Common use of Death, Retirement, or Total and Permanent Disability Clause in Contracts

Death, Retirement, or Total and Permanent Disability. In the event that more than six months after the date of grant the Employee’s termination of employment is due to death or Total and Permanent Disability, it shall result in pro rata vesting in the number of Restricted Share Units earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee, prorated for the number of full months of employment during the Restricted Period prior to the Participant’s termination of employment, and shall be paid within 70 days following the end of the Restricted Period. In the event that more than six months after the date of grant the Employee’s termination of employment is due to Retirement it shall result in 100% vesting in the number of Restricted Share Units earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee, and such Award shall be paid within 70 days following the end of the Restricted Period.

Appears in 2 contracts

Samples: Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

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Death, Retirement, or Total and Permanent Disability. In the event that more than six months after the date of grant the Employee’s termination of employment is due to death or Total and Permanent Disability, it shall result in pro rata vesting in vesting, as determined by the Committee, and the number of Restricted Share Units earned based on attainment of the Performance Goal shares that are considered to vest shall be determined at the end of the Restricted Period as approved and authorized by the CommitteePeriod, prorated for the number of full months of employment during the Restricted Period prior to the Participant’s termination of employment, and shall be paid within 70 90 days following the end of the Restricted Period. In the event that more than six months after the date of grant the Employee’s termination of employment is due to Retirement it shall result in 100% vesting in the number of Restricted Share Units earned based on attainment of the Performance Goal at the end of the Restricted Period as approved and authorized by the Committee, and such Award shall be paid within 70 90 days following the end of the Restricted Period.

Appears in 2 contracts

Samples: ____ Award Agreement (Kimberly Clark Corp), Award Agreement (Kimberly Clark Corp)

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