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.
Effect of Termination of Service. The Director’s Stock Units shall terminate to the extent such units have not become vested prior to the first date the Director is no longer a member of the Board, regardless of the reason for the termination of the Director’s service as Board member (whether voluntarily or involuntarily, including a termination due to death or disability). If any unvested Stock Units are terminated hereunder, such Stock Units shall automatically terminate and be cancelled as of the applicable termination date without payment of any consideration by the Corporation and without any other action by the Director, or the Director’s beneficiary or personal representative, as the case may be.
Effect of Termination of Service. Except as may be otherwise provided in this Agreement, unless the Administrator determines otherwise, in the event that the Service of the Participant is terminated by the Company for Cause, or by the Participant other than for Good Reason, and all or part of the Award has not vested pursuant to the terms hereof, then the Award, to the extent not vested as of the Participant’s Termination Date, shall be forfeited immediately upon such termination, and the Participant shall have no further rights with respect to the Award or the Shares underlying that portion of the Award that has not yet vested. In such event, (a) any Unvested Shares shall be returned to the Company and the Company shall become the legal and beneficial owner of such Unvested Shares and the Participant shall not be the legal or beneficial owner of such Unvested Shares (without the payment by the Company of any consideration for such Shares) as of the Participant’s Termination Date; and (b) any Vested Shares held by such Participant (or other person) shall continue to be subject to such transfer and other restrictions as may apply under the terms of this Agreement (including but not limited to Section 12 herein) and/or the Operating Agreement. The Participant expressly acknowledges and agrees that the termination of the Participant’s Service by the Participant other than for Good Reason or by the Company for Cause shall result in forfeiture of the Award and the corresponding Shares to the extent the Award has not vested as of the Participant’s Termination Date. Should the Company terminate the Service of the Participant for reasons other than Cause, the Participate terminate the Participant’s Service for Good Reason or the Participant’s Service terminate due to the Participant’s Disability or death, all Unvested Shares owned by the Participant as of immediately prior to such termination shall be deemed to have vested as of such time. In such event, any Vested Shares held by the Participant (or any transferee of the Participant) shall continue to be subject to such transfer and other restrictions as may apply under the terms of this Agreement (including but not limited to Section 12 herein) and/or the Operating Agreement. Notwithstanding Section 3.01(d) of the Operating Agreement, should the Participant’s Service be terminated due to the Participant’s Disability or death, then the Award shall fully vest upon the Participant’s death or satisfaction of the conditions set forth in the definition...
Effect of Termination of Service. 1. The following provisions shall govern the exercise of any options held by the Optionee at the time of cessation of Service or death:
Effect of Termination of Service. Except as otherwise provided in Section 7.3 above or by the Committee and set forth in the Award Agreement evidencing a Restricted Stock Unit Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary, then the Participant shall forfeit any Restricted Stock Units that remain subject to vesting conditions as of the date of the Participant’s termination of Service.
Effect of Termination of Service. Notwithstanding any contrary provision of this Agreement, upon Participant’s Termination of Service for any or no reason (other than Participant’s death or permanent disability, as described in Section 2.5 above) prior to the Valuation Date, all rights with respect to any unpaid Performance Shares awarded pursuant to this Agreement shall automatically and without further action be cancelled and forfeited by Participant, and Participant shall not be entitled to any payments or benefits with respect thereto.
Effect of Termination of Service. In the event of the Participant’s termination of employment and service with XXXXX, the Company and their Subsidiaries for any reason, all RSUs that have not vested as of the date of such termination of employment or service (after taking into account any accelerated vesting that occurs in connection with such termination) shall automatically and without further action be cancelled and forfeited without payment of any consideration therefor, and the Participant shall have no further right to or interest in such RSUs.
Effect of Termination of Service. In the event that the Participant incurs a Qualifying Termination, the RSUs shall vest in full as of immediately prior to such Qualifying Termination. In the event of the Participant’s termination of employment and service with XXXXX, the Company and their Subsidiaries for any reason (other than a Qualifying Termination), all RSUs that have not vested as of the date of such termination of employment or service (after taking into account any accelerated vesting that occurs in connection with such termination) shall automatically and without further action be cancelled and forfeited without payment of any consideration therefor, and the Participant shall have no further right to or interest in such RSUs. The benefits provided by this Section 4(b) are subject to the condition that the Participant (or , in the event of the Participant’s death or Disability, the Participant’s estate or personal representative, as the case may be) timely execute and not revoke a written release of claims against XXXXX, the Company and their Subsidiaries in the form attached as Exhibit A to the Employment Agreement (a “Release”). Such signed Release must be delivered to the Company on or within sixty (60) days following the date of such Qualifying Termination. If the date for signing the Release spans two calendar years, then the Shares that are otherwise due upon vesting of the RSUs shall not be issued prior to the first day of the second such calendar year. 5.
Effect of Termination of Service. In the event of the Participant’s Termination of Service for any reason other than as described in Section 4(b) or (c) above, any and all Profits Interest Units that have not vested as of the date of such Termination of Service (after taking into account any accelerated vesting that occurs in connection with such termination) will thereupon automatically and without further action be cancelled and forfeited without payment of any consideration therefor, and the Participant shall have no further right or interest in or with respect to such Profits Interest Units. In the event of the Participant’s Termination of Service as described in Section 4(b) or (c) above, any and all Profits Interest Units that have not vested on or prior to the fifty-fifth (55th) day following the date of such Termination of Service (after taking into account any accelerated vesting that occurs in connection with such termination) will thereupon automatically and without further action be cancelled and forfeited without payment of any consideration therefor, and the Participant shall have no further right or interest in or with respect to such Profits Interest Units. Except as expressly provided in Section 4(b) or (c) above, in any applicable plan, program or policy of the Company, the Partnership or any Subsidiary or in any employment agreement, employment offer letter or other agreement between the Participant and the Company, the Partnership or any Subsidiary, no Profits Interest Units which have not vested as of the date of the Participant’s Termination of Service shall thereafter become vested.
Effect of Termination of Service. Except in the case of your termination due to death or Disability (as defined in the French Sub-Plan), the restrictions described in provisions (a), (b) and (c) above will continue to apply even if you are no longer an employee or managing corporate officer of the Company or a French Entity (as defined in the French Sub-Plan).
