Termination as Director. If the Optionee ceases to be a Director of the Company, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below.
Termination as Director. Subject to Section 4 below, if the Optionee ceases to be a Director of the Company for any reason, this Stock Option shall no longer vest or become exercisable with respect to any Option Shares not vested.
Termination as Director. If the Optionee ceases to be a Director for any reason including by reason of the Optionee’s death, any portion of this Share Option outstanding on such date may be exercised, to the extent exercisable on the date the Optionee ceased to be a Director, for a period of three years after the date the Optionee ceased to be a Director or until the Expiration Date, if earlier. Any portion of this Share Option that is not exercisable on the date the Optionee ceases to be a Director shall terminate immediately and be of no further force or effect.
Termination as Director. If the Grantee ceases to be a Director of the Company prior to the vesting or termination of this Award, the following shall occur:
Termination as Director. If the Optionee ceases to be a member of the Board for any reason, any portion of this Share Option outstanding on such date may be exercised, to the extent exercisable on the date the Optionee ceased to be a member of the Board (including any acceleration of vesting under Paragraph 1), for a period of three years after the date the Optionee ceased to be a member of the Board or until the Expiration Date, if earlier. Any portion of this Share Option that is not exercisable on the date the Optionee ceases to be a member of the Board shall terminate immediately and be of no further force or effect.
Termination as Director. If, during any period of time in which any of the Director’s shares are unvested, the Director ceases to be a member of the Board of Directors of the Company or an Affiliate thereof for any reason, the Director shall be vested only as to that percentage of shares of Restricted Stock which is vested at the time of his termination as a member of the Board of Directors. The Director shall forfeit the right to the shares of Restricted Stock which are not yet vested. Notwithstanding the foregoing, the Company reserves the right, in its sole discretion, to determine that all or some of the shares of Restricted Stock which would otherwise be forfeited upon the Director’s termination as a member of the Board of Directors of the Company or an Affiliate shall be 100% vested and transferable depending upon the circumstances relating to such termination.
Termination as Director. The Participant’s termination as a Director of the Corporation for whatever reason.
Termination as Director. If you separate from service as a director before March 15, 2010, your Award will be treated as follows.
4.1 If your separation from service is due to your death, disability (as defined pursuant to Section 409A of the Internal Revenue Code and the regulations thereunder), failure to be re-elected by shareholders as a director, or resignation following a Change in Control event or other restructuring of Boise (as determined in the sole discretion of Boise’s board of directors as constituted immediately prior to the Change in Control or restructuring event), the restrictions on all RSUs will lapse and the Award will vest in full and become payable on the day after the date of your death, disability, or other separation from service.
4.2 If your separation from service is due to any reason other than those stated in Section 4.1, a pro rata portion of the Award will vest and become payable on the day after the date of your separation from service. The pro rata portion will be calculated based on the number of days of your service as a director from the Award Date through the date of your termination of service as a director, divided by 365 (the number of days in the Award Period). Any portion of the Award remaining unvested after the pro rata calculation will be forfeited immediately following your separation from service.
4.3 For purposes of this Award, a separation from service will not be deemed to have occurred if you continue to provide services to Boise or a subsidiary as an independent contractor or consultant or in any other capacity after you cease being a director. In this case, your separation from service will be deemed to occur on the date your service contract expires without intent to renew or to provide further services, or, if no contract exists, on the date you cease providing all services to Boise and its subsidiaries. The determination of whether and when a separation from service has occurred will be made based on specific facts and circumstances and will comply with the requirements of Section 409A of the Internal Revenue Code and the regulations thereunder.
Termination as Director. If Optionee's service as a member of the Board terminates for any reason, whether such termination is due to Optionee's resignation, removal, failure to be reelected upon the expiration of his or her term, or otherwise, then:
(1) If such termination is due to Optionee's resignation, the Option, and all rights of the Optionee with respect thereto, shall terminate on the Expiration Date or, if earlier, the date of the Optionee's resignation as a member of the Board.
(2) If such termination is due to reasons other than Optionee's resignation, the Option, and all rights of the Optionee with respect thereto, shall terminate on the Expiration Date or, if earlier, 90 days following the date Optionee ceases to be a member of the Board.
Termination as Director. In the event that a Director's service as a director shall terminate for any reason, including disability or retirement (but other than by reason of death or for cause), this option, provided that it is exercisable at the time of such termination, shall terminate, unless earlier terminated in accordance with its terms, on the date that is eighteen (18) months after the date of such termination of service; provided, however, that if service as a Director shall terminate for cause, this option shall, to the extent not therefore exercised, terminate forthwith. In the event of the death of the Director, this option (to the extent it is exercisable) may, unless earlier terminated in accordance with its terms, be exercised by the Director or by the Director's estate or by a person who acquired the right to exercise this option by bequest or inheritance or otherwise by reason of the death of the Directors, at any time within eighteen (18) months after the date of death of the Director.
