Forfeiture of Unvested Units. Upon the termination of the Employee’s employment with the Company or its subsidiaries for any reason whatsoever all Class B Units that have not vested in accordance with Section 4, held by the Employee as of the termination date shall expire and be immediately forfeited and canceled in their entirety without any consideration to the Employee; provided, however, that if the Employee’s employment with the Company or its subsidiaries is terminated by the Company without Cause (as such term is defined in the Plan), the Class B Units held by the Employee that have not vested as at the date of termination of employment, shall continue to vest in accordance with the terms of this agreement, for a period of six (6) months from the date of such termination of the Employee.
Appears in 4 contracts
Samples: Unit Grant Agreement (Velocity Financial, LLC), Unit Grant Agreement, Unit Grant Agreement
