Separation from Service Clause Example with 4 Variations from Business Contracts

This page contains Separation from Service clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Separation from Service. (a) Death or Disability. In the event the service of the Participant to the Board is terminated by reason of death or Disability, the Period of Restriction applicable to the Restricted Stock Units shall automatically terminate (that is, the Restricted Stock Units shall "vest") upon such Separation from Service. (b) Other. In the event the service of the Participant to the Board is terminated for any reason other than death or Disability during the Period of Restriction, then any Restricted Stock... Units still subject to the Period of Restriction at the date of such Separation from Service automatically shall be forfeited and returned to the Company. View More Arrow
Found in TrustCo Bank Corp NY contract

Variations of a "Separation from Service" Clause from Business Contracts

Separation from Service. (a) Death or Disability. In the event the service of the Participant to the Board is terminated by reason Participant's Separation from Service because of death or Disability, Disability during the Period of Restriction, the Period of Restriction applicable to the Restricted Stock Units shall automatically terminate (that is, the Restricted Stock Units shall "vest") upon such Separation from Service. (b) Other. In Unless the Compensation Committee of the board of directors of the Company (Commit...tee), in its sole discretion and insofar as permitted by the Plan, determines otherwise, in the event of a Participant's Separation from Service during the service Period of the Participant to the Board is terminated Restriction for any reason other than death or Disability during the Period of Restriction, those set forth in Paragraph 6(a) above, then any Restricted Stock Units still subject to the Period of Restriction at the date of such Separation from Service automatically shall be forfeited and returned to the Company. View More Arrow
Found in TrustCo Bank Corp NY contract
Separation from Service. (a) Death or Disability. In the event the service of the Participant to the Board is terminated by reason Participant's Separation from Service because of death or Disability, Disability during the Period of Restriction, the Period of Restriction applicable to the Restricted Stock Units shall automatically terminate (that is, the Restricted Stock Units shall "vest") upon such Separation from Service. (b) Other. In the event of a Participant's Separation from Service during the service Period of ...the Participant to the Board is terminated Restriction for any reason other than death or Disability during the Period of Restriction, those set forth in Paragraph 6(a) above, then any Restricted Stock Units still subject to the Period of Restriction at the date of such Separation from Service automatically shall be forfeited and returned to the Company. View More Arrow
Found in TrustCo Bank Corp NY contract
Separation from Service. (a) Death or Disability. In the event the service of the Participant to the Board is terminated by reason Participant's Separation from Service because of death or Disability, Disability during the Period of Restriction, the Period of Restriction applicable to the Restricted Stock Units shall automatically terminate (that is, the Restricted Stock Units shall "vest") upon such Separation from Service. (b) Other. In the event of a Participant's Separation from Service during the service Period of ...the Participant to the Board is terminated Restriction for any reason other than death or Disability during the Period of Restriction, those set forth in Paragraph 5(a) above, then any Restricted Stock Units still subject to the Period of Restriction at the date of such Separation from Service automatically shall be forfeited and returned to the Company. View More Arrow
Found in TrustCo Bank Corp NY contract
Separation from Service. (a) Death or Disability. In the event the service of the Participant to the Board is terminated by reason of death or Disability, the Period of Restriction applicable to the Restricted Stock Units shall automatically terminate (that is, the Restricted Stock Units shall "vest") upon such Separation from Service. (b) Other. In Unless the Compensation Committee of the board of directors of the Company ("Committee"), in its sole discretion and insofar as permitted by the Plan, determines otherwise, ...in the event the service of the Participant to the Board is terminated for any reason other than death or Disability during the Period of Restriction, then any Restricted Stock Units still subject to the Period of Restriction at the date of such Separation from Service automatically shall be forfeited and returned to the Company. View More Arrow
Found in TrustCo Bank Corp NY contract