Common use of Stock Grants Clause in Contracts

Stock Grants. (a) If the Executive terminates employment with the Corporation for any reason prior to date on which his right to any Shares granted to him under Paragraph 4(b) of this Agreement becomes fully vested and nonforfeitable, the nonvested Shares shall be forfeited on the date of his termination. Notwithstanding the foregoing, if the Executive dies or becomes totally and permanently disabled (as determined by the Chairman and Chief Executive Officer) while employed by the Corporation, the Executive's rights to any Shares granted under this Agreement shall automatically become fully vested on the date he dies or becomes disabled. For purposes of this Paragraph, the Executive is "disabled" if he is incapable of performing his principal duties for the duration of this Agreement due to a physical or mental condition.

Stock Grants. (a) If the Executive terminates employment with the Corporation for any reason prior to date on which his right to any Shares granted to him under Paragraph 4(b) of this Agreement becomes fully vested and nonforfeitable, the nonvested Shares shall be forfeited on the date of his termination. Notwithstanding the foregoing, if the Executive dies or becomes totally and permanently disabled (as determined by the Chairman and Chief Executive OfficerCorporation's Board of Directors) while employed by the Corporation, the Executive's rights to any Shares granted under this Agreement shall automatically become fully vested on the date he dies or becomes disabled. For purposes of this Paragraph, the Executive is "disabled" if he is incapable of performing his principal duties for the duration of this Agreement due to a physical or mental condition.

Stock Grants. (a) If the Executive terminates employment with the Corporation for any reason prior to date on which his right to any Shares granted to him under Paragraph 4(b) of this Agreement becomes fully vested and nonforfeitable, the nonvested Shares shall be forfeited on the date of his termination. Notwithstanding the foregoing, if the Executive dies or becomes totally and permanently disabled (as determined by the Chairman and Chief Executive OfficerCorporation’s Board of Directors) while employed by the Corporation, the Executive's ’s rights to any Shares granted under this Agreement shall automatically become fully vested on the date he dies or becomes disabled. For purposes of this Paragraph, the Executive is "“disabled" ” if he is incapable of performing his principal duties for the duration of this Agreement due to a physical or mental condition.