Common use of Forfeiture and Clawback Clause in Contracts

Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any Affiliate, or any plan of the Company or any Affiliate in which you participate, including without limitation, the non-solicitation provisions of Section 7 below, you will forfeit in their entirety the Performance Cash Award, the RSUs and the Performance Units, and all of your rights thereto shall terminate without any payment of consideration by the Company.

Appears in 3 contracts

Samples: Award Agreement (Matrix Service Co), Matrix Service Company (Matrix Service Co), Matrix Service Company (Matrix Service Co)

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Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any Affiliate, or any plan of the Company or any Affiliate in which you participate, including without limitationany severance plan, all of your RSUs for which the non-solicitation provisions of restrictions have not previously lapsed in accordance with Section 7 below, you will forfeit in their entirety 5 shall be forfeited to the Performance Cash Award, the RSUs and the Performance Units, Company and all of your rights thereto to receive any Shares in the future pursuant to the RSUs shall automatically terminate without any payment of consideration by the Company.

Appears in 3 contracts

Samples: Willbros Group, Inc.\NEW\, Willbros Group, Inc.\NEW\, Willbros Group, Inc.\NEW\

Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any Affiliate, or any plan of the Company or any Affiliate in which you participate, including without limitation, the non-solicitation provisions of Section 7 below, you will forfeit in their entirety the Performance Cash Award, the RSUs and the Performance Units, and all of your rights thereto shall terminate without any payment of consideration by the Company.

Appears in 2 contracts

Samples: Matrix Service Company (Matrix Service Co), Award Agreement (Matrix Service Co)

Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any Affiliate, or any plan of the Company or any Affiliate in which you participate, including without limitation, the non-solicitation provisions of Section 7 belowany severance plan, you will shall forfeit to the Company all of the Restricted Shares for which the restrictions have not previously lapsed in their entirety the Performance Cash Award, the RSUs and the Performance Units, accordance with Section 5 and all of your rights thereto shall terminate without any payment of consideration by the Company.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Willbros Group, Inc.\NEW\), Employment Agreement (Willbros Group, Inc.\NEW\)

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Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any AffiliateSubsidiary, or any plan of the Company or any Affiliate in which you participate, including without limitation, all of your RSUs for which the non-solicitation provisions of restrictions have not previously lapsed in accordance with Section 7 below, you will forfeit in their entirety 2 shall be forfeited to the Performance Cash Award, the RSUs and the Performance Units, Company and all of your rights thereto to receive any Shares in the future pursuant to the RSUs shall automatically terminate without any payment of consideration by the Company.

Appears in 1 contract

Samples: Matrix Service Company (Matrix Service Co)

Forfeiture and Clawback. (a) You agree that in the event you violate the confidentiality, non-competition, non-solicitation or non-disparagement provisions of any agreement between you and the Company or any Affiliate, or any plan of the Company or any Affiliate in which you participate, including without limitationany severance plan, all of your RSUs for which the non-solicitation provisions of restrictions have not previously lapsed in accordance with Section 7 below, you will forfeit in their entirety 5 shall be forfeited to the Performance Cash Award, the RSUs and the Performance Units, Company and all of your rights thereto to receive any Shares in the future pursuant to such RSUs shall automatically terminate without any payment of consideration by the Company.

Appears in 1 contract

Samples: Restricted Stock Units Award Agreement (Empire Petroleum Corp)

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