Any executive officer who does not have an agreement providing for severance on a qualifying termination will be eligible for the following benefits upon a qualifying termination:
Qualifying Termination Prior to September 1, 2025. On the date of Your termination of employment as a result of a Qualifying Termination prior to September 1, 2025, a pro-rated portion of the RSUs (based on the number of months You are actually employed during the period between September 1, 2023 and September 1, 2025) will vest immediately upon such Qualifying Termination.
“Qualifying Termination” means the termination of Executive’s employment by the Company and its Subsidiaries without Cause, or by Executive for Good Reason. It is intended that any Qualifying Termination shall be a Separation from Service.
It is possible for you to lose eligibility to participate in the Plan by being terminated in a nonqualifying termination after you have received notice that you will be subject to a Qualifying Termination but before the date of that Qualifying Termination. For example, you might be discharged for cause or quit voluntarily before the date that you separate from service pursuant to a Qualifying Termination (hereafter, your “Termination Date”).
“Qualifying Termination