Common use of Forfeiture Upon Termination as a Service Provider Clause in Contracts

Forfeiture Upon Termination as a Service Provider. Notwithstanding any contrary provision of this Agreement or the Grant Notice, if the Grantee terminates service as a Service Provider for any or no reason prior to vesting, the unvested RSUs awarded by this Agreement will thereupon be forfeited at no cost to the Company.

Appears in 2 contracts

Samples: Restricted Stock Units Agreement (Microchip Technology Inc), Restricted Stock Units Agreement (Microchip Technology Inc)

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Forfeiture Upon Termination as a Service Provider. Notwithstanding any contrary provision of this Agreement or the Grant NoticeNotice of Grant, if the Grantee Participant terminates service as a Service Provider for any or no reason prior to vesting, the unvested RSUs awarded by this Agreement will thereupon be forfeited at no cost to the Company.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Lantronix Inc)

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Forfeiture Upon Termination as a Service Provider. Notwithstanding any contrary provision of this Agreement or the Notice of Grant Noticeof Restricted Stock Units, if the Grantee Participant terminates service as a Service Provider for any or no reason prior to vesting, the unvested then Unvested RSUs awarded by this Agreement will thereupon be forfeited and automatically transferred to and reacquired by the Company at no cost to the CompanyCompany upon the date of such termination and Participant will have no further rights thereunder.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Penumbra Inc)

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