Common use of Other Cessation of Service Clause in Contracts

Other Cessation of Service. Except as otherwise provided in Paragraph 3(c) above, Participant shall not vest in any additional Performance Shares following his or her cessation of Service. Accordingly, upon such cessation of Service, the Award will, except to the extent otherwise provided in Paragraph 3(c), be immediately cancelled with respect to those unvested Shares, and the number of restricted stock units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units and those Shares shall cease to be subject to this Award.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apollo Education Group Inc), Restricted Stock Unit Award Agreement (Apollo Education Group Inc)

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Other Cessation of Service. Except as otherwise provided in Paragraph 3(c) above, Participant shall not vest in any additional Performance Shares following his or her cessation of Service. Accordingly, upon such cessation of Service, the Award will, except to the extent otherwise provided in Paragraph 3(c), be immediately cancelled with respect to those any unvested SharesShares at the time subject to this Award, and the number of restricted stock units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units units, and those Shares shall cease to be subject to this Award.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Apollo Group Inc), Restricted Stock Unit Award Agreement (Apollo Group Inc)

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Other Cessation of Service. Except as otherwise provided in Subject to Paragraph 3(c) above, Participant shall not vest in any additional Performance Shares following his or her the earlier of (i) the date the Performance Shares are issuable in accordance with Section 7(b) and (ii) Participant’s cessation of Service. Accordingly, upon such cessation of Servicethereupon, the Award will, except to the extent otherwise provided in Paragraph 3(c), be immediately cancelled with respect to those unvested Shares, and the number of restricted stock units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units and those Shares shall cease to be subject to this Award.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Apollo Education Group Inc)

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