Examples of Separation from Service in a sentence
The remaining twenty-four (24) monthly payments shall be paid to the Executive in twenty-four (24) separate payments on the first day of twenty-four (24) successive calendar months, with the first payment occurring on the first day of the seventh calendar month beginning after the date of the Executive’s Separation from Service.
The first six monthly payments shall be paid to the Executive in a lump sum within 30 days following his Separation from Service.
The lump sum shall be paid within thirty (30) days after the effective date of the Executive’s Separation from Service or, if the Section 409A Change in Control occurs after the Executive’s Separation from Service, within thirty (30) days after such Section 409A Change in Control.
Unless otherwise provided under an Award Agreement and to the extent permitted under applicable law, if a Grantee incurs a Separation from Service, the Grantee will forfeit, and the Company will annul and cancel, the unvested portion of any Award, without consideration.
The Board will determine the effect of a Separation from Service on Awards, and such effect may be set forth in the applicable Award Agreement.