Common use of Accelerated Vesting Upon Certain Terminations of Employment Clause in Contracts

Accelerated Vesting Upon Certain Terminations of Employment. To the extent that the Restricted Stock shall not have previously become vested pursuant to Section 2(b) above or been forfeited pursuant to Section 2(e) below, the Restricted Stock shall become fully vested upon the termination of the Grantee's employment with the Company prior to January 1, 2009 (the "Normal Vesting Date"): (i) due to the Grantee's death or Disability; (ii) by the Company other than for Cause; (iii) in a Constructive Termination Without Cause; or (iv) for any reason (including, without limitation, a voluntary termination by the Grantee) following or as a result of a Change of Control that is not a Change of Control described in Section 2(d). Any termination of the Grantee's employment with the Company (for any reason) occurring on or after the Normal Vesting Date shall have no impact on the vesting or forfeiture of the Restricted Stock.

Appears in 1 contract

Sources: Restricted Stock Award Agreement (Mbia Inc)

Accelerated Vesting Upon Certain Terminations of Employment. To the extent that the Restricted Stock shall not have previously become vested pursuant to Section 2(b) above or been forfeited pursuant to Section 2(e) below, the Restricted Stock shall become fully vested upon the termination of the Grantee's employment with the Company prior to January 1, 2009 (the "Normal Vesting Termination Date"): : (i) due to the Grantee's death or Disability; (ii) by the Company other than for Cause; (iii) in a Constructive Termination Without Cause; or (iv) for any reason (including, without limitation, a voluntary termination by the Grantee) following or as a result of a Change of Control that is not a Change of Control described in Section 2(d). Any termination of the Grantee's employment with the Company (for any reason) occurring on or after the Normal Vesting Termination Date shall have no impact on the vesting or forfeiture of the Restricted Stock.

Appears in 1 contract

Sources: Restricted Stock Award Agreement (Mbia Inc)