Examples of Service Personnel in a sentence
Except for grants of Incentive Stock Options, for purposes of this Section 6(a), “Service Personnel” shall include prospective Service Personnel to whom Awards are granted in connection with written offers of a service relationship with a Group Member.
If a Participant’s status as a Service Personnel terminates other than as provided in circumstances set out in Sections 7(h), 7(i) and 17, such Participant may exercise any unexercised Award (to the extent exercisable) within such period of time as is specified in the Award Agreement to the extent that the Award is vested and exercisable on the date of termination (but in no event later than the expiration of the term of the Award as set forth in the Award Agreement).
If, after termination of his or her status as a Service Personnel, the Participant does not exercise his or her vested Award within the time specified herein, the Award shall lapse, and the Shares which were the subject of such Award shall, so far as they have been Awarded Shares, become Returned Shares.
In the absence of a specified time in the Award Agreement, and except as provided in Sections 7(h), 7(i) and 17, Awards shall remain exercisable for three (3) months following the termination of the Participant’s status as a Service Personnel.
If a purchase price was paid by the Participant for the Restricted Shares (other than in services), then upon the Participant’s termination of status as a Service Personnel, the unvested Restricted Shares then subject to restrictions shall become ab initio void and the Company shall pay to the Participant a cash price per share equal to the price paid by the Participant for such Restricted Shares or such other amount as may be specified in the Award Agreement.