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.
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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.
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Termination of Status as Director. This option shall terminate prior to the expiration of its term as follows:
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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.
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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.
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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.
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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:
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Related to Termination of Status as Director

  • Termination of Status as an Employee If the Optionee ceases to serve as an Employee for any reason other than death or for Cause (as defined in the Plan) and thereby terminates his status as an Employee, the Optionee shall have the right to exercise this Option at any time within ninety (90) days following the date of such termination, to the extent that the Optionee was entitled to exercise the Option at the date of such termination, but in no event after the expiration of the term of the Option set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to death, this Option may be exercised at any time within one (1) year following the date of death by the Optionee's executor or administrator or the person or persons who shall have acquired the Option by bequest or inheritance but only to the extent the Optionee was entitled to exercise this option at the date of death. To the extent that the Optionee was not entitled to exercise the Option at the date of termination or death, or to the extent the Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be exercisable after the expiration of the term set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to termination of his employment by the Company for cause (as defined in the Plan), this Option shall cease to be exercisable ten (10) days following the date the notice of such termination is delivered to the Optionee.

  • 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 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.

  • 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 Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • Termination of Company Upon the completion of the liquidation of the Company and the distribution of all Company assets, the Company's affairs shall terminate and the Liquidator shall cause to be executed and filed an appropriate certificate, if required, to such effect in the proper governmental office or offices, as well as any and all other documents required to effectuate the termination 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.

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