Termination of Service; Death Sample Clauses

Termination of Service; Death. Except as provided below, in the event that the Optionee shall cease to be a director of the Company for any reason, the Optionee may exercise this Option, but only to the extent this Option is exercisable at the time the Optionee ceases to be a director of the Company, within six months after the date the Optionee ceases to be a director of the Company. In the event that the Optionee shall cease to be a director of the Company due to death, the Optionee’s beneficiary may exercise this Option, but only to the extent this Option is exercisable at the time of the Optionee’s death, within twelve months after the date of death. Notwithstanding the foregoing, this Option shall continue to be exercisable for up to five years following the Optionee’s cessation of service as a director of the Company, if the Optionee leaves the Board of Directors in good standing, as determined by the Board, and after serving a minimum of five consecutive full years as a director of the Company, but only to the extent this Option is exercisable at the time the Optionee ceases to be a director of the Company. Nothing in this Section shall permit the exercise of this Option following the expiration of its term.
Sample 1
AutoNDA by SimpleDocs
Termination of Service; Death. In the event of Participant’s Termination of Service due to death or upon death during the Participant’s period of Total Disability, the Options shall become fully exercisable by the Participant’s beneficiary and may be exercised at any time within one (1) year after the date of the Participant’s death (but not later than the Expiration Date). If the Participant dies following his or her Termination of Services for reasons other than Total Disability, the Participant’s beneficiary shall be entitled to exercise the Options, to the extent exercisable on the date of the Participant’s Termination of Service, during the same period that the Participant would have been entitled to exercise the Option if the Participant had not died.
Sample 1
Termination of Service; Death. (a) In the event Optionee ceases to be a director of the Company at any time prior to expiration of the Option, for any reason other than his death, the unexercised portion of the Option may be exercised by Optionee for a period of ninety (90) days from the date of such cessation.
Sample 1
Termination of Service; Death. If the Holder dies while a Director, this Nonqualified Stock Option shall be exercisable by the Holder's legal representatives, legatees, or distributes for three (3) years following the date of the Holder's death to the extent this Nonqualified Stock Option is exercisable on the Holder's date of death, and thereafter this Nonqualified Stock Option shall terminate and cease to be exercisable.
Sample 1
Termination of Service; Death. Except as provided below, in the event that the Participant shall cease to be a director of the Company for any reason, the Participant may exercise this Share Option, but only to the extent this Share Option is vested and exercisable at the time the Participant ceases to be a director of the Company, until the earlier of (i) the three-month anniversary of the date the Participant ceases to be a director of the Company and (ii) the Final Exercise Date and, to the extent not exercised during such period, shall immediately terminate. In the event that the Participant shall cease to be a director of the Company due to death, the Participant’s estate or beneficiary or permitted transferee may exercise this Share Option, but only to the extent this Share Option is exercisable at the time of the Participant death, until the earlier of (i) the one-year anniversary of the date of such death and (ii) the Final Exercise Date and, to the extent not exercised during such period, shall immediately terminate.
Sample 1

Related to Termination of Service; Death

  • Termination of Service Due to Death or Disability If an Awardee’s service on the Board terminates by reason of death or Disability, the restrictions and risk of forfeiture with respect to the Restricted Stock which have not expired shall immediately lapse and all shares of the Restricted Stock shall be deemed fully vested and nonforfeitable.

  • Termination of Service Termination of Service shall mean the Executive's voluntary resignation of service by the Executive or the Bank's discharge of the Executive without cause, prior to the Early Retirement Date (Subparagraph I [K]).

  • Termination of Employment Due to Death or Disability 4.1. In the event of your termination of employment due to death or permanent disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)) during the Initial Term or the Additional Term, on the date of such termination each outstanding and unvested equity award held by you that, pursuant to its terms, vests solely based upon providing continued service to Skyworks, including, without limitation, stock options, restricted stock awards (including restricted stock unit awards), and performance-based equity awards that are earned but unissued, shall automatically become vested, exercisable, and issuable, and any forfeiture restrictions thereon shall immediately lapse, as applicable, in each case, with respect to one-hundred percent (100%) of that number of then-unvested shares underlying such equity award.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

  • Termination of Services If the Optionee’s services with the Company and all Related Corporations are terminated for any reason (other than death or disability) prior to the Expiration Date, then this Option may be exercised by Optionee, to the extent of the number of Common Shares with respect to which the Optionee could have exercised it on the date of such termination of services, at any time prior to the earlier of (i) the Expiration Date, or (ii) three months after such termination of services. Any part of the Option that was not exercisable immediately before the termination of Optionee’s services shall terminate at that time.

  • Termination of Employment Due to Death, Disability, or Retirement If the Optionee’s termination of employment is due to death, Disability, or Retirement (termination on or after age 65), or if Optionee terminates employment after age 55, the following shall apply:

  • Termination for Retirement or Death If Executive’s employment is terminated by reason of his retirement or death following a Change in Control, Executive’s benefits shall be determined in accordance with Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect, and Executive shall not be entitled to any other benefits provided by this Agreement.

  • Termination of Service for Cause If your Service is terminated by the Company for Cause or if you commit an act(s) of Cause while this Option is outstanding, as determined by the Committee in its sole discretion, then you shall immediately forfeit all rights to your Option without consideration, including any vested portion of the Option, and the entire Option shall immediately expire, and any rights, payments and benefits with respect to the Option shall be subject to reduction or recoupment in accordance with the Clawback Policy and the Plan. For avoidance of doubt, your Service shall also be deemed to have been terminated for Cause by the Company if, after your Service has otherwise terminated, facts and circumstances are discovered that would have justified a termination for Cause, including, without limitation, your violation of Company policies or breach of confidentiality or other restrictive covenants or conditions that may apply to you prior to or after your Termination Date.

  • Other Termination of Service If the Optionee's Service with the Participating Company Group terminates for any reason, except Disability or death, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee's Service terminated, may be exercised by the Optionee within three (3) months after the date on which the Optionee's Service terminated, but in any event no later than the Option Expiration Date.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!