Common use of Resignation or Termination by the Company Clause in Contracts

Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to a Vesting Date as a result of resignation, dismissal or any other reason, then the portion of the Award that has not previously Vested shall be forfeited automatically; provided that (i) in the event of a termination by a member of the Company Group without Cause or a Good Reason Termination, a portion of the Award equal to the Pro Rata Portion as of the time of termination shall Vest immediately prior to such termination and (ii) in the event that the Employee’s employment termination is a Change of Control Termination, then the entire portion of the Award (or any Replacement Award) that is then not Vested shall become Vested on the date of termination.

Appears in 3 contracts

Samples: Restricted Stock Units Agreement (Xerium Technologies Inc), Rsu and Performance Shares Agreement (Xerium Technologies Inc), Xerium Technologies Inc

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Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to a the Vesting Date as a result of resignation, dismissal or any other reason, then the portion of the this Award that has not previously Vested shall be forfeited automatically; provided that (i) in the event of a termination by a member of the Company Group without Cause or a Good Reason Termination, a portion of the Award equal to the Pro Rata Portion as of the time of termination shall Vest immediately prior to such termination and (ii) in the event that the Employee’s employment terminates prior to the Vesting Date on account of (1) the Employee’s death, (2) Disability, (3) Retirement, (4) termination is by the Company or a Change member of Control the Company Group without Cause, or (5) a Good Reason Termination, then the entire that portion of the Award (or any Replacement Award) that is then not Vested Earned shall become be Vested on the date of terminationtermination and the remaining portion of the Award shall be forfeited automatically.

Appears in 2 contracts

Samples: Agreement (Xerium Technologies Inc), Xerium Technologies Inc

Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to a the Vesting Date as a result of resignation, dismissal or any other reason, then the portion of the this Award that has not previously Vested shall be forfeited automatically; provided that (i) in the event of a termination by a member of the Company Group without Cause or a Good Reason Termination, a portion of the Award equal to the Pro Rata Portion as of the time of termination shall Vest immediately prior to such termination and (ii) in the event that the Employee’s employment terminates prior to the Vesting Date on account of (1) the Employee’s death, (2) Disability, (3) Retirement, (4) termination is by the Company without Cause, or (5) a Change of Control Good Reason Termination, then the entire that portion of the Award (or any Replacement Award) that is then not Vested Earned shall become be Vested on the date of terminationtermination and the remaining portion of the Award shall be forfeited automatically.

Appears in 2 contracts

Samples: Agreement (Xerium Technologies Inc), Zuma360 Software Inc

Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to a Vesting Date as a result of resignation, dismissal or any other reason, then the portion of the Award that has not previously Vested shall be forfeited automatically; provided that (i) in the event of a termination by a member of the Company Group without Cause or a Good Reason Termination, a portion of the Award equal to the Pro Rata Portion as of the time of termination shall Vest immediately prior to such termination and (ii) in the event that the Employee’s employment termination is a Change of Control Termination, then the entire portion of the Award (or any Replacement Awardsubstitute award) that is then not Vested shall become Vested on the date of termination.

Appears in 1 contract

Samples: Restricted Stock Units Agreement (Xerium Technologies Inc)

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Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to a Vesting Date as a result of resignation, dismissal or any other reason, then the portion of the Award Option that has not previously Vested shall be forfeited automatically; provided that (i) in the event of a termination by a member of the Company Group without Cause or a Good Reason Termination, a portion of the Award equal to the Pro Rata Portion as of the time of termination shall Vest immediately prior to such termination and (ii) in the event that the Employee’s employment termination is a Change of Control Termination, then the entire portion of the Award (or any Replacement Awardsubstitute award) that is then not Vested shall become Vested on the date of termination.

Appears in 1 contract

Samples: Option Agreement (Xerium Technologies Inc)

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