Termination of Board Service. Except as otherwise provided in Section 2.2 above, termination of the Award Recipient’s service on the Board for any reason shall automatically result in the termination and forfeiture of all unvested Restricted Stock.
Termination of Board Service. The Option shall terminate on, and may not be exercised after the earlier of (i) the date that is one year after termination of Optionee’s service on the Board for any reason and (ii) the expiration of the Option Period.
Termination of Board Service. The Option shall immediately terminate as to all Shares subject thereto on the date of the termination of Participant’s service on the Board if such Shares have not yet vested pursuant to Paragraph 4 above on or before the date of such termination of Participant’s service on the Board. If the Shares subject to the Option have vested pursuant to Paragraph 4 above on or before the date of the termination of Participant’s service on the Board, then the Option shall terminate on the earlier of (i) the date that is one year after the date of termination of Participant’s service on the Board and (ii) the expiration of the Option Period.
Termination of Board Service. If your service as a member of the Board terminates for any reason, then the portion of the Phantom Unit Award (and any associated DERs) for which the Forfeiture Restrictions have not lapsed as of the date of termination shall become null and void and such Phantom Units shall be forfeited.
Termination of Board Service. Subject to any action by the Committee, if Participant’s service as a Non-Employee Director on the Board is terminated for any reason whatsoever including, without limitation, death, Disability or Retirement, any nonvested shares of the Restricted Stock outstanding at the time of such termination and all rights thereunder shall be forfeited and no further vesting shall occur, and the Company shall have the right to repurchase or recover such shares for the amount of any cash paid therefor. Upon termination of service as a Non-Employee Director on the Company’s Board as a result of the death, Disability or Retirement of Participant, the Committee, in its discretion, may provide that all or a portion of any nonvested shares of the Restricted Stock subject to this Restricted Stock Agreement shall become vested; provided, however, that no acceleration of vesting and waiver of restrictions will be effective prior to the date of the Committee’s written determination.
Termination of Board Service. The following provisions shall govern the exercise of any options held by the Optionee at the time the Optionee ceases to serve as a Board member:
Termination of Board Service. The following provisions shall govern the exercise of any options held by the Optionee at the time the Optionee ceases to serve as a Board member:
(i) The Optionee (or, in the event of the Optionee's death, the personal representative of the Optionee's estate or the person or persons to whom the option is transferred pursuant to the Optionee's will or in accordance with the laws of descent and distribution) shall have a twelve (12)-month period following the date of such cessation of Board service in which to exercise each such option.
(ii) During the twelve (12)-month post-service exercise period, the option may not be exercised in the aggregate for more than the number of vested shares of Common Stock for which the option is exercisable at the time of the Optionee's cessation of Board service.
(iii) Should the Optionee cease to serve as a Board member by reason of death or Permanent Disability, then all shares at the time subject to the option shall immediately vest so that such option may, during the twelve (12)-month exercise period following such cessation of Board service, be exercised for all or any portion of those shares as fully-vested shares of Common Stock.
(iv) In no event shall the option remain exercisable after the expiration of the option term. Upon the expiration of the twelve (12)-month post-service exercise period or (if earlier) upon the expiration of the option term, the option shall terminate and cease to be outstanding for any vested shares for which the option has not been exercised. However, the option shall, immediately upon the Optionee's cessation of Board service for any reason other than death or Permanent Disability, terminate and cease to be outstanding to the extent the option is not otherwise at that time exercisable for vested shares.
Termination of Board Service. Except as provided in this paragraph 3 and in paragraph 8 below or as otherwise may be determined by the Board, if the Director ceases to be a director of the Corporation for any reason, all Shares which at the time of such termination are subject to the restrictions imposed by paragraph 2 above shall upon such termination of service be forfeited and returned to the Corporation. Except as otherwise specifically determined by the Corporate Governance and Nominating Committee in its absolute discretion on a case by case basis, if the Director resigns or declines to stand for re-election as a director of the Corporation on or after attaining the age of 65 years or if the Director ceases to be a director of the Corporation or any of its Affiliates by reason of death or total or partial disability, full ownership of a portion of the Shares will occur to the extent not previously earned, upon lapse of the Restriction Period as set forth in paragraph 2 and dividends will be paid through such period, in each case on a pro-rata basis, calculated based on the percentage of time such Director served on the Board of Directors of the Corporation from the Commencement Date through the date the Director ceases to be a director of the Corporation..
Termination of Board Service. If, your service on the Board is terminated other than by reason of your voluntary resignation from the Board (e.g., you are not renominated for Board service at the annual meeting of the Company’s stockholders in 2024), the Company will provide you with the following payments and benefits, as applicable and otherwise in accordance with the Company’s standard payroll practices:
Termination of Board Service. Dehaemers’s service as a member of the Board shall automatically terminate on December 31, 2020. Notwithstanding the foregoing, Dehaemers’s service as a member of the Board shall automatically terminate prior to December 31, 2020, upon Dehaemers’s death, and may also be terminated:
(a) by GP (sitting without Dehaemers or his designees) as the result of Dehaemers’s mental or physical incapacity or inability to perform the essential functions of his Board service for a consecutive period of 90 days or a non-consecutive period of 120 days during any 12-month period, as reasonably determined by the Board after consultation with an independent physician selected by the Board;
(b) by the Board’s determination (sitting without Dehaemers or his designees) that a Cause event exists;
(c) due to Dehaemers’s resignation; or
(d) by the member of the GP with or without Cause in accordance with the Director Designation Agreement.
