Common use of Termination of Employment Before Vesting Date Clause in Contracts

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or (ii) Normal Retirement, or (iii) early retirement or termination of employment (other than for Cause), in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii) or (iii) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of termination. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group during any Vesting Period prior to the a Period Vesting Date due to (i) death, Disability or (ii) Normal Retirement, or (iii) early retirement or termination of employment (other than for Causecause), in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the a Period Vesting Date in circumstances not specified in items (i), (ii) or (iii) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationtermination for the Vesting Period during which the termination occurred and any subsequent Vesting Periods. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal RetirementRetirement,(iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of June 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), ) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationRSUs. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Compensation Committee or its designee may, in its sole discretion, accelerate the vesting of vest some or all of such unvested the RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a2(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal Retirement, (iii) termination of employment unilaterally by the Company (other than for cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), cause) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the a Period Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon for the date of terminationVesting Periods during which the termination occurred. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Compensation Committee or its designee may, in its sole discretion, accelerate the vesting of vest some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a2(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal RetirementRetirement,(iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), ) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationRSUs. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Compensation Committee or its designee may, in its sole discretion, accelerate the vesting of vest some or all of such unvested the RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a2(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal RetirementRetirement,(iii) termination of employment unilaterally by the Company (other than for cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), cause) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationRSUs. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Compensation Committee or its designee may, in its sole discretion, accelerate the vesting of vest some or all of such unvested the RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a2(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal Retirement, (iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), ) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 3(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of termination. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group during any Vesting Period prior to the a Period Vesting Date due to (i) death, Disability or (ii) Normal Retirement, or (iii) early retirement or termination of employment (other than for Causecause), in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the a Period Vesting Date in circumstances not specified in items (i), (ii) or (iii) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationtermination for the Vesting Period during which the termination occurred and any subsequent Vesting Periods. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal Retirement, (iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), ) in either case by mutual agreement [between the PMI Group and the Employee Employee] and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 3(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of termination. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or Disability, (ii) Normal Retirement, (iii) termination of employment unilaterally by the Company (other than for Cause), as set forth in the agreement with the Employee effective as of May 1, 2020 (the “Employment Agreement”), or (iiiiv) early retirement or termination of employment (other than for Cause), ) in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement; provided, however, that the event of the termination set forth in item (iii) of this Section 2(a), the vesting would be further subject to the terms of the Employment Agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii), (iii) or (iiiiv) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of terminationRSUs. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Compensation Committee or its designee may, in its sole discretion, accelerate the vesting of vest some or all of such unvested the RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a2(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.

Termination of Employment Before Vesting Date. (a) In the event of the termination of the Employee’s employment with the PMI Group prior to the Vesting Date due to (i) death, Disability or (ii) Normal Retirement, or (iii) early retirement or termination of employment (other than for Cause), in either case by mutual agreement between the PMI Group and the Employee and after the Employee has attained age 58, then the RSUs shall become fully vested on the date of death, Disability, Normal Retirement, or such early retirement or termination of employment or the date specified in such mutual agreement. (b) Subject to the provisions of section 6(a) of the Plan, if the Employee’s employment with the PMI Group is terminated prior to the Vesting Date in circumstances not specified in items (i), (ii) or (iii) of the preceding paragraph, the Employee shall forfeit all rights to the unvested RSUs immediately upon the date of termination. Notwithstanding the foregoing and except as provided in section 6(a) of the Plan, upon the termination of an Employee’s employment with the PMI Group, the Committee or its designee may, in its sole discretion, accelerate the vesting of some or all of such unvested RSUs. (c) If within the period of 12 months prior to the date of termination of employment, the Employee was an Executive Officer (as designated by the Board of Directors of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) and the termination of employment of such Employee is due to a reason other than death or Disability, any shares of Common Stock that are received by such Employee as a result of accelerated vesting provisions of Section 3(a) or (b), shall be automatically subject to a holding period that expires 12 consecutive months from the date of termination of employment. (d) Subject to the provisions of Section 9 of the Agreement, the Company shall have the exclusive discretion to determine when the Employee is no longer an Employee of the PMI Group for purposes of vesting or forfeiture of the Award under this Agreement for end of employment related cases or activities.