Common use of Effect of Termination of Continuous Service Clause in Contracts

Effect of Termination of Continuous Service. (a) If the Participant’s Continuous Service terminates for any reason other than the Participant’s (i) Disability, (ii) retirement after attaining age 65, or (iii) failure to be renominated for election to the Board, then the unvested portion of the Restricted Stock granted under this Agreement shall be immediately forfeited and canceled. (b) If the Participant’s Continuous Service terminates as a result of the Participant’s (i) Disability, (ii) retirement after attaining age 65, or (iii) failure to be renominated for election to the Board, then all shares of Restricted Stock granted under this Agreement shall be fully vested on the date the Participant’s Continuous Service terminates.