Common use of Forfeiture of Units Clause in Contracts

Forfeiture of Units. In the event that the Participant’s Service with a Participating Company is terminated by the Participating Company for Cause, insofar as permitted under Local Law the Participant shall forfeit and the Company shall automatically reacquire all Units (whether vested or unvested), and the Participant shall not be entitled to any payment therefor.

Forfeiture of Units. In the event that the Participant’s Service with a Participating Company is terminated by the Participating Company Service Recipient for Cause, insofar as permitted under Local Law the Participant shall forfeit forfeit, and the Company shall automatically reacquire reacquire, all Units (whether vested or unvested), and the Participant shall not be entitled to any payment therefor.

Forfeiture of Units. In Except to the extent expressly provided otherwise in an agreement between the Participant and the Company, in the event that the Participant’s Service terminates for any reason or no reason, with a Participating Company is terminated by the Participating Company for Causeor without cause, insofar as permitted under Local Law the Participant shall forfeit and the Company shall automatically reacquire all Units (whether vested or unvested)which are not, as of the time of such termination, Vested Units, and the Participant shall not be entitled to any payment therefor.