Termination as a Director. If the Director for any reason ceases to be a member of the Board of Directors of the Corporation (such event being hereinafter referred to as a 'Termination'), then:
(a) To the extent this Option shall have become exercisable on or prior to the date of Termination, it shall remain exercisable until the Expiration Date; and
(b) Any portion of this Option that had not become exercisable on or prior to the date of Termination shall immediately terminate and shall not thereafter become exercisable. This Option does not confer upon the Director any right with respect to continuance as a member of the Board of Directors of the Corporation.
Termination as a Director. (a) If the Optionee shall cease to serve as a director of the Company for any reason whatsoever (a "Termination"), the Option, to the extent it is not exercisable pursuant to Section 4.1 hereof on the date of such Termination, shall terminate and be of no further force and effect from and after the date of such Termination.
(b) If any portion of the Option is exercisable pursuant to Section 4.1 hereof on the date of the Optionee's Termination, (i) then the Optionee may exercise the Option, to the extent the Option was exercisable on the date of the Optionee's Termination, at any time within 30 days after the date of the Termination, and (ii) the Company agrees to make available the most recent audited financial statements of the Company for review by the Terminated Optionee at the principal offices of the Company during such 30-day period. The Option shall terminate and be of no further force and effect to the extent not exercised during such 30-day period.
Termination as a Director. In the event that during the term of the Restricted Period the Participant’s status as a non-employee Director of the Company terminates:
(a) for any reason other than death, Disability or Retirement, the Participant shall forfeit any and all Restricted Stock Awards whose Restrictions have not lapsed; or,
(b) by reason of death or Disability, the Restrictions on any and all Awards shall lapse on the date of such termination; or,
(c) by reason of Retirement, all Awards shall continue to vest as if Retirement had not occurred until such time as the Restrictions lapse; provided, however, that if the retired Participant, prior to the completion of any or all Restricted Periods, accepts employment or provides services to any organization other than the Company that is engaged primarily in the ownership and/or management or brokerage of shopping centers in The New York – Northern New Jersey – Long Island, NY-NJ-CT-PA, Metropolitan Statistical Area as defined by the Bureau of Labor Statistics, the Participant will forfeit any and all Restricted Stock Awards whose Restrictions have not lapsed.
Termination as a Director. (a) If the Optionee's service as a director shall cease by reason of Normal Termination, the Options shall remain exercisable until the earlier of the Termination Date or the date that is three months after the date of such Normal Termination to the extent the Options were exercisable at the time of such Normal Termination. For purposes of this Agreement, the term "Normal Termination" shall mean termination of Optionee's service as a director of the Company (i) on account of Disability; (ii) with the written approval of the Board of Directors of the Company (the "Board"); or (iii) by the Board without Cause. For purposes of the preceding sentence, (I) "Disability" shall mean the complete and permanent inability by reason of illness or accident to perform the duties of a member of the Board, and (II) "Cause" shall mean the Board having cause to terminate the Optionee's service as a director upon (A) the determination by the Board that the Optionee has ceased to perform his duties to the Company (other than as a result of his incapacity due to physical or mental illness or injury), which failure amounts to an intentional and extended neglect of his duties to the Company, (B) the Board's determination that the Optionee has engaged or is about to engage in conduct materially injurious to the Company or a subsidiary thereof, or (C) the Optionee having been convicted of a felony.
Termination as a Director. Any termination of Mr. Xxxx'x xxxtus as an employee of the Company will also automatically terminate Mr. Xxxx'x xxxtus as an officer and as a director serving on the Board, without any further action having to be taken by any person or entity. However, Mr. Xxxx xxxees to provide such written resignations therefrom as the Company may reasonably request.
Termination as a Director. In the event that your service as a Director is terminated for any reason other than those reasons set forth in Paragraph 3(b), all of the unvested Shares of Restricted Stock you hold at the time your service as a Director terminates shall be forfeited to the Company without payment by the Company of any consideration for the Restricted Stock. If any Restricted Stock is forfeited, you hereby authorize the Company to cancel the Restricted Stock and any certificates therefore and irrevocably appoint the Company as your attorney-in-fact for this purpose.
Termination as a Director. If the Optionee ceases to be a director, unless such cessation occurs due to death or disability, then the Option shall terminate on the date thirty days after the date the Optionee ceases to be a director.
Termination as a Director. In the event that during the term of the Restricted Period the Participant’s status as a non-employee Director of the Company terminates:
(a) for any reason other than death, Disability or Retirement, the Participant shall forfeit any and all Restricted Stock Awards whose Restrictions have not lapsed; or,
(b) by reason of death or Disability, the Restrictions on any and all Awards shall lapse on the date of such termination; or,
(c) by reason of Retirement, all Awards shall continue to vest as if Retirement had not occurred until such time as the Restrictions lapse; provided, however, that (1) if Retirement occurs prior to the fifth anniversary of the date of this Award, then the total number of shares subject to this Award shall be reduced to an amount equal to the total number of shares subject to this Award multiplied by a fraction, the numerator of which shall be equal to the number of months or partial months that have elapsed between the date of the Award and the date of Retirement and the denominator of which shall be sixty (60), and (2) if the retired Participant, prior to the completion of any or all Restricted Periods, accepts employment or provides services to any organization other than the Company that is engaged primarily in the ownership and/or management or brokerage of shopping centers in The New York - Northern New Jersey - Long Island, NY-NJ-CT-PA, Metropolitan Statistical Area as defined by the Bureau of Labor Statistics, the Participant will forfeit any and all Restricted Stock Awards whose Restrictions have not lapsed.
Termination as a Director. Except as may otherwise be provided by the Committee, if the Optionee ceases to be a Director, the period within which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such period, shall thereafter terminate):
Termination as a Director. The Company and Xxxxx acknowledge and agree that, effective as of the Board End Date, Xxxxx shall no longer be a member of the Board or its Chairman and shall be deemed to have resigned from all officer and director positions set forth on Exhibit 1 hereto, and the Company shall accept such resignations. Xxxxx shall continue to serve as the Company’s designee on the Board of Directors of Linkem S.p.A. (“Linkem”) following the Board End Date, although the Company shall retain the right, in its sole discretion, to replace Xxxxx as the Company’s designee.
