Common use of Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM Clause in Contracts

Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM. a. Upon an involuntary Termination of Employment by WM without Cause (as defined in paragraph 6.d.iii. below), Employee shall, subject to paragraph 2.e below, be entitled to receive the PSU Awarded Shares and related Dividend Equivalents that Employee would have been entitled to under this Agreement if Employee had remained employed until the last day of the Performance Period and determined based upon actual Achievement through the end of the Performance Period multiplied by the fraction which has as its numerator the total number of days that Employee was employed by WM during the Performance Period and has as its denominator 1096 (which amount shall be issued and paid as soon as practicable and no later than 74 days following the end of the Performance Period).

Appears in 3 contracts

Samples: 2022 Long Term Incentive Compensation Award Agreement (Waste Management Inc), Award Agreement (Waste Management Inc), Award Agreement (Waste Management Inc)

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Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM. a. Upon an involuntary Termination of Employment by WM without Cause (as defined in paragraph 6.d.iii6.c.iii. below)) or upon Employee’s Retirement, Employee shall, subject to paragraph 2.e below, shall be entitled to receive the PSU Awarded Shares and related Dividend Equivalents that Employee would have been entitled to under this Agreement if Employee had remained employed until the last day of the Performance Period and determined based upon actual Achievement through the end of the Performance Period multiplied by the fraction which has as its numerator the total number of days that Employee was employed by WM during the Performance Period and has as its denominator 1096 1095 (which amount shall be issued and paid as soon as practicable and no later than 74 days following the end of the Performance Period).

Appears in 1 contract

Samples: Award Agreement (Waste Management Inc)

Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM. a. Upon an involuntary Termination of Employment by WM without Cause (as defined in paragraph 6.d.iii. below), Employee shall, subject to paragraph 2.e below, be entitled to receive the PSU Awarded Shares and related Dividend Equivalents that Employee would have been entitled to under this Agreement if Employee had remained employed until the last day of the Performance Period and determined based upon actual Achievement through the end of the Performance Period multiplied by the fraction which has as its numerator the total number of days that Employee was employed by WM during the Performance Period and has as its denominator 1096 (which amount shall be issued and paid as soon as practicable and no later than 74 days following the end of the Performance Period).

Appears in 1 contract

Samples: Award Agreement (Waste Management Inc)

Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM. a. Upon an involuntary Termination of Employment by WM without Cause (as defined in paragraph 6.d.iii. below), Employee shall, subject to paragraph 2.e below, be entitled to receive the PSU Awarded Shares and related Dividend Equivalents that Employee would have been entitled to under this Agreement if Employee had remained employed until the last day of the Performance Period and determined based upon actual Achievement through the end of the Performance Period multiplied by the fraction which has as its numerator the total number of days that Employee was employed by WM during the Performance Period and has as its denominator 1096 1095 (which amount shall be issued and paid as soon as practicable and no later than 74 days following the end of the Performance Period).

Appears in 1 contract

Samples: Award Agreement (Waste Management Inc)

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Treatment of PSU Award Upon Retirement or Involuntary Termination of Employment Without Cause by WM. a. Upon an involuntary Termination of Employment by WM without Cause (as defined in paragraph 6.d.iii6.c.iii. below) or upon Employee’s Normal Retirement (as defined in paragraph 2.d.i. below), Employee shall, subject to paragraph 2.e below, shall be entitled to receive the PSU Awarded Shares and related Dividend Equivalents that Employee would have been entitled to under this Agreement if Employee had remained employed until the last day of the Performance Period and determined based upon actual Achievement through the end of the Performance Period multiplied by the fraction which has as its numerator the total number of days that Employee was employed by WM during the Performance Period and has as its denominator 1096 1095 (which amount shall be issued and paid as soon as practicable and no later than 74 days following the end of the Performance Period).

Appears in 1 contract

Samples: Award Agreement (Waste Management Inc)

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