Share Bonus definition
Examples of Share Bonus in a sentence
In the event any unvested Share Bonus is not assumed or substituted by the acquiring company (or its parent) in connection with a Change in Control, such unvested Share Bonus will vest effective as of the closing of such Change in Control.
In the event that the Participant’s employment with the Company and its Affiliates terminates due to death, Disability, or Involuntary Termination, or the Participant is terminated for Cause at any time before the Distribution Date, the entire amount of the Share Bonus, whether vested or unvested, shall be forfeited and the Participant shall not be entitled to any payment under Section 5 hereof or have any other rights with respect to the Share Bonus.
In the event that the Participant’s employment with the Company and its Affiliates terminates due to Retirement, Participant’s Share Bonus shall be distributed in accordance with the otherwise applicable provisions of this Agreement; provided however, that any undistributed Share Bonus shall be forfeited in its entirety should Participant engage in any business or activity, either on his/her own or as an employee, which is deemed to be in competition with the Company.
The Committee shall have discretion to reduce or increase the amount of the Share Bonus determined for the Participant for the Performance Period at any time prior to the payment of such bonus to the Participant.
Any Share Bonus which may vest and become payable shall be determined in accordance with Sections 3 and 4 hereof.