Effect of Terminating Employment Sample Clauses

Effect of Terminating Employment. Subject to Section 1.00, if you terminate employment any unexercised Awards will expire on the earlier of: • The Award’s Expiration Date, even if you are employed on that date; • If your employment terminates for any reason other than death or disability, the date your employment ends; or • If you terminate because you are disabled or you die, 12 months after your employment ends.
Sample 1
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Effect of Terminating Employment. A. If the Optionee Retires: The Option will become fully exercisable and may be exercised at any time before the earlier of (1) the last day of the Option Term or (2) five years after the Retirement date. B. If the Optionee is Terminated by the Company (or a Related Entity) for Cause or the Optionee voluntarily Terminates: The entire Option will be canceled and forfeited on the Termination date, including the portion then exercisable. C. If the Optionee is Terminated by the Company (or a Related Entity) without Cause: The portion of the Option that is then exercisable may be exercised before the earlier of (1) the last day of the Option Term or (2) 30 days after the Termination date; the portion of the Option that is not then exercisable will be forfeited. D. If the Optionee dies or becomes Disabled: The Option will become fully exercisable and may be exercised at any time before the earlier of (1) the last day of the Option Term or (2) five years after the date of death or Disability.
Sample 1
Effect of Terminating Employment. Subject to the Section 1.00: [1] If you terminate employment any unexercised Awards will expire on the earlier of: - The Award's Expiration Date, even if you are employed on that date; - The date your employment ends, if you are terminated by the Company for cause (as defined in the Plan); - Thirty days after your employment ends, if you are involuntarily terminated by the Company for any reason other than cause; - The date your employment ends, if you terminate your employment voluntarily (other than for retirement, as defined in the Plan); - Three months after your retirement (or 12 months after your retirement if you die within three months after you retire), if you terminate after reaching retirement age; - Twelve months after your employment ends, if you terminate because of a disability (as defined in the Plan); or - Twelve months after your death, if you terminate because you die. [2] If you are a Director (and not also an employee), your Awards: - May be exercised any time within three months after you leave the Board (except Awards with an earlier Expiration Date); and - If you die within three months of the date you leave the Board, your Awards will expire on the earlier of the Award's Expiration Date or 12 months after the date your directorship ends. Note, it is your responsibility to keep track of when your Awards expire.
Sample 1
Effect of Terminating Employment. Subject to the Sections 1.00 and 4.00, the effect of a termination of employment is illustrated in the following table:
Sample 1
Effect of Terminating Employment. Subject to the Section 1.00, the effect of a termination of employment is illustrated in the following table: If your employment terminates because of . . . Your restricted stock will be . . ----------------------------------------------------------------------------- You die Fully vested ----------------------------------------------------------------------------- You become disabled (as defined in the Plan) Fully vested ----------------------------------------------------------------------------- You terminate voluntarily for "good reason" Fully vested (as defined in your employment agreement dated December 1, 2005) ----------------------------------------------------------------------------- You terminate voluntarily for reasons other Forfeited than "good reason" (as defined in your employment agreement dated December 1, 2005) or that agreement expires without renewal ----------------------------------------------------------------------------- You are involuntarily terminated by the Company Forfeited for "cause" (as defined in your employment agreement dated December 1, 2005) ----------------------------------------------------------------------------- You are involuntarily terminated by the Company Fully vested for reasons other than "cause" (as defined in your employment agreement dated December 1, 2005) -----------------------------------------------------------------------------
Sample 1
Effect of Terminating Employment. Subject to the Section 1.00, the effect of a termination of employment is described in the Plan and the Plan Prospectus. Also, any unmatured Restricted Stock at the time you terminate board service shall be forfeited to the Company as well as all rights, title and interest in the shares. The shares so forfeited shall be deemed to have been transferred to the Company, and you will have no further rights as a shareholder of the Company.
Sample 1
Effect of Terminating Employment. A. If the Optionee Retires: Subject to Section 3(C), the Option will become fully exercisable and may be exercised at any time before the earlier of (1) the last day of the Option Term or (2) five years after the Retirement date. B. If the Optionee is Terminated by the Company (or a Related Entity) for Cause or the Optionee voluntarily Terminates: Subject to Section 3(C), the entire Option will be canceled and forfeited on the Termination date, including the portion then exercisable. C. If the Optionee is Terminated by the Company (or a Related Entity) without Cause: Subject to Section 3(C), the portion of the Option that is then exercisable may be exercised before the earlier of (1) the last day of the Option Term or (2) 30 days after the Termination date; the portion of the Option that is not then exercisable will be forfeited. D. If the Optionee dies or becomes Disabled: The Option will become fully exercisable and may be exercised at any time before the earlier of (1) the last day of the Option Term or (2) five years after the date of death or Disability.
Sample 1
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Effect of Terminating Employment 
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Related to Effect of Terminating Employment

  • Effect of Termination of Employment (a) Upon the effective date of termination of the Employee's employment pursuant to Section 6, Section 7(a) or Section 7(c) hereof, neither the Employee nor the Employee's beneficiaries or estate shall have any further rights under this Agreement or any claims against the Corporation arising out of this Agreement, except the right to receive, within 30 days of the Termination Date: (i) the unpaid portion of the Base Salary provided for in Section 5(a), computed on a pro rata basis to the Termination Date; (ii) reimbursement for any expenses for which the Employee shall not have theretofore been reimbursed, as provided in Section 5(d); and (iii) the unpaid portion of any amounts earned by the Employee prior to the Termination Date pursuant to any Benefit Arrangement; provided, however, unless specifically provided otherwise in this Section 8, the Employee shall not be entitled to receive any benefits under a Benefit Arrangement that have accrued during a fiscal year if the terms of such Benefit Arrangement require that the beneficiary be employed by the Corporation as of the end of such fiscal year. (b) Upon the termination of the Employee's employment pursuant to Section 7(b), neither the Employee nor the Employee's beneficiaries or estate shall have any further rights under this Agreement or any claims against the Corporation arising out of this Agreement, except the right to receive: (i) the unpaid portion of the Base Salary, computed on a pro rata basis, for the period from the Commencement Date until the first anniversary of the Termination Date, payable in such installments as the Base Salary was paid prior to the Termination Date; and (ii) the payments, if any, referred to in Sections 8(a)(ii) and (iii). (c) The Employee's obligations under Sections 9, 10 and 11 of this Agreement, and the Corporation's obligations under this Section 8, shall survive the termination of this Agreement and the termination of the Employee's employment hereunder.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) Executive’s employment hereunder may be terminated by the Company at any time: (i) upon the determination that Executive’s performance of his duties has not been fully satisfactory for any reason which would not constitute justifiable cause (as hereinafter defined) or for other business reasons necessitating termination which do not constitute justifiable cause, in either case upon thirty (30) days’ prior written notice to Executive; or (ii) upon the determination that there is justifiable cause (as hereinafter defined) for such termination. (b) Executive’s employment shall terminate upon: (i) the death of Executive; (ii) the “total disability” of Executive (as hereinafter defined in Subsection (c) herein) pursuant to Subsection (h) hereof; or (iii) Executive’s resignation of employment. (c) For the purposes of this Agreement, the term “total disability” shall mean Executive is physically or mentally incapacitated so as to render Executive incapable of performing the essentials of Executive’s job, even with reasonable accommodation, as reasonably determined by the Company, which determination shall be final and binding. (d) For the purposes hereof, the term “justifiable cause” shall mean: any failure or refusal to perform any of the duties pursuant to this Agreement or any breach of this Agreement by the Executive; Executive’s breach of any material written policies, rules or regulations which have been adopted by the Company; Executive’s repeated failure to perform his duties in a satisfactory manner; Executive’s performance of any act or his failure to act, as to which if Executive were prosecuted and convicted, a crime or offense involving money or property of the Company or its subsidiaries or affiliates, or a crime or offense constituting a felony in the jurisdiction involved, would have occurred; any unauthorized disclosure by Executive to any person, firm or corporation of any confidential information or trade secret of the Company or any of its subsidiaries or affiliates; any attempt by Executive to secure any personal profit in connection with the business of the Company or any of its subsidiaries and affiliates; or the engaging by Executive in any business other than the business of the Company and its subsidiaries and affiliates which interferes with the performance of his duties hereunder. Upon termination of Executive’s employment for justifiable cause, this Agreement shall terminate immediately and Executive shall not be entitled to any amounts or benefits hereunder other than such portion of Executive’s annual base salary and reimbursement of expenses pursuant to Section 5 hereof as have been accrued through the date of his termination of employment.

  • Effect of Termination for Cause In the event the Executive’s employment shall be terminated for Cause pursuant to Section 5.1 hereof, the Company shall pay the Executive his salary through the date of termination.

  • Effect of Termination of Service Except as otherwise provided in accordance with Section 4(b) above, if you cease to be a Service Provider, you will forfeit all unvested Units.

  • Effect of Termination on Compensation In the event of the termination of this Agreement prior to the completion of the term of employment specified in Article 1, the Employee shall be entitled to the compensation earned by the Employee prior to the effective date of termination as provided for in this Agreement, computed pro rata up to and including that date. Except as otherwise provided in this Agreement, the Employee shall be entitled to no further compensation after the date of termination.

  • Termination Effect of Termination 41 Section 8.01. Termination............................................................. 41 Section 8.02. Effect of Termination................................................... 42

  • Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • Term and Termination of Employment (a) This Agreement shall be effective as of the Effective Date. (b) Employee's Employment shall terminate immediately upon the discharge of Employee by NOVA for "Cause." For the purposes of this Agreement, the term "Cause," when used with respect to termination by NOVA of Employee's Employment hereunder, shall mean termination as a result of: (i) Employee's material violation of the covenants set forth in Section 11 or 12, (ii) Employee's willful, intentional, or grossly negligent failure to perform his duties under this Agreement diligently and in accordance with the directions of NOVA; (iii) Employee's willful, intentional, or grossly negligent failure to comply with the good faith decisions or policies of NOVA; or (iv) final conviction of Employee of a felony materially adversely affecting NOVA; provided, however, that in the event -------- ------- NOVA desires to terminate Employee's Employment pursuant to subsections (i), (ii), or (iii) of this Section 7(b), NOVA shall first give Employee written notice of such intent, detailed and specific description of the reasons and basis therefor, and thirty (30) days to remedy or cure such perceived breach or deficiency (the "Cure Period"); provided, however, that -------- ------- with respect only to a breach that it is not possible to cure within such thirty (30) day period, so long as Employee is diligently using his best efforts to cure such breach or deficiency within such period and thereafter, the Cure Period shall be automatically extended for an additional period of time (not to exceed sixty (60) additional days) to enable Employee to cure such breach or deficiency, provided, further, that -------- ------- Employee continues to diligently use his best efforts to cure such breach or deficiency. If Employee does not cure the perceived breach or deficiency within the Cure Period, NOVA may discharge Employee immediately upon written notice to Employee. If NOVA desires to terminate Employee's Employment pursuant to subsection (iv) of this Section 7(b), NOVA shall first give Employee three (3) days prior written notice of such intent.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Notice of Termination; Effect of Termination Any termination of this Agreement under Section 7.1 above will be effective immediately upon the delivery of written notice of the terminating party to the other parties hereto. In the event of the termination of this Agreement as provided in Section 7.1, this Agreement shall be of no further force or effect, except (i) as set forth in this Section 7.2, Section 7.3 and Article 8 (miscellaneous), each of which shall survive the termination of this Agreement, and (ii) nothing herein shall relieve any party from liability for any willful breach of this Agreement. No termination of this Agreement shall affect the obligations of the parties contained in the Confidentiality Agreement, all of which obligations shall survive termination of this Agreement in accordance with their terms.

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