Common use of Vesting Upon Disability or Death Clause in Contracts

Vesting Upon Disability or Death. Notwithstanding the provisions of Sections 1, 2 and 3(b), in the event of the Grantee’s death or Disability prior to January 5, 2022, then all of Grantee’s forfeitable TBRSUs shall immediately become non-forfeitable and shares underlying such TBRSUs shall be distributed within ten (10) business days of the applicable occurrence, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Appears in 1 contract

Samples: Time Based Restricted Stock Unit Agreement (Flowers Foods Inc)

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Vesting Upon Disability or Death. Notwithstanding the provisions of Sections 1, 2 and 3(b), in the event of the Grantee’s death or Disability prior to January 5, 20222023, then all of Grantee’s forfeitable TBRSUs shall immediately become non-forfeitable and shares underlying such TBRSUs shall be distributed within ten (10) business days of the applicable occurrence, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Appears in 1 contract

Samples: Time Based Restricted Stock Unit Agreement (Flowers Foods Inc)

Vesting Upon Disability or Death. Notwithstanding the provisions of Sections 1, 2 and 3(b), in the event of the Grantee’s death or Disability prior to January 5, 20222024, then all of Grantee’s forfeitable TBRSUs shall immediately become non-forfeitable and shares underlying such TBRSUs shall be distributed within ten (10) business days of the applicable occurrence, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Appears in 1 contract

Samples: Time Based Restricted Stock Unit Agreement (Flowers Foods Inc)

Vesting Upon Disability or Death. Notwithstanding the provisions of Sections 1, 2 and 3(b), in the event of the Grantee’s death or Disability prior to January 5, 20222025, then all of Grantee’s forfeitable TBRSUs shall immediately become non-forfeitable and shares underlying such TBRSUs shall be distributed within ten (10) business days of the applicable occurrence, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Appears in 1 contract

Samples: Time Based Restricted Stock Unit Agreement (Flowers Foods Inc)

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Vesting Upon Disability or Death. Notwithstanding the provisions of Sections 1, 2 and 3(b), in the event of the Grantee’s death or Disability prior to January 5, 20222026, then all of Grantee’s forfeitable TBRSUs shall immediately become non-forfeitable and shares underlying such TBRSUs shall be distributed within ten (10) business days of the applicable occurrence, but notwithstanding anything to the contrary, in all events within the “short-term deferral” period determined under Treasury Regulation Section 1.409A-1(b)(4).

Appears in 1 contract

Samples: Time Based Restricted Stock Unit Agreement (Flowers Foods Inc)

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