Examples of Professional relationship in a sentence
If the Professional Relationship between a Participant and a Group Company is terminated by the Group Company for Cause, all LTIP Awards held by the Participant and not yet settled by the Company shall lapse automatically, without any payment, irrespective of whether the LTIP Awards have vested in accordance with Article 5.1 of this Plan, unless the Board of Directors, upon recommendation of the Remuneration Committee, would decide otherwise.
In case of Disability of a Participant, all Phantom Stock Units held by that Participant shall immediately vest and shall be cash settled by the Company in accordance with this Plan on the date of termination of the Professional Relationship as a result of the Disability of the Participant.
In case of Resignation by the Participant, all unvested LTIP Awards held by that resigning Participant shall lapse automatically, without any payment, upon first notification to the Group Company of such termination of the Professional Relationship, unless the Board of Directors upon recommendation of the Remuneration Committee, would decide otherwise.
If the Professional Relationship between (the Affiliate of) a Participant and a Group Company is terminated by the Group Company for Cause prior to the fifth (5th) anniversary of the Offer Date, all RSUs held by the Participant shall lapse automatically, without any payment, unless the Supervisory Board, upon recommendation of the Remuneration Committee, would decide otherwise.
In case of Disability of a Participant, all LTIP Awards held by that Participant shall immediately vest and can be exercised in accordance with this Plan as of the date of termination of the Professional Relationship as a result of the Disability of the Participant.