Effect of Absence Contract Clauses (3)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Effect of Absence clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Effect of Absence. (a) Period of Absence. Unless otherwise determined by the Committee, if the applicable Vesting Date occurs during Participant's Period of Absence, then the relevant RSUs shall vest on such Vesting Date as if Participant were an active employee on such date; provided that, all unvested RSUs will be forfeited upon the date that is two and one-half months following the end of the year in which the Participant is deemed to have a Separation from Service for purposes of Section 409A if the Participan...t has not returned to active employment with the Corporation or an Affiliate by such date. (b) Unpaid Leave of Absence. Unless otherwise determined by the Committee, if the applicable Vesting Date occurs during Participant's Unpaid Leave of Absence, then the relevant RSUs shall not vest on such Vesting Date. If, immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, Participant returns to active employment with the Corporation or an Affiliate, then the relevant RSUs shall vest upon the date of Participant's return to active employment. If Participant does not return to active employment immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, then the relevant RSUs shall be forfeited upon the last day of such Unpaid Leave of Absence. Notwithstanding the foregoing, if the Participant has not returned to active employment with the Corporation or an Affiliate by the last day of the calendar year in which the first Vesting Date during the Unpaid Leave of Absence occurs, then all unvested RSUs shall be forfeited on such last day of such calendar year. View More
Found in ENCANA CORP contract
Effect of Absence. (a) Period of Absence. Unless otherwise determined by the Committee, if If the applicable Vesting Date occurs during Participant's Period of Absence, then the relevant RSUs Options shall vest on such Vesting Date as if Participant were an active employee on such date; provided that, all unvested RSUs Options will be forfeited upon the date that is two and one-half months following the end of the year in which the Participant is deemed to have a Separation from Service for purposes of Section 409...A if the Participant has not returned to active employment with the Corporation or an Affiliate by such date. (b) Unpaid Leave of Absence. Unless otherwise determined by the Committee, if If the applicable Vesting Date occurs during Participant's Unpaid Leave of Absence, then the relevant RSUs Options shall not vest on such Vesting Date. If, immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, Participant returns to active employment with the Corporation or an Affiliate, then the relevant RSUs Options shall vest upon the date of Participant's return to active employment. If Participant does not return to active employment immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, then the relevant RSUs Options shall be forfeited upon the last day of such Unpaid Leave of Absence. Notwithstanding the foregoing, if the Participant has not returned to active employment with the Corporation or an Affiliate by the last day of the calendar year in which the first Vesting Date during the Unpaid Leave of Absence occurs, then all unvested RSUs Options shall be forfeited on such last day of such calendar year. View More
Found in ENCANA CORP contract
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