Common use of Termination in Connection with a Sale Event Clause in Contracts

Termination in Connection with a Sale Event. Notwithstanding Section 4(b) above, if the Grantee’s Service Relationship with the Company or its Subsidiaries is terminated by the Company without Cause or by the Grantee for Good Reason, in either case within 24 months after a Sale Event (such event a “Qualifying Termination”) the Award shall vest as follows: (i) if the Qualifying Termination occurs on or before December 31, 2015, 100% of the Target Award shall be deemed earned by the Grantee and shall become fully vested and nonforfeitable as of the date of the Qualifying Termination and (ii) if the Qualifying Termination occurs after December 31, 2015, the number of Restricted Stock Units earned by the Grantee shall be determined as provided in Section 3(a) and the full amount of the Award earned shall become fully vested and nonforfeitable as of the date of the Qualifying Termination.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Insulet Corp)

AutoNDA by SimpleDocs

Termination in Connection with a Sale Event. Notwithstanding Section 4(b) above, if the Grantee’s Service Relationship employment with the Company or and its Subsidiaries is terminated by the Company without Cause or by the Grantee for Good Reason, in either case within 24 months after a Sale Event (such event a “Qualifying Termination”) the Award shall vest as follows: (i) if the Qualifying Termination occurs on or before December 31, 20152017, 100% of the Target Award shall be deemed earned by the Grantee and shall become fully vested and nonforfeitable as of the date of the Qualifying Termination and (ii) if the Qualifying Termination occurs after December 31, 20152017, the number of Restricted Stock Units earned by the Grantee shall be determined as provided in Section 3(a) and the full amount of the Award earned shall become fully vested and nonforfeitable as of the later of the date of the Qualifying TerminationTermination or the Determination Date.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Insulet Corp)

Termination in Connection with a Sale Event. Notwithstanding Section 4(b) above, if the Grantee’s Service Relationship with the Company or its Subsidiaries is terminated by the Company without Cause or by the Grantee for Good Reason, in either case within 24 months after a Sale Event (such event a “Qualifying Termination”) the Award shall vest as follows: (i) if the Qualifying Termination occurs on or before December 31, 20152017, 100% of the Target Award shall be deemed earned by the Grantee and shall become fully vested and nonforfeitable as of the date of the Qualifying Termination and (ii) if the Qualifying Termination occurs after December 31, 20152017, the number of Restricted Stock Units earned by the Grantee shall be determined as provided in Section 3(a) and the full amount of the Award earned shall become fully vested and nonforfeitable as of the later of the date of the Qualifying TerminationTermination or the Determination Date.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Insulet Corp)

AutoNDA by SimpleDocs

Termination in Connection with a Sale Event. Notwithstanding Section 4(b) above, if the Grantee’s Service Relationship with the Company or its Subsidiaries is terminated by the Company without Cause or by the Grantee for Good Reason, in either case within 24 months after a Sale Event (such event event, a “Qualifying Termination”) ), the Award shall vest as follows: (i) if the Qualifying Termination occurs on or before prior to December 31, 2015[____], 100% of the Target entire Award shall be deemed earned by the Grantee and shall become fully vested and nonforfeitable as of the date of the Qualifying Termination and (ii) if the Qualifying Termination occurs on or after December 31, 2015[____], the number of Restricted Stock Units earned by the Grantee a determination shall be determined made as provided in Section 3(a) 3 as to whether the Grantee has earned the Award, and the full amount of the Award earned entire Award, if so earned, shall become fully vested and nonforfeitable as of on the date of the Qualifying TerminationDetermination Date.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Insulet Corp)

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