Continuous Status as a Director, Employee or Consultant

Example Definitions of "Continuous Status as a Director, Employee or Consultant"
Continuous Status as a Director, Employee or Consultant. Means that the director, employment or consulting relationship with Company is not interrupted or terminated. Continuous Status as a Director, Employee or Consultant shall not be considered interrupted in the case of (i) any leave of absence approved by Company or (ii) transfers between locations of Company or transfers to any subsidiary of Company, or between a subsidiary and Company or any successor. A leave of absence shall include sick leave or any other personal leave approved by an... authorized representative of Company. For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract, including policies of Company. If reemployment upon expiration of a leave of absence approved by Company is not so guaranteed, on the day which is three months after the 91st day of such leave any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. View More
Found in MOSSIMO INC contract
Continuous Status as a Director, Employee or Consultant. Means that the The director, employment or consulting relationship with the Company is not interrupted or terminated. Continuous Status as a Director, Employee or Consultant shall not be considered interrupted in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or transfers to any subsidiary of the Company, or between a subsidiary and the Company or any successor. A leave of absence shall include sick leave or any other personal... leave approved by an authorized representative of the Company. For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract, including policies of the Company. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, on the day which is three months after the 91st day of such leave any Incentive Stock Option held by the Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. Option View More
Found in HERITAGE COMMERCE CORP contract
View Variation
All Definitions