Termination of Status as Director Sample Clauses

Termination of Status as Director. If Director's services as a member of the Board of Directors terminate by reason of death, disability or voluntary resignation from the Board, the Option granted hereby shall immediately become exercisable and shall remain exercisable for two years after the date of such termination. If Director's services as a member of the Board of Directors terminate for any other reason, any portion of an Option granted pursuant to this Plan which is not then exercisable, shall terminate and any portion of such Option which is then exercisable may be exercised within a period of one year after the date of such termination.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Termination of Status as Director. Subject to Sections 8 and 9, if Optionee's service as a director of the Company terminates at any time, unvested Options shall immediately terminate and vested Options shall be immediately exercisable for a period of three (3) months from the date of such termination.
Sample 1Sample 2
Termination of Status as Director. A director and/or alternate director shall be removed from the Board of Directors upon the occurrence of anyone of the following events: (1) the Authority receives written notice from the appointing Member of the removal of the director or alternate director, together with a certified copy of the resolution of the City Council or Governing Board of the Member effecting such removal; (2) the withdrawal or removal of the Member from the Authority; (3) the death or resignation of the director or alternate director; (4) the Authority’s receipt of written notice from the Member that the director or alternate director is no longer qualified as provided in subsection (a) of this Article.
Sample 1
Termination of Status as Director. If the Participant shall cease to be a director for any reason other than permanent or total disability (within the meaning of Section 22(e)(3) of the Code, as determined in the sole discretion of the Committee), retirement, death or a termination by the Company for Cause, the Option shall automatically terminate ninety (90) days following the date he/she ceases to be a director. Prior to such termination of the Option, the Participant may exercise the Option to the extent that the Option was vested as of the termination date; provided, however, that no Option shall be exercised after the Expiration Date.
Sample 1
Termination of Status as Director. If Xxxxxxx'x services as a director of the Corporation shall terminate by reason of death or disability, or if he is not reelected or reappointed to the Board of Directors, the Option granted hereby shall remain exercisable for six months after the date of such termination but not later than December 31, 2008. If Xxxxxxx shall resign from the Board of Directors, this option shall immediately terminate and no longer be exercisable.
Sample 1
Termination of Status as Director. This option shall terminate prior to the expiration of its term as follows: (a) One (1) year after you cease to be a Non-Employee Director (as defined in the Plan) of the Company for any reason other than Termination For Cause. In the event you become disabled or die while you are, or within one (1) year after you cease to be, a NonEmployee Director of the Company, you or your estate or your personal representative may exercise the option prior to the time such option terminates as provided in the preceding sentence. (b) If you cease to be Non-Employee Director for cause, as determined by the Company's Board of Directors in its sole discretion, you shall cease to have any right to exercise any option upon such termination.
Sample 1
Termination of Status as Director. Except as provided below, if the Option Holder ceases to be a Director of the Company within the term of this Option for any reason other than death or disability and the Option Holder shall not have then purchased all of the shares represented by this Option, he shall thereafter have the right to exercise this Option only for the number of shares to which he was entitled under this Option on the date he ceases to be a Director, and such right shall lapse and this Option shall terminate six (6) months after said termination date or upon the expiration of the specified term of this Option, whichever date is sooner. Notwithstanding the above, the Board of Directors of the Company may terminate this Option in all respects effective upon the termination of the Option Holder's status as a Director if the Board of Directors makes a determination that the termination was the result of (i) refusal to perform his or her duties, (ii) gross or willful misconduct that is materially harmful to the Company or (iii) conviction of a crime of moral turpitude or a felony involving personal dishonesty, and any such determination shall automatically be deemed made retroactive to the date Option Holder ceases to be a Director.
Sample 1
AutoNDA by SimpleDocs

Related to Termination of Status as Director

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • Termination of Service for Cause Upon a termination of the Participant’s Service by the Company for Cause the Option, including the Vested Portion, shall immediately terminate and be forfeited without consideration.

  • Termination of Agreement for Cause 5.1.1. If A/E breaches any of the covenants or conditions of this AGREEMENT, COUNTY shall have the right to terminate this AGREEMENT upon ten (10) days written notice prior to the effective day of termination. 5.1.2. A/E shall have the opportunity to cure the alleged breach prior to termination. 5.1.3. In the event the alleged breach is not cured by A/E prior to termination, all work performed by A/E pursuant to this AGREEMENT, which work has been reduced to plans or other documents, shall be made available to COUNTY.

  • Effect of Termination of Service Except as otherwise provided in accordance with Section 4(b) above, if you cease to be a Service Provider, you will forfeit all unvested Units.

  • Termination on Death or Disability If the employment of the Executive is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: (i) The Accrued Obligations, at the times provided and subject to the conditions set forth in Section 8(a)(i) above; (ii) An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the Executive’s death or such termination of employment due to Disability; (iii) Any and all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and (iv) If the Executive is eligible for and elects to receive continued coverage under the Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability (or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company.

  • Termination of Continuous Service Except as otherwise provided in this Section 3, the unvested portion of the award shall be forfeited as of the date (the “Termination Date”) that the Grantee actually ceases to provide services to the Company or any Affiliate in any capacity of Employee, Director or Consultant (irrespective of whether the Grantee continues to receive severance or any other continuation payments or benefits after such date) (such cessation of the provision of services by Grantee being referred to as “Service Termination”). A Service Termination shall not occur and Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate in any capacity of Employee, Director or Consultant.

  • Termination of Contract for Cause 5.1.1 If A-E breaches any of the covenants or conditions of this CONTRACT, COUNTY shall have the right to terminate this CONTRACT upon ten (10) days written notice prior to the effective day of termination. 5.1.2 A-E shall have the opportunity to cure the alleged breach prior to termination. 5.1.3 In the event the alleged breach is not cured by A-E prior to termination, all work performed by A-E pursuant to this CONTRACT, which work has been reduced to plans or other documents, shall be made available to COUNTY.

  • 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.

  • Termination of Service Relationship If the Optionee’s Service Relationship terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below.

  • Continue to Perform After Resignation or Removal No resignation or removal of the Asset Representations Reviewer will be effective, and the Asset Representations Reviewer will continue to perform its obligations under this Agreement, until a successor Asset Representations Reviewer has accepted its engagement according to Section 5.3(b).

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