Common use of Accelerated Vesting Under Certain Circumstances Clause in Contracts

Accelerated Vesting Under Certain Circumstances. Notwithstanding the foregoing, the Award shall vest as to 100% of the Shares subject to the Award (but only to the extent the Award has not otherwise previously been forfeited), and the Shares shall become nonforfeitable, in the event of (i) a Change in Control or (ii) the termination of the Grantee’s service as an employee (A) without Cause, (B) due to death or Disability, (C) upon Retirement, and (D) by the Grantee for Good Reason.

Appears in 5 contracts

Samples: Restricted Stock Agreement for Employee (PBF Holding Co LLC), Restricted Stock Agreement for Employee (PBF Holding Co LLC), Equity Incentive Plan (PBF Holding Co LLC)

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Accelerated Vesting Under Certain Circumstances. Notwithstanding the foregoing, the Award shall vest as to 100% of the Shares subject to the Award (but only to the extent the Award has not otherwise previously been forfeited), and the Shares shall become nonforfeitable, in the event of (i) a Change in Control or (ii) the termination of the Grantee’s service as an employee (A) without Cause, (B) due to death or Disability, (C) upon Retirementretirement, and (D) by the Grantee for Good Reason.

Appears in 1 contract

Samples: 2012 Equity Incentive Plan (PBF Energy Inc.)

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