Effect of Termination of Employment or Other Relationship Sample Clauses

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.
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Effect of Termination of Employment or Other Relationship. Notwithstanding any provisions to the contrary contained in the Plan, in the event:
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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.
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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:
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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.
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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:
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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.
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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:
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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:
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Related to Effect of Termination of Employment or Other Relationship

  • Effect of Termination of Employment or Death If the Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company or a Subsidiary for any reason except death, the portion of the SAR which is unexercisable on the date on which the Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the SARs which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of this SAR in accordance with the term for which the SAR was granted, or (ii) three months (one year in the case of termination by reason of Disability of the Employee under the terms of the Plan) from such date, except in the case of an Employee who is an "Approved Retiree" as defined below. If Employee is an Approved Retiree, then the SAR shall expire at the sooner to occur of (i) the expiration of such SAR in accordance with its original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to SARs granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect that portion of the SARs equal to the number of such shares multiplied by the ratio of (a) the number of days between the Grant Date and the retirement date inclusive, over (b) the number of days on and after the Grant Date and before the first anniversary of the Grant Date. In the event of the death of Employee without Approved Retiree status during the three month period following termination of employment or a leave of absence over twelve months (except a leave of absence approved by the Board or Committee), the SAR shall be exercisable by the Employee's personal representative, heirs or legatees to the same extent and during the same period that the Employee could have exercised the SAR if the Employee had not died. In the event of the death of Employee while an employee or while an Approved Retiree, the SAR (if the waiting period has elapsed) shall be exercisable in its entirety by the Employee's personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of the Employee, but in no event after the term for which the SAR was granted. For purposes of this Agreement, an "Approved Retiree" is any SAR holder who (i) terminates employment by reason of a Disability, or (ii) (A) retires from employment with the Company with the specific approval of the Committee on or after such date on which the SAR holder has attained age 55 and completed 10 Years of Service, and (B) has entered into and has not breached an agreement to refrain from Engaging in Competition in form and substance satisfactory to the Committee; and if the Committee subsequently determines, in its sole discretion, that an Approved Retiree has violated the provisions of the Agreement to refrain from Engaging in Competition, or has engaged in willful acts or omissions or acts or omissions of gross negligence that are or potentially are injurious to the Company's operations, financial condition or business reputation, such Approved Retiree shall have ninety (90) days from the date of such finding within which to exercise any SARs or portions thereof which are exercisable on such date, and any SARs or portions thereof which are not exercised within such ninety (90) day period shall expire and any SARs or portion thereof which are not exercisable on such date shall be cancelled on such date.

  • Effect of Termination of Employment or Service Except as provided in Section 3, the Participant’s Share Units shall terminate and be forfeited to the extent such units have not become vested prior to the first date the Participant is no longer employed by or in service to the Company or one of its Subsidiaries, regardless of the reason for the termination of the Participant’s employment or service with the Company or a Subsidiary, whether voluntarily or involuntarily. If any unvested Share Units are terminated hereunder, such Share Units shall automatically terminate and be forfeited as of the applicable termination date without payment of any consideration by the Company and without any other action by the Participant, or the Participant’s beneficiary or personal representative, as the case may be.

  • Effect of Termination of Employment or Services (a) The Restricted Stock granted pursuant to this Agreement shall vest in accordance with the vesting schedule reflected in Paragraph 2(b) above, as long as the Participant remains employed by or continues to provide services to the Company or a Subsidiary. If, however, either:

  • Termination of Employment Relationship 3.1 The Executive’s employment with the Company shall automatically terminate, and the Employment Term shall thereupon terminate:

  • Effect of Termination of Employment The provisions of this Section 6 shall apply in the event of termination of Executive’s employment, pursuant to Section 5, or otherwise.

  • Termination of Relationship If Optionee terminates Continuous Status --------------------------- as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • 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.

  • Termination of Employment or Services Except as set forth herein, if the Participant’s employment with, membership on the board of directors of, or engagement to provide services to, the Company or any of its Affiliates terminates for any reason, all unvested RSUs shall be canceled immediately and the Participant shall not be entitled to receive any payments with respect thereto.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

  • Termination of Employment or Service If the Participant’s employment or service with the Company and its Affiliates terminates for any reason, all unvested RSUs shall be cancelled immediately and the Participant shall not be entitled to receive any payments with respect thereto.

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