Effect of Termination of Continuous Service Contract Clauses (12)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Effect of Termination of Continuous Service clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Effect of Termination of Continuous Service. If a grantee's Continuous Service (as defined below) to the Company and all Related Corporations ends for any reason other than by reason of death or disability as defined in Section 10, then unless otherwise specified in the instrument granting such Stock Right, the grantee shall have the continued right to exercise any Stock Right held by him or her, to the extent of the number of shares with respect to which he or she could have exercised it on the date of termination until the Stock Right's ...specified expiration date; provided, however, in the event the grantee exercises any ISO after the date that is three months following the date of termination of such grantee's employment, such ISO will automatically be converted into an NSO subject to the terms of the Plan. The Committee may provide in an award agreement that a grantee's right to exercise a Stock Right will end immediately upon the date of termination of Continuous Service if such termination is For Cause (as defined below). (a) As used herein, the term "Continuous Service" means the provision of services to the Company or a Related Corporation in any capacity of employee, director or consultant that is not interrupted or terminated. A grantee's Continuous Service will be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the grantee provides services ceasing to be a Related Corporation. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence (as described below), (ii) transfers among the Company, any Related Corporation, or any successor in any capacity of employee, director or consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Corporation in any capacity of employee, director or consultant (provided, however that a change in status from an employee to consultant may cause an ISO to become an NSO under the Code). ISOs granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, so long as the optionee continues to be an employee of the Company or any Related Corporation. (b) Continuous Service shall be considered as continuing uninterrupted during any bona fide leave of absence (such as those attributable to illness, military obligations or other authorized personal leave) where there is a reasonable expectation that the grantee will return to provide services for the Company or a Related Corporation, and provided that the period of such leave does not exceed 90 days or, if longer, any period during which such grantee's right to reemployment with the Company is guaranteed by statute or by contract. NOTHING IN THE PLAN SHALL BE DEEMED TO GIVE ANY GRANTEE OF ANY STOCK RIGHT THE RIGHT TO BE RETAINED IN EMPLOYMENT OR OTHER SERVICE BY THE COMPANY OR ANY RELATED CORPORATION FOR ANY PERIOD OF TIME OR TO AFFECT THE AT-WILL NATURE OF ANY EMPLOYEE'S EMPLOYMENT. View More
Found in Benefitfocus,Inc. contract
Effect of Termination of Continuous Service. If a grantee's grantee ceases to provide Continuous Service (as defined below) to the Company and all Related Corporations ends for any reason Affiliates other than (x) by reason of death or disability Disability as defined in Section 10, or (y) by reason of a termination for "Cause" as defined in this Section 9, then unless otherwise specified in the instrument granting such Stock Right, the grantee shall have the continued right to exercise any Stock Right held by him or her, to the extent of ...the number of shares with respect to which he or she could have exercised it on the date of termination until the Stock Right's specified expiration date; provided, however, in the event the grantee exercises any ISO after the date that is three months following the date of termination of such grantee's employment, such ISO will automatically be converted into an NSO subject to the terms of the Plan. The Committee may provide in an award agreement that In the event of a grantee's termination for Cause (as defined below), the right of a grantee to exercise a Stock Right will end immediately upon shall terminate as of the date of termination of Continuous Service if such termination is For Cause (as defined below). termination. (a) As used herein, the term "Continuous Service" means the provision of services to the Company or a Related Corporation an Affiliate in any capacity of employee, director director, contractor, or consultant that is not interrupted or terminated. A grantee's Continuous Service will be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the grantee provides services ceasing to be a Related Corporation. an Affiliate. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence (as described below), (ii) transfers among the Company, any Related Corporation, an Affiliate, or any successor in any capacity of employee, director director, contractor, or consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Corporation an Affiliate in any capacity of employee, director director, contractor, or consultant (provided, however that a change in status from an employee to contractor or consultant may cause an ISO to become an NSO under the Code). ISOs granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, its Affiliates, so long as the optionee continues to be an employee of the Company or any Related Corporation. Affiliate. (b) An approved leave of absence for purposes of determining Continuous Service shall be considered as continuing uninterrupted during will include any bona fide leave of absence (such as those attributable to illness, military obligations or other authorized personal leave) where there is a reasonable expectation that the grantee will return to provide services for the Company or a Related Corporation, and provided that the period of such leave does not exceed 90 days or, six (6) months, or if longer, any period during which such grantee's right to reemployment with the Company is guaranteed by statute or by contract. (c) For purposes of this Plan, and unless otherwise defined in the instrument granting a Stock Right, "Cause" means: (i) if a grantee has a then-effective employment agreement, consulting agreement, service agreement or other similar agreement with the Company or any Affiliate that defines "Cause" or a like term, the meaning set forth in such agreement at the time of the grantee's termination of Continuous Service; or (ii) in the absence of such an agreement or definition, the termination of a grantee's Continuous Service for any of the following reasons, as determined by the Committee: (A) the grantee's breach of any fiduciary duty to the Company or any Affiliate; (B) the grantee's failure to follow the reasonable instructions of the Board or such grantee's direct supervisor, which breach, if curable, is not cured within ten (10) days after notice to such grantee or, if cured, recurs within one hundred eighty (180) days; (C) the grantee's willful misconduct, fraud, embezzlement, or acts of dishonesty relating to the Company or any Affiliate; (D) the grantee's material breach of any noncompetition, confidentiality or similar agreement with the Company or an Affiliate, as determined under such agreement; (E) the grantee's commission of a crime involving fraud, embezzlement, theft, or other act constituting a felony; or (F) a grantee who is an employee, contractor, or consultant and who engages in acts or omissions constituting gross negligence, misconduct or a willful violation of a Company or an Affiliate policy which is or is reasonably expected to be materially injurious to the Company and/or an Affiliate. (d) NOTHING IN THE PLAN SHALL BE DEEMED TO GIVE ANY GRANTEE OF ANY STOCK RIGHT THE RIGHT TO BE RETAINED IN EMPLOYMENT OR OTHER SERVICE BY THE COMPANY OR ANY RELATED CORPORATION AFFILIATE FOR ANY PERIOD OF TIME OR TO AFFECT THE AT-WILL NATURE OF ANY EMPLOYEE'S EMPLOYMENT. View More
Found in Fathom Holdings Inc. contract
Effect of Termination of Continuous Service. If a grantee's grantee ceases to provide Continuous Service (as defined below) to the Company and all or a Related Corporations ends for any reason Corporation other than (x) by reason of death or disability as defined in Section 10, or (y) by reason of a termination for "Cause" as defined in this Section 9, then unless otherwise specified in the instrument granting such Stock Right, the grantee shall have the continued right to exercise any Stock Right held by him or her, to the extent of the n...umber of shares with respect to which he or she could have exercised it on the date of termination until the Stock Right's specified expiration date; provided, however, in the event the grantee exercises any ISO after the date that is three months following the date of termination of such grantee's employment, such ISO will automatically be converted into an NSO subject to the terms of the Plan. The Committee may provide in an award agreement that In the event of a grantee's termination for Cause (as defined below), the right of a grantee to exercise a Stock Right will end immediately upon shall terminate as of the date of termination of Continuous Service if such termination is For Cause (as defined below). termination. (a) As used herein, the term "Continuous Service" means the provision of services to the Company or a Related Corporation in any capacity of employee, director or consultant that is not interrupted or terminated. A grantee's Continuous Service will be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the grantee provides services ceasing to be a Related Corporation. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence (as described below), (ii) transfers among the Company, any Related Corporation, or any successor in any capacity of employee, director or consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Corporation in any capacity of employee, director or consultant (provided, however that a change in status from an employee to consultant may cause an ISO to become an NSO under the Code). ISOs granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, so long as the optionee continues to be an employee of the Company or any Related Corporation. (b) An approved leave of absence for purposes of determining Continuous Service shall be considered as continuing uninterrupted during will include any bona fide leave of absence (such as those attributable to illness, military obligations or other authorized personal leave) where there is a reasonable expectation that the grantee will return to provide services for the Company or a Related Corporation, and provided that the period of such leave does not exceed 90 days or, six (6) months, or if longer, any period during which such grantee's right to reemployment with the Company is guaranteed by statute or by contract. (c) For purposes of this Plan, and unless otherwise defined in the instrument granting a Stock Right, "Cause" means: (i) if a grantee has an employment agreement, consulting agreement, service agreement or other similar agreement with the Company or any Related Corporation that defines "Cause" or a like term, the meaning set forth in such agreement at the time of the grantee's termination of service; or (ii) in the absence of such an agreement or definition, the termination of a grantee's status as an employee, a director or consultant (as applicable) for any of the following reasons, as determined by the Committee: (A) the grantee's breach of any fiduciary duty to the Company or any Related Corporation; (B) the grantee's failure to follow the reasonable instructions of the Board or the Company's Chief Executive Officer, which failure is or is reasonably expected to be materially injurious to the Company and/or a Related Corporation, and which failure, if curable, is not cured within ten (10) days after notice to such grantee or, if cured, recurs within one hundred eighty (180) days; (C) the grantee's gross negligence which is or is reasonably expected to be materially injurious to the Company and/or a Related Corporation; (D) the grantee's material breach of any noncompetition, confidentiality or similar agreement with the Company or a Related Corporation, as determined under such agreement; (E) the grantee's commission of a crime involving fraud, embezzlement, theft, or other act constituting a felony; or (F) the grantee's willful misconduct or willful violation a Company or a Related Corporation policy, which is or is reasonably expected to be materially injurious to the Company and/or a Related Corporation, provided that no act or failure to act on the grantee's part shall be considered "willful" unless done, or omitted to be done, by the grantee not in good faith and without reasonable belief that the grantee's action or omission was in the best interest of the Company or the Related Corporation. (d) NOTHING IN THE PLAN SHALL BE DEEMED TO GIVE ANY GRANTEE OF ANY STOCK RIGHT THE RIGHT TO BE RETAINED IN EMPLOYMENT OR OTHER SERVICE BY THE COMPANY OR ANY RELATED CORPORATION FOR ANY PERIOD OF TIME OR TO AFFECT THE AT-WILL NATURE OF ANY EMPLOYEE'S EMPLOYMENT. View More
Found in Candel Therapeutics, Inc. contract
Effect of Termination of Continuous Service. If a grantee's Continuous Service (as defined below) to the Company and all Related Corporations ends for any reason other than (i) by reason of death or disability Disability as 4 defined in Section 10, or (ii) by reason of a termination for "Cause" as defined in this Section 9, then unless otherwise specified in the instrument granting such Stock Right, the grantee shall have the continued right to exercise any Stock Right held by him or her, to the extent of the number of shares with respect ...to which he or she could have exercised it on the date of termination, for a period of three (3) months after the termination until the Stock Right's specified expiration date; provided, however, in of Continuous Service. In the event of a termination for Cause (as defined below), the right of a grantee exercises any ISO after the date that is three months following the date of termination of such grantee's employment, such ISO will automatically be converted into an NSO subject to the terms of the Plan. The Committee may provide in an award agreement that a grantee's right to exercise a Stock Right will end immediately upon shall terminate as of the date of termination of Continuous Service if such termination is For Cause (as defined below). (a) As and those Stock Rights shall be forfeited. (a)As used herein, the term "Continuous Service" means the provision of services to the Company or a Related Corporation in any capacity of employee, director or consultant that is not interrupted or terminated. A grantee's Continuous Service will be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the grantee provides services ceasing to be a Related Corporation. Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence (as described below), (ii) transfers among the Company, any Related Corporation, or any successor in any capacity of employee, director or consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Related Corporation in any capacity of employee, director or consultant (provided, however that a change in status from an employee to consultant may cause an ISO to become an NSO under the Code). ISOs granted under the Plan shall not be affected by any change of employment within or among the Company and Related Corporations, so long as the optionee continues to be an employee of the Company or any Related Corporation. (b) (b)An approved leave of absence for purposes of determining Continuous Service shall be considered as continuing uninterrupted during will include any bona fide leave of absence (such as those attributable to illness, military obligations or other authorized personal leave) where there is a reasonable expectation that the grantee will return to provide services for the Company or a Related Corporation, and provided that the period of such leave does not exceed 90 days or, six (6) months, or if longer, any period during which such grantee's right to reemployment with the Company is guaranteed by statute or by contract. NOTHING (c)For purposes of this Plan, and unless otherwise defined in the instrument granting a Stock Right, "Cause" means: (i)if a grantee has a then-effective employment agreement, consulting agreement, service agreement or other similar agreement with the Company or any Related Corporation that defines "Cause" or a like term, the meaning set forth in such agreement at the time of the grantee's termination of Continuous Service; or (ii)in the absence of such an agreement or definition, the termination of a grantee's Continuous Service for any of the following reasons, as determined by the Committee: (A) the grantee's breach of any fiduciary duty to the Company or any Related Corporation; (B) the grantee's failure to follow the reasonable instructions of the Board or such grantee's direct supervisor, which failure, if curable, is not cured within ten (10) days after notice to such grantee or, if cured, recurs within one hundred eighty (180) days; (C) the grantee's willful misconduct, fraud, embezzlement, or acts of dishonesty relating to the Company or any Related Corporation; (D) the grantee's material breach of any noncompetition, confidentiality or similar agreement with the Company or a Related Corporation, as determined under such agreement; (E) the grantee's commission of a crime involving fraud, embezzlement, theft, or other act constituting a felony; or (F) a grantee who is an employee or a consultant and who engages in acts or omissions constituting gross negligence, misconduct or a willful violation of a Company or a Related Corporation policy which is or is reasonably expected to be materially injurious to the Company and/or a Related Corporation. (d)NOTHING IN THE PLAN SHALL BE DEEMED TO GIVE ANY GRANTEE OF ANY STOCK RIGHT THE RIGHT TO BE RETAINED IN EMPLOYMENT OR OTHER SERVICE BY THE COMPANY OR ANY RELATED CORPORATION FOR ANY PERIOD OF TIME OR TO AFFECT THE AT-WILL NATURE OF ANY EMPLOYEE'S EMPLOYMENT. View More
Found in KeyStar Corp. contract
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