Effect of Termination of Service Contract Clauses (188)

Grouped Into 12 Collections of Similar Clauses From Business Contracts

This page contains Effect of Termination of Service clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Effect of Termination of Service. Except as otherwise provided in accordance with Section 4(b) of this Agreement, if you cease to be a Service Provider, you will immediately forfeit all unvested Restricted Shares and all retained dividends and distributions that relate to such unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation. You shall have no further rights as a shareholder of the Company with respect to the forfeited Shares, including, without limitation, an...y right to receive any dividend or distribution payable to shareholders of record on or after the date of such forfeiture. View More
Found in Shoe Carnival, Inc. contract
Effect of Termination of Service. Except as otherwise provided in accordance with Section 4(b) 4 of this Agreement, if you cease to be a Service Provider, you will immediately forfeit all unvested Restricted Shares and all retained dividends and distributions that relate to such unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation. You shall have no further rights as a shareholder stockholder of the Company with respect to the forfeited Shares, including, without ...limitation, any right to receive any dividend or distribution payable to shareholders stockholders of record on or after the date of such forfeiture. View More
Found in Hormel Foods Corp. contract
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Effect of Termination of Service. (a) Death or Disability. Notwithstanding anything to the contrary herein or in the Plan, in the event that the Director's Separation Date occurs prior to the Vesting Date as a result of the death or Disability (as defined below) of the Director, the Director's outstanding Stock Units (to the extent not then otherwise vested) shall be fully vested on the Director's Separation Date. For purposes of this Award Certificate, "Disability" means a "total and permanent disability" within the meaning of ...Section 22(e)(3) of the Code or as otherwise determined by the Plan Administrator. (b) Other Terminations of Service. Notwithstanding anything to the contrary herein or in the Plan, in the event that the Director's Separation Date occurs prior to the Vesting Date as a result of any circumstances other than the Director's death or Disability, then a number of Stock Units subject to the Award (to the extent not then otherwise vested) shall become vested on the Separation Date equal to (i) the total number of Stock Units subject to the Award, multiplied by (ii) a fraction (not greater than one), the numerator of which is the number of whole weeks between the Director's Separation Date and the Award Date, and the denominator of which is fifty two (52). Any Units subject to the Award that are not vested on the Director's Separation Date (after giving offset to any accelerated vesting required by this Section 6) shall terminate on such Separation Date, regardless of the reason for such Separation Date. (c) Termination of Units. If any unvested Stock Units are terminated hereunder, such Stock Units shall automatically terminate and be cancelled as of the applicable Separation 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. View More
Found in Semtech Corporation contract
Effect of Termination of Service. (a) Death or Disability. Notwithstanding anything to the contrary herein or in the Plan, in the event that the Director's Separation Date From Service occurs prior to the Vesting Date as a result of the death or Disability (as defined below) of the Director, the Director's outstanding Stock Units (to the extent not then otherwise vested) shall be fully vested on the date of the Director's Separation Date. From Service. For purposes of this Award Certificate, "Disability" means a "total and perma...nent disability" within the meaning of Section 22(e)(3) of the Code or as otherwise determined by the Plan Administrator. (b) Other Terminations of Service. Notwithstanding anything to the contrary herein or in the Plan, in the event that the Director's Separation Date From Service occurs prior to the Vesting Date as a result of any circumstances other than the Director's death or Disability, then a number of Stock Units subject to the Award (to the extent not then otherwise vested) shall become vested on the Separation Date From Service equal to (i) the total number of Stock Units subject to the Award, multiplied by (ii) a fraction (not greater than one), the numerator of which is the number of whole weeks between calendar days in the period beginning with the Award Date through and including the date of the Director's Separation Date and the Award Date, From Service, and the denominator of which is fifty two (52). the number of calendar days in the period beginning with Award Date through and including the first July 1 that occurs after the Award Date. Any Stock Units subject to the Award that are not vested on the Director's Separation Date From Service (after giving offset to any accelerated vesting required by this Section 6) shall terminate on such Separation Date, From Service, regardless of the reason for such Separation Date. From Service. (c) Termination of Stock Units. If any unvested Stock Units are terminated hereunder, such Stock Units shall automatically terminate and be cancelled as of the date of the applicable Separation Date without From Service 2 [Non-Deferred RSU Form]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. be.7. Effect of Change in Control. Notwithstanding any other provision to the contrary contained herein, subject to the provisions of Section 7 of the Plan, in the event of a Change in Control (as defined below), any outstanding Stock Units shall automatically become fully vested as of (or, to the extent necessary to give effect to the acceleration, immediately prior to) the date of the Change in Control without any further action on the part of the Board, the stockholders or the Plan Administrator. For purposes hereof, a "Change in Control" shall mean (i) a merger or consolidation in which the stockholders of the Corporation immediately prior to such merger or consolidation do not hold, immediately after such merger or consolidation, more than 50% of the combined voting power of the surviving or acquiring entity (or parent corporation thereof), or (ii) any person shall become the beneficial owner of over 50% of the Corporation's outstanding Common Stock or the combined voting power of the Corporation's then outstanding voting securities entitled to vote generally, or become a controlling person as defined in Rule 405 promulgated under the Securities Act. View More
Found in Semtech Corporation contract
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