Common use of Effective Time of Termination Clause in Contracts

Effective Time of Termination. Except as the Committee may otherwise determine, for purposes hereof, any termination of Awardee’s employment or service for any reason shall occur on the date such Awardee ceases to perform services for Micro or an Affiliate (the “Termination Date”) without regard to whether such Awardee continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in lieu of notice of termination. The Termination Date will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); Micro shall have the exclusive discretion to determine the Termination Date for purposes of the Restricted Stock Unit Award.

Effective Time of Termination. Except as the Committee may otherwise determine, for purposes hereof, any termination of Awardee’s employment or service for any reason shall occur on the date such Awardee ceases to perform services for Micro or an any Affiliate (the “Termination Date”) without regard to whether such Awardee continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in lieu of notice of termination. The Termination Date will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); Micro shall have the exclusive discretion to determine the Termination Date for purposes of the Restricted Stock Unit Award.