Exercise Upon Termination of Service Sample Clauses

Exercise Upon Termination of Service. (A) If the Participant at any time incurs a Termination of Service (i) by reason of his discharge for Cause or (ii) due to his voluntary Termination of Service without the written consent of the Committee, the Option shall, at the time of such Termination of Service, terminate and the Participant shall forfeit all rights hereunder. If, however, the Participant for any other reason (other than Disability or death) incurs a Termination of Service, the Option may, subject to the provisions of Section 5 hereof, be exercised by the Participant to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to such Termination of Service, at any time within 90 days after such Termination of Service, at the end of which period the Option, to the extent not then exercised, shall terminate and the Participant shall forfeit all rights hereunder, even if the Participant subsequently returns to the Service of the Corporation or any Affiliate. In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
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Exercise Upon Termination of Service. (a) If the Participant at any time incurs a Termination of Service (i) by reason of his discharge for Cause or (ii) due to his voluntary Termination of Service [without the written consent of the Committee][in the absence of Good Reason], the Option shall, at the time of such Termination of Service, terminate and the Participant shall forfeit all rights hereunder. If, however, the Participant [for any other reason] (other than Disability or death) incurs a Termination of Service [on or after the first date upon which he would have been entitled to exercise the Option under the provisions of Section 3 hereof] , the Option may be exercised by the Participant [with respect to all or any part of the shares of Common Stock as to which the Participant had not exercised the Option at the time of his Termination of Service (regardless of whether the Option was fully exercisable at such time)] [(to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to his Termination of Service)], at any time within [________days/months] after such Termination of Service, at the end of which period the Option, to the extent not then exercised, shall terminate and the Participant shall forfeit all rights hereunder, even if the Participant subsequently returns to the Service of the Corporation or any Affiliate. In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
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Exercise Upon Termination of Service. (a) If, the Consultant for any reason (other than Disability or death of Participant or the satisfactory conclusion of the provision of services by Consultant in accordance with Consultant’s engagement by the Corporation or its Affiliates (“Satisfactory Conclusion”)) incurs a Termination of Consulting Relationship, the Option may, subject to the provisions of Section 5 hereof, be exercised by the Participant to the same extent the Participant would have been entitled under Section 3 hereof to exercise the Option immediately prior to such Termination of Service, at any time within one year after such Termination of Service, at the end of which period the Option, to the extent not then exercised, shall terminate and the Participant shall forfeit all rights hereunder, even if the Consultant subsequently returns to the Service of the Corporation or any Affiliate. For avoidance of doubt, if the Termination of Service is as a result of a Satisfactory Conclusion, the Term shall continue until the date as provided in Section 4. In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
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Exercise Upon Termination of Service. Upon the termination of an Optionee’s service as an outside Director for the Company for any reason other than Retirement, Disability, Change in Control or death, the Optionee’s Options shall be exercisable only as to those Shares which were immediately purchasable by the Optionee at the date of termination. In the event of the Optionee’s termination as an outside Director by reason of death, Retirement or Disability, all Options held by such Optionee shall become immediately exercisable by the Optionee or the Optionee’s legal representatives or beneficiaries. Upon termination of the Optionee’s service due to or within 12 months after a Change in Control, all Options held by such Optionee shall become immediately exercisable.
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Exercise Upon Termination of Service. In the event that the Optionee ceases to be in the service of the Company and its Affiliates, the Option held by the Optionee (to the extent then outstanding) shall remain exercisable until the earlier of (x) the Expiration Date or (y) a period of one-hundred twenty (120) days following such termination of service, and shall thereafter terminate without further consideration to the Optionee; provided; however that (I) if the Optionee’s service with the Company or its Affiliates is terminated by the Company on account of the Optionee’s gross misconduct, as determined by the Board in good faith, the Option shall expire on the date of such termination and (II) if the Optionee’s service with the Company shall terminate on account of his death or Disability then the Option shall remain exercisable until the earlier of (x) the Expiration Date or (y) a period of one year following his death.
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Related to Exercise Upon Termination of Service

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • Termination of Service for Cause If your Service is terminated by the Company for Cause or if you commit an act(s) of Cause while this Option is outstanding, as determined by the Committee in its sole discretion, then you shall immediately forfeit all rights to your Option without consideration, including any vested portion of the Option, and the entire Option shall immediately expire, and any rights, payments and benefits with respect to the Option shall be subject to reduction or recoupment in accordance with the Clawback Policy and the Plan. For avoidance of doubt, your Service shall also be deemed to have been terminated for Cause by the Company if, after your Service has otherwise terminated, facts and circumstances are discovered that would have justified a termination for Cause, including, without limitation, your violation of Company policies or breach of confidentiality or other restrictive covenants or conditions that may apply to you prior to or after your Termination Date.

  • Compensation During Disability or Upon Termination (i) If, during the Protected Period, Employee fails to perform Employee's normal duties as a result of incapacity due to physical or mental illness, Employee shall continue during the period of such disability to receive Employee's full Base Salary and any awards, deferred and nondeferred, payable during such period under the Bonus Plan, less any amounts paid to Employee during such period of disability pursuant to the Company's short term disability or sick-leave program(s) until Employee's employment is terminated or such Disability ends. This Section 4(i) shall not reduce or impair Employee's rights to terminate employment for a Good Reason as otherwise provided herein.

  • Termination of Service Termination of Service shall mean the Executive's voluntary resignation of service by the Executive or the Bank's discharge of the Executive without cause, prior to the Early Retirement Date (Subparagraph I [K]).

  • Forfeiture Upon Termination as a Service Provider Notwithstanding any contrary provision of this Award Agreement, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to the Company and Participant will have no further rights thereunder.

  • Termination of Service Due to Death or Disability If an Awardee’s service on the Board terminates by reason of death or Disability, the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.

  • Other Termination of Service If the Optionee's Service with the Participating Company Group terminates for any reason, except Disability or death, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee's Service terminated, may be exercised by the Optionee within three (3) months after the date on which the Optionee's Service terminated, but in any event no later than the Option Expiration Date.

  • Exercise Period Upon Death or Disability If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

  • Rights Upon Termination of Employment The terms which regulate the treatment of the International Participant's Restricted Stock Units upon termination of employment are set out in the Plan and in the Award Documents. In summary, upon the International Participant's termination of employment for any reason other than death, Disability or Retirement, any unvested Restricted Stock Units shall be forfeited and cancelled on the date of such termination of employment.

  • Early Termination of Services Termination at any time upon 90 days’ prior written notice. Notwithstanding the second sentence of Section 4(b) of the Agreement, individual services within this schedule may be terminated without all other Services being simultaneously terminated. Upon the early termination of any Service(s) in this Schedule, Early Termination Fees of 75% of monthly costs shall be charged each month for 3 months.

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