Common use of Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability Clause in Contracts

Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Employee’s Termination for any reason (other than due to the Employee’s Retirement, death or Disability) during the Period of Restriction, all Shares of Restricted Stock subject to the Period of Restriction and not theretofore vested in accordance herewith shall be forfeited. Upon the Employee’s Termination during the Period of Restriction due to the Employee’s death or Disability, the Period of Restriction applicable to the Shares of Restricted Stock not theretofore forfeited in accordance herewith shall lapse, and such Shares of Restricted Stock shall become free of all restrictions and become fully vested. Upon the Employee’s Termination during the Period of Restriction upon Retirement, the Period of Restriction applicable to the Restricted Stock shall continue, and the Period of Restriction shall continue to potentially lapse and such Restricted Stock shall continue to potentially vest according to the vesting schedule specified in Section 1(b) hereof. Nothing in this Agreement or the Plan shall confer upon the Em­ployee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the Employee’s employment at any time.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Kbw, Inc.), Restricted Stock Agreement (Kbw, Inc.)

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Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Employee’s 's Termination for any reason (other than due to the Employee’s Retirement's Retirement (as defined below), death or Disability) during the Period of Restriction, all Shares of Restricted Stock subject to the Period of Restriction and not theretofore vested in accordance herewith shall be forfeited. Upon the Employee’s 's Termination during the Period of Restriction due to the Employee’s 's death or Disability, the Period of Restriction applicable to the Shares of Restricted Stock Stock, not theretofore forfeited in accordance herewith herewith, shall lapse, and such Shares of Restricted Stock shall become free of all restrictions and become fully vested. Upon the Employee’s 's Termination during the Period of Restriction upon RetirementRetirement (as defined below), the Period of Restriction applicable to the Restricted Stock shall continue, and the Period of Restriction shall continue to potentially lapse and such Restricted Stock shall continue to potentially vest according to the original vesting schedule specified in Section 1(b) hereofthe Employee Account Records, unless the Company, in its sole discretion elects to accelerate such vesting schedule. Nothing in this Agreement or the Plan shall confer upon the Em­ployee Employee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the Employee’s 's employment at any time.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Kbw, Inc.), Restricted Stock Agreement (Kbw, Inc.)

Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Employee’s Termination for any reason (other than due to the Employee’s Retirement, death or Disability) during the Period of Restriction, all Shares of Restricted Stock subject to the Period of Restriction and not theretofore vested in accordance herewith shall be forfeited. Upon the Employee’s Termination during the Period of Restriction due to the Employee’s death or Disability, the Period of Restriction applicable to the Shares of Restricted Stock Stock, not theretofore forfeited in accordance herewith herewith, shall lapse, and such Shares of Restricted Stock shall become free of all restrictions and become fully vested. Upon the Employee’s Termination during the Period of Restriction upon Retirement, the Period of Restriction applicable to the Restricted Stock shall continue, and the Period of Restriction shall continue to potentially lapse and such Restricted Stock shall continue to potentially vest according to the original vesting schedule specified in Section 1(b) hereofthe Employee Account Records, unless the Company, in its sole discretion elects to accelerate such vesting schedule. Nothing in this Agreement or the Plan shall confer upon the Em­ployee Employee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the Employee’s employment at any time.

Appears in 1 contract

Samples: Restricted Stock Agreement (Kbw, Inc.)

Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Employee’s Termination for any reason (other than due to the Employee’s RetirementRetirement (as defined below), death or Disability) during the Period of Restriction, all Shares of Restricted Stock subject to the Period of Restriction and not theretofore vested in accordance herewith shall be forfeited. Upon the Employee’s Termination during the Period of Restriction due to the Employee’s death or Disability, the Period of Restriction applicable to the Shares of Restricted Stock not theretofore forfeited in accordance herewith shall lapse, and such Shares of Restricted Stock shall become free of all restrictions and become fully vested. Upon the Employee’s Termination during the Period of Restriction upon RetirementRetirement (as defined below), the Period of Restriction applicable to the Restricted Stock shall continue, and the Period of Restriction shall continue to potentially lapse and such Restricted Stock shall continue to potentially vest according to the vesting schedule specified in Section 1(b) hereof. Nothing in this Agreement or the Plan shall confer upon the Em­ployee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the Employee’s employment at any time.

Appears in 1 contract

Samples: Restricted Stock Agreement (Kbw, Inc.)

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Forfeiture upon Termination of Employment; Accelerated Vesting upon Termination Due to Death or Disability. Upon the Employee’s Termination for any reason (other than due to the Employee’s RetirementRetirement (as defined below), death or Disability) during the Period of Restriction, all Shares of Restricted Stock subject to the Period of Restriction and not theretofore vested in accordance herewith shall be forfeited. Upon the Employee’s Termination during the Period of Restriction due to the Employee’s death or Disability, the Period of Restriction applicable to the Shares of Restricted Stock not theretofore forfeited in accordance herewith shall lapse, and such Shares of Restricted Stock shall become free of all restrictions and become fully vested. Upon the Employee’s Termination during the Period of Restriction upon RetirementRetirement (as defined below), the Period of Restriction applicable to the Restricted Stock shall continue, and the Period of Restriction shall continue to potentially lapse and such Restricted Stock shall continue to potentially vest according to the vesting schedule specified in Section 1(b) hereof. Nothing in this Agreement or the Plan shall confer upon the Em­ployee Employee any right to continue in the employ of the Company or any Subsidiary or Affiliate or interfere in any way with the right of the Company or any Subsidiary or Affiliate to terminate the Employee’s employment at any time.

Appears in 1 contract

Samples: Restricted Stock Agreement (Kbw, Inc.)

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