Good Standing definition
Examples of Good Standing in a sentence
If the Grantee’s Retirement occurs, the PSUs that become Awarded PSUs and that have not yet become vested and nonforfeitable in accordance with the terms and conditions of this Agreement will become payable on the remaining Scheduled Vesting Date(s) specified in Section 3 of this Agreement, provided that the Grantee is in Good Standing with the Company as of the date of such payment.
For purposes of Awarded PSUs subject to this Section 5(b), each Scheduled Vesting Date specified in the preceding sentence is referred to in this Agreement as the “Retirement Payout Date.” If at any time after the Grantee’s Retirement the Grantee is not in Good Standing with the Company, one hundred percent (100%) of the outstanding Awarded PSUs will be forfeited immediately.