Common use of Forfeiture; Early Vesting Clause in Contracts

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 below:

Appears in 3 contracts

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc), Performance Stock Unit Award Agreement (Darden Restaurants Inc), Performance Stock Unit Award Agreement (Darden Restaurants Inc)

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Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 below:below:3

Appears in 2 contracts

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc), Performance Stock Unit Award Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 below:other

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. (a) If you cease to be employed by the Company or an Affiliate of the Company prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) Section 7 hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 belowexcept that:

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate for any reason prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest become earned and vested as provided below subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 11 below:

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 below:11 below:3

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

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Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 belowexcept that:

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs PSUs, whether or not Earned Shares, shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the any Earned PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 11 below:

Appears in 1 contract

Samples: Omnibus Incentive Plan Special Equity Award Grant Agreement (Darden Restaurants Inc)

Forfeiture; Early Vesting. If you cease to be employed by the Company or an Affiliate prior to the vesting or forfeiture of the PSUs pursuant to Section 3 hereof, your rights to all of the PSUs shall be immediately and irrevocably forfeited, including the right to receive cash payments and other distributions pursuant to Sections 7(b) and (c) hereof. Notwithstanding the foregoing, the PSUs shall vest subject to the terms and conditions of this Agreement, including the clawback and forfeiture provisions under Section 6 and Section 10 below:11 below:1

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Darden Restaurants Inc)

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