Cessation of Employment. In the event Executive shall cease to be employed by the Company for any reason, then Executive's compensation and benefits shall cease on the date of such event, except as otherwise provided herein or in any applicable employee benefit plan or program.
Cessation of Employment. Except as provided in Paragraphs 2 and 5 hereof, if Optionee shall cease to be an employee of the Bancorp or a subsidiary corporation for any reason other than Optionee’s death or disability [as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended from time to time (the “Code”)], this option shall expire three (3) months thereafter. During the three (3) month period this option shall be exercisable only as to those installments, if any, which had accrued as of the date when Optionee ceased to be an employee of the Bancorp or a subsidiary corporation.
Cessation of Employment. If the Participant’s Employment ceases, except as expressly provided for in an employment agreement between the Participant and the Company that is in effect at the time of such termination, the Stock Option, to the extent not then vested, will be immediately forfeited for no consideration, and any vested portion of the Stock Option that is then outstanding will remain exercisable for the period described in Section 6(a)(4) of the Plan.
Cessation of Employment. Unless the Administrator determines otherwise, the following will apply if the Employee’s Employment ceases:
Cessation of Employment. If Employee shall cease to be employed by the Company for any reason, then Employee's compensation and benefits shall cease as of the Termination Date, except as otherwise provided herein or in any applicable employee benefit plan or program.
Cessation of Employment. Except as provided in Paragraphs 2 and 5 hereof, if Optionee shall cease to be an employee of the Bank or a subsidiary corporation for any reason other than Optionee's death or disability [as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended from time to time (the "Code")], this option shall expire three (3) months thereafter. During the three (3) month period this option shall be exercisable only as to those installments, if any, which had accrued as of the date when Optionee ceased to be an employee of the Bank or a subsidiary corporation.
Cessation of Employment. Notwithstanding anything to the contrary contained herein, in the event that Optionee ceases to be employed by the Corporation for any reason other than Optionee's death, Disability or termination by the Company without cause (as defined within the Employment Agreement) (the date of Optionee's cessation of employment shall be referred to as the "Cessation Date"), then all non-vested Options shall expire and be forfeited on the Cessation Date. In the event that the Company terminates Optionee's employment without cause, then all non-vested Options shall immediately vest as of the Cessation Date.
Cessation of Employment. Deck Officers leaving WSF for any reason shall be paid accrued uniform allowance at the rate of thirty dollars and seventy-seven cents ($30.77) per two (2) week work period, retroactively. There shall be no deductions for vacation leave, compensatory time used, sick leave, or leave taken to upgrade a license.
Cessation of Employment. Unless as set forth in Sections 3(a)(ii) and 3(a)(iii) above or as otherwise determined by the Administrator in connection with the final sentence of this Section 3(b), automatically and immediately upon the cessation of the Participant’s Employment (i) the unvested portion of this Award, including corresponding Dividend Equivalents, will terminate and be forfeited for no consideration, and (ii) the vested portion of this Award, if any (including corresponding Dividend Equivalents), will terminate and be forfeited for no consideration if the Participant’s Employment is terminated for Cause or occurs in circumstances that in the determination of the Administrator would have constituted grounds for the Participant’s Employment to be terminated for Cause. For the avoidance of doubt, the Administrator shall have discretion to determine vesting treatment of any then-unvested Restricted Stock Units in the event the Participant’s Employment terminates due to retirement.
Cessation of Employment. (a) Except as otherwise provided in this Paragraph 3, should Participant cease employment or service for any reason prior to vesting in one or more Shares subject to this Award, then the Award shall be immediately canceled with respect to those unvested Shares, and the number of restricted share units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those canceled units.
