Severance Benefits following a termination for Cause. (A) Base Compensation shall cease on the Termination Date. Executive shall not be entitled to any further payment pursuant to the Short Term Plan or the Long Term Cash Plan following termination. (B) All medical and health benefits shall cease on the Termination Date, except as specified in any then existing Executive Retiree Medical Benefit Plan for which Executive qualifies. (C) Stock options will cease to vest on the Termination Date and will be cancelled thirty (30) days after the Termination Date (unless they are exercised or expire pursuant to their terms before cancellation). RSUs will be cancelled on the Termination Date.
Appears in 5 contracts
Samples: Employment Agreement (Lam Research Corp), Employment Agreement (Lam Research Corp), Employment Agreement (Lam Research Corp)
