereafter will not be deemed vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as defined in Section 6(f)) by the Company or a subsidiary or affiliate and not during the Protected Period following a Change (as defined in ControlSection 6(f)), prior to vesting settlement of Performance Share UnitsUnits and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Share Units that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Share Units relating to a Performance Year in progress at the date of such termination, in a prorated portion Pro Rata Portion of the Performance Share Units granted, provided you would have actually earned for that Performance Year if you have been had continued to be employed by through the Company or a subsidiary date the Committee determines the earning of the Company Performance Share Units for at least one year following that Performance Year under Section 4 (for this purpose, if the Award Date; provided, however, that if you are not eligible for Retirement, and you are employed grant of Performance Share Units relating to the Performance Year in the United States or Puerto Rico progress at the time date of your Termination Not for CauseCause has not yet become effective, you such grant shall be entitled deemed to be effective immediately before your termination and shall have the pro rata vesting described in this Section 6(b) only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and same terms as applicable to participating employees in a form satisfactory to the Company; if you revoke or fail to execute the release, or your release fails to become effective and irrevocable within 60 days of the date your employment terminates, you shall forfeit any Performance Share Units that are unvested as of the date your employment terminateswho remain employed). Any Performance Share Units deemed earned and vested under this Section 6(b) shall be settled at the earlier of (i) the date such Performance Share Units would have settled vested if you had continued to be employed by the Company or a subsidiary or affiliateaffiliate or within the period extending to April 1 of that vesting year, (ii) ), in the event of a Change in Control meeting the conditions of Section 6(e)(ii), within 60 days as to previously earned Performance Share Units promptly upon such Change in Control and, in the case of any unearned Performance Share Units (subject to Section 1), promptly following the date at which the Committee determines (which determination shall be made within 15 days after the Change in Control) the extent to which such Performance Share Units have been deemed vested (subject to Section 6(e) below and Plan Section 11(k)), where the achievement of the Performance Goals shall be determined in accordance with Plan Section 9(a)(ii), or (iii) in the event of your death, within 60 days following the later of (x) your death, or (y) the date upon which the Committee determines the extent to which such Performance Share Units have been deemed vested in accordance with Section 4 earned (in each case, case subject to Section 6(e) below and Plan Section 11(k) of the Plan), or (iii), in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Share Units have been earned) or, if your death occurred after that year, as promptly as practicable following your death. Following such Termination Not for Cause, any Performance Share Units that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited.

Appears in 1 contract

Samples: Performance Share Units Agreement (Bristol Myers Squibb Co)

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