Termination of Employment or Service. (a) If the Participant ceases employment or service to the Company and its Subsidiaries for any reason prior to the end of the Performance Period (except following a Change in Control as described in Section 4(b) above), the Units shall be immediately canceled and the Participant shall thereupon cease to have any right or entitlement to receive any shares of Common Stock under the Award.
Appears in 6 contracts
Samples: Term Performance Unit Award Agreement (Wendy's Co), The Wendy’s Company (Wendy's Co), The Wendy’s Company (Wendy's Co)
Termination of Employment or Service. (a) If the Participant ceases employment or service to the Company and its Subsidiaries subsidiaries for any reason prior to the end of the Performance Period (except following a Change in Control as described in Section 4(b) above)Period, the Units shall be immediately canceled and the Participant shall thereupon cease to have any right or entitlement to receive any shares of Common Stock Shares under the Award.
Appears in 4 contracts
Samples: Term Performance Unit Award Agreement (Wendy's Restaurants, LLC), Long Term Performance Unit Award Agreement (Wendy's/Arby's Group, Inc.), Long Term Performance Unit Award Agreement (Wendy's/Arby's Restaurants, LLC)
Termination of Employment or Service. (a) If the Participant ceases employment or service to the Company and its Subsidiaries for any reason prior to the end of the Performance Period (except following a Change in Control as described in Section 4(b) above)Period, the Units shall be immediately canceled and the Participant shall thereupon cease to have any right or entitlement to receive any shares of Common Stock under the Award.
Appears in 3 contracts
Samples: Term Performance Unit Award Agreement (Wendy's Co), The Wendy’s Company Long Term Performance Unit Award Agreement (Wendy's Co), Term Performance Unit Award Agreement (Wendy's Co)
