Common use of Changes in Participant’s Status Clause in Contracts

Changes in Participant’s Status. The Administrator will determine how the disability, death, retirement, authorized leave of absence or any other change or purported change in a Participant’s Service Provider status affects an Award and the extent to which, and the period during which, the Participant, the Participant’s legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. Except to the extent otherwise required by law or expressly authorized by the Company or by the Company’s written policy on leaves of absence, no Service credit shall be given for vesting purposes for any period the Participant is on a leave of absence.

Appears in 3 contracts

Samples: 2020 Incentive Award Plan (Eargo, Inc.), Incentive Award Plan (Eargo, Inc.), Business Combination Agreement (Sandbridge Acquisition Corp)

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Changes in Participant’s Status. The Administrator will determine how the disability, death, retirement, authorized leave of absence or any other change or purported change in a Participant’s Service Provider status affects an Award and the extent to which, and the period during which, the Participant, the Participant’s legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. Except to the extent otherwise required by law Applicable Law or expressly authorized by the Company or by the Company’s written policy on leaves of absence, no Service service credit shall be given for vesting purposes for any period the Participant is on a leave of absence.

Appears in 1 contract

Samples: Merger Agreement (Broadscale Acquisition Corp.)

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