Service on the Board of Directors. If your service as a member of the board of directors of the Company ceases for any reason, all Award Shares that are not then vested will be immediately and automatically forfeited and cancelled upon the date your service as a director terminates. You will be required to perform “substantial services” (within the meaning of the Internal Revenue Code of 1986, as amended, (the “Code”) Section 409A(d)(4)) for the Company (including the Bank) (and any applicable successor of the Company and the Bank) through the vesting date in order for vesting to occur, if at all, on such date.
Appears in 3 contracts
Sources: Restricted Stock Agreement (Firstsun Capital Bancorp), Restricted Stock Agreement (Talmer Bancorp, Inc.), Restricted Stock Agreement (Talmer Bancorp, Inc.)