Effect of Termination of Employment or Death. If the Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company or a Subsidiary for any reason except death, the portion of the Option which is unexercisable on the date on which the Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the Options which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of this Option in accordance with the term for which the Option was granted, or (ii) three months (one year in the case of termination by reason of Disability of the Employee under the terms of the Plan) from such date, except in the case of an Employee who is an “Approved Retiree” as defined below. If Employee is an Approved Retiree, then the Option shall expire at the sooner to occur of, (i) the expiration of such option in accordance with its original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to Options granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect to that portion of the Options equal to such number of shares multiplied by the ratio of (a) the number of days between the Grant Date and the retirement date inclusive, over (b) the number of days on and after the Grant Date and before the first anniversary of the Grant Date. In the event of the death of Employee without Approved Retiree status during the three month period following termination of employment or a leave of absence over twelve months (except a leave of absence approved by the Board or Committee), the Option shall be exercisable by the Employee’s personal representative, heirs or legatees to the same extent and during the same period that the Employee could have exercised the Option if the Employee had not died. In the event of the death of Employee while an employee or while an Approved Retiree, the Option (if the waiting period has elapsed) shall be exercisable in its entirety by the Employee’s personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of the Employee, but in no event after the term for which the Option was granted. For purposes of this Agreement, an “Approved Reti...
Effect of Termination of Employment or Death. (a) Effect on PSs and RSUs. In the event the Employee
Effect of Termination of Employment or Death. Except as otherwise provided in the instrument evidencing the award of Restricted Stock with respect to a Participant’s death, disability, retirement or similar occurrences, if, prior to the lapse of restrictions applicable to the Restricted Stock, the Participant ceases to be an employee of the Company or the Related Companies for any reason, any shares of Restricted Stock as to which the restrictions have not lapsed shall be forfeited to the Company, effective on the date of the Participant’s termination of employment. The Board of Directors may not amend an award of Restricted Stock to provide that the restrictions thereon shall lapse earlier than as provided in Sections 7.3 and 7.4 hereof.
Effect of Termination of Employment or Death. Change in Subsidiary ------------------------------------------------------------------ Status. The Option and all other rights hereunder, to the extent not exercised, ------ shall terminate and become null and void at such time as the Employee ceases to be employed by either the Corporation or any Subsidiary, except that:
Effect of Termination of Employment or Death. (a) If the Company terminates Optionee's employment for Cause (as defined in Section 4(a) of the Employment Agreement), or Optionee resigns for other than Good Reason or Special Resignation pursuant to Section 4(e) or 4(f) of the Employment Agreement, Optionee's right to exercise any outstanding Options shall terminate immediately upon his termination of employment.
Effect of Termination of Employment or Death. If, prior to the date that this option shall first become exercisable, the Optionee's employment with the Company and its subsidiaries shall be terminated, with or without cause, or by the act, death, permanent disability, or retirement of the Optionee, the Optionee's right to exercise this option shall terminate and all rights hereunder shall cease. If, on or after the date that this option shall first become exercisable, the Optionee's employment with the Company and its subsidiaries shall be terminated by reason of the Optionee's retirement at or after the normal retirement date, the Optionee shall have the right, within two years after such termination of employment, to exercise this option to the extent that it shall have been exercisable and unexercised on the date of such termination of employment, subject to any other limitation on the exercise of this option in effect at the date of exercise. If termination of employment is for any reason other than death, disability or retirement, the Optionee shall have the right, for one year after such termination of employment, to exercise this option to the extent that it shall have been exercisable and unexercised on the date of such termination of employment, subject to any other limitation on the exercise in effect at the date of exercise. If this option shall have become exercisable during the Optionee's term of employment and the Optionee shall die while in the employ of the Company or terminate his employment due to disability (within the meaning of Section 22(e) of the Internal Revenue Code of 1986), the Optionee or the executor or administrator of the estate of the Optionee (as the case may be) or the person or persons to whom the option shall have been transferred by will or the laws of descent and distribution, shall have the right, for one year after the date of the Optionee's death, or the date of his termination of employment due to disability, to exercise the option to the extent that it was exercisable and unexercised on the date of death or termination of employment (as the case may be), subject to any other limitation on the exercise in effect at the date of exercise. The transfer of Optionee from one corporation to another among the Company and any of its subsidiaries, or a leave of absence with the written consent of the Company, shall not be a termination of employment for purposes of this Agreement.
Effect of Termination of Employment or Death. (A) If an OPTIONEE's status as a director or as an employee of the Company terminates for any reason, other than his retirement, death or disability, before the date of expiration of any OPTIONS held by such OPTIONEE, such OPTIONS shall become null and void on the date of such termination. An OPTIONEE who terminates employment with the COMPANY, but retains his status as a Director is not considered terminated for purposes of this Section 6. The date of such termination shall be the date the OPTIONEE ceases to be both a director and an employee of the Company.
Effect of Termination of Employment or Death. If the Optionee's employment by either the Company or any subsidiary terminates, the Option and all other rights and benefits under this Agreement terminate except that the Optionee may, at any time within the following periods after the Severance Date, exercise the Option to the extent the Option was exercisable on the Severance Date and has not otherwise expired:
Effect of Termination of Employment or Death. (a) If Employee’s Continuous Employment is terminated for any reason other than those specified in (b) or (c) or (d) below, Employee shall immediately forfeit all of the SARs which are unexercisable and, provided that Employee continues to meet the requirements related to Non-competition and No Improper Conduct, any SARs which were otherwise exercisable on such date shall expire at the earlier of (i) the expiration of the SARs in accordance with the term for which the SARs were granted, or (ii) three months from the date on which Employee’s Continuous Service terminated.
Effect of Termination of Employment or Death. The Option and all -------------------------------------------- other rights hereunder, to the extent not exercised, shall terminate and become null and void at such time as the Employee ceases to be employed by either the Corporation or any Subsidiary, except that
