Common use of Termination by Tyson without Cause or by you for Good Reason Clause in Contracts

Termination by Tyson without Cause or by you for Good Reason. In the event of your Termination of Employment by your Employer other than for Cause or by you for Good Reason before the Vesting Date, you shall vest in a pro rata portion of the Award if the applicable performance measures set forth in Section 4 are satisfied contingent upon your timely execution and non-revocation of a Release. The pro rata portion of the Award shall by determined by multiplying the amount of the Award that you would have received had you remained employed until the Vesting Date by a fraction, the numerator of which is number of days during which you remained employed by your Employer from the Grant Date and the denominator of which is the total number of days in the Vesting Period. Notwithstanding the foregoing, if there is a Change in Control prior to the Final Measurement Date, payment of the Award will be based on performance at the level determined in accordance with the provisions of Section 3.4.

Appears in 7 contracts

Samples: Stock Incentive Award Agreement (Tyson Foods, Inc.), Stock Incentive Award Agreement (Tyson Foods, Inc.), Stock Incentive Award Agreement (Tyson Foods, Inc.)

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Termination by Tyson without Cause or by you for Good Reason. In the event of your Termination of Employment by your Employer Tyson other than for Cause or by you for Good Reason before the Vesting Date, you shall vest in will become entitled to a pro rata portion of the Award if the applicable performance measures set forth in Section 4 are satisfied contingent upon your timely execution and non-revocation of a Release. The pro rata portion of the Award shall by determined by multiplying the amount of the Award that you would have received had you remained employed until the Vesting Date by a fraction, the numerator of which is number of days during which you remained employed by your Employer Tyson and/or its affiliates from the Grant Date and the denominator of which is the total number of days in the Vesting Period. Notwithstanding the foregoing, if there is a Change in Control prior to the Final Measurement Date, payment of the Award will be based on performance at the level determined in accordance with the provisions of Section 3.4.

Appears in 1 contract

Samples: Stock Incentive Award Agreement (Tyson Foods Inc)

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