Common use of Termination of PSUs Clause in Contracts

Termination of PSUs. Except as set forth in this Agreement, if the Participant ceases to be employed by, or provide service to, the Employer for any reason before any of the PSUs vest, any unvested PSUs shall automatically terminate and shall be forfeited as of the date of the Participant’s termination of employment or service. No payment shall be made with respect to any unvested PSUs that terminate as described in this Section 4.

Appears in 8 contracts

Samples: Performance Stock Unit Agreement (Allegro Microsystems Inc), Performance Stock Unit Agreement (Allegro Microsystems, Inc.), Transformation Performance Stock Unit Agreement (Covetrus, Inc.)

AutoNDA by SimpleDocs

Termination of PSUs. Except as set forth in Until vested pursuant to Section 3.1 or 3.2, all PSUs issued to the Participant pursuant to this AgreementAgreement shall terminate immediately upon the Participant’s Termination of Employment. For the avoidance of doubt, if the Participant ceases experiences a Termination of Employment prior to be employed by, or provide service to, the Employer a Vesting Date for any reason before any of the PSUs vest, any unvested PSUs shall automatically terminate and shall be forfeited as of the date of the Participant’s termination of employment or service. No payment shall be made with respect to any unvested PSUs that terminate as not described in Section 3.1 or 3.2(b), all PSUs issued to the Participant pursuant to this Section 4Agreement shall immediately terminate.

Appears in 3 contracts

Samples: Performance Stock Unit Agreement (Owens Illinois Inc /De/), Performance Stock Unit Agreement (Owens-Illinois Group Inc), Performance Stock Unit Agreement (Owens Illinois Inc /De/)

Termination of PSUs. Except as set forth in this Agreement, if If the Participant ceases to be employed by, experiences a termination of employment or provide service to, the Employer for any reason before any of prior to the applicable Vesting Date, the PSUs vest, any unvested PSUs shall automatically terminate and shall be terminated and forfeited as of the date of the Participant’s termination of employment or service. , except as otherwise set forth on Exhibit A. No payment shall be made with respect to any unvested PSUs that terminate as described in this Section 4.

Appears in 1 contract

Samples: Performance Stock Unit Agreement (Allegro Microsystems, Inc.)

Termination of PSUs. Except as set forth Unless provided otherwise in this AgreementSchedule I, if the Participant ceases to be employed by, or provide service to, the Employer for any reason before any all of the PSUs vest, any unvested PSUs shall automatically terminate and shall be forfeited as of the date of the Participant’s termination of employment or service. No payment shall be made with respect to any unvested PSUs that terminate as described in this Section 4.

Appears in 1 contract

Samples: Performance Restricted Stock Unit Agreement (CarGurus, Inc.)

AutoNDA by SimpleDocs

Termination of PSUs. Except as set forth in this Agreement, if the Participant ceases to be employed by, or provide service to, the Employer for any reason before any of the PSUs vest, any unvested PSUs shall automatically terminate and shall be forfeited as of the date of Upon the Participant’s termination Termination of employment or service. No payment shall be made with respect to Service for any reason, all then-unvested PSUs issued to the Participant pursuant to this Agreement (after taking into account any vesting that may occur in connection with such Termination of Service, if any) shall immediately terminate as described in this Section 4and be cancelled and forfeited.

Appears in 1 contract

Samples: Performance Stock Unit Agreement (O-I Glass, Inc. /DE/)

Time is Money Join Law Insider Premium to draft better contracts faster.