Termination of Employment or Other Business Relationship. If Participant’s employment by or other business relationship with the Company or any Related Corporation (as defined in the Plan) is terminated for any reason (whether with or without cause or due to death or disability of Participant), Participant’s right in any RSUs that are not vested shall automatically terminate upon the effective date of such termination of employment or other business relationship with the Company and its Subsidiaries and such RSUs shall be cancelled as provided within the terms of the Plan and shall be of no further force and effect. In the event of such termination, and except as otherwise set forth in paragraph 4 below regarding retirement, the Company, as soon as practicable following the effective date of termination shall issue shares of Stock to Participant (or Participant’s designated beneficiary or estate executor in the event of Participant’s death) with respect to any RSUs which, as of the effective date of termination, have vested but for which shares of Stock had not yet been issued to Participant (for example, due to a valid deferral election).
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Samples: Restricted Stock Unit Agreement (National Dentex Corp /Ma/)
Termination of Employment or Other Business Relationship. If ParticipantAwardee’s employment by or other business relationship with the Company or any Related Corporation a Subsidiary (as defined in the Plan) is terminated for any reason (whether with or without cause or due to death or disability of ParticipantAwardee), ParticipantAwardee’s right in any RSUs that are not vested shall automatically terminate upon the effective date of such termination of employment or other business relationship with the Company and its Subsidiaries and such RSUs shall be cancelled as provided within the terms of the Plan and shall be of no further force and effect. In the event of such termination, and except as otherwise set forth in paragraph Section 4 below regarding retirement, the Company, as soon as practicable within 90 days following the effective date of termination shall issue shares of Stock to Participant Awardee (or ParticipantAwardee’s designated beneficiary or estate executor in the event of ParticipantAwardee’s death) with respect to any RSUs which, as of the effective date of termination, have vested but for which shares of Stock had not yet been issued to Participant Awardee (for example, due to a valid deferral election).
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Circor International Inc)
Termination of Employment or Other Business Relationship. If ParticipantAwardee’s employment by or other business relationship with the Company or any Related Corporation a Subsidiary (as defined in the Plan) is terminated for any reason (whether with or without cause or due to death or disability of ParticipantAwardee), ParticipantAwardee’s right in any RSUs that are not vested shall automatically terminate upon the effective date of such termination of employment or other business relationship with the Company and its Subsidiaries and such RSUs shall be cancelled as provided within the terms of the Plan and shall be of no further force and effect. In the event of such termination, and except as otherwise set forth in paragraph Section 4 below regarding retirement, the Company, as soon as practicable following the effective date of termination shall issue shares of Stock to Participant Awardee (or ParticipantAwardee’s designated beneficiary or estate executor in the event of ParticipantAwardee’s death) with respect to any RSUs which, as of the effective date of termination, have vested but for which shares of Stock had not yet been issued to Participant Awardee (for example, due to a valid deferral election).
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Circor International Inc)