Common use of Vesting or Payment of Benefits Clause in Contracts

Vesting or Payment of Benefits. If a Triggering Event occurs, upon the occurrence of such Triggering Event the Executive shall have a vested and nonforfeitable right to receive any and all employment-related employee benefits previously awarded to the Executive which have not previously vested, including but not limited to rights under any pension, retirement, stock option, stock purchase, stock appreciation right, savings, profit sharing, deferred compensation, consulting, bonus, group insurance or other employee benefit, incentive or welfare contract, plan or arrangement.