Termination of Employment; Forfeiture. (a) Upon termination of the Executive’s employment with the Company or any subsidiary of the Company (or the successor of any such company) as a result of the retirement of the Executive, the shares of Restricted Stock, after such retirement, shall continue to be subject to the restrictions set forth herein, which restrictions shall lapse and such shares shall vest in the Executive in accordance with the provisions of Section 3 hereof as if the Executive had remained employed by the Company. Retirement of the Executive shall mean (i) the termination of employment with the Company on or after the last day the month in which the Executive attains age 65 and has, as of such date of termination, been continuously employed by the Company for at least two years or (ii) otherwise as the Committee shall determine, in its sole discretion.
(b) Upon termination of the Executive’s employment with the Company or any subsidiary of the Company (or the successor of any such company) as a result of the death of the Executive, the Service-Based Conditions on all shares of Restricted Stock shall be deemed satisfied, and the restrictions on such shares shall lapse and such shares shall vest in the Executive’s legal representative, beneficiary or heir only if, and immediately after, the Company achieves one of the Performance-Based Conditions set forth in Section 3 hereof.
(c) Upon termination of the Executive’s employment with the Company or any subsidiary of the Company (or the successor of any such company) as a result of the disability of the Executive, the shares of Restricted Stock, after such disability, shall continue to be subject to the restrictions set forth herein, which restrictions shall lapse and such shares shall vest in the Executive in accordance with the provisions of Section 3 hereof as if the Executive had remained employed by the Company; provided that if the Executive shall be disabled for a continuous period of 18 months, then the Service-Based Conditions on all shares of Restricted Stock shall be deemed satisfied, and the restrictions on such shares shall lapse and such shares shall vest in the Executive if and only if prior to or during such disability the Company shall achieve one of the Performance-Based Conditions set forth in Section 3 hereof, which lapse of restrictions and vesting shall occur on the later of (i) the last day of such 18 months of continuous disability or (ii) the date the Company shall achieve one of such Performance-Based Condit...
Termination of Employment; Forfeiture. Upon the termination of Participant’s continuous employment with the Company or its Subsidiaries for any reason, any Restricted Stock Units that have not vested or that are not entitled to continued vesting in accordance with Paragraph 3 and the Notice of Restricted Stock Unit Award shall immediately be forfeited. Upon forfeiture, Participant shall have no further rights with respect to such Restricted Stock Units and related Dividend Equivalent Amounts.
Termination of Employment; Forfeiture. Upon termination of the Grantee's employment with the Company or any subsidiary of the Company (or the successor of any such company) for any reason, all shares of Restricted Stock as to which the restrictions thereon have not previously lapsed shall be immediately forfeited to the Company; subject, however, to the provisions of any employment agreement between the Grantee and the Company or any Subsidiary.
Termination of Employment; Forfeiture. Upon termination of the Grantee’s employment with the Company or any subsidiary of the Company (or the successor of any such company) for any reason, all Restricted Stock Units as to which the restrictions thereon have not previously lapsed shall be immediately forfeited to the Company; subject, however, to the provisions of the Employment Agreement. Notwithstanding the provisions of the Employment Agreement, if (a) a Change in Control has not occurred and (b) the Grantee (i) is terminated without Cause (as defined in the Employment Agreement) or (ii) resigns for Good Reason (as defined in the Employment Agreement) prior to the satisfaction of the Performance Condition, then the restrictions on the Restricted Stock Units shall not lapse unless and until the Performance Condition is satisfied.
Termination of Employment; Forfeiture. Section 4 of the Award Agreement is hereby deleted in its entirety and replaced with the following:
Termination of Employment; Forfeiture. (i) Upon termination of an Executive’s Continuous Employment as a result of the death of such Executive, the conditions in Section 5.10(a) shall be deemed satisfied with respect to the Executive’s Management Incentive Units, and the restrictions on such units shall lapse and such units shall vest in the Executive’s legal representative, beneficiary or heir.
(ii) Upon termination of an Executive’s Continuous Employment as a result of the disability of such Executive, the Management Incentive Units held by such Executive shall continue to be subject to the restrictions set forth herein, which restrictions shall lapse and such units shall vest in the Executive. The disability of an Executive shall mean (1) the total disability of the Executive as determined in accordance with Parent’s long-term disability insurance benefit plan or (2) the total and permanent disability as determined by the Board of Directors of the General Partner in its sole discretion.
(iii) Upon termination of an Executive’s Continuous Employment for any reason other than as described in subsections (i) and (ii) above, all Management Incentive Units held by such Executive as to which the restrictions thereon shall not have previously lapsed shall be immediately forfeited to the Partnership.
Termination of Employment; Forfeiture. Upon the termination of Participant’s continuous employment with the Company or its Subsidiaries for any reason, any shares of Restricted Stock that have not vested in accordance with Paragraph 4 and the Notice of Restricted Stock Grant shall immediately be forfeited. Any shares of Restricted Stock forfeited pursuant to this Section 5 shall promptly be transferred to the Company without the payment of any consideration therefor, and Participant, or Participant’s attorney-in-fact, shall execute all documents and take all actions as shall be necessary or desirable to promptly effectuate such transfer. Upon forfeiture of shares of Restricted Stock, Participant shall have no further rights with respect to such shares, including but not limited to any right to vote the shares or to receive dividends or distributions thereon.
Termination of Employment; Forfeiture. Section 5(a) notwithstanding, if the Grantee’s employment is involuntarily terminated by the Company or its successor for any reason other than Cause (as defined below) or the Grantee terminates employment for Good Reason (as defined below) after the date of the Change in Control but prior to the Vesting Date, then the aggregate Final Value of the Performance Units determined under Section 5(a) will be paid to the Grantee in a lump sum cash payment within 30 days following the Grantee’s termination date (subject to Section 6(b), if applicable). At the time of payment the Grantee will receive an additional amount in cash interest on such cash amount for the period beginning on the date of the Change in Control and ending on the Grantee’s termination date based on the interest rate. If
Termination of Employment; Forfeiture. In the event that Barry's employment is terminated prior to the vesting of any of such DSUs, unless such termination is a Constructive Termination or a termination without Cause as such terms are defined in paragraph 7 below (in which case the vesting shall be accelerated as set forth therein), all unvested DSUs as of the date of such termination shall be forfeited immediately by Barry.
Termination of Employment; Forfeiture. In the event that Payner's employment is terminated prior to the vesting of any of such DSUs, unless such termination is a Constructive Termination or a termination without Cause as such terms are defined in paragraph 7 below (in which case the vesting shall be accelerated as set forth therein), all unvested DSUs as of the date of such termination shall be forfeited immediately by Payner.
