Continuation as Director. Neither this Agreement nor the payment of any benefits thereunder shall be construed as giving to the Director any right to be retained as a member of the Board of Directors of the Bank.
Continuation as Director. This Agreement shall not be construed to confer upon the Director any right to continue to serve as a member of the Board.
Continuation as Director. Except as otherwise provided in this Agreement, in the event that Participant ceases to be a member of the Board during any Restriction Period for any reason, all unvested RSUs will be forfeited immediately.
Continuation as Director. If Participant ceases to be a member of the Board for any reason, the right to exercise the Option, to the extent the Option had become exercisable on or before the termination date, will expire at the end of the following periods:
Continuation as Director. Upon the occurrence of any event that results in a Shareholder no longer being entitled to nominate a director under Section 7.01, the Person so nominated shall continue as a director of the Company until his successor is nominated, elected and qualifies.
Continuation as Director. If Participant ceases to be a member of the Board for any reason, the right to exercise the Option, to the extent the Option had become exercisable on or before the termination date, will expire at the end of the following periods: After Termination On Account of Period Death 1 year Retirement 5 years Disability 1 year Any other reason 3 months
Continuation as Director. Notwithstanding any provision of this Agreement to the contrary, if the Option Holder's employment by the Company terminates but he continues to serve on the Board, (i) 50% of the unvested Option, if any, shall continue to vest and become exercisable in accordance with the schedule set forth in paragraph (d) above for so long as the Option Holder continues to serve on the Board, (ii) the remaining 50% of the unvested Option, if any, shall be immediately forfeited to the Company upon such termination of employment, (iii) the Option, to the extent it is or becomes vested, will continue to be exercisable until ninety (90) days after the Option Holder ceases to be a member of the Board (but not beyond the Option Period), and (iv) any portion of the Option which is unexercisable at the time of the Option Holder's termination of service on the Board shall be immediately forfeited to the Company; provided, however, that if, after becoming a nonemployee member of the Board, the Employee is involuntarily removed from the Board, or after having agreed to stand for reelection is not reelected to the Board, in either case not due to circumstances that would constitute Cause under the Employment Agreement, then any unvested Options that were not previously forfeited shall become vested at the time the Employee ceases to be member of the Board.
Continuation as Director. Neither this Option, the Plan nor any Option granted thereunder shall confer upon the Optionee any right whatsoever to continue as Director of the Company or any of its Subsidiaries for any period of time, or at any particular rate of compensation.
Continuation as Director. Neither this Benefit Plan nor the payments of any benefits thereunder shall be construed as giving to the Director any right to be retained as a member of the Board of Directors of the Company.
Continuation as Director. If he so wishes, ML will remain a nonexecutive director of GISA until the 2004 annual general meeting of GISA shareholders (the "2004 Meeting"), as long as ML owns directly or indirectly at least 10% of the issued and outstanding shares of GISA. Consistent with his position as a nonexecutive director, ML will no longer maintain office space or secretarial staff at the Company, will refrain from communication with management, employees and representatives of the Company (other than consistent with his role as a nonexecutive director) and will not involve himself in the management of the Company. ML will make himself available to consult with the interim Chairman and the interim CEO.
