Common use of Termination for Layoff or Plant Closing Clause in Contracts

Termination for Layoff or Plant Closing. If the Grantee’s service with the Company or any of its affiliates terminates as a result of a layoff or plant closing, each as defined in the Company’s U.S. Layoff Benefit Plan, then restrictions on RSUs scheduled to lapse on the first Restriction Lapse Date shall immediately lapse, and the remaining RSUs covered by this Grant shall be immediately cancelled.

Termination for Layoff or Plant Closing. If the Grantee’s service employment with the Company or any of its affiliates terminates as a result of a layoff or plant closing, each as defined in the Company’s U.S. Layoff Benefit Plan, then restrictions on RSUs scheduled to lapse on the first Restriction Lapse Date Date, or during protected service if applicable, shall immediately lapse, and the remaining RSUs covered by this Grant shall be immediately cancelled.

Termination for Layoff or Plant Closing. If the Grantee’s service employment with the Company or any of its affiliates terminates as a result of a layoff or plant closingclosing (without regard to any period of protected service), each as defined contemplated in the Company’s U.S. Layoff Benefit Plan, then restrictions on RSUs scheduled to lapse on at or before the first Restriction Lapse Date end of the second calendar year following the year in which employment terminates, shall immediately lapse, and the remaining RSUs covered by this Grant shall be immediately cancelled.

Termination for Layoff or Plant Closing. If the Grantee’s 's service with the Company or any of its affiliates terminates as a result of a layoff or plant closing, each as defined in the Company’s 's U.S. Layoff Benefit Plan, then restrictions on RSUs scheduled to lapse on the first Restriction Lapse Date shall immediately lapse, and the remaining RSUs covered by this Grant shall be immediately cancelled.