Termination After Change in Control definition
Examples of Termination After Change in Control in a sentence
If the Grantee’s employment with the Company terminates by reason of Termination After Change in Control after the General Awarded Date, but before the Grantee's interest in the Awarded PSUs becomes fully vested and nonforfeitable in accordance with Section 4 of this Agreement or is forfeited, the Awarded PSUs will become fully vested and nonforfeitable as of the date of such Termination After Change in Control.
Except as otherwise provided in Section 5 of this Agreement in the event of a Termination After Change in Control or the Grantee's death or Disability, if the Grantee's employment with the Company terminates for any reason before the General Awarded Date for a Tranche, the Grantee's interest in one hundred percent (100%) of the PSUs in the Tranche will be forfeited immediately upon the Grantee's termination of employment with the Company.
However, if the Grantee’s employment with the Company terminates by reason of Termination After Change in Control (as defined below) prior to the fifth (5th) anniversary of the Date of Grant, the PSUs that become Awarded PSUs in accordance with Section 5(b)(1)(A) above will become fully vested and nonforfeitable as of the date of such Termination After Change in Control.
The purpose of this Section 4 is to provide special rules that may apply to the RSUs in the event of a Termination After Change in Control or Termination of the Grantee’s employment with the Company as a result of the Grantee’s death or Disability.
If the Grantee’s employment with the Company terminates by reason of Termination After Change in Control (as defined below) prior to the fifth (5th) anniversary of the Date of Grant, the unvested RSUs will become fully vested and nonforfeitable as of the date of such Termination After Change in Control.