Termination of Employment; Death. (a) The Association's Board of Directors may terminate the Employee's employment at any time, but any termination by the Association's Board of Directors other than termination for cause, shall not prejudice the Employee's right to compensation or other benefits under this Agreement. If the employment of the Employee is involuntarily terminated, other than for "
Termination of Employment; Death. Upon termination of Optionee’s employment with or status as a consultant to, the Company for any reason, the Options will immediately terminate and expire, except as provided in paragraphs (a) or (b) of this Section 5.
Termination of Employment; Death. (a) In the event that the Option Holder shall cease to be an employee of the Corporation or any of its subsidiaries for any reason whatsoever, the Option may be exercised by the Option Holder (to the extent that the Option Holder shall have been entitled to do so as of the date of his termination of employment with the Corporation or any of its subsidiaries) at any time within 365 days after such termination but in any event not later than the date of expiration of the Option term. So long as the Option Holder shall continue to be an employee of the Corporation or any of its subsidiaries, the Option shall not be affected by any change of duties or position. Nothing in this Option Agreement shall confer upon the Option Holder any right to continue as an employee of the Corporation or any of its subsidiaries.
Termination of Employment; Death. (a) The Board of Directors may terminate the Employee's employment at any time, but any termination by the Association's Board of Directors, other than termination for cause, shall not prejudice the Employee's right to compensation or other benefits under the Agreement. If the employment of the Employee is involuntarily terminated, other than (i) for "cause" as provided in this Section 6(a) or (ii) by reason of death or disability as provided in Sections 6(c) or 7, or if there occurs a voluntary or involuntary termination of the Employee's employment as defined in Section 8 in connection with or within 12 months after a change in control which occurs at any time during the term of this Agreement as provided in Section 8, the Employee shall be entitled to receive, (i) his then applicable salary for the remaining term of the Agreement as calculated in accordance with Section 4 hereof, payable in such manner and at the times as such salary would have been payable to the Employee under Section 2 had he remained in the employ of' the Association, (ii) his then applicable health insurance benefits for the remaining term of the Agreement as calculated in accordance with Section 4 hereof, and (iii) his bonus determined on an annualized basis for the period commencing on the first day of the fiscal year in which such termination occurs and ending as of the month end closest to date of termination in such fiscal year, which bonus shall be payable at such time as it would have been payable under Section 2(b) had he remained in the employ of the Association.
Termination of Employment; Death. (a) The Company may terminate the Employee's employment at any time, but any termination by the Company other than termination for cause, shall not prejudice the Employee's right to compensation or other benefits under this Agreement. If the employment of the Employee is involuntarily terminated, other than for "
Termination of Employment; Death. In the event of Participant’s death, this Option shall terminate on the earlier of (i) one (1) year following the date of the Participant’s death, and (ii) the Expiration Date of this Option stated in Paragraph 2(a) above. In such period following Participant’s death, this Option shall be fully exercisable by the person or persons to whom Participant’s rights under this Option shall have passed by Participant’s will or by the laws of descent and distribution (but only to the extent it had not previously been exercised). If such person or persons do not exercise this Option within the time specified in this Paragraph 2(e), all rights under this Option shall be forfeited.
Termination of Employment; Death. (a) Should Grantee’s employment or service with the Company or one of its subsidiaries terminate for any reason other than by reason of death during the Restriction Period, Grantee will forfeit all of the Deferred Stock as to which the Restriction Period has not expired on or before the effective date of such termination.
Termination of Employment; Death. (a) The Board of Directors may terminate the Employee’s employment at any time, but any termination by the Bank’s Board of Directors, other than termination for cause, shall not prejudice the Employee’s right to compensation or other benefits under the Agreement. If the employment of the Employee is involuntarily terminated, other than for “cause” as provided in this Section 6 (a) or pursuant to any of Sections 6 (d) through 6 (g), or by reason of death or disability as provided in Sections 6 (c) or 7, the Employee shall be entitled to receive, (i) his then applicable salary for the then-remaining term of the Agreement as calculated in accordance with Section 4 hereof, payable in such manner and at such times as such salary would have been payable to the Employee under Section 2 had he remained in the employ of the Bank, and (ii) health insurance benefits as maintained by the Bank for the benefit of its senior executive employees or its employees generally over the then-remaining term of the Agreement as calculated in accordance with Section 4 hereof.
Termination of Employment; Death. If there is a Termination of Service of the Holder by reason of death, this Nonqualified Stock Option shall be exercisable by the Holder's legal representatives, legatees, or distributes for one (1) year following the date of the Termination of Service, to the extent this Nonqualified Stock Option is exercisable on the date of such Termination of Service, and thereafter this Nonqualified Stock Option shall terminate and cease to be exercisable.
Termination of Employment; Death. 4.1 Upon termination of the Optionee's status as an employee of the Company for any reason (including death), the Option shall terminate and expire except as provided in Section 1.2, 4.2 or 4.3 of this Agreement.
