Common use of Forfeiture; Certain Terminations Clause in Contracts

Forfeiture; Certain Terminations. Except as provided in this paragraph: (i) upon your Termination, all unvested Performance Stock Units shall immediately be forfeited without compensation; and (ii) upon the failure to attain a Performance Goal (as defined below), any unvested Performance Stock Units subject to any such unachieved Performance Goal shall immediately be forfeited without compensation. Notwithstanding anything herein to the contrary, the Performance Stock Units will vest in full upon a Termination by reason of your death or Disability. In the event of your Termination by the Company without Cause or, if provided in an agreement between you and the Company in effect as of the Grant Date, by you for Good Reason or due to a Constructive Termination without Cause, as each such term (or concept of like import) is defined in that agreement, the Performance Stock Units will vest upon, and subject to, the certification by the Committee of attainment of the applicable Performance Goal regardless of whether or not you are employed on the date of certification.

Appears in 5 contracts

Samples: Performance Stock Unit Agreement (Bed Bath & Beyond Inc), Performance Stock Unit Agreement (Bed Bath & Beyond Inc), Performance Stock Unit Agreement (Bed Bath & Beyond Inc)

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