Acceleration on Death or Disability. If the Recipient ceases to be an employee of the Company or a parent or subsidiary of the Company by reason of the Recipient’s death or disability, all outstanding but unvested RSUs shall become immediately vested. The term “disability” means a medically determinable physical or mental condition of the Recipient resulting from bodily injury, disease, or mental disorder which is likely to continue for the remainder of the Recipient’s life and which renders the Recipient incapable of performing the job assigned to the Recipient by the Company or any substantially equivalent replacement job.
Appears in 2 contracts
Sources: Restricted Stock Unit Award Agreement (Schnitzer Steel Industries Inc), Restricted Stock Unit Award Agreement (Schnitzer Steel Industries Inc)