Common use of Termination of Employment Following a Change of Control Clause in Contracts

Termination of Employment Following a Change of Control. Any unvested portion of the Restricted Stock Units that have been substituted or replaced with an equivalent award by the successor will vest immediately upon the termination of your employment by Arrow without Cause, or by you for Good Reason, in either such case occurring within two (2) years after a Change of Control of Arrow (an “Involuntary Termination”). If your employment ends for any reason (other than as described in Section 3 through 5 above) before your Restricted Stock Units fully vest, the unvested portion of the Restricted Stock Units will be forfeited and there will be no payment or delivery of Shares to you related to such forfeited Restricted Stock Units. The terms “Cause,” “Change of Control,” “Competing Business,” “Disability,” “Good Reason,” and “Retirement,” as used in this Agreement are defined in Section 16below.

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Arrow Electronics Inc), Restricted Stock Unit Award Agreement (Arrow Electronics Inc)

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Termination of Employment Following a Change of Control. Any unvested portion of the Restricted Stock Units that have been substituted or replaced with an equivalent award by the successor will vest immediately upon the termination of your employment by Arrow without Cause, or by you for Good Reason, in either such case occurring within two (2) years after a Change of Control of Arrow (an “Involuntary Termination”). If your employment ends for any reason (other than as described in Section 3 through 5 above) before your Restricted Stock Units fully vest, the unvested portion of the Restricted Stock Units will be forfeited and there will be no payment or delivery of Shares to you related to such forfeited Restricted Stock Units. The terms “Cause,” “Change of Control,” “Competing Business,” “Disability,” “Good Reason,” and “Retirement,” as used in this Agreement are defined in Section 16below17 below.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Arrow Electronics Inc)

Termination of Employment Following a Change of Control. Any unvested portion of the Restricted Stock Units that have been substituted or replaced with an equivalent award by the successor will vest immediately upon the termination of your employment by Arrow without Cause, or by you for Good Reason, in either such case occurring within two (2) years after a Change of Control of Arrow (an “Involuntary Termination”). If your employment ends for any reason (other than as described in Section 3 2 through 5 4 above) before your Restricted Stock Units fully vest, the unvested portion of the Restricted Stock Units will be forfeited and there will be no payment or delivery of Shares to you related to such forfeited Restricted Stock Units. The terms “Cause,” “Change of Control,” “Competing Business,” “Disability,” “Good Reason,” and “Retirement,” as used in this Agreement are defined in Section 16below15 below.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Arrow Electronics Inc)

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Termination of Employment Following a Change of Control. Any unvested portion of the Restricted Stock Units that have been substituted or replaced with an equivalent award by the successor will vest immediately upon the termination of your employment by Arrow without Cause, or by you for Good Reason, in either such case occurring within two (2) years after a Change of Control of Arrow (an “Involuntary Termination”)Arrow. If your employment ends for any reason (other than as described in Section 3 2 through 5 above) before your Restricted Stock Units fully vest, the unvested portion of the Restricted Stock Units will be forfeited and there will be no payment or delivery of Shares shares to you related to such forfeited Restricted Stock Units. The terms “Cause,” “Change of Control,” “Competing Business,” “Disability,” “Good Reason,” and “Retirement,” as used in this Agreement are defined in Section 16below14 below.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Arrow Electronics Inc)

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