Common use of Termination without Cause or Termination by the Participant for Good Reason Clause in Contracts

Termination without Cause or Termination by the Participant for Good Reason. Subject to the requirements of Section 10(e) of the Employment Agreement, in the event the Participant’s Termination of Employment is by the Company without "Cause" or by the Participant voluntarily with "Good Reason," unvested Restricted Stock Units shall immediately vest at target level attainment and a share of Common Stock with respect to each such vested Restricted Stock Unit shall be distributed within fifty-five (55) days following such termination. For purposes of this Agreement, the terms "Cause" and "Good Reason" shall have the meaning given such terms under the Employment Agreement.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Scholastic Corp), Restricted Stock Unit Agreement (Scholastic Corp)

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Termination without Cause or Termination by the Participant for Good Reason. Subject to the requirements of Section 10(eI0(e) of the Employment Agreement, in the event the Participant’s 's Termination of Employment is by the Company without "Cause" or by the Participant voluntarily with "Good Reason," unvested Restricted Stock Units shall immediately vest at target level attainment and a share of Common Stock with respect to each such vested Restricted Stock Unit shall be distributed within fifty-five (55) days following such termination. For purposes of this Agreement, the terms "Cause" and "Good Reason" shall have the meaning given such terms under the Employment Agreement.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Scholastic Corp)

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Termination without Cause or Termination by the Participant for Good Reason. Subject to the requirements of Section 10(e) of the Employment Agreement, in the event the Participant’s Termination of Employment is by the Company without "Cause" or by the Participant voluntarily with "Good Reason," all unvested Restricted Stock Units shall become immediately vest at target level attainment vested and a share of Common Stock with respect to each such vested Restricted Stock Unit shall be distributed within fifty-five (55) days following such termination. For purposes of this Agreement, the terms "Cause" and "Good Reason" shall have the meaning meanings given such terms under the Employment Agreement.

Appears in 1 contract

Samples: 2011 Stock Incentive Plan (Scholastic Corp)

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