Common use of Statutory Leave of Absence Clause in Contracts

Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares (but not later than the Option expiration date)] during a leave of absence that is approved by management of Participant’s business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a “statutory leave of absence”). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and [unvested][unexercised] Option shares]][deferred cash award] will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of Section 6(j), (k), or (l)], then such applicable provisions of this Section 6 will apply. [For purposes of Section 6(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant’s employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Award Agreement (Citigroup Inc)

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Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares (but not later than the Option expiration date)] ) during a leave of absence that is approved by management of Participant’s 's business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and [unvested][unexercised] unexercised Option shares]][deferred cash award] shares will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of Section 6(j5(j), (k), or (l)], then such applicable provisions of this Section 6 5 will apply. [For purposes of Section 6(j5(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant’s 's employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Equity Award Agreement (Citigroup Inc)

Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares (but not later than the Option expiration date)] during a leave of absence that is approved by management of Participant’s business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a “statutory leave of absence”). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and [unvested][unexercised] unexercised Option shares]][deferred shares][deferred cash award] will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of Section 6(j), (k), or (l)], then such applicable provisions of this Section 6 will apply. [For purposes of Section 6(j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant’s employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Award Agreement (Citigroup Inc)

Statutory Leave of Absence. The Award will continue to vest [and Participant may continue to exercise vested Option shares during an approved leave of absence under the Family Medical Leave Act of 1993, military leave, or other statutory leave of absence (but not later than the Option expiration date)] during a , provided that such leave of absence that is approved by management of Participant’s 's business unit, is provided by applicable law and taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and [unvested][unexercised] unexercised Option shares]][deferred cash award] shares will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant terminates employment for any reason during an approved statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of Section 6(jparagraphs (j), (k), or (l)], then such applicable provisions paragraph of this Section 6 5 will apply. [For purposes of Section 6(jparagraphs (j), (k) and (l), if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant’s 's employment will be deemed to have terminated as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Award Agreement (Citigroup Inc)

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Statutory Leave of Absence. The Award Unvested shares [Option shares] will continue to vest [and Participant may continue to exercise vested Option shares (but not later than the Option expiration date)] on schedule subject to all other provisions of this Agreement during a leave of absence that is approved by management of Participant’s 's business unit, is provided by applicable law and is taken in accordance with such law and applicable Company policy (a "statutory leave of absence"). If a statutory leave of absence is followed without interruption by an approved personal leave of absence, any unvested [restricted or deferred stock [and [unvested][unexercised] Option shares]][deferred cash award] will be canceled as of the date that the combined leaves, if continuous, have exceeded six months. If Participant Participant's employment terminates employment for any reason specified elsewhere in this Section [6] during an approved a statutory leave of absence[, or if on or prior to such time Participant satisfies the conditions of Section 6(j[6](i), (k), j) or (lk)], then such applicable provisions other provision of this Section 6 [6] will apply. [For these purposes of Section 6(j), (k) and (l)only, if a statutory leave of absence is followed without interruption by an approved personal leave of absence, Participant’s employment Participant will be deemed to have voluntarily terminated his or her employment pursuant to Section [6](a) [(or Section [6](j) or (k), if applicable)] as of the date that the combined leaves exceed six months.]

Appears in 1 contract

Samples: Award Agreement (Citigroup Inc)

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