Forfeiture upon Termination of Service; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Director’s Termination of Service (as defined below) for any reason (other than due to the Director’s death, Disability or Retirement) during the Restriction Period, all Shares of Restricted Stock still subject to restriction shall be forfeited. Upon the Director’s Termination of Service during the Restriction Period due to the Director’s death, Disability or Retirement, the restrictions applicable to the Restricted Stock shall lapse, and such Restricted Stock shall become free of all restrictions and become fully vested. For purposes of this Agreement, “Retirement” shall mean the Director’s Termination of Service after the attainment of at least four years of service, in each case, only if such Termination of Service is approved as a “Retirement” by the Committee. For purposes of this Agreement, service with the Company shall include service with the Company’s Affiliates and its successors. Nothing in this Agreement or the Plan shall confer upon the Director any right to continue in the service of the Company or any of its Affiliates or
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Samples: Restricted Stock Agreement With Director (Unum Group)
Forfeiture upon Termination of Service; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Director’s Termination of Service (as defined below) for any reason (other than due to the Director’s death, Disability or Retirement) during the Restriction Period, all Shares of Restricted Stock Units still subject to restriction shall be forfeited. Upon the Director’s Termination of Service during the Restriction Period due to the Director’s death, Disability or Retirement, the restrictions applicable to the Restricted Stock Units shall lapse, and such Restricted Stock Units shall become free of all restrictions and become fully vested. For purposes of this Agreement, “Retirement” shall mean the Director’s Termination of Service after the attainment of at least four years of service, in each case, only if such Termination of Service is approved as a “Retirement” by the Committee. For purposes of this Agreement, service with the Company shall include service with the Company’s Affiliates and its successors. Nothing in this Agreement or the Plan shall confer upon the Director any right to continue in the service of the Company or any of its Affiliates oror interfere in any way with the right of the Company or any such Affiliates to terminate the
Appears in 1 contract
Forfeiture upon Termination of Service; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Director’s Termination of Service (as defined below) for any reason (other than due to the Director’s death, Disability or Retirement) during the Restriction Period, all Shares of Restricted Stock still subject to restriction shall be forfeited. Upon the Director’s Termination of Service during the Restriction Period due to the Director’s death, Disability or Retirement, the restrictions applicable to the Restricted Stock shall lapse, and such Restricted Stock shall become free of all restrictions and become fully vested. For purposes of this Agreement, “Retirement” shall mean the Director’s Termination of Service after the attainment of at least four years of continuous service, in each case, only if such Termination of Service is approved as a “Retirement” by the Committee. For purposes of this Agreement, service with the Company shall include service with the Company’s Affiliates and its successors. Nothing in this Agreement or the Plan shall confer upon the Director any right to continue in the service of the Company or any of its Affiliates oror interfere in any way with the right of the Company or any
Appears in 1 contract
Forfeiture upon Termination of Service; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Director’s Termination of Service (as defined below) for any reason (other than due to the Director’s death, Disability or Retirement) during the Restriction Period, all Shares of Restricted Stock Units still subject to restriction shall be forfeited. Upon the Director’s Termination of Service during the Restriction Period due to the Director’s death, Disability or Retirement, the restrictions applicable to the all Restricted Stock Units still subject to restriction shall lapse, and such Restricted Stock Units shall become free of all restrictions and become fully vested. For purposes of this Agreement, “Retirement” shall mean the Director’s Termination of Service after the attainment of at least four years of service[, in each case, only if such Termination of Service is approved as a “Retirement” by the Committee]. For purposes of this Agreement, service with the Company shall include service with the Company’s Affiliates and its successors. Nothing in this Agreement or the Plan shall confer upon the Director any right to continue in the service of the Company or any of its Affiliates oror interfere in any way with the right of the Company or any such Affiliates to terminate the Director’s service at any time. For purposes of this Agreement, “Termination of Service” means the termination of the Director’s service with the Company and any of its Subsidiaries or Affiliates.
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Samples: Restricted Stock Unit Agreement With Director (Unum Group)