Termination of Employment of Optionee Sample Clauses

Termination of Employment of Optionee. Plan Subject to Terms of Existing Employment Agreement. (a) If during the term of any applicable Employment Agreement between Optionee and the Corporation, Optionee either: (i) terminates his employment with the Corporation for "Good Reason" (as the term "Good Reason" is defined within the then effective Employment Agreement between Optionee and the Corporation); or (ii) is terminated by the Corporation other than "For Cause" (as that term is defined within the then current Employment Agreement between Optionee and the Corporation), (or other than for death or disability as covered in Section 3(b) below); then, and in either of those events, notwithstanding any provision in the Plan to the contrary, upon such termination (x) Optionee shall fully vest in 100% of his Options; and (y) the period in which the Options may be exercised shall be for the entire term of the Options.
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Termination of Employment of Optionee. If the Optionee’s employment terminates, then, except as otherwise specified in the Plan, the non-vested portion of the Option will terminate at the time of such termination of employment and the vested portion of the Option (if any) will be exercisable for 90 days following the date of such termination of employment (1 year in the event of termination due to death or Disability (as defined in the Plan); provided, however, that, if the Optionee’s employment is terminated by the Company or a Subsidiary without Cause (as defined in the Plan), the entire Option, whether or not then vested, will terminate at the time of such termination of employment.
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Termination of Employment of Optionee. (a) In the event of the termination of the employment of the Optionee for any reason (including termination by resignation by the Optionee) other than termination for lawful cause or as specified in section 6 (Death, Retirement or Permanent Disability of Optionee), (i) when the termination of employment of the Optionee occurs before the Option becomes exercisable under section 3(a), the Option shall terminate and be void and the Optionee shall have no rights under this Agreement or under the Plan; and (ii) when the termination of employment of the Optionee occurs after the Option becomes exercisable under section 3(a), the Option may, to the extent only that it is then exercisable under section 3(b), be exercised by the Optionee no later that 30 days after the date of termination of employment and upon expiration of that period the Option shall terminate and be void. For the purposes of sections 7(a)(i) and 7(a)(ii), only, "termination of employment of the Optionee" shall occur when the Optionee ceases to report for work or ceases to perform his or her duties, and for greater certainty shall not be interpreted to mean the end of any notice period or period during which any benefits arising from the Optionee's former employment relationship with the Corporation are found to be extended to or accrue to the Optionee, or to which the Optionee may be or be found to be entitled. (b) Nothing contained in the Plan or this Agreement confers on the Optionee any right to, or guarantee of, continued employment by the Corporation or any Subsidiary or any combination or partnership thereof, or in any way limits the right of the Corporation or a Subsidiary or any combination or partnership thereof to terminate the employment of the Optionee at any time.
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Termination of Employment of Optionee. In the event Optionee’s employment is terminated for Cause, all vested and unvested Options shall expire immediately on the Termination Date. In the event Optionee terminates his or her employment with the Company and all affiliates voluntarily, all vested and unvested Options shall expire immediately on the Termination Date. Subject to Section 3(d), below, in the event Optionee’s employment is terminated by the Company or an affiliate involuntarily (other than for Cause), all vested Options shall expire six (6) months following the Termination Date and any unvested Options shall be eligible for vesting for six (6) months following the Termination Date. Any Option which has not vested during such six (6) months following the Termination Date shall expire.
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Termination of Employment of Optionee. Except as provided in subsections (ii), (iii), (iv) and (v) of this Section 2(c), this Option shall not be exercisable more than three months after the date of the Optionee’s termination and not after the end of the Option period.
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Related to Termination of Employment of Optionee

  • Termination of Employment for Cause If Optionee’s employment with the Bancorp or a subsidiary corporation is terminated for cause, this option shall expire thirty (30) days from the date of such termination. Termination for cause shall include, but not be limited to, termination for malfeasance or gross misfeasance in the performance of duties or conviction of a crime involving moral turpitude, and, in any event, the determination of the Board of Directors with respect thereto shall be final and conclusive.

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Involuntary Termination of Employment If the Executive does not exercise his withdrawal rights pursuant to Subsection 2.2, and the Executive's employment with the Bank is involuntarily terminated for any reason, including a termination due to disability of the Executive but excluding termination for Cause, or termination following a Change in Control within thirty-six (36) months of such Change in Control, within thirty (30) days of such involuntary termination of employment, the Bank shall be required to make an immediate lump sum Contribution to the Executive's Retirement Income Trust Fund in an amount equal to: (i) the full Contribution required for the Plan Year in which such involuntary termination occurs, if not yet made, plus (ii) the present value (computed using a discount rate equal to the Interest Factor) of all remaining Contributions to the Retirement Income Trust Fund; provided however, that, if necessary, an additional amount shall be contributed to the Retirement Income Trust Fund which is sufficient to provide the Executive with after tax benefits (assuming a constant tax rate equal to the rate in effect as of the date of the Executive's termination) beginning at his Benefit Age, equal in amount to that benefit which would have been payable to the Executive if no secular trust had been implemented and the benefit obligation had been accrued under APB Opinion No. 12, as amended by FAS 106.

  • Termination of Employment Agreement As of the Effective Date, the Employment Agreement hereby is terminated in its entirety and shall no longer have any force or effect.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Termination of Employment; Change in Control (i) For purposes of the grant hereunder, any transfer of employment by the Optionee among the Corporation and the Subsidiaries shall not be considered a termination of employment. Except as set forth below in this Section 4(c)(i), if the Optionee's employment with the Corporation shall terminate for any reason, (a) the Option (to the extent then vested) may be exercised at any time within ninety (90) days after such termination (but not beyond the Term of the Option) and (b) the Option, to the extent not then vested, shall immediately expire upon such termination. Notwithstanding the foregoing, (a) if the Optionee's employment with the Corporation is terminated for Cause (as defined in the last Section hereof), the Option, whether or not then vested, shall be automatically terminated as of the date of such termination of employment, (b) if the Optionee's employment terminates by reason of Retirement, the termination of the Optionee's employment by the Company other than for Cause, or the termination of the Optionee's employment by the Optionee for Good Reason (as defined in the last Section hereof), the Option shall remain exercisable for three years from the date of such termination of employment (but not beyond the Term of the Option) and (c) if the Optionee dies or becomes Disabled (A) while employed by the Corporation or (B) within 90 days after the termination of his or her employment (other than a termination described in clause (a) or (b) of this sentence), the Option may be exercised at any time within one year after the Optionee's death or Disability (but not beyond the Term of the Option). (ii) If the Optionee's employment terminates by reason of death, Disability, Retirement, the termination of the Optionee's employment by the Company other than for Cause, or the termination of the Optionee's employment by the Optionee for Good Reason, the Option shall become fully and immediately vested and exercisable. In the event of a Change in Control (as defined in the last Section hereof), the Option shall immediately become fully vested and exercisable.

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. The Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Condition of Employment The Employee acknowledges that his/her employment and the continuance of that employment with the Company is contingent upon his/her agreement to sign and adhere to the provisions of this Agreement. The Employee further acknowledges that the nature of the Company’s business is such that protection of its proprietary and confidential information is critical to its survival and success.

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