Effect of Termination of Continuous Service. In the event of the termination of Grantee’s Continuous Service, all Units that are not vested will be immediately and automatically forfeited except as expressly provided on Exhibit A.
Effect of Termination of Continuous Service. In the event of a termination of the Participant’s Continuous Service for any reason, the Participant shall automatically forfeit the Participant’s Restricted Shares that have not become vested in accordance with Section 2 hereof, which portion shall be cancelled and be of no further force or effect.
Effect of Termination of Continuous Service. Except as provided in Section 3 in connection with the termination of Grantee’s Continuous Service as a result of Xxxxxxx’s death or Disability, in the event of the termination of Grantee’s Continuous Service, all Units that are not vested will be immediately, automatically, and without consideration forfeited.
Effect of Termination of Continuous Service. 4.1 The following terms shall govern the treatment of the RSU Award upon the Participant’s termination of Continuous Service:
Effect of Termination of Continuous Service. (a) If the Participant’s Continuous Service terminates for any reason other than the Participant’s (i) Disability, (ii) retirement after attaining age 65, or (iii) failure to be renominated for election to the Board, then the unvested portion of the Restricted Stock granted under this Agreement shall be immediately forfeited and canceled.
(b) If the Participant’s Continuous Service terminates as a result of the Participant’s (i) Disability, (ii) retirement after attaining age 65, or (iii) failure to be renominated for election to the Board, then all shares of Restricted Stock granted under this Agreement shall be fully vested on the date the Participant’s Continuous Service terminates.
Effect of Termination of Continuous Service. If, prior to vesting of the Restricted Stock Units pursuant to Section 3 or 4, Grantee ceases to provide Continuous Service for any reason (whether voluntary or involuntary), then Grantee’s rights to any unvested Restricted Stock Units shall be immediately and irrevocably forfeited, including the right to receive any Additional Restricted Stock Units. For purposes of clarity, Grantee must be providing Continuous Service on the date a milestone event occurs in order to obtain the benefit of any vesting pursuant to Section 3.
Effect of Termination of Continuous Service. (a) Subject to Sections 4(b) and (c), upon the Participant’s termination of Continuous Service for any reason prior to the Vesting Date, the RSUs granted under this Agreement shall be immediately forfeited and cancelled.
(b) Notwithstanding Sections 1(b) or 4(a), upon the date of a termination of Continuous Service by (i) the Company other than for Cause or (ii) the Participant on account of Good Reason, death, or Disability, the Participant (or the Participant’s designated beneficiary in the event of the Participant’s death) shall be vested in a ProRata Number of RSUs, and any unvested RSUs shall be immediately forfeited and canceled. The Company shall issue to the Participant (or the Participant’s designated beneficiary in the event of the Participant’s death) one (1) share of Stock free and clear of any restrictions for each RSU that vests pursuant to this Section 4(b) within ten (10) days following the date of termination of Continuous Service.
(c) A “ProRata Number of RSUs” means a number of RSUs equal to the number of RSUs granted under this Agreement subject to Section 4(b), multiplied by a fraction, the numerator of which is the number of fully completed months that have elapsed during the period commencing on the Grant Date and ending on the date of termination of Continuous Service, and the denominator of which is 36.
(d) The determination of whether the Participant’s Continuous Service is terminated by the Company other than for Cause shall be made by the Committee, in its sole discretion.
(e) For the purposes of Section 4, the following terms shall have the following meanings:
Effect of Termination of Continuous Service. (a) Subject to Sections 4(b), (c) and (d), upon the Participant’s termination of Continuous Service for any reason, the unvested portion of the RSUs evidenced by this Agreement shall be immediately forfeited and canceled (except that if the Participant’s Continuous Service is terminated by the Company other than for Cause, or by the Participant for Good Reason, prior to any Vesting Date, the Participant shall be deemed to have continued in Continuous Service through the next following Vesting Date).
(b) Notwithstanding Section 1(b) or 4(a), if, prior to a Vesting Date, the Participant’s Continuous Service is terminated by the Company for Cause, then the Participant shall forfeit any right to, and not be issued or receive, any shares of Stock under this Agreement.
(c) Notwithstanding Section 1(b) or 4(a), upon the date of a termination of Continuous Service by the Participant on account of death, the Participant’s designated beneficiary shall be fully vested in any RSUs that remain unvested as of such date. The Company shall issue the Participant’s designated beneficiary one (1) share of Stock free and clear of any restrictions for each RSU that vests pursuant to this Section 4(b) within ten (10) days following the date of the Participant’s death.
(d) Notwithstanding Section 1(b) or 4(a), upon the date of a termination of Continuous Service by the Participant on account of Good Reason or Disability, the Participant shall be vested in a Pro-Rata Number of RSUs, and any unvested RSUs shall be immediately forfeited and canceled. The Company shall issue the Participant one (1) share of Stock free and clear of any restrictions for each RSU that vests pursuant to this Section 4(d) within __________ days following the date of termination of Continuous Service on account of Disability.
Effect of Termination of Continuous Service. In the event of the termination of Gxxxxxx’s Continuous Service, all Units that are not vested will be forfeited.
Effect of Termination of Continuous Service. Any Restricted Stock Units subject to this Agreement, to the extent not vested as of the date of termination of Grantee’s Continuous Service, shall terminate as of such date (regardless of the reason for such termination, including, without limitation, a termination due to death or permanent disability), and the Grantee shall have no further rights with respect to such Restricted Stock Units.
