Vesting Upon Disability Clause Samples
The "Vesting Upon Disability" clause defines how an individual's unvested equity or benefits become fully or partially vested if they become disabled. Typically, this clause applies to employees or contractors who are granted stock options or other equity awards, and it specifies that if the person is unable to continue working due to a qualifying disability, some or all of their unvested shares will immediately vest. This provision ensures that individuals who can no longer perform their duties due to disability are not unfairly penalized by losing out on earned equity, providing financial protection and recognizing their contributions up to the point of disability.
Vesting Upon Disability. If, prior to you being deemed vested in any of the Units awarded you under this Agreement pursuant to paragraph 2, 3, 5, or 6 hereof, you become Disabled (as defined in subsection 2.9 of the Plan) while you are an Employee of CBI, then (i) you shall be deemed vested in the number of Units (rounded up to the nearest whole Unit) that bears the same ratio to the total number of Units awarded you under this Agreement as the number of days in the period that begins on the Award Date and ends on the date you become Disabled bears to the number of days in the period that begins on the Award Date and ends on the third annual anniversary of the Award Date; and (ii) within the 60 consecutive day period that begins on the date on which you become Disabled, CBI shall distribute to you a number of Shares equal to the number of Units in which you have become vested under this paragraph 4 (subject to the tax withholding requirements included in the Plan). For the avoidance of doubt, to the extent the Units granted under this Award constitute “deferred compensation” for purposes of Section 409A of the Code, the conditions required to be met for you to be “Disabled” must also constitute a “disability” as defined in Treasury Regulation Section 1.409A-3(i)(4).
Vesting Upon Disability. [--] Service for vesting purposes granted to a Disabled Participant during Qualified Military Service. (Must select if making Employer Contributions for Disabled Participants Differential Wage Payments [X] Differential Wage Payments treated as Compensation during Qualified Military Service
Vesting Upon Disability. The Employer shall specify in its Adoption ----------------------- Agreement the Nonforfeitable percentage of a Participant's Employer Contributions Account in the event of the disability of the Participant. The Plan shall consider a Participant disabled on the date the Plan Administrator determines that the Participant, because of a physical or mental disability, is unable to engage in any substantial gainful activity and that the disability can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. The Plan Administrator may require a Participant to submit to a physical examination in order to confirm disability. The Plan Administrator shall apply the provisions of this Section in a nondiscriminatory, consistent and uniform manner.
Vesting Upon Disability. If pursuant to the applicable disability provision of any Employment Agreement, you become disabled and such disability prevents you from fulfilling the usual duties of your job and is expected to continue indefinitely, all as determined by the Company, or, if no such provision exists or you are not party to an Employment Agreement, you become disabled to such extent that you are unable to perform the usual duties of your job for a period that is expected to continue indefinitely, all as determined by the Company, then the number of LTIP Units (rounded up to the nearest whole LTIP Unit) that bears the same ratio to the Target LTIP Unit Award as the number of days from the beginning of the Performance Period through the date of your disability bears to 1,095 will be deemed to be Earned LTIP Units. You will become vested in such Earned LTIP Units as of the date of your disability. Any LTIP Units that are not deemed to be Earned LTIP Units pursuant to the calculation described in the preceding sentence shall be forfeited to CyrusOne as of the date of your termination of employment in accordance with the terms of Section 6 hereof.
Vesting Upon Disability. If, prior to your being deemed vested in the Award pursuant to paragraph 2, 3 or 5 hereof, your employment with CBI and its subsidiaries is terminated due to Disability (as defined in subsection 2.9 of the Plan), then (i) you shall be deemed vested in a pro rata portion of the Restricted Cash Amount that bears the same ratio to the total Restricted Cash Amount awarded you under this Agreement as the number of days in the period that begins on the Award Date and ends on the date of such termination bears to the number of days in the period that begins on the Award Date and ends on the third annual anniversary of the Award Date; provided that, in the event your termination due to Disability occurs following a Change in Control, you shall be deemed vested in the portion of the Restricted Cash Amount that would have vested on the next CIC Vesting Date immediately following the date of such termination; and (ii) within the 60 consecutive day period that begins on the date of such termination, CBI shall distribute to you a cash payment equal to the pro rata portion of the Restricted Cash Amount in which you have become vested under this paragraph 4 (subject to all applicable tax withholding requirements).
Vesting Upon Disability. If, prior to your being deemed vested in the Award pursuant to paragraph 2, 3 or 5 hereof, your employment with CBI and its subsidiaries is terminated due to Disability (as defined in subsection 2.9 of the Plan), then (i) you shall be deemed vested in a pro rata portion of the Restricted Cash Amount that bears the same ratio to the total Restricted Cash Amount awarded you under this Agreement as the number of days in the period that begins on the Award Date and ends on the date of such termination bears to the number of days in the period that begins on the Award Date and ends on the third annual anniversary of the Award Date; and (ii) within the 60 consecutive day period that begins on the date of such termination, CBI shall distribute to you a cash payment equal to the pro rata portion of the Restricted Cash Amount in which you have become vested under this paragraph 4 (subject to all applicable tax withholding requirements).
Vesting Upon Disability. If, prior to you being deemed vested in any of the Units awarded you under this Agreement pursuant to paragraph 2, 3, 5, or 6 hereof, you become Disabled (as defined in subsection 2.9 of the Plan) while you are an Employee of CBI and are terminated as a result of such Disability, then (i) you shall be deemed vested in the number of Units (rounded up to the nearest whole Unit) that bears the same ratio to the total number of Units awarded you under this Agreement as the number of days in the period that begins on the Award Date and ends on the date of your termination bears to the number of days in the period that begins on the Award Date and ends on the third annual anniversary of the Award Date; and (ii) within the 60 consecutive day period that begins on the date of your termination, CBI shall distribute to you a number of Shares equal to the number of Units in which you have become vested under this paragraph 4 (subject to the tax withholding requirements included in the Plan).
Vesting Upon Disability. Upon the disability of a Participant, the ----------------------- Participant's Nonforfeitable percentage in his or her Profit Sharing Contributions Account and Matching Contributions Account: