Common use of Effect of Termination of Employment or Services Clause in Contracts

Effect of Termination of Employment or Services. Subject to earlier vesting as provided in the Plan, Section 9 hereof, or in the event of a Change in Control (as discussed below), if Employee ceases to be employed by or ceases to provide services to the Corporation or a Subsidiary, Employee’s shares of Restricted Stock (and related Restricted Property as defined in Section 9 hereof) shall be forfeited to the Corporation to the extent such shares have not become vested pursuant to Section 3 upon the date Employee’s employment or services terminate. Upon the occurrence of any forfeiture of shares of Restricted Stock hereunder, such unvested, forfeited shares and related Restricted Property shall be automatically transferred to the Corporation, without any other action by Employee (or Employee’s beneficiary or personal representative in the event of Employee’s death or disability, as applicable) and the Corporation shall refund the Purchase Price (if any) for such forfeited shares to Employee (or Employee’s beneficiary or personal representative in the event of Employee’s death or disability, as applicable). No additional consideration shall be paid by the Corporation with respect to such transfer. No interest shall be credited with respect to nor shall any other adjustments be made to the Purchase Price for fluctuations in the fair market value of the Common Stock either before or after the transfer date (except for customary adjustments to reflect stock splits, reverse stock splits, and stock dividends). The Corporation may exercise its powers under Section 7(d) hereof and take any other action necessary or advisable to evidence such transfer. Employee (or Employee’s beneficiary or personal representative in the event of Employee’s death or disability, as applicable) shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.

Effect of Termination of Employment or Services. Subject to earlier vesting as provided in the Plan, Section 9 hereof, or in the event of a Change in Control (as discussed below), if Employee ceases to be employed by or ceases to provide services to the Corporation or a Subsidiary, Employee’s 's shares of Restricted Stock (and related Restricted Property as defined in Section 9 hereof) shall be forfeited to the Corporation to the extent such shares have not become vested pursuant to Section 3 upon the date Employee’s 's employment or services terminate. Upon the occurrence of any forfeiture of shares of Restricted Stock hereunder, such unvested, forfeited shares and related Restricted Property shall be automatically transferred to the Corporation, without any other action by Employee (or Employee’s 's beneficiary or personal representative in the event of Employee’s 's death or disability, as applicable) and the Corporation shall refund the Purchase Price (if any) for such forfeited shares to Employee (or Employee’s 's beneficiary or personal representative in the event of Employee’s 's death or disability, as applicable). No additional consideration shall be paid by the Corporation with respect to such transfer. No interest shall be credited with respect to nor shall any other adjustments be made to the Purchase Price for fluctuations in the fair market value of the Common Stock either before or after the transfer date (except for customary adjustments to reflect stock splits, reverse stock splits, and stock dividends). The Corporation may exercise its powers under Section 7(d) hereof and take any other action necessary or advisable to evidence such transfer. Employee (or Employee’s 's beneficiary or personal representative in the event of Employee’s 's death or disability, as applicable) shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.

Effect of Termination of Employment or Services. Subject to earlier vesting as provided in If the Plan, Section 9 hereof, or in the event of a Change in Control (as discussed below), if Employee Participant ceases to be employed by or ceases to provide services to the Corporation or a SubsidiarySubsidiary (the date of such termination of employment or service is referred to as the Participant’s “Severance Date”), Employeethe Participant’s shares of Restricted Stock (and related Restricted Property as defined in Section 9 hereof) shall be forfeited to the Corporation to the extent such shares have not become vested pursuant to Section 3 hereof or Section 7 of the Plan upon the date EmployeeSeverance Date regardless of the reason for the termination of the Participant’s employment or services terminateservices; provided, however, that if the Participant’s employment is terminated as a result of the Participant’s death, Total Disability (as defined below) or Retirement (as defined below), the Participant’s shares of Restricted Stock (and related Restricted Property), to the extent not then vested, shall become fully vested as of the Participant’s Severance Date. If the Participant is employed by a Subsidiary and that entity ceases to be a Subsidiary, such event shall be deemed to be a termination of employment of the Participant for purposes of this Agreement, unless the Participant otherwise continues to be employed by the Corporation or another of its Subsidiaries following such event. Upon the occurrence of any forfeiture of shares of Restricted Stock hereunder, such unvested, forfeited shares and related Restricted Property shall be automatically transferred to the CorporationCorporation as of the Severance Date, without any other action by Employee the Participant (or Employeethe Participant’s beneficiary or personal representative in the event of Employee’s death or disability, as applicable) and the Corporation shall refund the Purchase Price (if any) for such forfeited shares to Employee (or Employee’s beneficiary or personal representative in the event of EmployeeParticipant’s death or disability, as applicable). No additional consideration shall be paid by the Corporation with respect to such transfer. No interest shall be credited with respect to nor shall any other adjustments be made to the Purchase Price for fluctuations in the fair market value of the Common Stock either before or after the transfer date (except for customary adjustments to reflect stock splits, reverse stock splits, and stock dividends). The Corporation may exercise its powers under Section 7(d) hereof and take any other action necessary or advisable to evidence such transfer. Employee The Participant (or Employeethe Participant’s beneficiary or personal representative in the event of Employeethe Participant’s death or disability, as applicable) shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.