Common use of Termination of Service as a Director Clause in Contracts

Termination of Service as a Director. Except as provided in Section 4 hereof, Restricted Shares shall not vest unless the Grantee is then a director of the Company and unless the Grantee has continuously so served since the date of grant of the Restricted Shares. In the event that the service of the Grantee as a director of the Company shall terminate (other than by reason of death or disability), all unvested Restricted Shares shall be forfeited and be immediately transferred to, and reacquired by, the Company at no cost to the Company.

Termination of Service as a Director. Except as provided in Section Paragraph 4 hereof, Restricted Shares shall not vest unless the Grantee is then a director of the Company and unless the Grantee has remained continuously so served a director of the Company since the date of grant of the Restricted Shares. In the event that the service of the Grantee as a director of the Company shall terminate (other than by reason of death or disability), all unvested Restricted Shares shall be forfeited and be immediately transferred to, and reacquired by, the Company at no cost to the Company.