Common use of Vesting upon Termination due to Disability or Death Clause in Contracts

Vesting upon Termination due to Disability or Death. If, while the Restricted Stock Units are subject to a Period of Restriction, the Employee terminates employment with the Company (or a Subsidiary of the Company if the Employee is then in the employ of such Subsidiary) by reason of Disability (as defined in the Company’s long-term disability policy) or death, then any portion of the Restricted Stock Units subject to a Period of Restriction shall become fully vested as of the date of employment termination without regard to the Period of Restriction set forth in Section 4 of this Agreement.

Appears in 1 contract

Samples: Phi Inc

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Vesting upon Termination due to Disability or Death. If, while the Restricted Stock Units are subject to a Period of Restriction, the Employee terminates employment with the Company (or a Subsidiary of the Company if the Employee is then in the employ of such Subsidiary) by reason of Disability (as defined in the Company’s long-term disability policy) or death, then any portion of the Restricted Stock Units subject to a Period of Restriction shall become fully vested as of the date of termination of employment termination without regard to the Period of Restriction set forth in Section 4 of this Agreement.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Phi Inc)

Vesting upon Termination due to Disability or Death. If, while the Restricted Stock Units are subject to a Period of Restriction, the Employee terminates employment or Board membership with the Company (or a Subsidiary of the Company if the Employee is then in the employ of such Subsidiary) by reason of Disability (as defined in the Company’s long-term disability policyPlan) or death, then any portion of the Restricted Stock Units subject to a Period of Restriction shall become fully vested as of the date of employment termination due to Disability or death, without regard to the Period of Restriction set forth in Section 4 of this Agreement.

Appears in 1 contract

Samples: Award Agreement (Walgreen Co)

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Vesting upon Termination due to Disability or Death. If, while the Restricted Stock Units are is subject to a Period of Restriction, the Employee Recipient terminates employment with the Company (or a Subsidiary of the Company if the Employee Recipient is then in the employ of such Subsidiary) by reason of Disability disability (as defined in determined by the Company’s long-term disability policy) or death, then any the portion of the Restricted Stock Units subject to a Period of Restriction shall become fully vested as of the date of employment termination without regard to the Period of Restriction set forth in Section 4 of this Agreement.

Appears in 1 contract

Samples: Stock Compensation Plan (SPX Corp)

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