Effect of Termination of Service or Leave of Absence. (a) For purposes of this Agreement, “Service” shall mean the performance of services for the Company (or any Affiliate) in the capacity of an Employee or Company Director and shall be considered terminated on the later of the last day the Participant is on payroll or the last day of service as a director for a Company Director. In the event of termination of the Participant’s Service by the Participant or by the Company or an Affiliate for any reason, excluding Participant’s death or disability (as determined by the Administrator) before the mPRSUs have vested, the unvested mPRSUs shall be cancelled by the Company (subject to the terms of any applicable Employment or Change in Control Agreement).
Appears in 4 contracts
Samples: Market Based Performance Restricted Stock Unit Award Agreement (Lam Research Corp), Market Based Performance Restricted Stock Unit Award Agreement (Lam Research Corp), Market Based Performance Restricted Stock Unit Award Agreement (Lam Research Corp)
