Common use of Termination of Service Due to Death or Disability Clause in Contracts

Termination of Service Due to Death or Disability. If an Awardee’s service on the Board terminates by reason of death or Disability, the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.

Appears in 7 contracts

Samples: Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc)

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Termination of Service Due to Death or Disability. If an Awardee’s 's service on the Board terminates by reason of death or Disability, the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc), Restricted Stock Award Agreement (Waddell & Reed Financial Inc)

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