Common use of Forfeiture for Breach Clause in Contracts

Forfeiture for Breach. Notwithstanding any other provision hereof, if the Grantee breaches or otherwise fails to comply with any of the obligations contained in this Section 5, as applicable, in addition to all rights the Company and its subsidiaries have under this Agreement and any other agreement, at law or in equity, any and all amounts and portions, as applicable, of the Awards that have not become vested and been paid before such breach or failure to comply shall expire at that time, may not become vested or be paid after such time and will be forfeited at such time without any payment therefor.

Appears in 2 contracts

Samples: Cash Incentive Award Agreement (Diamond Offshore Drilling, Inc.), Cash Incentive Award Agreement (Diamond Offshore Drilling, Inc.)

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Forfeiture for Breach. Notwithstanding any other provision hereof, if the Grantee breaches or otherwise fails to comply with any of the obligations contained in this Section 5, as applicable, in addition to all rights the Company and its subsidiaries Subsidiaries have under this Agreement and any other agreement, at law or in equity, any and all amounts and portions, as applicable, of the Awards that have not become vested and been paid before such breach or failure to comply shall expire at that time, may not become vested or be paid after such time and will be forfeited at such time without any payment therefor.

Appears in 1 contract

Samples: Cash Incentive Award Agreement (Diamond Offshore Drilling, Inc.)

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Forfeiture for Breach. Notwithstanding any other provision hereof, if the Grantee breaches or otherwise fails to comply with any of the obligations contained in this Section 5, as applicable, in addition to all rights the Company and its subsidiaries Subsidiaries have under this Agreement and any other agreement, at law or in equity, any and all amounts and portions, as applicable, of the Awards Award that have not become vested and been paid before such breach or failure to comply shall expire at that time, may not become vested or be paid after such time and will be forfeited at such time without any payment therefor.

Appears in 1 contract

Samples: Performance Cash Incentive Award Agreement (Diamond Offshore Drilling, Inc.)

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