TERMINATION OF EMPLOYMENT OR DIRECTORSHIP Sample Clauses

TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. If for any reason other than permanent and total disability (as defined below) or death an Optionee ceases to be employed by or to be a director of the Company Options held at the date of such termination (to the extent then exercisable) may be exercised, in whole or in part, at any time within three (3) months after the date of such termination or such lesser period specified in the Option Agreement (but in no event after the expiration date of the Option).
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. The Certificate for the Option, SAR, or Stock Grant may provide for the exercise or payment of the underlying Common Stock upon the employee’s or director’s death or disability. What if I die, become disabled, resign, retire or am terminated as an employee or director of the Company? The Certificate, pursuant to which the award is granted, may specify that an award is accelerated or forfeited or left unchanged if the participant dies, is disabled, resigns, retires or is terminated.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. In the event the Option becomes exercisable, it shall remain exercisable until the Expiration Date notwithstanding any subsequent termination of the Optionee's employment or directorship with the Company or any subsidiary for any reason whatsoever.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. Except as provided below, if Optionee ceases to be employed by the Company or its Affiliates or ceases to serve on the Board of Directors of the Company for any reason other than death or disability, any Option which is exercisable on the date of such termination of employment or cessation of service on the Board shall expire three months after such termination of employment or cessation of service on the Board, but in no event may any Option be exercised after the end of the Option Period. If Optionee's employment or service on the Board is terminated because of Optionee's theft or embezzlement from the Company, disclosure of trade secrets of the Company or the commission of a willful, felonious act while in the employment of the Company or while in service on the Board (such reasons shall hereinafter collectively be referred to as "for cause"), then any Option or unexercised portion thereof granted to Optionee shall expire upon such date of such termination of employment or cessation of service on the Board.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. If the Optionee shall cease to serve as a director of the Company, or cease to be employed by the Company or one of its subsidiaries, for any reason other than his or her death or disability (as defined in Section 6, below), this Option shall terminate and become unexercisable three (3) calendar months after the date on which his or her directorship or employment ends (the “Termination Date”). During such three-month period this Option shall be exercisable only as to those installments, if any, which were exercisable under the terms of this Option as of the Termination Date.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. (a) In the event that Optionee shall at any time hereafter cease to be an employee of the Company for any reason other than his death, retirement or permanent disability, any part of the Option granted hereunder which has not been exercised by the date of such cessation shall immediately terminate on the date of such cessation. In the event that Optionee's employment by the Company shall terminate by reason of his retirement or permanent disability, the Option may be exercised, to the extent of the shares with respect to which the Option could have been exercised by Optionee on the date of such termination, prior to the date of its expiration or three (3) months after the date of such termination, whichever occurs first. If the Optionee ceases to be an employee of the Company by reason of his death prior to the termination of his right to exercise this Option in accordance with the provisions hereof without having totally exercised the Option, the Option may be exercised, to the extent of the shares with respect to which the Option could have been exercised by Optionee on the date of Optionee's death, by the Optionee's Successor, provided the Option is exercised prior to the date of its expiration or one (1) year from the date of the Optionee's death, whichever occurs first. (b) Notwithstanding the provisions of Paragraph 9(a) above, in the event that Optionee shall at any time hereafter cease to be a director of the Company (whether or not remaining an employee of the Company) for any reason, including, but not limited to, his retirement, permanent disability or death, any part of the Option granted hereunder which has not been exercised by the date of such cessation shall, on the date of such cessation, become immediately exercisable and may be exercised by Optionee, or by the Optionee's Successor, provided the Option is exercised prior to the date of its expiration.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. (a) Except in the event of the death or disability of a Participant, upon the resignation, removal or retirement from the board of directors of any Participant who is a director of the Holding Company or a Subsidiary, or upon the termination of Employment of a Participant who is not a director of the Holding Company or a Subsidiary, any Stock Option which has not yet become exercisable shall there upon terminate and be of no further force or effect, and, subject to extension by the Committee, any Stock Option which has become exercisable shall terminate if it is not exercised within 12 months of such resignation, removal or retirement; provided, however, in the case of any Incentive Stock Option such period shall be 3 months after such resignation, removal or retirement. (b) Unless the Committee shall specifically state otherwise at the time a Stock Option is granted, all Stock Options granted under this Plan shall become exercisable in full on the date of termination of a Participant's employment or directorship with the Holding Company or a Subsidiary because of his death or disability, and, subject to extension by the Committee, all Stock Options shall terminate if not exercised within 12 months of the Participant's death or disability. (c) In the event the Employment or the directorship of a Participant is Terminated for Cause (hereinafter defined), any Stock Option which has not been exercised shall terminate as of the date of such termination for cause.
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TERMINATION OF EMPLOYMENT OR DIRECTORSHIP. (a) In the event that Optionee's employment by the Company and its Affiliates shall terminate (or if optionee is non-employee director and his directorship with the Company or an Affiliate shall terminate), and the provisions of Sections 4(F) (2), 4(F) (3) and 4(I) of the Plan do not apply, the options granted to optionee pursuant to this Plan shall terminate immediately. (b) In the event that Optionee shall die (a) while in the employment of the Company (or an Affiliate) or (b) while he is a director of the Company or if the Optionee's employment by the Company (or an Affiliate) or his directorship on the Board of Directors is terminated because Optionee has become disabled within the meaning of Section 105(d) (4) of the Code, optionee, his estate, or beneficiary shall have the right to exercise his options at any time within twelve months from the date of (i) the death of such optionee or (ii) termination of his employment due to disability, as the case may be, to the same extent Optionee was entitled to exercise such option as of the date of such death or termination due to disability. Notwithstanding the foregoing, the provisions of this Paragraph (b) shall be subject to Sections 4(B), 4(H), and 4(I) of the Plan as may earlier terminate the option. (d) In no event shall this option give optionee (or his successor) a right to acquire any greater number of shares than he had the right to acquire on the date of his termination.
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Related to TERMINATION OF EMPLOYMENT OR DIRECTORSHIP

  • Termination of Employment or Service (a) Subject to the provisions of this Section 5, if the Participant’s employment with or service to the Company Group terminates for any reason, the unvested RSUs shall terminate as of the effective date of termination (the “Termination Date”), and all of the Participant’s rights hereunder with respect to such unvested RSUs shall cease as of the Termination Date (unless otherwise provided for by the Committee in accordance with the Plan). (b) If the Participant’s employment or service is terminated by the Service Recipient during the Performance Period due to or during the Participant’s Disability or due to the Participant’s death, a pro-rated number of the target number of RSUs granted hereunder shall become vested and nonforfeitable (irrespective of performance) based on the number of days in the Performance Period prior to the Termination Date relative to the number of the days in the full Performance Period. Any RSUs that vest as provided herein shall be settled in accordance with Section 4. (c) In the event the Participant’s employment with or service to the Company Group is terminated as a result of the Participant’s Retirement, the RSUs granted hereunder shall remain outstanding and eligible to vest, notwithstanding such termination of employment or service, based on (and to the extent) the Committee’s determination that the Performance Conditions have been satisfied on the Determination Date, in accordance with the schedule set forth in the Award Notice, so long as no Restrictive Covenant Violation occurs (as determined by the Committee, or its designee, in its sole discretion) prior to the Determination Date. Any RSUs that vest as provided herein shall be settled in accordance with Section 4. As a pre-condition to the Participant’s right to continued vesting following Retirement, the Committee, or its designee, may require the Participant to certify in writing prior to the applicable vesting date that no Restrictive Covenant Violation has occurred. Notwithstanding the foregoing, if the Date of Grant of the RSUs is not at least six months prior to the date of the Participant’s Retirement, any unvested RSUs shall terminate as of the Termination Date. (d) If the Participant’s employment with or service to the Company Group terminates for any reason after the last day of the Performance Period and before the Determination Date (other than a termination by the Company for Cause, or by the Participant while grounds for Cause exist or without Good Reason), and no Restrictive Covenant Violation occurs before the Determination Date, then all RSUs shall remain outstanding and eligible to vest based on (and to the extent) the Committee’s determination that the Performance Conditions have been satisfied on the Determination Date. (e) Notwithstanding anything herein to the contrary, the RSUs granted hereunder shall become immediately fully vested as of the Termination Date and settled in accordance with Section 4 if the Participant’s employment with or service to the Company Group shall be terminated by the Company other than for Cause, or by the Participant for Good Reason, in either case if such termination of the Participant’s employment occurs within 12 months following a Change in Control (for the avoidance of doubt, a Change in Control alone shall not, also, result in any vesting hereunder), with the actual number of RSUs determined based on (i) actual performance through the Termination Date, as determined by the Committee, or (ii) if the Committee determines that measurement of actual performance cannot be reasonably assessed, the assumed achievement of target performance as determined by the Committee. (f) For purposes of this Section 5, “Good Reason” means the occurrence of any of the following, without the Participant’s written consent:

  • 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.

  • Termination of Employment Relationship Your employment is terminable -------------------------------------- at will. That means that your employment relationship with Cardinal may be terminated by either party at any time, for any reason or no reason at all, subject to the notice provision addressed below. (a) Cardinal may terminate your employment for Cause effective immediately upon written notice. In the event that Cardinal terminates your employment for Cause, you will be entitled to earned and unpaid base salary and payment for any earned and unused vacation days through the last date of your employment.

  • Termination of Employment Without Cause At any time during the Term of Employment under this Agreement, either Arrow or the Bank may effect, pursuant to this Paragraph 7(b), and in accordance with the requirements set forth in Paragraph 11(gg) below, a Termination of Employment of Executive without Cause, provided, however, that any attempt to do so under circumstances that would also qualify such Termination of Employment as a Termination of Employment of Executive without Cause under Paragraph 6(a) of this Agreement, that is, as a Termination of Employment of Executive without Cause following a Change in Control that meets the conditions set forth in Paragraph 6(a), will be deemed a Termination of Employment of Executive without Cause under Paragraph 6(a), and not a Termination of Employment of Executive without Cause under this Paragraph 7(b). In the event of a Termination of Employment of Executive without Cause under this Paragraph 7(b), on the effective date of such Termination of Employment, and subject to the satisfaction of the conditions specified below in Section 8, Arrow or the Bank shall pay to the Executive, and the Executive shall be entitled to receive, one (1) lump sum payment in a dollar amount equal to the greater of (i) the total amount of Base Salary payments which would have been payable to the Executive during the period extending from such effective date until the normal expiration date of Employment under this Agreement as in effect at such time, had there been no early Termination of Employment of Executive without Cause (and assuming the Executive otherwise would have remained employed throughout such period and that his Base Salary would have remained unchanged throughout such period), or (ii) an amount equal to one hundred percent (100%) of the current Base Salary of the Executive on the effective date of such Termination of Employment.

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

  • 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.

  • Duration of Employment 5.1 A seafarer shall be engaged for the period specified in Appendix 1 to this Agreement and such period may be extended or reduced by the amount shown in Appendix 1 for operational convenience. The employment shall be automatically terminated upon the terms of this Agreement at the first arrival of the ship in port after expiration of that period, unless the Company operates a permanent employment system.

  • 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).

  • Termination of Employment Period The Agreement Term shall terminate upon the occurrence of any of the following:

  • 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.

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