Termination or Suspension of Employment or Service. The following provisions shall apply in the event of Awardee’s termination of employment or service unless the Committee shall have provided otherwise, either at the time of the grant of the Restricted Stock Unit Award or thereafter.
Termination or Suspension of Employment or Service. (as generally defined under Section 11 of the Plan).
(a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(b) In the event Awardee’s employment with Micro or an Affiliate is terminated by Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(c) In the event of Awardee’s Disability or death, Awardee’s unvested Restricted Stock Unit Award will immediately vest as of the effective date of such Awardee’s Disability, as defined under the Plan or on the date of Awardee’s death.
(d) Except as the Committee may otherwise determine, termination of Awardee’s employment or service for any reason shall occur on the date such Awardee ceases to perform services for Micro or any Affiliate without regard to whether such Awardee continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in lieu of notice of termination or, with respect to a member of the Board who is not also an employee of Micro or any Affiliate, the date such Awardee is no longer a member of the Board.
Termination or Suspension of Employment or Service. (as generally defined under Section 11 of the Plan).
(a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Award will be cancelled (forfeited) on such termination date.
(b) In the event of Awardee’s Retirement, Disability or death, the forfeiture or vesting of Awardee’s unvested Restricted Stock Award will be determined in accordance with the conditions listed under Section 3 above. In cases of special circumstances, the Committee may, in its sole discretion, when it finds that a waiver would be in the best interests of Micro, waive in whole or in part any or all remaining restrictions with respect to such Awardee’s shares of the Restricted Stock Award.
(c) In the event Awardee’s employment with Micro or an Affiliate is involuntarily terminated by Micro or an Affiliates other than for cause (“cause” shall mean Awardee’s commission of a felony, gross negligence, fraud or material failure to use his/her best efforts to perform his/her duties to Micro or an Affiliate, which material failure continues for a period of 30 days following written notice thereof from Micro or an Affiliate), Awardee’s unvested Restricted Stock Award will vest in accordance with the conditions listed in Section 3 above.
(d) If Awardee’s employment or service is terminated for cause as defined above, Awardee’s unvested Restricted Stock Award will be cancelled (forfeited) on such termination date. Upon Awardee’s termination for cause during the period before the Restricted Stock Award has vested, Awardee forfeits Awardee’s rights to the then unvested Restricted Stock Award.
Termination or Suspension of Employment or Service. (as generally defined under Section 11 of the Plan).
(a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(b) In the event Awardee’s employment with Micro or an Affiliate is terminated by Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(c) In the event of Awardee’s Disability or death, Awardee’s unvested Restricted Stock Unit Award will immediately vest as of the effective date of such Awardee’s Disability, as defined under the Plan or on the date of Awardee’s death.
(d) In the event of Awardee’s Retirement, Awardee’s unvested Restricted Stock Unit Award will continue to vest in accordance with the vesting schedule under this Award Agreement. Unless the Committee otherwise permits, the Committee has determined that the term “Retirement” means that Awardee’s employment has terminated other than by reason of death, Disability or Cause and that all the following criteria have been satisfied at the time of termination: either (1) Awardee is at least 65 years of age and have completed at least five years of service with Micro or an Affiliate, or (2) Awardee is at least 55 years of age and have completed at least ten years of service with Micro or an Affiliate. However, the number of Restricted Stock Units awarded in the year of Retirement will be prorated based upon the number of full months of service completed by the retiree during the calendar year of Retirement, and the number of prorated Restricted Stock Units will continue to vest in accordance with the vesting schedule under this Award Agreement.
Termination or Suspension of Employment or Service. The Agreement sets forth the provisions that apply in the event of your termination or suspension of employment or service.
Termination or Suspension of Employment or Service. (a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(b) In the event Awardee’s employment with Micro or an Affiliate is terminated by Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(c) In the event of Awardee’s Disability or death, Awardee’s unvested Restricted Stock Unit Award will immediately vest as of the effective date of such Awardee’s Disability, as defined under the Plan or on the date of Awardee’s death.
(d) Except as the Committee may otherwise determine, termination of Awardee’s employment or service for any reason shall occur on the date such Awardee ceases to perform services for Micro or any Affiliate without regard to whether such Awardee continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in lieu of notice of termination or, with respect to a member of the Board who is not also an employee of Micro or any Affiliate, the date such Awardee is no longer a member of the Board.
Termination or Suspension of Employment or Service. (as generally defined under Section 11 of the Plan).
(a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Award will be cancelled (forfeited) on such termination date.
(b) In the event Awardee’s employment with Micro or an Affiliate is terminated by Micro or an Affiliate, Awardee’s unvested Restricted Stock Award will be cancelled (forfeited) on such termination date.
(c) In the event of Awardee’s Disability or death, Awardee’s unvested Restricted Stock Award will immediately vest as of the effective date of such Awardee’s Disability, as defined under the Plan or on the date of Awardee’s death.
(d) In the event of Awardee’s Retirement, Awardee’s unvested Restricted Stock Award will continue to vest in accordance with the vesting schedule under this Award Agreement. Unless the Committee otherwise permits, the Committee has determined that the term “Retirement” means that Awardee’s employment has terminated other than by reason of death, Disability or Cause and that all the following criteria have been satisfied at the time of termination: either (1) Awardee is at least 65 years of age and have completed at least five years of service with Micro or an Affiliate, or (2) Awardee is at least 55 years of age and have completed at least ten years of service with Micro or an Affiliate. However, in the year of Retirement any unvested Restricted Stock awarded will be prorated based upon the number of full months completed by the retiree and continue to vest.
Termination or Suspension of Employment or Service. The following provisions shall apply in the event of Awardee’s termination of employment, or with respect to a member of the Board who is not an Employee, Awardee’s termination of service as a member of the Board, as applicable (hereinafter referred to as a termination of employment or service, respectively).
(a) Termination of Employment or Service for Cause or any reason other than death, Disability or Retirement. 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 Cause or any reason other than death, Disability or Retirement, the unvested Restricted Stock Award shall be cancelled (forfeited) on the Termination Date (as defined in Section 4(d) below) and Awardee shall not be entitled to receive any payment thereunder.
Termination or Suspension of Employment or Service. (as generally defined under Section 11 of the Plan).
(a) In the event Awardee voluntarily terminates his/her employment with Micro or an Affiliate, Awardee’s unvested Restricted Stock Unit Award will be cancelled (forfeited) on such termination date.
(b) In the event of Awardee’s disability or death, the forfeiture or vesting of Awardee’s unvested Restricted Stock Unit Award will be determined in accordance with the conditions listed under Section 3 above. In cases of special circumstances, the Committee may, in its sole discretion, when it finds that a waiver would be in the best interests of Micro, waive in whole or in part any or all remaining restrictions with respect to such Awardee’s shares of the Restricted Stock Unit Award.
(c) In the event Awardee’s employment with Micro or an Affiliate is involuntarily terminated by Micro or an Affiliate other than for cause (as defined under the 2007 LTP), Awardee’s unvested Restricted Stock Unit Award will vest in accordance with the conditions listed in Section 3 above.
(d) Except as the Committee may otherwise determine, termination of Awardee’s employment or service for any reason shall occur on the date such Awardee ceases to perform services for Micro or any Affiliate without regard to whether such Awardee continues thereafter to receive any compensatory payments therefrom or is paid salary thereby in lieu of notice of termination or, with respect to a member of the Board who is not also an employee of Micro or any Affiliate, the date such Awardee is no longer a member of the Board.
Termination or Suspension of Employment or Service
