Expiration of Options upon Termination of Employment Sample Clauses

Expiration of Options upon Termination of Employment. Except as expressly set forth in the following chart, all Options, whether or not vested, that are held by such Qualified Person shall terminate and be immediately cancelled as of the Qualified Person’s Termination Date without the payment by the Corporation of any consideration therefore. Reason for Termination of Qualified Person’s Employment with the Sony Group Companies Consequence Qualified Person’s employment with the Sony Group Companies is terminated by the Sony Group Companies without Cause (whether or not the Qualified person is a party to an Employment Agreement at the time of such termination and including termination due to non-renewal of an Employment Agreement) OR Qualified Person’s employment with the Sony Group Companies terminates as a result of his or her death All Options that were vested immediately prior to the Termination Date will remain outstanding until the expiration of the Options. All Options that vest on the Termination Date will remain outstanding until the earlier to occur of (a) the first anniversary of the Termination Date and (b) the expiration of the Options. Qualified Person’s employment with the Sony Group Companies terminates as a result of his or her voluntary resignation All Options that were vested immediately prior to the Termination Date will remain outstanding until the earlier to occur of (a) ninety days following the Termination Date and (b) the expiration of the Options. Qualified Person’s employment with the Sony Group Companies terminates as a result of his or her Disability or Retirement All vested Options will remain outstanding until the expiration of the Options. Qualified Person’s employment with the Sony Group Companies is terminated for any reason (other than a termination by the Sony Group Companies for Cause) that is not expressly set forth in this chart All Options that were vested immediately prior to the Termination Date will remain outstanding until the earlier to occur of (a) the first anniversary of the Termination Date and (b) the expiration of the Options. VESTING AND TERMINATION PROVISIONS Set forth below are the provisions concerning the restrictions of vesting and exercise of the Options provided for in Item (1) of Article 5 of the Agreement Concerning Allocation of the Stock Acquisition Rights of Sony Group Corporation for the Fiscal Year 2023 (hereinafter referred to as the “Agreement”).
Sample 1See All (5)
AutoNDA by SimpleDocs
Expiration of Options upon Termination of Employment. Except as expressly set forth in the following chart, all Options, whether or not vested, that are held by a Qualified Person shall terminate and be immediately cancelled as of his or her Termination Date without the payment by the Corporation of any consideration therefore. Reason for Termination of Qualified Person’s Employment with the Sony Group Companies Consequence Qualified Person’s Termination of Employment with the Sony Group Companies is without Cause OR Qualified Person’s Termination of Employment with the Sony Group Companies is as a result of his or her Retirement, death or Disability All vested Options will remain outstanding until the earlier to occur of (a) the first anniversary of the Termination Date and (b) the expiration of the Options. Qualified Person’s Termination of Employment with the Sony Group Companies is as a result of his or her voluntary resignation All vested Options will remain outstanding until the earlier to occur of (a) ninety days following the Termination Date and (b) the expiration of the Options.
Sample 1
Expiration of Options upon Termination of Employment. Except as expressly set forth in the following chart, all Options, whether or not vested, that are held by a Qualified Person shall terminate and be immediately cancelled as of his or her Termination Date without the payment by the Corporation of any consideration therefore. Reason for Termination of Qualified Person’s Employment with the Sony Group Companies Consequence Qualified Person’s Termination of Employment with the Sony Group Companies is without Cause OR Qualified Person’s Termination of Employment with the Sony Group Companies is as a result of his or her Retirement, death or Disability All vested Options will remain outstanding until the earlier to occur of (a) the first anniversary of the Termination Date and (b) the expiration of the Options. Qualified Person’s Termination of Employment with the Sony Group Companies is as a result of his or her voluntary resignation All vested Options will remain outstanding until the earlier to occur of (a) ninety days following the Termination Date and (b) the expiration of the Options. VESTING AND TERMINATION PROVISIONS Set forth below are the provisions concerning the restrictions of vesting and exercise of the Options provided for in Item (1) of Article 5 of the Agreement Concerning Allocation of the Stock Acquisition Rights of Sony Group Corporation for the Fiscal Year 2023 (hereinafter referred to as the “Agreement”).
Sample 1
Expiration of Options upon Termination of Employment. Except as expressly set forth in the following chart, all Options, whether or not vested, that are held by a Qualified Person shall terminate and be immediately cancelled as of his or her Termination Date without the payment by the Corporation of any consideration therefore. Reason for Termination of Qualified Person’s Employment with the Sony Group Consequence Qualified Person’s Termination of Employment with the Sony Group is without Cause OR Qualified Person’s Termination of Employment with the Sony Group is as a result of his or her Retirement, death or Disability All vested Options will remain outstanding until the earlier to occur of (a) the first anniversary of the Termination Date and (b) the expiration of the Options. Qualified Person’s Termination of Employment with the Sony Group is as a result of his or her voluntary resignation All vested Options will remain outstanding until the earlier to occur of (a) ninety days following the Termination Date and (b) the expiration of the Options. (41st Series Participants in China) Exhibit 3 VESTING AND EXERCISE CONDITIONS FOR NON-US PARTICIPANTS Set forth below are the provisions concerning the restrictions of vesting and exercise of the Options provided for in Item (1) of Article 5 of the Agreement Concerning Allocation of the Stock Acquisition Rights of Sony Corporation for the Fiscal Year 2019 (hereinafter referred to as the “Agreement”). Unless otherwise provided for, the terms used in this Exhibit 3 shall have the same meaning as used in the Agreement.
Sample 1

Related to Expiration of Options upon Termination of Employment

  • 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.

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Company Obligations Upon Termination of Employment During the Term of this Agreement, the Company shall have the following obligations upon the termination of the Executive’s employment with the Company as described in this Section 5:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • Term and Termination of Employment (a) This Agreement shall be effective as of the Effective Date.

  • Term; Termination of Employment The term of this Agreement (the “Term”) begins on the Effective Date and will end, along with Executive’s employment with the Company, on the earliest to occur of the following events.

  • Effect of Termination of Employment or Death If the Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company or a Subsidiary for any reason except death, the portion of the SAR which is unexercisable on the date on which the Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the SARs which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of this SAR in accordance with the term for which the SAR was granted, or (ii) three months (one year in the case of termination by reason of Disability of the Employee under the terms of the Plan) from such date, except in the case of an Employee who is an "Approved Retiree" as defined below. If Employee is an Approved Retiree, then the SAR shall expire at the sooner to occur of (i) the expiration of such SAR in accordance with its original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to SARs granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect that portion of the SARs equal to the number of such shares multiplied by the ratio of (a) the number of days between the Grant Date and the retirement date inclusive, over (b) the number of days on and after the Grant Date and before the first anniversary of the Grant Date. In the event of the death of Employee without Approved Retiree status during the three month period following termination of employment or a leave of absence over twelve months (except a leave of absence approved by the Board or Committee), the SAR shall be exercisable by the Employee's personal representative, heirs or legatees to the same extent and during the same period that the Employee could have exercised the SAR if the Employee had not died. In the event of the death of Employee while an employee or while an Approved Retiree, the SAR (if the waiting period has elapsed) shall be exercisable in its entirety by the Employee's personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of the Employee, but in no event after the term for which the SAR was granted. For purposes of this Agreement, an "Approved Retiree" is any SAR holder who (i) terminates employment by reason of a Disability, or (ii) (A) retires from employment with the Company with the specific approval of the Committee on or after such date on which the SAR holder has attained age 55 and completed 10 Years of Service, and (B) has entered into and has not breached an agreement to refrain from Engaging in Competition in form and substance satisfactory to the Committee; and if the Committee subsequently determines, in its sole discretion, that an Approved Retiree has violated the provisions of the Agreement to refrain from Engaging in Competition, or has engaged in willful acts or omissions or acts or omissions of gross negligence that are or potentially are injurious to the Company's operations, financial condition or business reputation, such Approved Retiree shall have ninety (90) days from the date of such finding within which to exercise any SARs or portions thereof which are exercisable on such date, and any SARs or portions thereof which are not exercised within such ninety (90) day period shall expire and any SARs or portion thereof which are not exercisable on such date shall be cancelled on such date.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.