Common use of Continuous Service Relationship Clause in Contracts

Continuous Service Relationship. If the Participant’s continuous service to the Company or one of its Affiliates as an Employee or Director (a “Business Relationship”) ceases for any reason prior to the end of the Performance Period, the Performance Share Units that were not earned as of the date of such cessation of service will be forfeited, except as provided in this Section. The Participant’s Business Relationship shall be deemed to have ceased on the last day of active service to the Company or an Affiliate and shall not be extended by any notice of termination period. For purposes hereof, a Business Relationship may not be considered as having ceased during any leave of absence, at the discretion of the Committee, if such leave of absence has been approved in writing by the Company. Any change in the type of Business Relationship the Participant has within or among the Company and its Affiliates shall not result in the forfeiture of the Performance Share Units so long as the Participant continuously maintains a Business Relationship.

Appears in 4 contracts

Samples: Share Unit Agreement (Red Hat Inc), Share Unit Agreement (Red Hat Inc), Share Unit Agreement (Red Hat Inc)

AutoNDA by SimpleDocs

Continuous Service Relationship. If the Participant’s continuous service to the Company or one of its Affiliates as an Employee or Director (a “Business Relationship”) ceases for any reason prior to the end last day of the Performance Period, the Performance Share Units that were not earned as of the date of such cessation of service Business Relationship will be forfeited, except as provided in this Section. Section 4 or Appendix A. The Participant’s Business Relationship shall be deemed to have ceased on the last day of active service to the Company or an Affiliate and shall not be extended by any notice of termination periodAffiliate. For purposes hereof, a Business Relationship may not be considered as having ceased during any leave of absence, at the discretion of the Committee, if such leave of absence has been approved in writing by the Company. Any change in the type of Business Relationship the Participant has within or among the Company and its Affiliates shall not result in the forfeiture of the Performance Share Units so long as the Participant continuously maintains a Business Relationship.

Appears in 3 contracts

Samples: Performance Share Unit Agreement (Red Hat Inc), Performance Share Unit Agreement (Red Hat Inc), Performance Share Unit Agreement (Red Hat Inc)

Continuous Service Relationship. If the Participant’s continuous service to the Company or one of its Affiliates as an Employee or Director (a “Business Relationship”) ceases for any reason prior to the end last day of the Performance Period, the Performance Share Units that were not earned as of the date of such cessation of service a Business Relationship will be forfeited, except as provided in this Section. Section 4 or Appendix A. The Participant’s Business Relationship shall be deemed to have ceased on the last day of active service to the Company or an Affiliate and shall not be extended by any notice of termination periodAffiliate. For purposes hereof, a Business Relationship may not be considered as having ceased during any leave of absence, at the discretion of the Committee, if such leave of absence has been approved in writing by the Company. Any change in the type of Business Relationship the Participant has within or among the Company and its Affiliates shall not result in the forfeiture of the Performance Share Units so long as the Participant continuously maintains a Business Relationship.

Appears in 2 contracts

Samples: Share Unit Agreement (Red Hat Inc), Share Unit Agreement (Red Hat Inc)

Continuous Service Relationship. If the Participant’s continuous service to the Company or one of its Affiliates as an Employee or Director (a “Business Relationship”) ceases for any reason prior to the end of the Performance Period, the Performance Share Units that were not earned as of the date of such cessation of service will be forfeited, except as provided in this Section. The Participant’s Business Relationship shall be deemed to have ceased on the last day of active service to the Company or an Affiliate and shall not be extended by any notice of termination period. For purposes hereof, a Business Relationship may shall not be considered as having ceased during any leave of absence, at the discretion of the Committee, absence if such leave of absence has been approved in writing by the Company. Any change in the type of Business Relationship the Participant has within or among the Company and its Affiliates shall not result in the forfeiture of the Performance Share Units so long as the Participant continuously maintains a Business Relationship.

Appears in 1 contract

Samples: Share Unit Agreement (Red Hat Inc)

AutoNDA by SimpleDocs

Continuous Service Relationship. If the Participant’s continuous service to the Company or one of its Affiliates as an Employee or Director (a “Business Relationship”) ceases for any reason prior to the end of the Performance Period, the Performance Share Units that were not earned as of the date of such cessation of service will be forfeited, except as provided in this Section. Section 4 or Appendix A. (Form of Operating PSU Agreement May 2013) The Participant’s Business Relationship shall be deemed to have ceased on the last day of active service to the Company or an Affiliate and shall not be extended by any notice of termination periodAffiliate. For purposes hereof, a Business Relationship may not be considered as having ceased during any leave of absence, at the discretion of the Committee, if such leave of absence has been approved in writing by the Company. Any change in the type of Business Relationship the Participant has within or among the Company and its Affiliates shall not result in the forfeiture of the Performance Share Units so long as the Participant continuously maintains a Business Relationship.

Appears in 1 contract

Samples: Share Unit Agreement (Red Hat Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.