Common use of Forfeiture of Outstanding Options Clause in Contracts

Forfeiture of Outstanding Options. The provisions of Section 5 notwithstanding, if Executive willfully and materially fails to comply with Section 6.1, 6.2, 6.3, 6.4, or 6.8, all options (whether granted prior to, contemporaneous with, or subsequent to this Agreement) to purchase common stock granted by the Company and held by Executive or a transferee of Executive shall be immediately forfeited and cancelled.

Appears in 8 contracts

Samples: Employment Agreement (Scientific Games Corp), Employment Agreement (Scientific Games Corp), Employment Agreement (Scientific Games Corp)

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Forfeiture of Outstanding Options. The provisions of Section 5 4 hereof notwithstanding, if Executive willfully and materially fails to comply with Section 6.15.1, 6.25.2, 6.35.3, 6.45.4, or 6.85.8 hereof, all options to purchase common stock, restricted stock units and other equity-based awards granted by the Company (whether granted prior to, contemporaneous with, or subsequent to this Agreementthe Effective Date) to purchase common stock granted by the Company and held by Executive or a transferee of Executive shall be immediately forfeited and cancelled.

Appears in 1 contract

Samples: Employment Agreement (Scientific Games Corp)

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