Forfeiture of Restricted Stock Clause Samples

Forfeiture of Restricted Stock. If any of your Restricted Stock is forfeited as provided for in Paragraph 5, such forfeiture shall be immediate, and forfeited Restricted Stock (including any cash dividends or liquidation payments for which the record date occurs on or after the date of the forfeiture, and any noncash dividends or noncash distributions with respect to Restricted Stock that is forfeited), and all of your rights to and interest in the forfeited Restricted Stock shall terminate without payment of consideration. Forfeited Restricted Stock shall be reconveyed to the Company, and you agree to promptly take such action and sign such documents as the Company may request to facilitate such reconveyance to the Company.

Forfeiture of Restricted Stock. Unvested Restricted Stock shall be forfeited without consideration by Participant upon Participant’s termination of Employment with the Company or its Affiliates for any reason.

Forfeiture of Restricted Stock. Until the Restricted Stock is vested in accordance with Section 2.2 of this Agreement, it will be forfeited to the Company immediately upon a termination of employment for any reason.

Forfeiture of Restricted Stock. In addition to the rights available to the Company and its Subsidiaries under Section 6(c)(i) hereof, if the Participant violates the terms of this Section 6 at any time, the Participant, without any further action by the Company or the Participant, shall forfeit, as of the first day of any such violation, all right, title and interest to unvested Restricted Stock and the Company further shall be entitled to reimbursement from the Participant of any fees and expenses (including attorneys’ fees) incurred by or on behalf of the Company or any Subsidiary in enforcing the Company’s or a Subsidiary’s rights under this Section 6. By accepting this Restricted Stock grant, the Participant hereby consents to a deduction from any amounts the Company or any Subsidiary owes to the Participant from time to time (including amounts owed to the Participant as wages or other compensation, fringe benefits, or vacation pay, as well as any other amounts owed to the Participant by the Company or any Subsidiary), unless such amount is subject to Section 409A of the Code, to the extent of any amounts that the Participant owes to the Company under this Section 6. In addition to any injunctive relief sought under Section 6(c)(i) hereof and whether or not the Company or any Subsidiary elects to make any set-off in whole or in part, if the Company or any Subsidiary does not recover by means of set-off the full amount the Participant owes to the Company or any Subsidiary, calculated as set forth in this Section 6(c)(ii), the Participant agrees to immediately pay the unpaid balance to the Company or any Subsidiary.

Forfeiture of Restricted Stock. All unvested shares of Restricted Stock shall immediately be forfeited to the Company and cease to be outstanding upon the termination of the Participant’s service as an independent member of the Board of Directors of the Company. The Participant acknowledges that neither the Participant nor the Participant’s estate will have any claim whatsoever against the Company or any Subsidiary related to any forfeiture of the Restricted Stock.

Forfeiture of Restricted Stock. Subject to Section 4, notwithstanding any other provision of this Agreement, all of the Restricted Stock granted hereunder shall be forfeited by the Grantee and canceled in the event any of the following events occur prior to the Vesting Date: (a) The termination of the Grantee's employment with the Company for Cause or without Good Reason, as such terms are defined in the employment agreement of such Grantee, or if such term or terms is not defined in the employment agreement or there is not an employment agreement as amended or if the Company discovers or becomes aware after termination of the Grantee’s employment of conduct by the Grantee during employment that would have constituted Cause; or (b) The occurrence of any one or more of the following: (i) The Grantee purchases or sells securities of the Company without written authorization in accordance with the Company’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ policy then in effect, if any; (ii) The Grantee (A) discloses, publishes or authorizes anyone else to use, disclose or publish, without the prior written consent of the Company, any proprietary or confidential information of the Company, including, without limitation, any information relating to existing or potential customers, business methods, financial information, trade or industry practices, sales and marketing strategies, employee information, vendor lists, business strategies, intellectual property, trade secrets or any other proprietary or confidential information or (B) directly or indirectly uses any such proprietary or confidential information for the individual benefit of the Grantee or the benefit of a third party; (iii) The Grantee fails to reasonably cooperate to effect a smooth transition of the Grantee’s duties and to ensure that the Company is apprised of the status of all matters the Grantee is handling or is unavailable for consultation after termination of employment of the Grantee if such availability is a condition of any agreement to which the Company and the Grantee are parties; (iv) The Grantee fails to assign all of such Grantee’s rights, title and interest in and to any and all ideas, inventions, formulas, source codes, techniques, processes, concepts, systems, programs, software, computer data bases, trademarks, service marks, brand names, trade names, compilations, documents, data, notes, designs, drawings, technical data and/or training materials, including improvements thereto or derivatives therefrom, whether or not patentable or subject t...

Forfeiture of Restricted Stock. (a) If Grantee’s employment with the Company or any of its subsidiaries is terminated for any reason prior to the expiration of the Restricted Period, including without limitation termination of employment upon Grantee’s death or disability, Grantee shall immediately, and without any further action by the Company or Grantee, forfeit to the Company the portion of the Restricted Stock with respect to which the Restricted Period has not expired, and the certificate(s) representing such Restricted Stock shall be cancelled. (b) Notwithstanding the provisions of Section 3(a), unless otherwise specifically set forth in Exhibit A: (i) if Grantee retires at age 60 or older, with at least 15 years of service with the Company and predecessor companies, the Restricted Period shall be deemed to have expired with respect to a number of shares of Restricted Stock equal to 50% of Grantee's shares that would have otherwise been forfeited to the Company under Section 3(a), plus an additional 5% of such shares for each year of service beyond 15 years; (ii) if Grantee retires at age 60 or older, with 25 or more years of service with the Company and predecessor companies, the Restricted Period shall be deemed to have expired with respect to all of Grantee's shares of Restricted Stock; (iii) in the event of the death or disability of Grantee prior to the end of the Restricted Period, the Restricted Period shall be deemed to have expired with respect to a pro rata number of shares equal to (A) the number of shares of Grantee's Restricted Stock that would have otherwise been forfeited to the Company under Section 3(a), multiplied by (B) a fraction, the numerator of which is the number of complete calendar months from the Date of Grat to the date of such death or disability and the denominator of which is the total number of months in the original Restricted Period; and Restricted Stock Agreement (iv) Upon a Change in Control (as defined in the Plan), the Restricted Period shall be deemed to have expired with respect to all of Grantee's shares of Restricted Stock.

Forfeiture of Restricted Stock. Upon the termination of your employment by you, the Company or its Subsidiaries for any reason other than those set forth in Section 4 hereof prior to such vesting, in addition to the circumstance described in Section 9(a) hereof, any and all Shares of Restricted Stock which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited and shall revert to the Company.

Forfeiture of Restricted Stock. Any shares of Restricted Stock issued pursuant to this Agreement which have not vested shall immediately be forfeited to the Company and cease to be outstanding upon the termination, for any reason, of the Participant’s employment and service with the Company and all its Subsidiaries.