Common use of Cessation of Service Clause in Contracts

Cessation of Service. Should Participant cease Service for any reason prior to vesting in the Shares subject to this Award, then the Restricted Stock Units awarded hereunder shall be immediately cancelled, and Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 5 contracts

Samples: Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co), Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co), Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co)

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Cessation of Service. Should Except as otherwise provided in Paragraph 5 below, should the Participant cease Service for any reason prior to vesting in all or a portion of the Shares Restricted Stock Units subject to this Award, then the Award will be immediately cancelled with respect to those unvested Restricted Stock Units awarded hereunder shall be immediately cancelled, and Units. The Participant shall thereupon cease to have any right or entitlement to receive any Shares shares of Common Stock under those cancelled unitsRestricted Stock Units.

Appears in 2 contracts

Samples: Restricted Stock Unit Issuance Agreement (FTD Companies, Inc.), Restricted Stock Unit Issuance Agreement (FTD Companies, Inc.)

Cessation of Service. Should the Participant cease Service for any reason prior to vesting in the Shares one or more Restricted Stock Units subject to this Award, then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units awarded hereunder will be reduced accordingly. All phantom dividend equivalents credited to those underlying Shares in the book account also shall be immediately cancelled, and forfeited. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled unitsUnits.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (Immunomedics Inc)

Cessation of Service. Should the Participant cease Service for any reason prior to vesting in the Shares one or more Restricted Stock Units subject to this Award, then the Award will be immediately cancelled with respect to those unvested Restricted Stock Units awarded hereunder shall be immediately cancelled, and Units. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (Sandisk Corp)

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Cessation of Service. Should the Participant cease Service for any reason prior to vesting in the Shares subject to this Award, then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units awarded hereunder shall will be immediately cancelled, and reduced accordingly. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (Portal Software Inc)

Cessation of Service. Should Participant cease Cease Service of the Corporation or should change to a lower position in the Corporation than that position held at time of grant, for any reason prior to vesting in the Shares subject to this Award, then the Restricted Stock Units awarded hereunder shall be immediately cancelled, and Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (Hallador Energy Co)

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