Example ContractsClausesForfeiture of Awards
Forfeiture of Awards
Forfeiture of Awards contract clause examples

Forfeiture. Except as provided in [Sections 2(b) through 2(d)] above, any unvested RSUs will be forfeited immediately, automatically and without consideration upon a termination of the Participant’s Service (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any). Without limiting the generality of the foregoing, the RSUs and the Shares (and any resulting proceeds) will continue to be subject to Section 13 of the Plan.

Forfeiture of Awards. The Awards granted hereunder to the executive officers of the Company are subject to the clawback policy of the Company in effect from time to time.

Forfeiture of Awards. The Awards granted hereunder to the executive officers of the Company are subject to the clawback policy of the Company in effect from time to time.

EXPIRATION, TERMINATION OR FORFEITURE OF AWARDS. Unless otherwise provided in the applicable Award Agreement or any severance agreement, vested Option or SAR Awards granted under this Plan shall expire, terminate, or otherwise be forfeited as follows:

Forfeiture of Awards. The Awards granted hereunder to the executive officers of the Company are subject to the clawback policy of the Company in effect from time to time.

Forfeiture of Awards. The Awards granted hereunder to the executive officers of the Company are subject to the clawback policy of the Company in effect from time to time.

Forfeiture. Except only as may otherwise be expressly set forth in # any employment, severance or change in control agreement of the Company or a Subsidiary with Participant, or # [Section 3(g)] below related to the death of the Participant, any Award which is not vested as of the date Participant ceases to be an employee of Company or one of its Subsidiaries shall thereupon be forfeited immediately and terminate without any further action by Company.

Forfeiture. If the Executive is found in a judgment no longer subject to review or appeal to have breached the obligations set forth in the Restrictive Covenants Agreement, then the Executive shall immediately forfeit any amounts payable or benefits to be received and shall promptly reimburse the Company any amounts actually paid to the Executive pursuant to this Agreement (other than payments made pursuant to Section 3.2).

Forfeiture of Awards. The Awards granted hereunder to the executive officers of the Company are subject to the clawback policy of the Company in effect from time to time.

Forfeiture of Awards. Except as provided in Section 2 of this Agreement, Grantee’s right to receive the RSUs and any Deferred Cash Dividends accumulated with respect thereto shall be forfeited automatically and without further notice on the date that Grantee’s continuous service to the Company as a non-employee Director terminates prior to the first anniversary of the Date of Grant. In the event that Grantee shall intentionally commit an act that the Committee determines to be materially adverse to the interests of the Company or a Subsidiary, Grantee’s right to receive the RSUs and any Deferred Cash Dividends accumulated with respect thereto shall be forfeited at the time of that determination notwithstanding any other provision of this Agreement to the contrary.

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