Common use of Termination Without Cause, Non-Renewal, for Good Reason, Death or Disability Clause in Contracts

Termination Without Cause, Non-Renewal, for Good Reason, Death or Disability. In the event of Executive’s termination of employment with the Company (regardless of whether such termination is in connection with a Change in Control (as defined in the Agreement)) (i) by the Company without Cause (as defined in the Agreement), (ii) by reason of the failure of the Company to offer to renew the Agreement (as provided in the Agreement), (iii) by Executive for Good Reason (as defined in the Agreement) or (iv) as a result of Executive’s death or Disability (as defined in the Agreement), all Restricted Stock Units that have not already vested, as of the date of such termination, shall vest immediately and become nonforfeitable.

Appears in 9 contracts

Samples: Employment Agreement (Mirant Corp), Mirant Corporation Restricted Stock Unit Award Agreement (Mirant Corp), Employment Agreement (Mirant Corp)

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Termination Without Cause, Non-Renewal, for Good Reason, Death or Disability. In the event of Executive’s termination of employment with the Company (regardless of whether such termination is in connection with a Change in Control (as defined in the Agreement)) (i) by the Company without Cause (as defined in the Agreement)), (ii) by reason of the failure of the Company to offer to renew the Agreement (as provided in the Agreement), (iii) by Executive for Good Reason (as defined in the Agreement) or (iv) as a result of Executive’s death or Disability (as defined in the Agreement), all Restricted Stock Units Options that have not already vested, as of the date of such termination, termination shall vest immediately and become nonforfeitable.

Appears in 9 contracts

Samples: Employment Agreement (Mirant Corp), Employment Agreement (Mirant Corp), Employment Agreement (Mirant Americas Generating LLC)

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