Common use of Termination of Award Clause in Contracts

Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirement, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units under the Plan, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Pinnacle West Capital Corp), Restricted Stock Unit Agreement (Arizona Public Service Co), Award Agreement (Arizona Public Service Co)

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Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirement, in In the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units Shares under the Plan, if any, will terminate. Any unvested Restricted Stock Units Shares and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Arizona Public Service Co), Restricted Stock Agreement (Arizona Public Service Co)

Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirementabove or in Article 15 of the Plan, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiariessubsidiaries, whether due to voluntary or involuntary termination, retirement, death, disability Disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units or Dividend Equivalents under the PlanPlan or this Award Agreement, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiariessubsidiaries.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Arizona Public Service Co), Restricted Stock Unit Award Agreement (Arizona Public Service Co)

Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirement, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units under the Plan, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Arizona Public Service Co)

Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirementabove or in Article 15 of the Plan, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, retirement, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units or Dividend Equivalents under the PlanPlan or this Award Agreement, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Arizona Public Service Co)

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Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirement, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units or Dividend Equivalents under the PlanPlan or this Award Agreement, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Pinnacle West Capital Corp)

Termination of Award. Except as otherwise provided in Section 3 with respect to Employee’s Retirement, in the event of the termination of Employee’s active employment with the Company or any of its Subsidiaries, whether due to voluntary or involuntary termination, death, disability or otherwise, Employee’s right to receive and/or vest in any additional Restricted Stock Units or Dividend Equivalents under the PlanPlan or this Award Agreement, if any, will terminate. Any unvested Restricted Stock Units and the related Dividend Equivalents will be forfeited effective as of the date that Employee terminates active employment with the Company or any of its Subsidiaries.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Pinnacle West Capital Corp)

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