Termination Fraction definition
Termination Fraction means, for each Scheduled Date, a fraction the numerator of which is the amount of the credit to be applied pursuant to the applicable provisions of the Agreement to reduce the amount of the payment otherwise due on such date and the denominator of which is the amount of the payment otherwise due on such date (without regard to such credit); and
Examples of Termination Fraction in a sentence
If the Participant incurs a Termination due to death or Disability, a number of RSUs shall vest, as of such Termination Date, equal to the number of unvested RSUs as of such Termination Date multiplied by the applicable DD Termination Fraction.
If the Participant incurs a Termination by the Company or any of its Subsidiaries without Cause (other than due to death or Disability), a number of RSUs shall vest, as of such Termination Date, equal to the number of unvested RSUs as of such Termination Date multiplied by the applicable WC Termination Fraction.