Example ContractsClausesForfeiture Risk
Forfeiture Risk
Forfeiture Risk contract clause examples

Forfeiture Risk. Automatically and immediately upon the cessation of the Grantee’s Employment for any reason the unvested portion of this Award shall terminate and be forfeited for no consideration.

Forfeiture Risk. Automatically and immediately upon the cessation of the Grantee’s Employment for any reason, the unvested portion of the Award shall terminate and be forfeited for no consideration.

Forfeiture Risk. If the undersigned ceases to be an employee of the Company and its affiliates for any reason, other than as provided in Section 6 below, the Award shall be automatically and immediately forfeited with no compensation due to the undersigned.

Forfeiture Risk. If the Grantee ceases for any reason prior to the expiration of the Restriction Period serving as a Non-Employee Director (as defined in the West Corporation Amended and Restated 2013 Long-Term Incentive Plan (the “Plan”)), including by reason of death, then (subject to any contrary provision of this Agreement or any other written agreement between the Company and the Grantee with respect to vesting and termination of the Award), the Award shall be automatically and immediately forfeited. Following forfeiture of the Award pursuant to this Agreement, the Grantee shall, upon request by the Company, repay to the Company the full amount of the Award within 10 business days following delivery of such request.

Forfeiture Risk. If the Participant ceases to be a Non-employee Director of the Company and its subsidiaries for any reason, including death, any then outstanding and unvested Shares acquired by the Participant hereunder shall be automatically and immediately forfeited. The Participant hereby (i) appoints the Company as the attorney-in-fact of the Participant to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

Forfeiture Risk. If the Director ceases to remain a member of the Board of Directors of the Company for any reason other than death or Disability (as defined below), any unvested portion of the Award (determined after taking account of the provisions of Section 3) shall automatically and immediately be forfeited and terminated.

Forfeiture Risk. If the Participant ceases for any reason to be a member of the Board, any then outstanding and unvested RSUs shall be automatically and immediately forfeited.

Risk of Forfeiture. The SARs shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. Except as otherwise provided in the Notice with respect to the period of time after termination of Continuous Service during which the SARs may be exercised or as otherwise agreed in writing between the Company and Participant, all or any portion of unvested SARs subject to the foregoing risk of forfeiture shall immediately and automatically be forfeited and terminated upon the termination of Participant’s Continuous Service to the Company.

Forfeiture Risk. Automatically and immediately upon the cessation of the Grantee’s Employment for any reason, the unvested portion of the Award shall terminate and be forfeited for no consideration.

Forfeiture Risk. If the undersigned ceases to be an employee of the Company and its Affiliates for any reason, other than as provided in Section 7 below, any then outstanding and unvested PSUs shall be automatically and immediately forfeited with no compensation due to the undersigned.

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