Common use of Change in Control Termination Event Clause in Contracts

Change in Control Termination Event. Upon the Participant’s termination of employment without Cause (as defined in the Participant’s employment agreement) or resignation for Good Reason (as defined in the Participant’s employment agreement) on or within two years after a Change in Control Event as defined in Section 7.3 of the Plan (and notwithstanding any provision of Sections 7.2 and 7.3 of the Plan or the Participant’s employment agreement to the contrary), the Award (to the extent outstanding at the time of such termination event) shall become fully vested as of the date of such termination event and shall be paid in accordance with Section 7 hereof.

Appears in 2 contracts

Sources: Employment Agreement (Quality Care Properties, Inc.), Employment Agreement (Quality Care Properties, Inc.)

Change in Control Termination Event. Upon the Participant’s termination of employment without Cause (as defined in the Participant’s employment agreement) or resignation for Good Reason (as defined in the Participant’s employment agreement) on or within two years after a Change in Control Event as defined in Section 7.3 of the Plan (and notwithstanding any provision of Sections 7.2 and 7.3 of the Plan or the Participant’s employment agreement to the contrary)Plan, the Award (to the extent outstanding at the time of such termination event) shall become fully vested as of the date of such termination event and shall be paid in accordance with Section 7 hereoftermination.

Appears in 1 contract

Sources: Performance Based Restricted Stock Award Agreement (Quality Care Properties, Inc.)