Common use of Cessation of Service Clause in Contracts

Cessation of Service. The restricted stock units subject to this Award shall immediately vest in full upon Participant’s cessation of Board service by reason of death, Permanent Disability or Retirement. Should Participant cease Board service for any other reason prior to vesting in one or more 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 will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 11 contracts

Samples: Restricted Stock Unit Award Agreement (Matson, Inc.), Restricted Stock Unit Award Agreement (Matson, Inc.), Restricted Stock Unit Award Agreement (Matson, Inc.)

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Cessation of Service. The restricted stock units subject to this Award shall shall, to the extent not previously vested, immediately vest in full upon Participant’s cessation of Board service by reason of death, Permanent Disability or Retirement. Should Participant cease Board service for any other reason prior to vesting in one or more 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 will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Matson, Inc.), Restricted Stock Unit Award Agreement (Matson, Inc.)

Cessation of Service. The restricted stock units Shares subject to this Award shall immediately vest in full upon Participant’s cessation of Board service by reason of death, death or Permanent Disability or RetirementDisability. Should the Participant cease to serve as a Board service member for any other reason prior to vesting in one or more 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 Restricted Stock Units will be reduced accordingly. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 2 contracts

Samples: Restricted Stock Unit Issuance Agreement (GCT Semiconductor Inc), Restricted Stock Unit Issuance Agreement (GCT Semiconductor Inc)

Cessation of Service. The restricted stock units subject to this Award shall immediately vest in full upon Participant’s cessation of Board service by reason of death, death or Permanent Disability or RetirementDisability. Should Participant cease Board service for any other reason prior to vesting in one or more 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 will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (SJW Group), Restricted Stock Unit Award Agreement (SJW Corp)

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Cessation of Service. The restricted stock units subject to this Award shall immediately vest in full upon Participant’s 's cessation of Board service by reason of death, death or Permanent Disability or RetirementDisability. Should Participant cease Board service for any other reason prior to vesting in one or more all 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 will be reduced accordingly. 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 (Classmates Media CORP)

Cessation of Service. The restricted stock units subject to this Award shall immediately vest in full upon Participant’s 's cessation of Board service by reason of death, death or Permanent Disability or Retirementby reason of his or her unilateral removal from the Board other than for Misconduct. Should Participant cease Board service for any other reason prior to vesting in one or more all 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 will be reduced accordingly. 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 (Classmates Media CORP)

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