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

Death, Total Disability or Retirement. If you cease active employment with the Xxxx Xxx Companies, because of your death or permanent and total disability (as defined under the appropriate disability benefit plan, if applicable), the Award will continue to vest and be distributed to your estate at the same time as it is to other Participants. In the case of your attaining age 55 or older and, if you have at least 10 years of service with the Xxxx Xxx Companies when your employment terminates or attain age 65, regardless of service, the Award will continue to vest after your termination. These provisions apply only to Awards under this Grant Notice and Agreement; other types of awards may have different provisions.

Appears in 2 contracts

Samples: Notice and Agreement (Sara Lee Corp), Notice and Agreement (Sara Lee Corp)

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Death, Total Disability or Retirement. If you cease active employment with the Xxxx Xxx Companies, because of your death or permanent and total disability (as defined under the appropriate disability benefit plan, plan if applicable), the Award will continue to vest immediately and be distributed to you or your estate at the same time as it is to other Participantssoon as practical. In the case of your attaining age 55 or older and, if you have at least 10 years of service with the Xxxx Xxx Companies when your employment terminates or attain age 65, 65 regardless of service, the Award will continue to vest after your termination. These provisions apply only to Awards under this Grant Notice and Agreement; other types of awards may have different provisions.

Appears in 2 contracts

Samples: Notice and Agreement (Sara Lee Corp), Notice and Agreement (Sara Lee Corp)

Death, Total Disability or Retirement. If you cease active employment with the Xxxx Xxx Companies, because of your death or permanent and total disability (as defined under the appropriate disability benefit plan, plan if applicable), the Award award will continue to vest immediately and be distributed to you or your estate at the same time as it is to other Participantssoon as practical. In the case of your attaining age 55 or older and, if you have at least 10 years of service with the Xxxx Xxx Companies when your employment terminates or attain age 65, 65 regardless of service, the Award award will continue to vest after your termination. These provisions apply only to Awards under this Grant Notice and Agreementthe award granted herein; other types of RSU awards may have different provisions.

Appears in 1 contract

Samples: Restricted Stock (Lee Sara Corp)

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Death, Total Disability or Retirement. If you cease active employment (i.e., cease to be coded as active on the payroll system) with the Xxxx Xxx Companies, because of your death or permanent and total disability because you become Totally Disabled (as defined under the appropriate long term disability benefit plan, plan if applicable), the Award will continue to vest immediately and be distributed to you or your estate at the same time as it is to other Participantssoon as practical. In the case of your attaining age 55 or older and, if you have at least 10 years of service with the Xxxx Xxx Companies when your employment terminates or attain age 65, 65 regardless of service, the Award will continue to vest after your termination. These provisions apply only to Awards under this Grant Notice and Agreement; other types of awards may have different provisions.

Appears in 1 contract

Samples: Notice and Agreement (Sara Lee Corp)

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