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

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider, for any or no reason and Participant’s right to acquire any Shares hereunder, will immediately terminate upon Participant’s termination as a Service Provider. For purposes of the Restricted Stock Units, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any), and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider while on a leave of absence).

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Fortinet, Inc.), Restricted Stock Unit Award Agreement (Fortinet, Inc.), Restricted Stock Unit Award Agreement (Fortinet Inc)

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Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, but subject to the vesting provisions set forth in this Award Agreement and Section 4 above, the balance of the Restricted Stock Units that have not vested as of at the time of Participant’s termination as a Service Provider, Provider for any or reason will be forfeited (with no reason consideration due to Participant) and Participant’s right automatically transferred to acquire any Shares hereunder, and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will immediately terminate upon Participant’s termination as a Service Providerhave no further rights thereunder. For purposes of the Restricted Stock Units, Participant's ’s status as a Service Provider will be considered deemed terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary one of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment labor laws in the jurisdiction where Participant is employed or rendering services providing service or the terms of Participant’s employment or other service agreement, if any), ) and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's ’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment labor laws in the jurisdiction where the Participant is employed or rendering services providing service or the terms of Participant’s employment or other service agreement, if any); the . The Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing provides services for purposes of the Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider providing services while on a leave of absence).

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Amkor Technology, Inc.), Restricted Stock Unit Award Agreement (Amkor Technology, Inc.), Restricted Stock Unit Award Agreement (Amkor Technology, Inc.)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, but subject to the vesting provisions set forth in this Award Agreement, the balance of the Shares of Restricted Stock Units that have not vested as of at the time of Participant’s termination as a Service Provider, Provider for any or reason will be forfeited (with no reason consideration due to Participant) and automatically transferred to and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will have no further rights thereunder. Participant hereby appoints the Escrow Agent with full power of substitution, as Participant’s right true and lawful attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to acquire take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares hereunder, will immediately terminate of Restricted Stock to the Company upon Participant’s such termination as a Service Provider. For purposes of the Restricted Stock UnitsStock, Participant's status as a Service Provider will be considered deemed terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary one of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment labor laws in the jurisdiction where Participant is employed or rendering services providing service or the terms of Participant’s 's employment or other service agreement, if any), ) and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment labor laws in the jurisdiction where the Participant is employed or rendering services providing service or the terms of Participant’s 's employment or other service agreement, if any); the . The Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing provides services for purposes of the Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider providing services while on a leave of absence).

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Amkor Technology, Inc.)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider, Provider for any or no reason and Participant’s right to acquire any Shares hereunder, hereunder will immediately terminate upon Participant’s termination as a Service Providerterminate. For purposes of the Restricted Stock Units, Participant's status ’s employment as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent Parent, Subsidiary or Subsidiary affiliate (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any)) and unless otherwise expressly provided in this Award Agreement or determined by the Company, and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's ’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any); the Administrator Board shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Participant’s Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider providing services while on a an approved leave of absence).

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Marketo, Inc.)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of Except as otherwise provided in the Plan or this Award Agreement, the balance of the Restricted Stock Units PSUs that have not vested as of the time of Participant’s termination as a Service Provider, for any or no reason and Participant’s right to acquire any Shares hereunder, will immediately terminate upon Participant’s termination as a Service Provider. For purposes of the Restricted Stock UnitsPSUs, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any), and Participant’s right to vest in the Restricted Stock Units PSUs under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock Unit PSU grant (including whether Participant may still be considered to be a Service Provider while on a leave of absence).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Fortinet Inc)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Performance Stock Units that have not vested as of the time of Participant’s termination as a Service Provider, for any or no reason and Participant’s right to acquire any Shares hereunder, will immediately terminate upon Participant’s termination as a Service Provider. For purposes of the Restricted Performance Stock Units, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any), and Participant’s right to vest in the Restricted Performance Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Performance Stock Unit grant (including whether Participant may still be considered to be a Service Provider while on a leave of absence).

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Fortinet, Inc.)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, but subject to the vesting provisions set forth in this Award Agreement, the balance of the Shares of Restricted Stock Units that have not vested as of at the time of Participant’s termination as a Service Provider, Provider for any or reason will be forfeited (with no reason consideration due to Participant) and automatically transferred to and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will have no further rights thereunder. Participant hereby appoints the Escrow Agent with full power of substitution, as Participant’s right true and lawful attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to acquire take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares hereunder, will immediately terminate of Restricted Stock to the Company upon Participant’s such termination as a Service Provider. For purposes of the Restricted Stock UnitsStock, Participant's ’s status as a Service Provider will be considered deemed terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary one of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment labor laws in the jurisdiction where Participant is employed or rendering services providing service or the terms of Participant’s employment or other service agreement, if any), ) and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's ’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment labor laws in the jurisdiction where the Participant is employed or rendering services providing service or the terms of Participant’s employment or other service agreement, if any); the . The Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing provides services for purposes of the Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider providing services while on a leave of absence).

Appears in 1 contract

Samples: Global Restricted Stock Award Agreement (Amkor Technology, Inc.)

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Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of Except as otherwise provided in the Plans or this Award Agreement, the balance of the Restricted Stock Units PSUs that have not vested as of the time of Participant’s 's termination as a Service Provider, for any or no reason and Participant’s 's right to acquire any Shares hereunder, will immediately terminate upon Participant’s 's termination as a Service Provider. For purposes of the Restricted Stock UnitsPSUs, Participant's status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s 's employment or service agreement, if any), and Participant’s 's right to vest in the Restricted Stock Units PSUs under the PlanPlans, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s 's employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock Unit PSU grant (including whether Participant may still be considered to be a Service Provider while on a leave of absence).

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Fortinet Inc)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider, Provider for any or no reason and Participant’s right to acquire any Shares hereunder, hereunder will immediately terminate upon Participant’s termination as a Service Providerterminate. For purposes of the this Award of Restricted Stock Units, Participant's ’s status as a Service Provider will be considered terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any), and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's ’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or rendering services or the terms of Participant’s employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of the this Award of Restricted Stock Unit grant Units (including whether Participant may still be considered to be a Service Provider providing services while on a leave of absence).

Appears in 1 contract

Samples: Equity Incentive (Box Inc)

Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Award Agreement, but subject to the vesting provisions set forth in this Award Agreement and Section 4 above, the balance of the Restricted Stock Units that have not vested as of at the time of Participant’s termination as a Service Provider, Provider for any or reason will be forfeited (with no reason consideration due to Participant) and Participant’s right automatically transferred to acquire any Shares hereunder, and reacquired by the Company at no cost to the Company upon the date of such termination and Participant will immediately terminate upon Participant’s termination as a Service Providerhave no further rights thereunder. For purposes of the Restricted Stock Units, Participant's status as a Service Provider will be considered deemed terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary one of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of employment labor laws in the jurisdiction where Participant is employed or rendering services providing service or the terms of Participant’s employment or other service agreement, if any), ) and Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant's ’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment labor laws in the jurisdiction where the Participant is employed or rendering services providing service or the terms of Participant’s 's employment or other service agreement, if any); the . The Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing provides services for purposes of the Restricted Stock Unit grant (including whether Participant may still be considered to be a Service Provider providing services while on a leave of absence).

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Amkor Technology, Inc.)

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