Effect of Termination of Employment or Services. If the Participant ceases to be employed by or ceases to provide services to the Corporation and its Subsidiaries (the date of such termination of employment or service is referred to as the Participant’s “Severance Date”), the Participant’s Stock Units shall terminate to the extent such units have not become vested pursuant to Section 3 hereof upon the Severance Date regardless of the reason for the termination of the Participant’s employment or services, except as provided in Section 9(b) below.
Appears in 2 contracts
Samples: Employment Agreement (Quality Care Properties, Inc.), Employment Agreement (Quality Care Properties, Inc.)
Effect of Termination of Employment or Services. If the Participant ceases to be employed by or ceases to provide services to the Corporation and its Subsidiaries (the date of such termination of employment or service is referred to as the Participant’s “Severance Date”), the Participant’s Stock Units shall terminate to the extent such units have not become vested pursuant to Section 3 hereof upon the Severance Date regardless of the reason for the termination of the Participant’s employment or services, except as provided in Section 9(b) below.
Appears in 1 contract
Samples: Employment Agreement (Quality Care Properties, Inc.)
Effect of Termination of Employment or Services. If the Participant ceases to be employed by or ceases to provide services to the Corporation and its Subsidiaries (the date of such termination of employment or service is referred to as the Participant’s “Severance Date”), the Participant’s shares of Performance Restricted Stock Units shall terminate to the extent such units shares have not become vested pursuant to Section Sections 3 and 7 hereof upon the Severance Date regardless of the reason for the termination of the Participant’s employment or services, except as provided in Section 9(b) below.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Quality Care Properties, Inc.)
