Forfeited Amount Sample Clauses
The Forfeited Amount clause defines the sum of money or value that a party must relinquish if they fail to meet certain contractual obligations. Typically, this clause applies when a party breaches the agreement, such as by missing a payment deadline or failing to deliver goods or services as promised. By specifying the amount to be forfeited, the clause provides a clear consequence for non-performance, thereby encouraging compliance and reducing disputes over damages.
Forfeited Amount. Pursuant to his plea agreement in a separate criminal proceeding in the Western District of Pennsylvania, and a related Preliminary Order of Forfeiture dated October 20, 2022 (See United States ▇. ▇▇▇▇, Nos. 2:22-cr-189, 22-cr-224, 22-cr-231, Doc. 20 (W.D. Pa.)), Hurt forfeited a boat named “In My DNA” or the proceeds of the boat if sold. ▇▇▇▇ subsequently sold the boat and received net proceeds of $4,489,077.32 (“Forfeited Amount”). The Forfeited Amount shall be considered an alternate remedy under 31 U.S.C. § 3730(c)(5) of the FCA. The Parties agree that the Forfeited Amount is restitution under this Agreement.
Forfeited Amount. For purposes of this Option, the Forfeited Amount shall mean either exercised Option shares or the aggregate income, including withholding (shall be computed by multiplying the number of shares purchased upon exercise of the Option, or any part of it, during the Forfeiture Period by the excess of (1) the Fair Market Value on the date of exercise of one share of Stock over (2) Exercise Price) realized by the Participant upon the exercise of all or any part of the Option during the 36 months immediately preceding the Forfeiture Event. * * * * * * *
Forfeited Amount. For purposes of this Option, the Forfeited Amount shall mean the aggregate income (net of taxes) realized by the Participant upon the exercise of all or any part of the Option during the 36 months immediately preceding the Forfeiture Event, and shall be computed by multiplying:
A. the number of shares purchased upon exercise of the Option, or any part of it, during the Forfeiture Period; by
B. the excess of (1) the Fair Market Value on the date of exercise of one share of Stock over (2) Exercise Price. THIS AGREEMENT, made and entered into as of September 25, 2003 (the “Grant Date”) by and between Ameritrade Holding Corporation (the “Company”) and [Name] (the “Participant”);