Examples of Permitted Reason in a sentence
If Purchaser ceases to be an Employee of the Company for a Permitted Reason, the Company shall purchase the Unvested Stock as hereinafter provided.
Following the Purchaser's termination of Service for other than a Permitted Reason, as defined in Section 5.3(b) below, the Company shall have the right, but not the obligation, to purchase all or any portion of the vested Shares of the Purchaser at any time within 12 months following such termination of Service.
They are subject to a Restriction Period that will end on 30 June 2016, during which time the GE Telstra Wholesale is entitled to earn dividends on, and exercise votes attached to, the Restricted Shares.If the GE Telstra Wholesale leaves Telstra before the end of the three year Restriction Period for any reason, other than a Permitted Reason (STI), the Restricted Shares will be forfeited.
If he leaves for a Permitted Reason (STI) he will retain the Restricted Shares.This Plan contains the same clawback provisions as the FY14 STI Deferral Plan for other Senior Executives.In lieu of participation in the Senior Executive FY14 LTI Plan the GE Telstra Wholesale will be allocated Restricted Shares based on his performance against his FY14 STI Plan measures, namely Wholesale Total Income, Wholesale EBITDA, Wholesale NPS and individual performance.
Until the Performance Rights vest as Restricted Shares, a Senior Executive has no legal or beneficial interest in Telstra shares, no entitlement to receive dividends and no voting rights in relation to any securities granted under the FY14 LTI Plan.If a Senior Executive leaves Telstra for any reason other than a Permitted Reason (LTI), any unvested Performance Rights lapse.