Termination/Change of Status. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, other than death or Disability, all Restricted Units for which the forfeiture restrictions have not lapsed prior to the termination of the Grantee’s employment (including, after giving effect to any pro rata lapsing of the forfeiture restrictions as provided for in the penultimate and final sentences of this Section 3) shall be immediately forfeited and Grantee shall have no further rights with respect to such Restricted Units or shares of the Company’s Common Stock that may have been issuable in settlement of such forfeited Restricted Units. In the event that the Grantee’s employment terminates by reason of death or Disability, all Restricted Units shall be deemed vested and, the restrictions under the Plan and this Agreement with respect to the Restricted Units, including the restriction on transfer set forth in Section 4 hereof, shall automatically expire and shall be of no further force or effect as of the date such Xxxxxxx’s employment terminates. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates by reason of Retirement, with the prior approval of the Compensation Committee, or its designee, the forfeiture restrictions with respect to a pro rata portion of the Grantee’s Restricted Units that were scheduled to lapse on the next Vesting Date immediately following the date that the Grantee’s employment terminates shall lapse and such Restricted Units shall be deemed vested as of the date such Xxxxxxx’s employment terminates in a pro rata amount equal to the quotient, expressed as a percentage, resulting from dividing (A) the number of days that have lapsed from the most recent Vesting Date preceding the date that the Grantee’s employment terminated or, if the first Vesting Date has not yet occurred, the number of days that have lapsed from January 17, 2023, and (B) 365 and the Grantee shall be entitled to receive in settlement of such Restricted Units a like number of shares of the Company’s Common Stock. Promptly following the date that the Grantee’s employment terminates as a result of death, Disability or Retirement and, in the case of Retirement, the Compensation Committee, or its designee authorizes as such in accordance with this Section 3, the Company shall issue, or cause the Company’s transfer agent to issue, in the name of the Grantee, a stock cert...
Termination/Change of Status. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, other than death or Disability, all shares of Restricted Stock for which the forfeiture restrictions have not lapsed prior to the date of termination shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock. In the event that the Grantee’s employment terminates by reason of death or Disability all Restricted Stock shall be deemed vested and the restrictions under the Plan and this Agreement with respect to the Restricted Stock shall automatically expire and shall be of no further force or effect, except that the restrictions on transferability set forth in Section 6 hereof resulting from the Company’s participation in the CPP shall continue until such time as such restrictions lapse in accordance with the Treasury’s Interim Final Rule on TARP Standards for Compensation and Corporate Governance, dated June 15, 2009, as amended from time to time (the “Treasury Regulations”).
Termination/Change of Status. (a) In the event that either: (i) Grantee's employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason (other than by reason of death, Disability or Retirement) or (ii) Grantee, for any reason (other than by reason of death, Disability or Retirement), ceases to remain employed by the Company (or any Subsidiary or Affiliate of the Company) in the same position as Grantee holds on the date hereof (or a substantially equivalent or higher position as determined by the Company in its sole discretion), all shares of Restricted Stock that have not vested prior to the date of termination shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock.
Termination/Change of Status. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, other than death or Disability, all shares of Restricted Stock for which the forfeiture restrictions have not lapsed prior to the date of termination shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock. In the event that the Grantee’s employment terminates by reason of death or Disability all Restricted Stock shall be deemed vested and the restrictions under the Plan and this Agreement with respect to the Restricted Stock, including the restriction on transfer set forth in Section 6 hereof, shall automatically expire and shall be of no further force or effect.
Termination/Change of Status. In the event that either: (i) Grantee's employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason or (ii) Grantee, for any reason, ceases to remain employed by the Company (or any Subsidiary or Affiliate of the Company) in the same position as Grantee holds on the date hereof (or a substantially equivalent or higher position as determined by the Company in its sole discretion), all shares of Restricted Stock that have not vested prior to the date of termination or change of status shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock.
Termination/Change of Status. In the event that (i) Grantee's service as a director of the Company terminates for any reason prior to the end of the Restricted Period applicable to any Restricted Shares, or (ii) Grantee has not satisfied the Performance Requirements under Section 4(b) in respect of the Restricted Period relating to the Restricted Shares, the Grantee shall immediately forfeit such Restricted Shares and Grantee shall have no further rights with respect to such Restricted Shares.
Termination/Change of Status. In the event that the Grantee's employment by the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, all shares of Restricted Stock for which the forfeiture restrictions have not lapsed prior to the date of termination shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock.
Termination/Change of Status. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates prior to January 1, 2014 for any reason then, unless the Compensation Committee determines otherwise, the Grantee shall forfeit the Restricted Unit, no shares of Restricted Stock shall be issued to the Grantee pursuant to this Agreement and the Grantee shall have no further rights under this Agreement. In the event that the Grantee’s employment by the Company (or any Subsidiary or Affiliate of the Company) terminates on or after January 1, 2014 for any reason, other than death or Disability, all shares of Restricted Stock for which the forfeiture restrictions have not lapsed prior to the date of termination shall be immediately forfeited and Grantee shall have no further rights with respect to such shares of Restricted Stock. In the event that the Grantee’s employment terminates on or after January 1, 2014 by reason of death or Disability all Restricted Stock to which the Grantee would be entitled to receive pursuant to Section 1(a) and Section 1(c) of this Agreement shall be deemed vested and the restrictions under the Plan and this Agreement with respect to such shares of Restricted Stock shall automatically expire and shall be of no further force or effect.
Termination/Change of Status. Unless otherwise determined by the Compensation Committee or the Board, in the event that the Grantee's ability to serve as a director of the Company (or any Subsidiary or Affiliate of the Company) terminates for any reason, other than death or Disability, all shares of Restricted Stock for which the forfeiture restrictions have not lapsed prior to the date of termination shall be immediately forfeited (along with any cash or stock dividends paid on such shares of Restricted Stock) and the Grantee shall have no further rights with respect to such shares of Restricted Stock or dividends. In the event that the Grantee’s directorship terminates by reason of death or Disability (i) all Restricted Stock shall be deemed vested and the restrictions under the Plan and this Agreement with respect to the Restricted Stock, including the restriction on transfer set forth in Section 6 hereof, shall automatically expire and shall be of no further force or effect and (ii) any dividends previously paid on such shares of Restricted Stock, whether paid in cash or stock, that remain in escrow pursuant to the provisions of Section 4 of this Agreement shall be released from escrow and promptly paid to the Grantee.
Termination/Change of Status i. Team members who terminate employment before completing six (6) months of employment will not be paid accumulated PTO.
