Common use of Term of Award Clause in Contracts

Term of Award. Your award shall not be affected by any temporary leave of absence approved in writing by Invacare and described in Section 1.421-7(h) of the Federal Income Tax Regulations. If, prior to the Vesting Date, you cease to be an employee for any reason other than death, you will forfeit any and all rights you have to the shares. If you die prior to the Vesting Date and while you are an employee, your estate or personal representative shall become vested in a prorated number of the shares based on the number of completed months between the date hereof and the date of your death. If, prior to the Vesting Date, the Invacare Compensation and Management Development Committee (the “Committee”) finds that you intentionally committed an act materially inimical to the interests of Invacare or a subsidiary, you shall forfeit all of the shares as of the time you committed such act, as determined by the Committee.

Appears in 3 contracts

Samples: Award Agreement Employees (Invacare Corp), Award Agreement Employees (Invacare Corp), Award Agreement Employees (Invacare Corp)

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Term of Award. Your award shall not be affected by any temporary leave of absence approved in writing by Invacare and described in Section 1.421-7(h) of the Federal Income Tax Regulations. If, prior to the Vesting Date, you cease to be an employee a Director for any reason other than death, you will forfeit any and all rights you have to the shares. If you die prior to the Vesting Date and while you are an employeea Director, your estate or personal representative shall become vested in a prorated number of the shares based on the number of completed months between the date hereof and the date of your death. If, prior to the Vesting Date, the Invacare Compensation and Management Development Committee (the “Committee”) finds that you intentionally committed an act materially inimical to the interests of Invacare or a subsidiary, you shall forfeit all of the shares as of the time you committed such act, as determined by the Committee.

Appears in 1 contract

Samples: Award Agreement (Invacare Corp)

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