Ceasing to Serve as Employee Sample Clauses

Ceasing to Serve as Employee. In the event the Grantee ceases to serve as an employee of the Company, a Subsidiary or a Division for any reason other than as a result of his or her death, Disability or Retirement, the Grantee shall (i) forfeit the shares of Restricted Stock that are not vested and shall have no rights with respect thereto, and (ii) retain all shares of Restricted Stock that are vested, free and clear of the Transfer Restrictions. In the event the Grantee ceases to serve as an employee of the Company, a Subsidiary or a Division by reason of the Grantee’s death, Disability or Retirement, any shares of Restricted Stock that have not vested shall become immediately vested and free and clear of the Transfer Restrictions. Notwithstanding the foregoing, (x) if the Grantee’s employment is terminated by the Company, a Subsidiary or a Division other than for Cause within the one (1) year period following a Change in Control, (y) the Grantee resigns from employment with the Company, a Subsidiary or a Division for Good Reason within the one (1) year period following a Change in Control or (z) the Grantee’s termination is a Change in Control Related Termination, any shares of Restricted Stock that have not vested shall become immediately vested and free and clear of the Transfer Restrictions.
Sample 1
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Ceasing to Serve as Employee. In the event the Grantee ceases to serve as an employee of the Company, a Subsidiary or a Division for any reason other than as a result of his or her death, Disability or Retirement, the Grantee shall (i) forfeit the shares of Restricted Stock that are not vested and shall have no rights with respect thereto, and (ii) retain all shares of Restricted Stock that are vested, free and clear of the Transfer Restrictions. In the event the Grantee ceases to serve as an employee of the Company, a Subsidiary or a Division by reason of the Grantee’s death, Disability or Retirement, any shares of Restricted Stock that have not vested shall become immediately vested and free and clear of the Transfer Restrictions; provided, solely for purposes of this Agreement, the Grantee will not be deemed to have met the requirements for Retirement unless such event occurs at least one (1) year following the Grant Date. Notwithstanding the foregoing, (w) if the Grantee’s employment is terminated by the Company, a Subsidiary or a Division other than for Cause or Disability at any time on or following the date the Grantee attains age 60, (x) if the Grantee’s employment is terminated by the Company, a Subsidiary or a Division other than for Cause or Disability within the one (1) year period following a Change in Control, (y) the Grantee resigns from employment with the Company, a Subsidiary or a Division for Good Reason within the one (1) year period following a Change in Control or (z) the Grantee’s termination or resignation is a Change in Control Related Termination, any shares of Restricted Stock that have not vested shall become immediately vested and free and clear of the Transfer Restrictions.
Sample 1

Related to Ceasing to Serve as Employee

  • Termination of Relationship as a Service Provider If the Optionee ceases to be a Service Provider (other than for death or Disability), this Option may be exercised for a period of three (3) months after the date of such termination (but in no event later than the expiration date of this Option as set forth in the Notice of Grant) to the extent that the Option is vested on the date of such termination. To the extent that the Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Continue to Perform After Resignation or Removal No resignation or removal of the Asset Representations Reviewer will be effective, and the Asset Representations Reviewer will continue to perform its obligations under this Agreement, until a successor Asset Representations Reviewer has accepted its engagement according to Section 5.3(b).

  • Termination of Status as an Employee If the Optionee ceases to serve as an Employee for any reason other than death or for Cause (as defined in the Plan) and thereby terminates his status as an Employee, the Optionee shall have the right to exercise this Option at any time within ninety (90) days following the date of such termination, to the extent that the Optionee was entitled to exercise the Option at the date of such termination, but in no event after the expiration of the term of the Option set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to death, this Option may be exercised at any time within one (1) year following the date of death by the Optionee's executor or administrator or the person or persons who shall have acquired the Option by bequest or inheritance but only to the extent the Optionee was entitled to exercise this option at the date of death. To the extent that the Optionee was not entitled to exercise the Option at the date of termination or death, or to the extent the Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be exercisable after the expiration of the term set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to termination of his employment by the Company for cause (as defined in the Plan), this Option shall cease to be exercisable ten (10) days following the date the notice of such termination is delivered to the Optionee.

  • No Obligation to Continue Employment Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Grantee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Grantee at any time.

  • No Obligation to Continue Service Relationship Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Award Agreement to continue the Grantee in employment or other service relationship and neither the Plan nor this Award Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment or other service relationship of the Grantee at any time.

  • Termination of Service Relationship If the Optionee’s Service Relationship terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below.

  • Effect of Termination of Service on Restricted Stock Award 10.1 This Restricted Stock Award will vest as follows:

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • Termination of Relationship If Optionee terminates Continuous Status --------------------------- as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Effect of Termination of Service Except as otherwise provided in accordance with Section 4(b) above, if you cease to be a Service Provider, you will forfeit all unvested Units.

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