Termination of Service – Death or Disability. (a) Except as may be otherwise expressly provided in this Agreement, this Option shall terminate as follows:
Termination of Service – Death or Disability. If your Service terminates because of your death or Disability, then your Option will expire at the close of business at Company headquarters on the date that is twelve (12) months after your Termination Date. If your Service terminates because of your death, then your estate or heirs may exercise the vested portion of your Option during this twelve (12) month period.
Termination of Service – Death or Disability. Notwithstanding Section 1.1(b) above, the following Section 1.1(c) shall apply in the event of the Participant’s Termination of Service due to death or Disability prior to the Service Vesting Date (an “Intervening Termination”). Upon such an Intervening Termination, all of the Company’s obligations and the Participant’s rights under this Agreement will remain in effect (except as otherwise provided herein), and a pro-rata amount of the PSUs awarded hereunder (“Outstanding PSUs”) shall be deemed to have satisfied the service-based vesting condition as of the occurrence of such Intervening Termination. With respect to the preceding sentence, such pro-rated amount of the Outstanding PSUs shall be based on the portion of the above three (3)-year TSR Performance Period during which the Participant was employed prior to such Intervening Termination (the “Prorated PSUs”), it being understood that the remaining portion of such Outstanding PSUs (i.e., that is not pro-rated pursuant to the above), shall be forfeited upon such Intervening Termination (and all of the Company’s obligations and the Participant’s rights under this Agreement with respect to such forfeited portion of the Outstanding PSUs shall immediately terminate). The Prorated PSUs shall remain outstanding and eligible to vest as of the last day of the TSR Performance Period based on the level achievement of the Financial Performance Goal Payout Percentage and the rTSR Modifier Percentage in accordance with the terms set forth above. The shares of Common Stock that are issuable and/or deliverable with respect to any Prorated PSUs that are earned and become Vested PSUs pursuant to the foregoing shall be issued and/or delivered to the Participant within two and a half (2.5) months following the last day of the TSR Performance Period; provided, however, that if the Participant violates the terms of Sections 11 through 14 of this Agreement, a non-disclosure agreement with, or other confidentiality obligation owed to, any Company Group Member prior to the issuance and/or delivery of shares of Common Stock with respect to such Vested PSUs, then all of the PSUs awarded hereunder (including any PSUs that become Vested PSUs) and all of the Company’s obligations and the Participant’s rights under this Agreement (with respect to the portion of the PSU Award relating to such Vested PSUs) shall immediately terminate. For purposes of this Agreement, “Disability” shall mean inability of the Participant to perform in a...
Termination of Service – Death or Disability. If you terminate employment due to death or Disability, the unvested portion of your Award will immediately vest in full and all restrictions applicable to your Award will cease as of that date.
Termination of Service – Death or Disability. If you terminate employment due to death or Disability, your Award will immediately vest and be payable as of such date based upon the Achievement Percentage (defined below) or, if the Achievement Percentage has not yet been determined, based upon the target performance level. Any date on which such accelerated vesting occurs is referred to in this Award Notice as an “Accelerated Vest Date”.
Termination of Service – Death or Disability. If Participant’s service as a member of the Board is terminated because of death or Disability, all unvested Shares held by the Participant at the time of such termination shall become immediately vested and the risks of forfeiture on such unvested Shares shall immediately lapse.
Termination of Service – Death or Disability. If you incur a Termination of Service due to death or Disability, the unvested portion of your Award will immediately vest in full and all restrictions applicable to your Award will cease as of that date. Dividends / Dividend Equivalent Rights You will have the right to receive dividends, if any, with respect to your Restricted Stock, regardless of vesting. Dividends will cease to be paid upon the forfeiture or sale of shares. Payment Upon each Vest Date, the shares of Restricted Stock that become vested will be released to you without restriction and recorded as income to you (valued at the Fair Market Value on the Vest Date).
Termination of Service – Death or Disability. If the Grantee’s Service terminates as a result of the Grantee’s death or Disability, on each Vesting Date following such termination of Service, the Grantee shall vest in a number of Performance Units equal to the number of Performance Units subject to vesting on such Vesting Date, based upon the Company and VION Ingredient’s achievement of the Adjusted EBITDA goals as described in Section 2(a), multiplied by the Pro-Rata Fraction.
Termination of Service – Death or Disability. The Expiration Date is the earlier of (i) the date set out in this Award Agreement or (ii) the expiration of ten years from the Date of Grant, or (iii) the expiration of a period following the time you cease (whether voluntarily or involuntarily) to be an employee of Learning Tree or its subsidiaries, which period will be (a) three (3) months if you ceased to be an employee for any reason other than your death, Disability or Retirement, or (b) twelve (12) months if you die or become Disabled while you are an employee of Learning Tree or one of its subsidiaries. Any options not exercisable on the date that you cease to be an employee (whether voluntarily or involuntarily) will be of no further force or effect. If you are not an employee of Learning Tree or one of its subsidiaries at the time this Option is granted, the Expiration Date will be determined in a similar manner based on the time that you cease to be a regular consultant for Learning Tree and its subsidiaries. After the Expiration Date, the Option will expire and be void and of no further force or effect.
Termination of Service – Death or Disability. Unless the applicable stock option agreement provides otherwise, each Option shall generally terminate upon the first to occur of the events listed below:
