Example ContractsClausesEnd of Employment and Service as a Director
End of Employment and Service as a Director
End of Employment and Service as a Director contract clause examples

Termination of Service as a Director. The effect of a Participant’s termination of service as a member of the Board shall be as follows:

End of Employment and Service as a Director. Executive’s employment with the Company and its Related Entities has ended or will end effective as of ​ Pacific Time, on ​ (the “Termination Date”). If Executive is an officer or a member of the Board of Directors of the Company and/or its Related Entities (the “Board”) Executive hereby voluntarily resigns from any such officer positions and the Board, effective ​.

Termination of Service as a Director. The effect of a Participant's termination of service as a member of the Board shall be as follows:

Termination of Employment or Service as a Director. If a grantee of a Restricted Stock Award ceases to be employed either by the Company or by a Subsidiary or to serve as a director of the Company for any reason, then any rights of such grantee with respect to shares of Common Stock that remain subject to restrictions under such Restricted Stock Award shall terminate immediately, and any shares of Common Stock covered by a Restricted Stock Award with unlapsed restrictions shall be subject to reacquisition by the Company upon the terms set forth in the applicable agreement with such grantee. The Committee may provide for complete or partial exceptions to such employment or service requirement if the Committee determines such action to be equitable.

Termination of Employment or Service as a Director. If a grantee of a Restricted Stock Unit Award ceases to be employed either by the Company or by a Subsidiary or to serve as a director of the Company for any reason, then any rights of such grantee with respect to the unvested portion of such Restricted Stock Unit Award shall terminate immediately. The Committee may provide for complete or partial exceptions to such employment or service requirement if the Committee determines such action to be equitable.

Termination of Service as a Director. If the Holder’s service as a director of the Company terminates prior to the end of the Restriction Period for any reason other than death or Disability, then the portion of the Award that was not vested immediately prior to such termination of service as a director of the Company shall be immediately forfeited by the Holder and cancelled by the Company. The foregoing vesting schedule notwithstanding, if the Holder’s continuous service terminates due to the Holder’s death or Disability, 100% of the unvested portion of the Award shall vest as of the date of such termination. For purposes of this Award, “Disability” means, as determined by the Board or the Committee in its sole discretion exercised in good faith, a physical or mental impairment of sufficient severity that the Holder is unable to perform the essential functions of his duties as a director of the Company for three (3) consecutive months or three (3) months during any twelve (12)-month period.

End of Employment and Service as a Director. Executive’s employment with the Company and its Related Entities has ended or will end effective as of ​ Pacific Time, on ​ (the “Termination Date”). If Executive is an officer or a member of the Board of Directors of the Company and/or its Related Entities (the “Board”) Executive hereby voluntarily resigns from any such officer positions and the Board, effective ​.

End of Employment and Service as a Director. Executive’s employment with the Company and its Related Entities has ended or will end effective as of ​ Pacific Time, on ​ (the “Termination Date”). If Executive is an officer or a member of the Board of Directors of the Company and/or its Related Entities (the “Board”) Executive hereby voluntarily resigns from any such officer positions and the Board, effective ​.

End of Employment and Service as a Director. Executive’s employment with the Company and its Related Entities has ended or will end effective as of ​ Pacific Time, on ​ (the “Termination Date”). If Executive is an officer or a member of the [[Organization A:Organization]] of the Company and/or its Related Entities (the “Board”) Executive hereby voluntarily resigns from any such officer positions and the Board, effective ​.

End of Employment and Service as a Director. Executive’s employment with the Company and its Related Entities has ended or will end effective as of 5:00pm CET Time, on August 31, 2019 (the “Termination Date”). If Executive remains an officer or a member of the Board of Directors of the Company and/or its Related Entities (the “Board”) as of the Termination Date, Executive hereby voluntarily resigns from any such officer positions and the Board, effective as of the Termination Date.

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