Common use of Repayment of Awards Clause in Contracts

Repayment of Awards. The Restricted Shares shall be subject to the provisions of Section 19 of the Plan regarding forfeiture and repayment of awards in the event of termination of the Grantee’s service as a member of the Board for Cause. This Section 3(b) shall survive and continue in full force in accordance with its terms and the terms of the Plan notwithstanding any termination of the Grantee’s service as a member of the Board or the vesting of the Restricted Shares as provided herein.

Appears in 3 contracts

Samples: Restricted Shares Award Agreement (Global Power Equipment Group Inc.), Restricted Shares Award Agreement (Global Power Equipment Group Inc.), Restricted Shares Award Agreement (Global Power Equipment Group Inc.)

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Repayment of Awards. The Restricted Shares Share Units shall be subject to the provisions of Section 19 of the Plan regarding forfeiture and repayment of awards in the event of termination of the Grantee’s service employment for Cause or as a member of provided pursuant to the Board for CauseCompany’s Compensation Recovery Policy. This Section 3(b) shall survive and continue in full force in accordance with its terms and the terms of the Plan notwithstanding any termination of the Grantee’s service as a member of the Board employment or the vesting payment of the Restricted Shares Share Units as provided herein.

Appears in 1 contract

Samples: Employment Agreement (Global Power Equipment Group Inc.)

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