Forfeiture of Free Shares Sample Clauses

Forfeiture of Free Shares. 4.6.1 The Board can determine that all Free Shares awarded on a particular occasion will be subject to a provision for forfeiture in accordance with paragraph 32 of Schedule 2 to 1TEPA. This means that a Participant shall cease to be beneficially entitled to the Shares in certain specified circumstances. These circumstances can be:-
Sample 1
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Forfeiture of Free Shares. Where the Trustee has been notified by the UK Share Plan Manager in accordance with Rule 9.1 that this Rule 9.3 applies then, subject to Rules 9.4 and 9.5 the Participant’s beneficial entitlement to his Free Shares shall lapse immediately on his ceasing to be in Relevant Employment before the end of the Forfeiture Period and he shall cease to have any rights to such Free Shares.
Sample 1

Related to Forfeiture of Free Shares

  • Forfeiture of Shares In the event the Partnership or the General Partner acquires Shares as a result of the forfeiture of such Shares under a restricted or similar share plan, then the General Partner shall cause the Partnership to cancel that number of Partnership Units of the appropriate class equal to the number of Shares so acquired divided by the Conversion Factor, and, if the Partnership acquired such Shares, it shall transfer such Shares to the General Partner for cancellation.

  • Forfeiture of Awards The Restricted Stock Units granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to the Employee or as required by applicable law, and are otherwise subject to forfeiture or disgorgement of profits as provided by the Plan.

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