Termination of Employment or Service by Micro or its Affiliates in General Sample Clauses

Termination of Employment or Service by Micro or its Affiliates in General. Except as the Committee may at any time otherwise provide or as required to comply with applicable law, if Awardee’s employment or service with Micro or its Affiliates is terminated for any reason other than Voluntary Termination, Death, Disability, Retirement or Cause, Awardee’s right to receive a payment under his/her Restricted Stock Unit Award shall be reduced from 100% of the payment that would be due if the Awardee remained employed throughout the Measurement Period to a fraction thereof whose numerator shall be the number of full months elapsed from the beginning of the Measurement Period or, if later, the date such Awardee became an Executive through the date of such termination and whose denominator shall be 36; provided, however that if the numerator is less than 12, the Restricted Stock Unit Award shall immediately be terminated and the Awardee shall not be entitled to receive any payment thereunder.
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Termination of Employment or Service by Micro or its Affiliates in General. Except as the Committee may at any time otherwise provide or as required to comply with applicable law, if Awardee’s employment with the Employer, or service with Micro, as applicable, is terminated for any reason other than Voluntary Termination, death, Disability, Retirement or Cause (whether or not in breach of local labor laws), Awardee’s right to receive a payment under the Restricted Stock Unit Award shall be reduced from 100% of the payment that would be due if the Awardee remained employed throughout the Measurement and Vesting Periods to a fraction thereof whose numerator shall be the number of full months elapsed from the grant date through the Termination Date (as defined in Section 6(f) below) and whose denominator shall be 36; provided, however that if the numerator is less than 12, the Restricted Stock Unit Award shall immediately be cancelled (forfeited) and Awardee shall not be entitled to receive any payment thereunder. The payment will be made on each Vesting Date, as applicable, and shall be based on upon the results at the end of the Measurement Period.
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Related to Termination of Employment or Service by Micro or its Affiliates in General

  • Termination of Employment or Services Except as set forth herein, if the Participant’s employment with, membership on the board of directors of, or engagement to provide services to, the Company or any of its Affiliates terminates for any reason, all unvested RSUs shall be canceled immediately and the Participant shall not be entitled to receive any payments with respect thereto.

  • Termination of Employment or Service If the Participant’s employment or service with the Company and its Affiliates terminates for any reason, all unvested RSUs shall be cancelled immediately and the Participant shall not be entitled to receive any payments with respect thereto.

  • Effect of Termination of Employment or Services (a) The Restricted Stock granted pursuant to this Agreement shall vest in accordance with the vesting schedule reflected in Paragraph 2(b) above, as long as the Participant remains employed by or continues to provide services to the Company or a Subsidiary. If, however, either:

  • Termination of Employment Generally In the event the Executive’s employment with the Company terminates, for any reason whatsoever including death or disability the Executive shall be entitled to the benefits described in this Section 2.2.

  • Effect of Termination of Employment or Service Except as provided in Section 3, the Participant’s Share Units shall terminate and be forfeited to the extent such units have not become vested prior to the first date the Participant is no longer employed by or in service to the Company or one of its Subsidiaries, regardless of the reason for the termination of the Participant’s employment or service with the Company or a Subsidiary, whether voluntarily or involuntarily. If any unvested Share Units are terminated hereunder, such Share Units shall automatically terminate and be forfeited as of the applicable termination date without payment of any consideration by the Company and without any other action by the Participant, or the Participant’s beneficiary or personal representative, as the case may be.

  • Termination of Employment and Options Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:

  • Termination of Employment by the Company for Cause The Company may terminate the Executive’s employment for Cause during the Term upon written notice to the Executive. If the Executive’s employment is so terminated by the Company, the Term shall end as of the Date of Termination and the Executive shall thereupon be entitled solely to the following:

  • Termination of Employment by the Company During the Term, the Company may terminate the Executive's employment at any time with or without Cause (as defined below) pursuant to the Notice of Termination provision below.

  • Termination of Employees At closing the Vendor will terminate the employment of all employees to whom the Purchaser has made an offer of employment under section 8.1 and will indemnify and save harmless the Purchaser from and against all claims by any employee of the Vendor for wages, salaries, bonuses, pension or other benefits, severance pay, notice or pay in lieu of notice and holiday pay in respect of any period before closing.

  • Termination of Employment Relationship 3.1 The Executive’s employment with the Company shall automatically terminate, and the Employment Term shall thereupon terminate:

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