Example ContractsClausesdeath or total disability of optioneeIdentical
Death or Total Disability of Optionee
Death or Total Disability of Optionee contract clause examples

Death, Retirement, or Total and Permanent Disability. In the event that more than six months after the Grant Date the Participant’s termination of employment is due to death or Total and Permanent Disability, it shall result in pro rata vesting in the number of PRSUs earned. This pro rata vesting shall be determined based on the Target Level of PRSUs (including any accrued dividend equivalents accumulated pursuant to Section 2(a)) # prorated for the number of full months of employment during the Restricted Period prior to the Participant’s termination of employment, multiplied by # the Performance Goal percentage as approved and authorized by the Committee at the end of the Restricted Period. Any fractional share of the Corporation resulting from such a prorated award shall be rounded to the nearest whole share and shall be paid within 70 days following the end of the Restricted Period. In the event that more than six months after the Grant Date the Participant’s termination of employment is due to Retirement it shall result in 100% vesting in the number of PRSUs earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee, and such Award shall be paid within 70 days following the end of the Restricted Period.

KIMBERLY CLARK CORP (KMB) (CIK 0000055785)
Source: SEC EDGAR database • Date: April 22, 2019 • SIC: 2670 • CIK: 2670

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