Termination by WAL Three Years After Effective Time Sample Clauses

Termination by WAL Three Years After Effective Time. Except as otherwise provided in the Section 7, in the event WAL terminates Stockholder’s service to WAL between the third anniversary and the fifth anniversary of the date of the Effective Time, then WAL shall: (i) provide Stockholder with salary continuation payments equal to Stockholder’s base salary, if any, for the period from the Termination Date through the end of the Protection Period; and (ii) cause the vesting of the Stockholder’s restricted stock awards scheduled to vest on the fifth anniversary of the date of the Effective Time to accelerate as of the date of termination of service. Stockholder shall not receive payments pursuant to this Section in the event WAL terminates Stockholder’s service for any of the following reasons: (a) the loss by the Stockholder of legal capacity; (b) the willful, intentional and material breach or the habitual and continued neglect by the Executive of his duties and responsibilities; (c) the continuous mental or physical incapacity of the Stockholder; (d) the willful and intentional violation of any state or federal banking or securities laws, or of the bylaws, rules, policies or resolutions of WAL or its subsidiaries, or the rules of a regulatory agency or governmental authority having jurisdiction over WAL or its subsidiaries; (e) the written determination by a state or federal regulatory agency or governmental authority that the Stockholder is not suitable to act in the capacity in which he serves WAL; (f) the Stockholder’s conviction of (i) any felony or (ii) a crime involving moral turpitude, or the Stockholder’s willful and intentional commission of a fraudulent or dishonest act; or (g) the Stockholder’s non-insurability for surety bond coverage as determined in the sole discretion of WAL’s insurer at any time. Stockholder’s termination of service to WAL based on Stockholder’s good faith determination of the existence of “good reason” therefor, subject to the right of WAL to cure the
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Related to Termination by WAL Three Years After Effective Time

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Termination After a Change in Control You will receive Severance Benefits under this Agreement if, during the Term of this Agreement and after a Change in Control has occurred, your employment is terminated by the Company without Cause (other than on account of your Disability or death) or you resign for Good Reason.

  • Termination After Change in Control Sections 9.2 and 9.3 set out provisions applicable to certain circumstances in which the Term may be terminated after Change in Control.

  • Termination After Change of Control In the event that, before the expiration of the TERM and in connection with or within one year of a CHANGE OF CONTROL (as defined hereinafter) of either one of the EMPLOYERS, the employment of the EMPLOYEE is terminated for any reason other than JUST CAUSE or is terminated by the EMPLOYEE as provided in Section 4(a)(ii) above, then the following shall occur:

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Employment Status Termination Following Change in Control (a) No benefits shall be payable under this Agreement unless there has been a Change in Control of the Company during the Term. You acknowledge that this Agreement does not constitute a contract of employment or impose on the Company any obligation to retain you as an employee. You may terminate your employment at any time, with or without Good Reason. If your employment with the Company terminates for any reason and subsequently a Change in Control shall have occurred, you shall not be entitled to any benefits hereunder.

  • Deemed Termination A full-time or regular part-time nurse shall lose all service and seniority and shall be deemed to have terminated if the nurse:

  • 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.

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