Common use of Cessation of Service Clause in Contracts

Cessation of Service. (a) Except as otherwise provided in this Paragraph 3 or in Paragraph 5 below, should Participant cease Continuous Service for any reason prior to vesting in one or more Shares pursuant to the Normal Vesting Schedule, then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 7 contracts

Samples: Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc), Global Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc), Gilead Sciences, Inc.

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Cessation of Service. (a) Except as otherwise provided in this Paragraph 3 or in Paragraph 5 below, should Should Participant cease Continuous Service for any reason prior to vesting in one or more the Shares pursuant subject to the Normal Vesting Schedulethis Award, then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will awarded hereunder shall be reduced accordingly. immediately cancelled, and Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 5 contracts

Samples: Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co), Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co), Restricted Stock Unit Issuance Agreement (Hallador Petroleum Co)

Cessation of Service. (a) Except as otherwise provided in this Paragraph 3 or in Paragraph 5 below, should Participant cease Continuous Service for any reason prior to vesting in one or more Shares pursuant to the Normal Vesting Schedule, then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 2 contracts

Samples: Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc), Restricted Stock Unit Issuance Agreement (Gilead Sciences Inc)

Cessation of Service. (a) Except as to the extent otherwise provided in this Paragraph 3 or in Paragraph 5 below, should Participant cease Continuous Service for any reason prior to vesting in one or more Shares pursuant subject to the Normal Vesting Scheduleany Substitute Award, then the that Substitute Award will shall be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will restricted stock units shall be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 2 contracts

Samples: Universal Restricted Stock Unit Award Agreement (A & B II, Inc.), Universal Restricted Stock Unit Award Agreement (A & B II, Inc.)

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Cessation of Service. (a) Except as otherwise provided in this Paragraph 3 or in Paragraph 5 below5, should Participant cease Continuous Service for any reason prior to vesting in one or more Shares pursuant to the Normal Vesting Schedule, then the Award will be immediately cancelled and forfeited with respect to those unvested Shares, and the number of Restricted Stock Units will be reduced accordingly. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement (Gilead Sciences, Inc.)

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