Effect of Termination on Change of Control, without Cause, Disability or Death on Vesting Sample Clauses

Effect of Termination on Change of Control, without Cause, Disability or Death on Vesting. In the event of the Awardee’s termination of employment in connection with a Change of Control (as defined in the Employment Agreement) under the circumstances and to the extent provided in Sections 2.4(c)(ii) or 2.4(d) of the Employment Agreement, all of the Shares described in Section 2 above shall vest and become immediately free of restrictions. In the event of the Awardee’s involuntary termination of employment with the Company without Cause (as defined in the Employment Agreement), other than by reason of death or disability, during the Restriction Period, a pro rata portion (based upon the percentage of the period from January 1, 2003 through January 1, 2006 which has elapsed prior to the Awardee’s involuntary termination) of 50% of all of the Shares described in Section 2 above shall vest and become immediately free of restrictions. In the event of the death or disability of the Awardee while employed with the Company during the Restriction Period, a pro rata portion (based upon the percentage of the period from January 1, 2003 through January 1, 2006 which has elapsed prior to the Awardee’s death or disability) of all of the Shares described in Section 2 above shall vest and become immediately free of restrictions.
Sample 1
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Related to Effect of Termination on Change of Control, without Cause, Disability or Death on Vesting

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • 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 Employment The provisions of this Section 6 shall apply in the event of termination of Executive’s employment, pursuant to Section 5, or otherwise.

  • Termination of Service for Cause Unless the Option has earlier terminated pursuant to the provisions of this Option Grant Agreement or the Plan, all unexercised portions of the Option, whether vested or unvested, will terminate and be forfeited upon a termination of the Grantee’s Service for Cause. For purposes of this Option Grant Agreement only, “Cause” shall be defined as any of the following:

  • Involuntary Termination Without Cause In the event of the Participant’s involuntary Termination by the Company without Cause, the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination, and (ii) the expiration of the stated term of the Option pursuant to Section 3(d) hereof.

  • Termination of Employment Due to Death or Disability If the Executive’s employment is terminated at any time due to his or her death or Disability, this Agreement shall terminate without further obligation by the Company to the Executive, other than the obligation to pay the Accrued Obligations to the Executive or his or her legal representatives.

  • Termination by Death or Disability In the event of the death of EMPLOYEE or the inability of EMPLOYEE to perform the obligations described in this Agreement with or without accommodation by reason of disability or some other occurrence beyond the control of either party, and such inability to perform has continued or will continue beyond a reasonable period of time, but not less than 60 days, this Agreement shall terminate as a termination with cause and all future obligations between the parties shall cease upon the termination date reasonably established by LSU, unless otherwise required by law.

  • TERMINATION FOR DISABILITY OR DEATH (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if: (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and (c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

  • Effect of Termination for Cause If Employee's employment is terminated "For Cause":

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