Common use of Termination for Cause Other Clause in Contracts

Termination for Cause Other. If prior to the Vesting Date and provided there has been no event of Early Termination, then in the event (a) the Board decides to replace Arpey as the Corporation’s CEO for reasons of Cause or (b) Arpey resigns as CEO for reasons other than Good Reason, each Award made prior to such replacement or resignation will be forfeited in its entirety and this Agreement will terminate immediately.

Appears in 2 contracts

Sources: Career Performance Shares Deferred Stock Award Agreement (Amr Corp), Career Performance Shares Deferred Stock Award Agreement (American Airlines Inc)