Effect of Death or Disability. If Recipient’s service as a director of the Company terminates because of death or physical disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)), all of the RSUs shall immediately vest.
Death or Disability. If Recipient’an Eligible Director’s term of service as a director of the Company terminates becauseis terminated by reason of death or physicalpermanent and total disability (within the meaningor, if following termination or Retirement as a director, a former director dies while continuing to have rights under any RSU Awards, upon such death or termination by reason of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)), all of thepermanent and total disability, any such RSUs shall immediately vest.vest and be settled in Shares.
Forfeiture; Possible Restoration. If Recipient’s service asRecipient ceases to be a director of the Company terminatesfor any reason or for no reason, with or without cause, other than because of death or physical disability (within the meaning of Section 22(e)(3) of the Internal Revenue CodeCode), any RSUs that did not vest pursuant to this [Section 2] at or prior to the time of 1986 (the “Code”)), allsuch termination of board service shall be forfeited to the RSUs shall immediately vest.Company.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.