Common use of Cessation of Service Clause in Contracts

Cessation of Service. Except as otherwise provided in Paragraph 4 below, should the Participant cease Service for any 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. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. Should the Participant’s Service terminate by reason of a Termination for Cause, then this Award will be immediately cancelled with respect to all the Restricted Stock Units subject to such Award, whether vested or unvested at the time, and the Participant shall thereupon cease to have any right or entitlement to receive any Shares under this Award and the cancelled Restricted Stock Units.

Appears in 7 contracts

Samples: Restricted Stock Unit Issuance Agreement (Ultratech Inc), Restricted Stock Unit Issuance Agreement (Ultratech Inc), Restricted Stock Unit Issuance Agreement (Ultratech Inc)

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Cessation of Service. Except as otherwise provided in Paragraph 4 below, should the Should Participant cease Service for any 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. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. Should the Participant’s Service terminate by reason of a Termination for CauseMisconduct, then this Award will be immediately cancelled with respect to all the Restricted Stock Units subject to such Award, whether vested or unvested at the time, and the Participant shall thereupon cease to have any right or entitlement to receive any Shares under this Award and the cancelled Restricted Stock Units.

Appears in 3 contracts

Samples: Strategic Advisory Services Agreement, Strategic Advisory Services Agreement (Amyris Biotechnologies Inc), Strategic Advisory Services Agreement (Amyris Biotechnologies Inc)

Cessation of Service. Except as otherwise provided in Paragraph 4 below, should the Participant cease Service for any 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. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. Should the Participant’s 's Service terminate by reason of a Termination for Cause, then this Award will be immediately cancelled with respect to all the Restricted Stock Units subject to such Award, whether vested or unvested at the time, and the Participant shall thereupon cease to have any right or entitlement to receive any Shares under this Award and the cancelled Restricted Stock Units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (Ultratech Inc)

Cessation of Service. Except as otherwise provided in Paragraph 4 below, should the Participant cease Service for any 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. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. Should Accordingly, if the Participant’s 's Service terminate is terminated by reason of a Termination the Corporation for CauseGood Cause or if Participant voluntarily terminates his Service other than for Good Reason, then this Award will be immediately cancelled with respect to all the Restricted Stock Units subject to such Award, whether which are not otherwise vested or unvested at the that time, and the Participant shall thereupon cease to have any right or entitlement to receive any Shares under this Award and the those cancelled Restricted Stock Units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (SJW Corp)

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Cessation of Service. Except as otherwise provided in Paragraph 4 below, should the Participant cease Service for any 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. The Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. Should Accordingly, if the Participant’s Service terminate is terminated by reason of a Termination the Corporation for CauseGood Cause or if Participant voluntarily terminates his Service other than for Good Reason, then this Award will be immediately cancelled with respect to all the Restricted Stock Units subject to such Award, whether which are not otherwise vested or unvested at the that time, and the Participant shall thereupon cease to have any right or entitlement to receive any Shares under this Award and the those cancelled Restricted Stock Units.

Appears in 1 contract

Samples: Restricted Stock Unit Issuance Agreement (SJW Corp)

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