Cessation of Employment Sample Clauses

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. 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. 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. If the Participant’s Employment ceases, except as expressly provided for in an employment or other agreement between the Participant and the Company that is in effect at the time of such termination, the Share Option, to the extent not then vested, will be immediately forfeited for no consideration, and any vested portion of the Share Option that is then outstanding will be treated as follows: (a) Subject to (b) and (c) below, each vested and unexercised Share Option (or portion thereof) held by the Participant or the Participant’s permitted transferees, if any, immediately prior to such termination of employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of ninety (90) days following such termination of employment or (ii) the period ending on the latest date on which such Share Option could have been exercised without regard to this Section 4(a), and will thereupon immediately terminate. (b) Subject to (c) below, each vested and unexercised Share Option (or portion thereof) held by the Participant or the Participant’s permitted transferees, if any, immediately prior to such termination of employment as a result of the Participant’s death or disability, to the extent then exercisable, will remain exercisable for the lesser (i) the one-year period ending on the first anniversary of the date of such termination of employment or (ii) the period ending on the latest date on which such Share Option could have been exercised without regard to this Section 4(b), and will thereupon immediately terminate. (c) All Share Options (whether or not vested or exercisable) held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the termination of the Participant’s employment will immediately terminate upon such termination if the termination is for Cause, as defined in the Plan, 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 (in each case, without regard to the lapsing of any required notice or cure periods in connection therewith).

Cessation of Employment. Unless the Administrator determines otherwise, the following will apply if the Employee’s Employment ceases: (a) Options that have not vested will terminate immediately. (b) Units that were issued upon an exercise of the Option (including Units issued upon exercise of Options contemplated by clause (c) below) will be subject to the call options described in Sections 5 of the Stockholders Agreement. (c) Subject to the terms of Section 6(a)(3) of the Plan, the vested Options will remain exercisable for the shorter of (i) a period of 60 days or (ii) the period ending on the Final Exercise Date, and will thereupon terminate.

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. As used in this Agreement, the term “Corporation” shall mean Nortel Networks Inc., its parent, subsidiaries, affiliates (including, but not limited to, Nortel Networks Corporation and Nortel Networks Limited), predecessors, successors and assigns and all past and present officers, directors, employees and agents (in their individual and representative capacities only) of Nortel Networks Inc., its parent, subsidiaries, affiliates, predecessors, successors and assigns, in every case individually and collectively.

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.