Common use of Qualifying Disability Clause in Contracts

Qualifying Disability. Except as set forth in the following paragraph, in the event that ▇▇▇▇▇▇▇’s employment with the Corporation is terminated by reason of Disability prior to the regularly scheduled award date for non-exceptional circumstances in early 2015 but Grantee has met the conditions for a Qualifying Disability set forth in Section 4.4 and the 2012 Performance Units have not been terminated by PNC prior to the award date pursuant to Section 4.4 for Detrimental Conduct and remain outstanding, PNC will present information to the Compensation Committee for purposes of this Section 5.1 for consideration of an award on the same basis as that set forth in Section 5.1(a) for a continuing employee of the Corporation, together with such information as the Compensation Committee may request concerning ▇▇▇▇▇▇▇’s departure. The scheduled award-determination period will occur in early 2015 as provided in Section 7.1. If Grantee dies after a Qualifying Disability but prior to the regularly scheduled award date and the 2012 Performance Units are still outstanding at the time of ▇▇▇▇▇▇▇’s death, Grantee will be eligible for Compensation Committee consideration of an award at the time and up to the maximum amount of the award Grantee could have received had he died while an employee of the Corporation.

Appears in 1 contract

Sources: Performance Based Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)

Qualifying Disability. Except as set forth in the following paragraph, in the event that ▇▇▇▇▇▇▇’s employment with the Corporation is terminated by reason of Disability prior to the regularly scheduled award date for non-exceptional circumstances in early 2015 but Grantee ▇▇▇▇▇▇▇ has met the conditions for a Qualifying Disability set forth in Section 4.4 and the 2012 Incentive Performance Units have not been terminated by PNC prior to the award date pursuant to Section 4.4 for Detrimental Conduct and remain outstanding, PNC will present information to the Compensation Committee for purposes of this Section 5.1 for consideration of an award on the same basis as that set forth in Section 5.1(a) for a continuing employee of the Corporation, together with such information as the Compensation Committee may request concerning ▇▇▇▇▇▇▇’s departure. The scheduled award-determination period will occur in early 2015 as provided in Section 7.1. If Grantee dies after a Qualifying Disability but prior to the regularly scheduled award date and the 2012 Incentive Performance Units are still outstanding at the time of ▇▇▇▇▇▇▇’s death, Grantee will be eligible for Compensation Committee consideration of an award at the time and up to the maximum amount of the award Grantee could have received had he or she died while an employee of the Corporation.

Appears in 1 contract

Sources: Performance Based Restricted Share Units Award Agreement (PNC Financial Services Group, Inc.)