Common use of Statutory Leave of Absence Clause in Contracts

Statutory Leave of Absence. The Award will continue to vest and Participant may continue to exercise vested Option shares during an approved leave of absence under the Family Medical Leave Act of 1993, military leave, or other statutory leave of absence (but not later than the Option expiration date), provided that such leave is approved by management of Participant's business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested restricted or deferred stock and unexercised Option shares will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of paragraphs (j), (k), or (l)], then such applicable paragraph of this Section 5 will apply. [For purposes of paragraphs (j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant's employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Equity Award Agreement (Citigroup Inc)

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Statutory Leave of Absence. The Award will continue to vest and Participant may continue to exercise vested Option shares during an approved leave of absence under the Family Medical Leave Act of 1993, military leave, or other statutory leave of absence (but not later than the Option expiration date), provided ) during a leave of absence that such leave is approved by management of Participant's business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested restricted or deferred stock and unexercised Option shares will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of paragraphs (jSection 5(j), (k), or (l)], then such applicable paragraph provisions of this Section 5 will apply. [For purposes of paragraphs (jSection 5(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant's employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Equity Award Agreement (Citigroup Inc)

Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares during an approved leave of absence under the Family Medical Leave Act of 1993, military leave, or other statutory leave of absence (but not later than the Option expiration date), provided ] during a leave of absence that such leave is approved by management of Participant's ’s business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested restricted or deferred stock [and unexercised Option shares shares][deferred cash award] will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of paragraphs (jSection 6(j), (k), or (l)], then such applicable paragraph provisions of this Section 5 6 will apply. [For purposes of paragraphs (jSection 6(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant's ’s employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Equity or Deferred Cash Award Agreement (Citigroup Inc)

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Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares during an approved leave of absence under the Family Medical Leave Act of 1993, military leave, or other statutory leave of absence (but not later than the Option expiration date), provided ] during a leave of absence that such leave is approved by management of Participant's ’s business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and unexercised [unvested][unexercised] Option shares shares]][deferred cash award] will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of paragraphs (jSection 6(j), (k), or (l)], then such applicable paragraph provisions of this Section 5 6 will apply. [For purposes of paragraphs (jSection 6(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant's ’s employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Equity or Deferred Cash Award Agreement (Citigroup Inc)

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