Separation definition
Examples of Separation in a sentence
Notwithstanding the vesting schedule set forth in Paragraph 3, in the event of the Participant’s Separation from Service because of death or Disability during the Period of Restriction, the Period of Restriction applicable to the remaining unvested Restricted Stock Units shall automatically terminate (that is, the unvested Restricted Stock Units shall “vest”) as of the date of such Separation from Service, which date shall be the “Vesting Date” for the purposes of settlement of the Award.
Notwithstanding the foregoing, in the event of a Participant’s Separation from Service due to death or Disability during the Performance Period, the Company shall pay the total amount of cash amount earned within sixty (60) days following such Separation from Service.
During the time between the Effective Date and the Separation Date (the “Transition Period”), Consultant agrees, and shall use its best efforts, to provide the services set forth in Exhibit A hereto, as may be requested, required, or amended, from time to time, by the Company (the “Services”).
Consultant shall be entitled to reimbursement for all reasonable business expenses incurred through the Separation Date that were preapproved in writing by the Company, in accordance with the Company’s expense reimbursement policy.
Upon presentment by Consultant of appropriate and sufficient documentation, the Company shall reimburse Consultant for all such expenses within thirty (30) days following the later of (i) the Separation Date or (ii) timely submission of proper documentation in accordance with Company policy (but in no event later than the last day of the calendar year following the calendar year in which Consultant incurred the reimbursable expense).