Common use of Employee Status Clause in Contracts

Employee Status. For purposes of determining the applicability of Code section 422 (relating to Incentive Stock Options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination of Employment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment.

Appears in 5 contracts

Samples: Russian Wireless Telephone Co Inc, Blimpie International Inc, Mikron Instrument Co Inc

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Employee Status. For purposes of determining the applicability of --------------- Section 422A of the Code section 422 (relating to Incentive Stock Optionsincentive stock options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination termination of Employmentemployment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment.

Appears in 3 contracts

Samples: United Financial Banking Companies Inc, United Financial Banking Companies Inc, Equifax Inc

Employee Status. For purposes of determining the applicability of Section 422 of the Code section 422 (relating to Incentive Stock Options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination termination of Employmentemployment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, disability or other reasons shall not be deemed interruptions of continuous employment.

Appears in 1 contract

Samples: Perardua Corp

Employee Status. For purposes of determining the applicability of Code --------------- section 422 (relating to Incentive Stock Options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination of Employment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment.

Appears in 1 contract

Samples: Blimpie International Inc

Employee Status. For purposes of determining the applicability of Code section 422 (relating to Incentive Stock Optionsincentive stock options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Stock, Performance Shares or Performance Shares Units may become vested or earned only during employment or within a specified period of time after Termination termination of Employmentemployment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment.

Appears in 1 contract

Samples: Omnibus Stock Incentive Plan (Bb&t Corp)

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Employee Status. For purposes of determining the applicability of Section 422 of the Code section 422 (relating to Incentive Stock Optionsincentive stock options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination termination of Employmentemployment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions of continuous employment.. ARTICLE VIII

Appears in 1 contract

Samples: Mainstreet Bankgroup Inc

Employee Status. For purposes of determining the applicability of Code --------------- section 422 (relating to Incentive Stock Optionsincentive stock options), or in the event that the terms of any Option or SAR provide that it may be exercised or that awards of Restricted Shares Stock or Performance Shares may become vested or earned only during employment or within a specified period of time after Termination termination of Employmentemployment, the Committee may decide to what extent leaves of absence for governmental or military service, illness, temporary disability, or other reasons shall not be deemed interruptions interruption of continuous employment.

Appears in 1 contract

Samples: Southern National Corp /Nc/

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