Final Award Calculation. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change of Control at any time prior to a Committee-determined Award Date pursuant to Section 5.2, (i) the overall Performance Period, if not already ended, will be limited and will end on the last day of the last full quarter completed prior to the day the Change of Control occurs or, if the Change of Control occurs on a quarter-end date, on the day the Change of Control occurs, but in no event later than December 31, 2014, and (ii) Grantee will be deemed to have been awarded a Final Award in an amount determined as set forth in this Section 6, payable to Grantee or Grantee’s legal representative at the time and in the manner set forth in Section 7, provided that the 2012 Performance Units are still outstanding as of the end of the day immediately preceding the day on which the Change of Control occurs and have not already terminated or been terminated in accordance with the service or conduct provisions of Section 4. If this Section 6 is applicable and a Final Award is deemed to be awarded pursuant to Section 6, the day the Change of Control occurs will be considered the Award Date for purposes of the Agreement. This date is sometimes referred to in the Agreement as the “Change-of-Control-determined Award Date” (as set forth in Section 14.6).
Appears in 1 contract
Sources: Performance Based Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)
Final Award Calculation. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change of in Control at any time prior to a Committee-determined Award Date pursuant to Section 5.2, (i) the overall Performance Period, if not already ended, will be limited and will end on the last day of the last full quarter completed prior to the day the Change of in Control occurs or, if the Change of in Control occurs on a quarter-end date, on the day the Change of in Control occurs, but in no event later than December 31, 20142009, and (ii) Grantee will be deemed to have been awarded a Final Award in an amount determined as set forth in this Section 6, payable to Grantee or Grantee▇▇▇▇▇▇▇’s legal representative at the time and in the manner set forth in Section 7, provided that the 2012 Performance Units are still Grant is outstanding as of the end of the day immediately preceding the day on which the Change of in Control occurs and have has not already terminated or been terminated in accordance with the service or conduct provisions terms of Section 4. If this Section 6 is applicable and a Final Award is deemed to be awarded pursuant to Section 6, the day the Change of in Control occurs will be considered the Award Date for purposes of the Agreement. This date is sometimes referred to in the Agreement as the “Change-ofin-Control-determined Award Date” (as set forth in Section 14.614.4).
Appears in 1 contract
Sources: Incentive Performance Units Agreement (PNC Financial Services Group Inc)
Final Award Calculation. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change of in Control at any time prior to a Committee-determined Award Date pursuant to Section 5.2, (i) the overall Performance Period, if not already ended, will be limited and will end on the last day of the last full quarter completed prior to the day the Change of in Control occurs or, if the Change of in Control occurs on a quarter-end date, on the day the Change of in Control occurs, but in no event later than December 31, 20142010, and (ii) Grantee will be deemed to have been awarded a Final Award in an amount determined as set forth in this Section 6, payable to Grantee or Grantee’s legal representative at the time and in the manner set forth in Section 7, provided that the 2012 Performance Units are still Grant is outstanding as of the end of the day immediately preceding the day on which the Change of in Control occurs and have has not already terminated or been terminated in accordance with the service or conduct provisions terms of Section 4. If this Section 6 is applicable and a Final Award is deemed to be awarded pursuant to Section 6, the day the Change of in Control occurs will be considered the Award Date for purposes of the Agreement. This date is sometimes referred to in the Agreement as the “Change-ofin-Control-determined Award Date” (as set forth in Section 14.614.4).
Appears in 1 contract
Sources: Incentive Performance Units Agreement (PNC Financial Services Group Inc)
Final Award Calculation. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change of in Control at any time prior to a Committee-determined Award Date pursuant to Section 5.2, (i) the overall Performance Period, if not already ended, will be limited and will end on the last day of the last full quarter completed prior to the day the Change of in Control occurs or, if the Change of in Control occurs on a quarter-end date, on the day the Change of in Control occurs, but in no event later than December 31, 20142008, and (ii) Grantee will be deemed to have been awarded a Final Award in an amount determined as set forth in this Section 6, payable to Grantee or Grantee▇▇▇▇▇▇▇’s legal representative at the time and in the manner set forth in Section 7, provided that the 2012 Performance Units are still Grant is outstanding as of the end of the day immediately preceding the day on which the Change of in Control occurs and have has not already terminated or been terminated in accordance with the service or conduct provisions terms of Section 4. If this Section 6 is applicable and a Final Award is deemed to be awarded pursuant to Section 6, the day the Change of in Control occurs will be considered the Award Date for purposes of the Agreement. This date is sometimes referred to in the Agreement as the “Change-ofin-Control-determined Award Date” (as set forth in Section 14.614.4).
Appears in 1 contract
Sources: Incentive Performance Units Agreement (PNC Financial Services Group Inc)
Final Award Calculation. Notwithstanding anything in the Agreement to the contrary, upon the occurrence of a Change of Control at any time prior to a Committee-determined Award Date pursuant to Section 5.2, (i) the overall Performance Period, if not already ended, will be limited and will end on the last day of the last full quarter completed prior to the day the Change of Control occurs or, if the Change of Control occurs on a quarter-end date, on the day the Change of Control occurs, but in no event later than December 31, 20142012, and (ii) Grantee will be deemed to have been awarded a Final Award in an amount determined as set forth in this Section 6, payable to Grantee or Grantee’s legal representative at the time and in the manner set forth in Section 7, provided that the 2012 Performance Units are still outstanding as of the end of the day immediately preceding the day on which the Change of Control occurs and have not already terminated or been terminated in accordance with the service or conduct provisions terms of Section 4. If this Section 6 is applicable and a Final Award is deemed to be awarded pursuant to Section 6, the day the Change of Control occurs will be considered the Award Date for purposes of the Agreement. This date is sometimes referred to in the Agreement as the “Change-of-Control-determined Award Date” (as set forth in Section 14.614.5).
Appears in 1 contract
Sources: Incentive Performance Units Agreement (PNC Financial Services Group Inc)