Termination of Active Service definition

Termination of Active Service means the termination of the Grantee’s active employment with the Company Group for any reason, including the Grantee’s resignation, death, Disability or Retirement or termination by the member of the Company Group that employs the Grantee Without Cause or for Cause.
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Termination of Active Service means the termination of the Purchaser’s active services as a member of the Board of Directors for any reason.
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Examples of Termination of Active Service in a sentence

  • Upon the Grantee’s Termination of Active Service prior to the Normal Expiration Date, all Options then held by the Grantee that have not become Vested on or before the Grantee’s Termination Date shall automatically terminate, expire and be canceled on such Termination Date.

  • Notwithstanding any other provision herein, in the event of the Grantee’s Termination of Active Service for Cause, all Options then held by the Grantee (whether or not then Vested) shall terminate and be canceled automatically and immediately upon the delivery of written notice of such termination to the Grantee.

  • Prior to an IPO, Restricted Units shall be settled, to the extent Vested on and as of the Grantee’s Termination Date, following the Grantee’s Termination of Active Service and any then outstanding Restricted Units that are not Vested shall be immediately forfeited and shall terminate and expire on and as of such Termination Date.

  • Notwithstanding any other provision herein, in the event of the Grantee’s Termination of Active Service for Cause, all of the Restricted Units granted hereunder (whether or not then Vested) shall terminate and be canceled and forfeited automatically and immediately upon the delivery of written notice of such termination to the Grantee without the Transfer of any Settlement Shares or payment of any other consideration to the Grantee.

  • The closing of a repurchase of the Purchaser’s Company Shares following the Purchaser’s Termination of Active Service shall take place at the principal office of the Company on the tenth Business Day following the date of delivery of written notice to the Purchaser of the Company’s election to repurchase (or to cause its designee to repurchase) such Company Shares, unless specified otherwise in such notice.

  • For purposes of this Section 4.2, the term “Post-IPO Settlement Date” means the earlier of (i) in the event of the Grantee’s Termination of Active Service as of a Termination Date that occurs on or after an IPO, the Termination Date and (ii) the later of (x) the date all of the Restricted Units granted hereunder become Vested and (y) the expiration of any Lock-Up Period applicable to an Initial Public Offering.

  • In the event of the Grantee’s Termination of Active Service on or after August 1, 2007 by Burger King Without Cause as a result of Burger King serving notice of non-renewal pursuant to Section 1 of the Employment Agreement or by the Grantee’s resignation for Good Reason, all Options then held by the Grantee that have not become Vested shall immediately Vest on the Termination Date.

  • Notwithstanding any other provision herein, in the event of the Grantee’s Termination of Active Service for Cause, all Options then held by the Grantee (whether or not Vested) shall terminate and be canceled automatically and immediately upon the delivery of written notice of such termination to the Grantee.

  • The closing of a repurchase of the Purchaser’s Company Shares and/or Purchased Senior Notes following the Purchaser’s Termination of Active Service shall take place at the principal office of the Company on the tenth Business Day following the date of delivery of written notice to the Purchaser of the Company’s election to repurchase (or to cause its designee to repurchase) such Company Shares and/or Purchased Senior Notes, as the case may be, unless specified otherwise in such notice.

  • In the event of the Grantee’s Termination of Active Service prior to August 1, 2007 by Burger King Without Cause or by Grantee’s resignation for Good Reason, the Options due to Vest within the twelve-month period immediately following the Termination Date shall immediately Vest on the Termination Date, and the remaining Options shall automatically terminate, expire and be cancelled on the Termination Date.