Common use of Termination of Service Relationship Clause in Contracts

Termination of Service Relationship. The following provision replaces the third paragraph of the “Vesting” section of this Agreement: By electronically enrolling in the Plan you understand that in the event you cease to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your employment agreement, if any), unless otherwise determined by the Company or provided for in this Agreement, your right to participate in the Plan or vest in RSUs, if any, will terminate effective as of the date you are no longer actively providing Services (the "Termination Date"). Unless explicitly required by applicable legislation, the Termination Date shall not include or be extended by any period during which notice, pay in lieu of notice, or any related payments or damages are provided or required to be provided under statute, contract, common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your right to vest in the RSUs under the Plan, if any, will terminate as of the Termination Date. The Committee has the exclusive discretion to determine when you are no longer actively employed for purposes of participation in the Plan (including whether you may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the RSUs, if any, will terminate effective as of the last date of the minimum statutory notice period, but you will not earn or be entitled to pro-rated vesting if the Vesting Date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting.

Appears in 2 contracts

Sources: Restricted Stock Unit Agreement (Insulet Corp), Restricted Stock Unit Agreement (Insulet Corp)

Termination of Service Relationship. The following provision replaces the third paragraph of the “VestingVesting and Exercisability” section of this Agreement: By electronically enrolling in the Plan Plan, you understand that in the event you cease to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your employment agreement, if any), unless otherwise determined by the Company or provided for in this Agreement, your right to participate in the Plan or vest in RSUsthis Option, if any, will terminate effective as of the date you are no longer actively providing Services (the "Termination Date"). Unless explicitly required by applicable legislation, the Termination Date shall not include or be extended by any period during which notice, pay in lieu of notice, or any related payments or damages are provided or required to be provided under statute, contract, common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your right to vest in the RSUs Option under the Plan, if any, will terminate as of the Termination Date. . The Committee has the exclusive discretion to determine when you are no longer actively employed for purposes of participation in the Plan (including whether you may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the RSUsthis Option, if any, will terminate effective as of the last date of the minimum statutory notice period, but you will not earn or be entitled to pro-rated vesting if the Vesting Date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting.

Appears in 2 contracts

Sources: Non Qualified Stock Option Agreement (Insulet Corp), Non Qualified Stock Option Agreement (Insulet Corp)

Termination of Service Relationship. The following provision replaces the third second paragraph of the “Vesting” section Section 4(b) of this AgreementAward: By electronically enrolling in the Plan you understand Plan, the Grantee understands that unless otherwise provided in this Agreement or the Plan, in the event you cease the Grantee ceases to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your the Grantee’s employment agreement, if any), unless otherwise determined by the Company or provided for in this the Agreement, your the Grantee’s right to participate in the Plan or vest in RSUsRestricted Stock Units, if any, will terminate effective as of the date you are the Grantee is no longer actively providing Services (the "Termination Date"). Unless explicitly required by applicable legislation, the Termination Date shall not include or be extended by any period during which notice, pay in lieu of notice, or any related payments or damages are provided or required to be provided under statute, contract, common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your the Grantee's right to vest in the RSUs Restricted Stock Units under the Plan, if any, will terminate as of the Termination Date. The Committee has the exclusive discretion to determine when you are the Grantee is no longer actively employed for purposes of participation in the Plan (including whether you the Grantee may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your the Grantee’s right to vest in the RSUsRestricted Stock Units, if any, will terminate effective as of the last date of the minimum statutory notice period, but you the Grantee will not earn or be entitled to pro-rated vesting if the Vesting Date vesting date falls after the end of your the Grantee’s statutory notice period, nor will you the Grantee be entitled to any compensation for lost vesting.

Appears in 2 contracts

Sources: Performance Stock Unit Agreement (Insulet Corp), Performance Stock Unit Agreement (Insulet Corp)

Termination of Service Relationship. The following provision replaces the third second paragraph of the “Vesting” section Section 4(b) of this AgreementAward: By electronically enrolling in the Plan you understand Plan, the Grantee understands that unless otherwise provided in this Agreement or the Plan, in the event you cease the Grantee ceases to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your the Grantee’s employment agreement, if any), unless otherwise determined by the Company or provided for in this AgreementCompany, your the Grantee’s right to participate in the Plan or vest in RSUsRestricted Stock Units, if any, will terminate effective as of the earlier of (i) the date you are of termination of the Grantee’s Service, (ii) the date upon which the Grantee receives a notice of termination of Service, or (iii) the date upon which the Grantee ceases to actively provide Services. With respect to (iii), the Grantee will no longer be considered to be actively providing Services employed during any notice period (the "Termination Date"). Unless explicitly required by applicable legislatione.g., the Termination Date shall employment would not include any contractual notice or be extended by any period during which noticeof “garden leave” or similar period mandated under local law, pay in lieu of noticeincluding but not limited to, or any related payments or damages are provided or required to be provided under statutestatutory law, contract, regulatory law and/or common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your right to vest in the RSUs under the Plan, if any, will terminate as of the Termination Date). The Committee has the exclusive discretion to determine when you are the Grantee is no longer actively employed for purposes of participation in the Plan (including whether you the Grantee may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your the Grantee’s right to vest in the RSUsRestricted Stock Units, if any, will terminate effective as of the last date of the minimum statutory notice period, but you the Grantee will not earn or be entitled to pro-rated vesting if the Vesting Date vesting date falls after the end of your the Grantee’s statutory notice period, nor will you the Grantee be entitled to any compensation for lost vesting.

Appears in 1 contract

Sources: Performance Stock Unit Agreement (Insulet Corp)

Termination of Service Relationship. The following provision replaces the third paragraph of the “VestingVesting and Exercisability” section of this Agreement: By electronically enrolling in the Plan Plan, you understand that in the event you cease to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your employment agreement, if any), unless otherwise determined by the Company or provided for in this AgreementCompany, your right to participate in the Plan or vest in RSUsthis Option, if any, will terminate effective as of the earlier of: (i) the date of your termination of Service, (ii) the date upon which you are receive a notice of termination of Service, or (iii) the date upon which you cease to actively provide Services. With respect to (iii), you will no longer be considered to be actively providing Services employed during any notice period (the "Termination Date"). Unless explicitly required by applicable legislatione.g., the Termination Date shall employment would not include any contractual notice or be extended by any period during which noticeof “garden leave” or similar period mandated under local law, pay in lieu of noticeincluding but not limited to, or any related payments or damages are provided or required to be provided under statutestatutory law, contract, regulatory law and/or common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your right to vest in the RSUs under the Plan, if any, will terminate as of the Termination Date). The Committee has the exclusive discretion to determine when you are no longer actively employed for purposes of participation in the Plan (including whether you may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the RSUsthis Option, if any, will terminate effective as of the last date of the minimum statutory notice period, but you will not earn or be entitled to pro-rated vesting if the Vesting Date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting.

Appears in 1 contract

Sources: Non Qualified Stock Option Agreement (Insulet Corp)

Termination of Service Relationship. The following provision replaces the third paragraph of the “Vesting” section of this Agreement: By electronically enrolling in the Plan you understand that in the event you cease to provide Services to the Company or the Employer (for any reason whatsoever, whether or not later found to be invalid or in breach of local laws or the terms of your employment agreement, if any), unless otherwise determined by the Company or provided for in this AgreementCompany, your right to participate in the Plan or vest in RSUs, if any, will terminate effective as of the earlier of (i) the date of termination of your Service, (ii) the date upon which you are receive a notice of termination of Service, or (iii) the date upon which you cease to actively provide Services. With respect to (iii), you will no longer be considered to be actively providing Services employed during any notice period (the "Termination Date"). Unless explicitly required by applicable legislatione.g., the Termination Date shall employment would not include any contractual notice or be extended by any period during which noticeof “garden leave” or similar period mandated under local law, pay in lieu of noticeincluding but not limited to, or any related payments or damages are provided or required to be provided under statutestatutory law, contract, regulatory law and/or common law, civil law or otherwise. Unless otherwise explicitly provided in this Agreement or determined by the Committee, or explicitly required by applicable legislation, your right to vest in the RSUs under the Plan, if any, will terminate as of the Termination Date). The Committee has the exclusive discretion to determine when you are no longer actively employed for purposes of participation in the Plan (including whether you may still be considered to be actively providing Services while on a leave of absence). If, notwithstanding the foregoing, applicable employment legislation explicitly requires continued vesting during a statutory notice period, your right to vest in the RSUs, if any, will terminate effective as of the last date of the minimum statutory notice period, but you will not earn or be entitled to pro-rated vesting if the Vesting Date falls after the end of your statutory notice period, nor will you be entitled to any compensation for lost vesting.

Appears in 1 contract

Sources: Restricted Stock Unit Agreement (Insulet Corp)