Treatment of PSUs Upon Retirement Sample Clauses

Treatment of PSUs Upon Retirement. Subject to the terms and conditions set forth in this Section 5, in the event of the Grantee’s Retirement (as defined below) before the Grantee's interest in the PSUs becomes fully vested and nonforfeitable or is forfeited, then (i) the Grantee’s interest in the PSUs will not be forfeited immediately and will no longer be subject to the vesting provisions of Section 3 or Section 4 of this Agreement, (ii) if the Grantee’s Retirement occurs before the awarding of a Tranche, the Grantee’s interest in the PSUs in the Tranche will not be forfeited immediately and will continue to be eligible to become Awarded PSUs in accordance with Section 2 or Section 4(a)(1)(A) BXXXX & BXXXX, INC.PERFORMANCE STOCK UNIT AWARD AGREEMENT(Key Corporate Leaders / Profit Center Leaders / Other Leaders) of this Agreement, and (iii) the Awarded PSUs will become payable in accordance with subsection (b) or (c) of this Section 5, whichever is applicable. The Grantee’s right to payment of the PSUs will not be affected by a Disability incurred by the Grantee after the Grantee’s Retirement.
Sample 1
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Related to Treatment of PSUs Upon Retirement

  • Certain Benefits Upon Termination Executive’s employment shall be terminated upon the earlier of (i) the voluntary resignation of Executive with or without Good Reason; (ii) Executive’s death or permanent disability; or (iii) upon the termination of Executive’s employment by LTC for any reason at any time. In the event of such termination, the below provisions of this Section 6 shall apply, and in the event of a Change in Control, whether or not Executive’s employment is terminated thereby, Section 6(b) shall apply.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • Termination by Reason of Retirement If the Grantee's employment by the Company terminates by reason of Retirement (as defined in the Plan), the Restricted Stock Units granted hereunder shall not be forfeited but shall be settled in Stock to the Grantee on the same schedule as provided in Section 2 (or otherwise) as if the Grantee had continued employment through each such Vesting Date (or such other vesting event pursuant to Section 3.4 or Section 5.2).

  • TERMINATION UPON RETIREMENT, DISABILITY OR DEATH Termination by the Bank of the Executive based on "

  • Acceleration of Vesting Upon Change in Control Effective at the time of a Change in Control, all unvested stock options and stock previously issued to Executive as to which rights of ownership are subject to forfeiture shall immediately vest; all risk of forfeiture of the ownership of stock or stock options and restrictions on the exercise of options shall lapse; and, Executive shall be entitled to exercise any or all options, such that the underlying shares will be considered outstanding at the time of the Change in Control.

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • PAYMENTS UPON A CHANGE IN CONTROL (a) The term “

  • Payments Upon Termination (a) In the event the Employee’s employment is terminated pursuant to Section 4.1, Section 4.2, Section 4.4 or Section 4.6, the Company shall pay to the Employee the compensation and benefits otherwise payable to him or her under Sections 3.1 and 3.4 through the last day of his or her actual employment by the Company.

  • Compensation During Disability or Upon Termination (i) If, during the Protected Period, Employee fails to perform Employee's normal duties as a result of incapacity due to physical or mental illness, Employee shall continue during the period of such disability to receive Employee's full Base Salary and any awards, deferred and nondeferred, payable during such period under the Bonus Plan, less any amounts paid to Employee during such period of disability pursuant to the Company's short term disability or sick-leave program(s) until Employee's employment is terminated or such Disability ends. This Section 4(i) shall not reduce or impair Employee's rights to terminate employment for a Good Reason as otherwise provided herein.

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