Termination of Employee Status. If Grantee ceases to be an employee of the Company:
Termination of Employee Status. (a) An employee who is absent from employment because of illness or injury not arising out of employment shall retain status as an employee for a period of six (6) months or accumulated sick leave, whichever is greater. Status as an employee may be extended for further periods at the discretion of the Superintendent of Schools upon written notice to the Union prior to the expiration of said six (6) month period. Any extension of the time shall be for a stated period and any subsequent extension must be granted prior to the expiration of such stated period and may be made upon written notice to the Union.
Termination of Employee Status. (a) Should the Grantee’s service as a employee of the Company terminate for any reason (other than Disability, Death or cause), this Option may be exercised (to the extent such Option was exercisable at the time of termination) for a period of 90 days from the date of such termination or until the Expiration Date, whichever period is shorter.
Termination of Employee Status. The effect on your New Options of the termination of your status as an employee of Redback or one of our subsidiaries or affiliates will be set forth in your new option agreement. Generally, your options will expire following the termination of your employment, and you will have the opportunity to exercise the vested portion of your option within the time frame permitted by your stock option agreement, but in no event later than the expiration of the maximum term of your option (which, for your New Option, will be five (5) years). If your termination of employment is due to any reason other than death or your total and permanent disability, the time period in which you may exercise your options, to the extent that they were exercisable immediately before such termination, is generally a period of three (3) months from the date of termination. In the event that the termination of your employment is by reason of death, your options will generally become fully exercisable and your executors, ----------------- administrators, legatees or distributees of your estate, may exercise any option held by you at the date of your employment termination within the time frame permitted by your stock option agreement, which is generally a period of twelve (12) months after your death. In the event that the termination of your employment is by reason of your permanent or total disability, the vesting of your options will generally accelerate by a period of twelve (12) months and you may exercise any options held by you at the date of your employment termination, to the extent exercisable with the additional twelve (12) months vesting credit, within the time frame permitted by your stock option agreement, which is generally a period of six (6) months following such termination. Please note that if your Old Options were subject to any special acceleration provisions included in your old option agreement or in another agreement with Redback, your New Options will be subject to the same provisions, and will be set forth in your new option agreement. Generally, except as described above, if you cease to be an employee of Redback or one of our subsidiaries or affiliates, all unvested portions of your -------- New Options will be cancelled and you will lose all rights with respect to them. This applies even if your Old Option would have been fully vested. As a result, you may not have the opportunity to exercise as much of your New Options as you would have been able to exercise ...
Termination of Employee Status. (a) An Employee who is absent from his/her employment because of illness or injury not arising out of his/her employment shall retain his/her status as an Employee for a period of six (6) months in addition to his/her accumulated sick leave. His/her status as an Employee may be extended for further periods at the discretion of the Employer upon written notice to the Union prior to the expiration of said six (6)-month period. Any extension of the time shall be for a stated period and any subsequent extension must be granted prior to the expiration of such stated period and may be made upon written notice to the Union.
Termination of Employee Status
