Forfeiture; Possible Restoration. If Recipient ceases to be a director of the Company for any reason or for no reason, with or without cause, other than because of death or physical disability (within the meaning of Section 22(e)(3) of the Code), any RSUs that did not vest pursuant to this [Section 2] at or prior to the time of such termination of board service shall be forfeited to the Company.
Forfeiture; Possible Restoration.Effect of Death or Disability. If Recipient ceases to beRecipient’s service as a director of the Company for any reason or for no reason, with or without cause, other thanterminates because of death or physical disability (within the meaning of Section 22(e)(3) of the Code)Internal Revenue Code of 1986 (the “Code”)), anyall of the RSUs that did not vest pursuant to this [Section 2] at or prior to the time of such termination of board service shall be forfeited to the Company.immediately vest.
Forfeiture; Possible Restoration. If Recipient ceasesNotwithstanding anything to bethe contrary herein, if, following termination of service as a director of the Company for any reason or for no reason, with or without cause, other than because of death (including due to Retirement), a former director continues to hold RSUs, the Board, in its sole judgment, may cause all RSUs to be forfeited and transferred back to the Company concurrently with, or physical disability (withinat any time following, such termination if the meaning of Section 22(e)(3)Board determines that such former director has engaged in any activity detrimental to the interests of the Code),Company, a subsidiary or an affiliated company. In such circumstances, the Board may also determine not to pay any RSUsDividend Equivalent that didhas accrued and has not vest pursuantbeen paid with respect to this [Section 2] at or prior to the time of such termination of board service shall be forfeited to the Company.any RSUs.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.