Common use of Effect of Voluntary Termination or Termination for Cause or Suicide Clause in Contracts

Effect of Voluntary Termination or Termination for Cause or Suicide. If Executive’s employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all Shares of Restricted Stock vest pursuant to the provisions of paragraph 4(a) above, then any Shares of Restricted Stock which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Synovus Financial Corp), Restricted Stock Award Agreement (Total System Services Inc), Restricted Stock Award Agreement (Total System Services Inc)

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Effect of Voluntary Termination or Termination for Cause or Suicide. If Executive’s employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all Restricted Shares of Restricted Stock vest pursuant to the provisions of paragraph 4(a) above, then any Restricted Shares of Restricted Stock which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Total System Services Inc), Restricted Stock Award Agreement (Synovus Financial Corp), Restricted Stock Award Agreement (Total System Services Inc)

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Effect of Voluntary Termination or Termination for Cause or Suicide. If Executive’s 's employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s 's death due to suicide before all Restricted Shares of Restricted Stock vest pursuant to the provisions of paragraph 4(a) above, then any Restricted Shares of Restricted Stock which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Total System Services Inc), Restricted Stock Award Agreement (Synovus Financial Corp)

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