Forfeiture on Termination Sample Clauses

Forfeiture on Termination. Subject to Section 3, if the Grantee's employment with the Corporation terminates for any reason prior to the Vesting Date for awarded Performance Shares, the Grantee shall forfeit all rights with respect to the shares included in that award, and the certificates evidencing such shares shall be null, void and of no effect as of the date his/her employment terminates. Such shares shall revert to the Corporation as stock and may, in the sole discretion of the Corporation, be cancelled or retained as treasury stock.
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Forfeiture on Termination. Subject to Section 2 of this Agreement, if the Grantee’s service as a Director terminates for any reason prior to the Vesting Date for the shares of Restricted Stock, the Grantee shall forfeit all rights with respect to such unvested shares of Restricted Stock, and the book entry account shall be null, void and of no effect as of the date the Grantee’s service as a Director terminates.
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Forfeiture on Termination. Subject to Section 4 of this Agreement, if the Participant's employment with the Company terminates for any reason prior to the Vesting Date, the Participant shall forfeit all rights with respect to all unvested Shares, as of the date the Participant's employment terminates.
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Forfeiture on Termination. If Participant ceases to be a Service Provider as a result of termination for Cause, all shares of Restricted Stock, which are not Vested Shares and for which the Period of Restriction has not lapsed prior to the date the Participant ceases to be a Service Provider, will be forfeited, and Participant shall have no further rights with respect to such unvested Shares of Restricted Stock. If Participant ceases to be a Service Provider as a result of any reason other than a termination for Cause, all shares of Restricted Stock which are not Vested Shares and for which the Period of Restriction has not lapsed prior to the date the Participant ceases to be a Service Provider, will not be forfeited but will continue to be governed by the terms of this Agreement and the Plan.
Sample 1

Related to Forfeiture on Termination

  • Term; Termination; Rights on Termination The term of this Agreement shall begin on the date hereof and continue for three (3) years, and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal (such initial three year period and any extensions thereof being referred to herein as the "Term"). This Agreement and Employee's employment may be terminated in any one of the following ways:

  • Rights on Termination Upon termination of this Agreement:

  • Compensation on Termination (a) If this Project Agreement is terminated pursuant to Sections 34.3(a), 35.2(a)(ii), 36.1, 36.2 or 36.3, then:

  • On Termination (a) An employee who voluntarily terminates his employment will be provided his final pay on the next regular payday.

  • Survival on Termination The following Paragraphs and Articles shall survive the termination of this Agreement:

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • Duties on Termination If the Executive's termination of employment with the Company occurs during the Employment Period, then, subject to the terms and conditions of this Agreement, during the period beginning on the date of delivery of a notice of termination, and ending on the date of termination, the Executive shall continue to perform his duties as set forth in this Agreement, and shall also perform such services for the Company as are necessary and appropriate for a smooth transition to the Executive's successor, if any. Notwithstanding the foregoing provisions of this paragraph 8, the Company may suspend the Executive from performing his duties under this Agreement following the delivery of a notice of termination providing for the Executive's resignation, or delivery by the Company of a notice of termination providing for the Executive's termination of employment for any reason; provided, however, that during the period of suspension (which shall end on the Executive's date termination), the Executive shall continue to be treated as employed by the Company for other purposes, and his rights to compensation or benefits shall not be reduced by reason of the suspension.

  • PAYMENTS AND BENEFITS UPON TERMINATION (a) If within eighteen (18) months after a Change in Control, the Company terminates Employee's employment other than by reason of Employee's death, Disability, Retirement or for Cause, or if Employee terminates Employee's employment for Good Reason, then the Employee shall be entitled to the following payments and benefits:

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

  • Limitations on Termination Except as provided in Section 9.1, neither the Seller nor the Certificateholders shall be entitled to revoke or terminate the Issuer.

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