Common use of Termination by the Company without Cause or by the Grantee for Good Reason Clause in Contracts

Termination by the Company without Cause or by the Grantee for Good Reason. If Grantee’s employment with the Company (a) is involuntarily terminated by the Company for any reason other than termination for Cause, or (b) is terminated by the Grantee for Good Reason, then, subject to Grantee’s execution of the release of claims in the form attached to the Employment Agreement, all of the Restricted Stock Units granted hereunder shall immediately vest on the Date of Termination, and the Date of Termination shall be the Vesting Date for purposes of this Agreement. For purposes of this Agreement, the terms “Good Reason” and “Cause” shall have the meanings set forth in the Employment Agreement.

Appears in 1 contract

Sources: Employment Agreement (Tivity Health, Inc.)

Termination by the Company without Cause or by the Grantee for Good Reason. If Grantee’s employment with the Company (a) is involuntarily terminated by the Company for any reason other than termination for without Cause, or (b) is terminated by the Grantee for Good Reason, then, subject to Grantee’s execution of the release of claims in the form attached to the Employment Agreement, all of the Restricted Stock Units granted hereunder shall immediately vest will become fully vested on the Date of Termination, Termination and the Date of Termination such Restricted Stock Units shall be settled promptly following the Vesting Date for purposes of this Agreement(as modified) as provided in Section 2. For purposes of this Agreement, the terms “Good ReasonCause” and “CauseGood Reason” shall have the meanings set forth in the Employment Agreement.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (Tivity Health, Inc.)