United Airlines 2009 Annual Report Download - page 161

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Scheduled Vesting Date
Applicable
Performance
Period
Portion of
the Award
That Vests
Number of
RSUs That
Vest
«Vesting_Date_1»
«Vesting_Date_2»
«Vesting_Date_3»
(ii) In the event of your Termination of Employment by reason of death or Disability, you shall immediately become entitled to settlement of all
outstanding RSUs.
(iii) In the event of a Change of Control prior to your Termination of Employment, notwithstanding any provision of Section 8(a) of the Plan to the
contrary, you shall immediately become entitled to settlement of all outstanding RSUs.
(b) Delivery of Shares or Cash Pursuant to Settlement of RSUs. The Committee shall, in its sole discretion, determine whether the RSUs that are
scheduled to be settled on each Vesting Date will be settled in Shares or in cash. If the RSUs are settled in Shares, the Company shall deliver to you, on such
Vesting Date, one Share for each RSU that is scheduled to be settled on such date in accordance with the terms of this Award Notice. If the RSUs are settled in
cash, you shall receive a lump sum cash payment on such Vesting Date, in accordance with the terms of this Award Notice, equal to the closing price of the
Company’s Common Stock on the Nasdaq Global Select Market on the trading date immediately preceding the applicable Vesting Date, multiplied by the
number of RSUs that correspond to such date. Upon settlement, a number of RSUs equal to the number of shares of Common Stock represented thereby shall be
extinguished and such number of RSUs will no longer be considered to be held by you for any purpose.
SECTION 4. Forfeiture of RSUs. Unless the Committee determines otherwise, and except as otherwise provided in Section 3 of this Award Notice,
Section 8 of the Plan regarding Change of Control or Section 9(a) of the Plan regarding Termination of Employment as a result of death or Disability, if the
Vesting Date with respect to any RSUs awarded to you pursuant to this Award Notice has not occurred prior to the date of your Termination of Employment,
your rights with respect to such RSUs shall immediately terminate upon your Termination of Employment, and you will be entitled to no further payments or
benefits with respect thereto. For the avoidance of doubt, except as otherwise determined by the Committee in its sole discretion, if the Company fails to achieve
the applicable Performance Goals for the applicable Performance Period, you shall forfeit the RSUs that were scheduled to vest on the applicable Vesting Date.