Common use of By Disability Clause in Contracts

By Disability. In the event the Participant ceases to be an Employee of the Company by reason of Disability (as defined in this Section 5(b)) prior to the date set forth under “End of Performance Period” above, the Target Performance Shares shall immediately become 100% vested and deemed earned, and the Company shall issue or deliver the Common Shares underlying the Target Performance Shares to the Participant in accordance with Section 3 of this Agreement. In the event the Participant ceases to be an Employee of the Company by reason of Disability on or after the date set forth under “End of Performance Period” above but on or before the Performance Vesting Date, any Earned Performance Shares shall become 100% vested and earned upon the Performance Vesting Date and the Company shall issue or deliver the Common Shares underlying the Earned Performance Shares to the Participant in accordance with Section 3 of this Agreement.

Appears in 5 contracts

Sources: Performance Shares Award Agreement (Kaiser Aluminum Corp), Performance Shares Award Agreement (Kaiser Aluminum Corp), Performance Shares Award Agreement (Kaiser Aluminum Corp)

By Disability. In the event the Participant ceases to be an Employee of the Company by reason of Disability becomes Disabled (as defined in this Section 5(b)) prior to the date set forth under “End of Performance Period” aboveabove and Section 6 of this Agreement is not then applicable, then the Target Performance Shares shall shall, upon the date of the Participant’s Disability, immediately become 100% vested and deemed earned, and the Company shall issue or deliver the Common Shares underlying the Target Performance Shares to the Participant in accordance with Section 3 of this Agreement. In the event the Participant ceases to be an Employee of the Company by reason of Disability becomes Disabled on or after the date set forth under “End of Performance Period” above but on or before the Performance Vesting Date, any Earned Performance Shares shall become 100% vested and earned upon the Performance Vesting Date and the Company shall issue or deliver the Common Shares underlying the Earned Performance Shares to the Participant in accordance with Section 3 of this Agreement.

Appears in 5 contracts

Sources: Performance Shares Award Agreement (Kaiser Aluminum Corp), Performance Shares Award Agreement (Kaiser Aluminum Corp), Performance Shares Award Agreement (Kaiser Aluminum Corp)