Common use of Trade Sale Clause in Contracts

Trade Sale. In the event there is no IPO and ING US instead is divested by means of a trade sale of all or substantially all of ING US, then 50% of the Deal Incentive Award will vest and be paid to Recipient in cash upon the date of closing of such disposition (the “Trade Sale Closing”), provided that Recipient is employed by ING US on the date of such Trade Sale Closing, and the remaining 50% of the Deal Incentive Award will vest and be paid to Recipient in cash on the first anniversary of the Trade Sale Closing (the “First Anniversary”), provided that Recipient is employed by ING US or its successor or an affiliate of its successor on the date of the First Anniversary. If Recipient is terminated for reasons other than Cause by ING US or its successor or an affiliate of its successor during the period after the date of the Trade Sale Closing and prior to the First Anniversary, then the remaining 50% of the Deal Incentive Award will immediately vest and be paid to Recipient within 30 days of the date of Recipient’s involuntary termination for reasons other than Cause.

Trade Sale. In the event there is no IPO and ING US instead is divested by means of a trade sale of all or substantially all of ING US, then 50% of the Deal Incentive Award will vest and be paid to Recipient in cash upon the date of closing of such disposition (the “Trade Sale Closing”), provided that Recipient is employed by ING US on the date of such Trade Sale Closing, and the remaining 50% of the Deal Incentive Award will vest and be paid to Recipient in cash on the first anniversary of the Trade Sale Closing (the “First Anniversary”), provided that Recipient is employed by ING US or its successor or an affiliate of or its successor on the date of the First Anniversary. If Recipient is terminated for reasons other than Cause by ING US or its successor or an affiliate of its successor during the period after the date of the Trade Sale Closing and prior to the First Anniversary, then the remaining 50% of the Deal Incentive Award will immediately vest and be paid to Recipient within 30 days of the date of Recipient’s involuntary termination for reasons other than Cause.

Trade Sale. In the event there is no IPO and ING US instead is divested by means of a trade sale of all or substantially all of ING US, then 50% of the Deal Incentive Award will vest and be paid to Recipient in cash upon the date of closing of such disposition (the “Trade Sale Closing”), provided that Recipient is employed by a member of the board of directors of ING US on the date of such Trade Sale Closing, and the remaining 50% of the Deal Incentive Award will vest and be paid to Recipient in cash on the first anniversary of the Trade Sale Closing (the “First Anniversary”), provided that Recipient is employed by a member of the board of directors of ING US or its successor or an affiliate of its successor on the date of the First Anniversary. If Recipient Recipient's ING US board service is terminated for reasons other than Cause by ING US or its successor or an affiliate of its successor during the period after the date of the Trade Sale Closing and prior to the First Anniversary, then the remaining 50% of the Deal Incentive Award will immediately vest and be paid to Recipient within 30 days of the date the involuntary termination of Recipient’s involuntary termination 's board service for reasons other than Cause.