Forfeiture Upon Cessation of Employment Sample Clauses

Forfeiture Upon Cessation of Employment. In the event the Grantee ceases to be employed by the Company or any of its Subsidiaries prior to Vesting, the Grantee shall forfeit to the Company, without compensation or any other consideration, all RSUs that are granted pursuant to this Agreement.
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Forfeiture Upon Cessation of Employment. If the Participant’s employment or service with the Company or its subsidiaries is terminated, or if Participant voluntarily terminates his employment or service with the Company or its subsidiaries, then any portion of an Option that has not yet vested shall terminate upon the date of such termination of employment or service, and neither the Participant nor any of his successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in the unvested portion of such Option; provided that if the Participant’s employment or service with the Company is terminated by reason of death or Disability, then any unvested portion of the Option shall automatically vest upon termination of employment or service.
Sample 1
Forfeiture Upon Cessation of Employment. All Unvested Bonus Shares shall automatically revert back to the Company immediately upon cessation of Employee's employment by the Company for any reason. Executive shall be entitled to payment of the Award Date Value of all such Unvested Bonus Shares which may be accomplished by appropriate reduction in the principal of the Promissory Note. The parties hereto acknowledge that all Unvested Bonus Shares shall become Vested Bonus Shares upon a Change of Control as described on SCHEDULE I hereto, provided Executive is employed by the Company at such time.
Sample 1
Forfeiture Upon Cessation of Employment. If Participant shall, at any time during the Performance Period, cease to be an employee of the Company or a Subsidiary for any reason whatsoever other than Participant's death, total disability, or as otherwise provided for under Section 6(d) of that certain Employment Agreement dated as of June 1, 2002 between Participant and the Company ("Employment Agreement"), all Restricted Shares shall immediately be forfeited by Participant. Upon such forfeiture, Participant shall have no further right, title or interest in or to the Restricted Shares so forfeited (including any and all dividends on such forfeited Restricted Shares which have been paid in stock and any and all dividends thereon which have been paid in cash and reinvested in accordance with Section 9 hereof), and the forfeited Restricted Shares shall become available for subsequent Awards under the Plan.
Sample 1
Forfeiture Upon Cessation of Employment. In the event the Grantee ceases to be employed by the Company or any of its Subsidiaries prior to the third anniversary of the Grant Date or, if earlier, the Liquidity Event, the Grantee shall forfeit to the Company, without compensation or any other consideration, all RSUs that are granted pursuant to this Agreement.
Sample 1

Related to Forfeiture Upon Cessation of Employment

  • Cessation of Employment In the event Executive shall cease to be employed by the Company for any reason, then Executive's compensation and benefits shall cease on the date of such event, except as otherwise provided herein or in any applicable employee benefit plan or program.

  • Involuntary Termination of Employment If the Executive exercises his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason including termination due to disability of the Executive, but excluding termination for Cause, or termination following a Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to record a final Phantom Contribution in an amount equal to: (i) the full Phantom Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Phantom Contributions.

  • 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:

  • Termination of Employees Employment For purposes of this Section 3.1(d), the term “pro rata portion” shall mean, with respect to any award of time-vested RSUs, time- vested RSAs or time-vested options, a percentage, when expressed as a fraction, the numerator of which is the number of days from and after the date that begins the vesting period applicable to such installment of RSUs, RSAs or options during which Employee was an employee of the Company, and the denominator of which is the total number of days in the vesting period(s) applicable to such installment of RSUs, RSAs or options assuming Employee had been an employee throughout such vesting period and no event or other matter occurred that would accelerate the vesting of such award. Any options that vest pursuant to this Section 3.1(d) shall remain exercisable through the post-termination exercise period set forth in or contemplated by the agreement evidencing the option. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.3 hereof, then Employee shall not be entitled to any payment or benefit under this Section 3.1. Notwithstanding anything to the contrary in this Agreement, if any payments, awards or benefits are owed or required to be settled or delivered to Employee under Section 3.1(c) and (d) and Employee has attained Retirement Eligibility, then Employee shall be entitled to the greater of the payment or benefit under Section 3.1(c) and (d), determined on an aggregate basis with respect to the Eligible RSAs, on the one hand, or Section 3.2, determined on an aggregate basis with respect to the Eligible RSAs, on the other hand. Solely for purposes of this paragraph, the determination of the Eligible RSAs shall assume that the date of Retirement Termination of Employment shall be deemed to have occurred as of the date of the termination of his or her employment regardless of whether such termination occurred due to a Termination of Employee’s Employment or a Retirement Termination of Employment. 3.2

  • Termination of Employment Due to Retirement In the event of the Retirement of the Participant after nine months of the Performance Cycle have elapsed, the Participant’s Performance Units shall be settled based on the performance for the Performance Cycle and payable on a pro-rata basis as determined and certified by the Board after the close of the Performance Cycle as described below. Subject to the negative discretion of the Board, the Participant will be entitled to receive a payment equal to the product of (i) the pro-rata vesting percentage equal to the days of Participant’s Employment during the Performance Cycle divided by the total days in the Performance Cycle and (ii) the Payout Value. Such payment shall be made as soon as administratively feasible following the Board’s determination under Paragraph 2 and, in all cases, the payment shall be made within the first calendar year following the end of the Performance Cycle. If, in accordance with the Board’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Company under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the Performance Cycle shall have no effect on this Paragraph 6.

  • Termination of Employment The Executive’s employment hereunder shall terminate under the following circumstances:

  • 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:

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. A termination of employment due to the Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Termination of Employment Due to Disability If the Executive’s employment is terminated due to Disability during the Term of Employment, either by the Company or by the Executive, the Term of Employment shall end as of the date of the termination of the Executive’s employment and the Executive shall be entitled to the following:

  • Termination of Employment Due to Death or Disability 4.1. In the event of your termination of employment due to death or permanent disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)) during the Initial Term or the Additional Term, on the date of such termination each outstanding and unvested equity award held by you that, pursuant to its terms, vests solely based upon providing continued service to Skyworks, including, without limitation, stock options, restricted stock awards (including restricted stock unit awards), and performance-based equity awards that are earned but unissued, shall automatically become vested, exercisable, and issuable, and any forfeiture restrictions thereon shall immediately lapse, as applicable, in each case, with respect to one-hundred percent (100%) of that number of then-unvested shares underlying such equity award.

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