Common use of Vesting and Forfeiture of Units Clause in Contracts

Vesting and Forfeiture of Units. (a) Units shall vest, and the Participant shall be entitled to settlement on Units, when the Restricted Period has ended. Except in the situations described below, if the Participant's Date of Termination occurs during the Restricted Period, then Units shall be forfeited. (b) Units shall vest prior to the end of the Restricted Period, and the Participant shall become entitled to settlement on Units, in the following situations: (i) If the Participant's Date of Termination occurs by reason of the Participant's death, Disability or Retirement, then the Units vest as of the Participant's Date of Termination. (ii) If (x) a Change in Control occurs prior to the end of the Restricted Period, (y) the Participant's Date of Termination does not occur before the Change in Control date, and (z) the Committee determines to accelerate such vesting, then the Units vest as of the date of the Change in Control. (c) The Participant shall forfeit all unvested Units as of the date on which the Committee determines the Participant materially violated (A) the provisions of paragraph 10 below or (B) any non-competition agreement which the Participant may have entered into with the Company.

Vesting and Forfeiture of Units. (a) Units shall vest, and the Participant shall be entitled to settlement on Units, when the applicable Restricted Period has ended. Except in the situations described below, if the Participant's Date of Termination occurs during the either Restricted Period, then unvested Units shall be forfeited. (b) Units shall vest prior to the end of the either Restricted Period, and the Participant shall become entitled to settlement on Units, in the following situations: (i) If the Participant's Date of Termination occurs by reason of the Participant's death, Disability death or RetirementDisability, then the Units vest as of the Participant's Date of Termination. (ii) If (x) a Change in Control occurs prior to the end of the either Restricted Period, (y) the Participant's Date of Termination does not occur before the Change in Control date, and (z) the Committee determines to accelerate such vesting, then the Units vest as of the date of the Change in Control. (c) The Participant shall forfeit all unvested Units as of the date on which the Committee determines the Participant materially violated (A) the provisions of paragraph 10 below or (B) any non-competition agreement which the Participant may have entered into with the Company.

Vesting and Forfeiture of Units. (a) Units If the Participant’s Date of Termination (as defined below) does not occur during the Restricted Period with respect to any Units, then, at the end of the Restricted Period for such Units, the Participant shall vestbecome vested only in those Units, and the Participant shall be entitled to settlement on Units, when the Restricted Period has ended. Except in the situations described below, if the Participant's Date with respect to such Units free of Termination occurs during the Restricted Period, then Units shall be forfeitedall restrictions otherwise imposed by this Agreement. (b) The Participant shall become vested in the Units, and become entitled to settlement with respect to such Units shall vest free of all restrictions otherwise imposed by this Agreement, prior to the end of the Restricted Period, and the Participant shall become entitled to settlement on Units, in the following situationsas follows: (i) If The Participant shall become vested in Units as of the Participant's ’s Date of Termination prior to the date the Units would otherwise become vested, if the Participant’s Date of Termination occurs by reason of the Participant's ’s death, Disability or Retirement, then the Units vest as of the Participant's Date of Termination. (ii) If The Participant shall become vested in Units as of the date of a Change in Control, if (xi) a the Change in Control occurs prior to the end of the Restricted Period, (yii) the Participant's ’s Date of Termination does not occur before the Change in Control date, and (ziii) the Committee determines to accelerate such vesting, then the Units vest as of the date of the Change in Control. (c) The Participant shall forfeit all unvested Units Units: (i) as of the Participant’s Date of Termination, except as otherwise provided in this paragraph 5, and (ii) as of the date on which the Committee determines the Participant materially violated (A) the provisions of paragraph 10 below or (B) any non-competition agreement which the Participant may have entered into with the Company.