Common use of Prescribed circumstances Clause in Contracts

Prescribed circumstances. Where a Participant who holds Options ceases employment, office or engagement with any member of the Group: (a) due to the Participant’s death, physical or mental incapacity or retirement; or (b) in any other circumstances determined by the Board in its discretion, the Board may in its discretion determine the manner in which the unvested Options held by the Participant will be dealt with, including but not limited to determining that: (c) some or all Options to continue to be held by the Participant, and be subject to the existing Performance Hurdles and/or Vesting Conditions;