Effect of Termination of Employment or Other Relationship. If an Optionee’s employment or other relationship with the Corporation (or a subsidiary) terminates, the effect of the termination on the Optionee’s rights to acquire Shares shall be as set forth in Section 9 of the Plan.
Effect of Termination of Employment or Other Relationship. In the event Recipient’s employment with the Company terminates for any reason, all Non-Vested Shares then held by Recipient shall be forfeited immediately upon such termination and shall revert back to the Company without any payment to Recipient; provided, however, in the event Recipient’s employment with the Company terminates due to Involuntary Termination (as such term is defined in the Employment Agreement), then any Non-Vested Shares as of the date of such Involuntary Termination shall remain outstanding and subject to this Agreement and shall become vested if the vesting condition with respect to such Non-Vested Shares set forth in Section 2 is satisfied on the earlier of (a) the vesting date with respect to such Non-Vested Shares set forth in Section 2 and (b) the (i) second anniversary of the date of such Involuntary Termination if such Involuntary Termination occurs on or before the first anniversary of the Effective Date and (ii) first anniversary of the date of such Involuntary Termination if such Involuntary Termination occurs after the first anniversary of the Effective Date. Non-Vested Shares as of the date of such Involuntary Termination shall be forfeited immediately upon the earlier of the dates sets forth in subsections (a) and (b) above if the vesting condition with respect to such Non-Vested Shares is not satisfied by the earlier of the two aforementioned dates. Unless the Committee otherwise determines in its reasonable discretion, Recipient’s employment will, for purposes of this Agreement, be deemed to have terminated on the date recorded on the personnel or other records of the Company, as determined by the Committee in its reasonable discretion based upon such records. The Committee shall have the power and authority to enforce on behalf of the Company any rights of the Company under this Agreement in the event of Recipient’s forfeiture of Non-Vested Shares pursuant to this Section 4.
Effect of Termination of Employment or Other Relationship. Notwithstanding any provisions to the contrary contained in the Plan, in the event:
(a) Recipient’s employment with the Company terminates based on termination by the Company without Cause (as such term is defined in Section 1(b) of the Employment Agreement) other than due to death, Disability (as such term is defined in the Plan) or the unanimous decision of the Board members (other than the Recipient) that the Recipient has not satisfactorily performed or discharged his duties as the chief executive officer of the Company (but such non-satisfactory performance has not amounted to a Cause under the Employment Agreement)(the “Non-Satisfactory Performance”), then all Non-Vested Shares as of the date of such termination shall become vested immediately regardless of whether the KPI has been achieved or not; or
(b) Recipient’s employment with the Company terminates based on termination by the Company with Cause, then all Non-Vested Shares as of the date of such termination shall become forfeited immediately; or
(c) Recipient’s employment with the Company terminates due to death, Disability or Non-Satisfactory Performance or for any other reason not contemplated under sub-Section (a) or (b) above, then any Non-Vested Shares as of the date of such termination shall, become vested or forfeited as determined by the Committee in its reasonable discretion. The Committee shall have the power and authority to enforce on behalf of the Company any rights of the Company under this Agreement in the event of Recipient’s forfeiture of Non-Vested Shares pursuant to this Section 4.
Effect of Termination of Employment or Other Relationship. The RSU, to the extent not theretofore vested, shall terminate on Participant’s Termination Date, except that:
(a) in the event a Termination Date occurs under circumstances that constitute Participant’s Retirement, or in the event of a Termination Date after a Change in Control, all unvested shares of Common Stock underlying the RSU shall become vested and as soon as practicable thereafter, be distributed to the Participant; and
(b) in the event a Termination Date occurs due to Participant’s Termination due to death or Termination or Resignation due to permanent disability, all unvested shares of Common Stock underlying the RSU shall become vested and as soon as practicable thereafter, be distributed to the Participant or in the event of death, Participant’s beneficiary.
Effect of Termination of Employment or Other Relationship. In the event Recipient’s [directorship/employment] with the Company terminates for any reason other than termination by the Company without Cause or termination by the Recipient for Good Reason, (i) prior to a Trigger Event, then this Agreement and all of Recipient’s rights hereunder shall terminate effective as of the termination of service and (ii) after a Trigger Event, then all Non-Vested Shares then held by Recipient shall be forfeited immediately upon such termination of service and shall revert back to the Company without any payment to Recipient. In the event Recipient’s employment with the Company terminates due to termination by the Company without Cause or termination by the Recipient for Good Reason, (iii) prior to a Trigger Event, then upon a Trigger Event taking place on or before May 31, 2017, all shares of Restricted Stock shall be issued to Recipient upon such Trigger Event as Vested Shares and (iv) after a Trigger Event, all Non-Vested Shares shall remain outstanding and shall become vested. The Committee shall have the power and authority to enforce on behalf of the Company any rights of the Company under this Agreement in the event of Recipient’s forfeiture of Non-Vested Shares pursuant to this Section 4.
Effect of Termination of Employment or Other Relationship. The RSU Award, to the extent not theretofore vested, shall terminate on Participant’s Termination Date, except that:
(a) in the event a Termination Date occurs after a Change in Control, all unvested shares of Common Stock underlying the RSU Award shall become vested and as soon as practicable thereafter, be distributed to the Participant; and
(b) in the event a Termination Date occurs due to Participant’s Termination due to death or Termination or Resignation due to permanent disability, all unvested shares of Common Stock underlying the RSU Award shall become vested and as soon as practicable thereafter, be distributed to the Participant or in the event of death, Participant’s beneficiary.
Effect of Termination of Employment or Other Relationship. The Option is exercisable only by the Optionee while he is actively employed as an employee, an independent contractor or a consultant of the Corporation or a subsidiary, except that: - the Option, if otherwise exercisable, may be exercised by the personal representative of a deceased Optionee within twelve months after the death of such Optionee (but not beyond the term of the Option); - if the Optionee terminates his employment as an employee, his independent contractor arrangement or consulting arrangement with the Corporation or a subsidiary on account of Retirement, the Optionee may exercise that portion of the Option which is otherwise exercisable at any time within three months of such date of termination; - if the Optionee terminates his employment as an employee, his independent contractor arrangement or consulting arrangement with the Corporation or a subsidiary on account of incurring a Disability, the Optionee may exercise that portion of the Option which is otherwise exercisable at any time within twelve months of such date of termination; and - if the Optionee should die during the applicable three-month or twelve-month period following the date of the Optionee's Retirement or termination on account of Disability, the rights of the personal representative of the Optionee as such relate to the Option granted to the deceased Optionee shall be governed in accordance with the first bullet point above.
Effect of Termination of Employment or Other Relationship. The effect of the termination of an Optionee's employment or other relationship with the Corporation on such Optionee's eligibility to exercise any Options awarded pursuant to the Plan shall be as follows:
Effect of Termination of Employment or Other Relationship. The Option, to the extent not theretofore exercised, shall terminate on Optionee's Termination Date, except that:
(a) in the event a Termination Date occurs due to Optionee's Resignation or Termination (other than in circumstances described in paragraphs (b) or (c) below), Optionee may during the 90-day period following such Resignation or Termination exercise the Option to the extent such Option was exercisable on Optionee's Termination Date provided, however, that in no event may the Option be exercised after the expiration of the term of the Option as described in paragraph 3;
(b) in the event a Termination Date occurs under circumstances that constitute Optionee's Retirement, or in the event of a Termination Date after a Change in Control, Optionee may during the three-year period following such Termination Date exercise the Option, whether or not all or part of the Option was exercisable on Optionee's Termination Date, provided, however, that in no event may the Option be exercised after the expiration of the term of the Option as described in paragraph 3;
(c) in the event a Termination Date occurs due to Optionee's Termination due to death or Termination or Resignation due to permanent disability, Optionee or, in the event of death, Optionee's representative, may during the three-year period following such Termination or Resignation exercise the Option, whether or not all or part of the Option was exercisable on Optionee's Termination Date, provided, however, that in no event may the Option be exercised after the expiration of the term of the Option as described in paragraph 3; and
(d) in the event of Optionee's death during the 90-day or three-year period described in paragraphs (a), (b) and (c) above, Optionee's personal representative may, during the remainder of the 90-day or three-year period, as applicable, exercise the Option to the extent the Option was exercisable at the time of Optionee's death, provided, however, that in no event shall any Option be exercised after the expiration of the term of the Option as described in paragraph 3.
(e) In the event of a Termination For Cause, any unexercised portion of the Option, whether vested or not vested, shall immediately terminate.
Effect of Termination of Employment or Other Relationship. Notwithstanding any provisions to the contrary contained in the Plan, in the event:
