Examples of qualifying service in a sentence
If the Grantee’s Qualifying Service ceases for any reason, including death, any then outstanding and unvested Restricted Stock acquired by the Grantee hereunder shall be treated as provided for in Sections 3(b), (c) or (d) above, as applicable.
A Participant shall for the purposes of the Plan be treated as being in " Qualifying Service" at any time if at that time he is a director, other than a non-executive director, or an employee of any member of the Group.
In no circumstances shall a person ceasing to be in Qualifying Service by reason of dismissal or otherwise howsoever be entitled to or claim against the Trustees, the Company or any other member or former member of the Group any compensation for or in respect of any consequent diminution or extinction of his rights or benefits (actual or prospective) under any Awards then held by him or otherwise in connection with the Plan.
Subject to Clause 4 and Clause 5 and sub-clause (b) of this Clause the Board may, at such time as it shall in its absolute discretion decide, grant Options to such Qualifying Service Providers as may be nominated by it to subscribe at the Option Price for such number of Plan Shares as the Board may specify.
If the Participant’s employment by the Company terminates for any reason other than Disability, Retirement after completing the Qualifying Service Period or death, the Participant shall forfeit automatically the portion of the Award that is not vested as of the effective date of the Participant’s termination of employment and such portion shall be cancelled by the Company.