Common use of Qualifying Disability Clause in Contracts

Qualifying Disability. To the extent that the vesting under Section 3(c)(vi) relates to any 409A Subject Tranche, (A) such vesting shall occur only if Participant incurs a “disability” within the meaning of Treas. Reg. Section 1.409A-3(i)(4), or (B) if clause (A) is not applicable, such vesting of the Certified RIUs described in Section 3(c)(vi) shall be dependent on Participant incurring a Separation from Service in connection with his or her Qualifying Disability. In such event, the Separation from Service shall be deemed as a Normal Retirement that is not subject to the Retirement Conditions solely for purposes of establishing the timing for when such vesting is deemed to occur for purposes of this Agreement.

Appears in 5 contracts

Samples: Performance Unit Agreement (EnLink Midstream, LLC), Performance Unit Agreement (EnLink Midstream, LLC), Performance Unit Agreement (EnLink Midstream, LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.