{"component": "clause", "props": {"groups": [{"samples": [{"hash": "eJGTSvuZHWK", "uri": "/contracts/eJGTSvuZHWK#vesting-and-forfeitures", "label": "401(k) Plan and Trust Agreement (Leggett & Platt Inc)", "score": 36.3894577026, "published": true}, {"hash": "khp5AH4ZJIy", "uri": "/contracts/khp5AH4ZJIy#vesting-and-forfeitures", "label": "401(k) Plan and Trust Agreement (Leggett & Platt Inc)", "score": 29.8459949493, "published": true}], "size": 4, "snippet": "Retirement K Matching Contributions shall vest under the same vesting schedules specified in Section 8.3. Moreover, the Administrative Committee may direct that amounts in the Forfeiture Account (whether or not attributable to Retirement K Matching Contributions) be utilized to reduce future Retirement K Matching Contributions.", "snippet_links": [{"key": "matching-contributions", "type": "definition", "offset": [13, 35]}, {"key": "vesting-schedules", "type": "clause", "offset": [62, 79]}, {"key": "section-83", "type": "clause", "offset": [93, 104]}, {"key": "the-administrative-committee", "type": "clause", "offset": [116, 144]}, {"key": "forfeiture-account", "type": "clause", "offset": [176, 194]}], "hash": "6fd7560f8dc1211325500225add639de", "id": 1}, {"samples": [{"hash": "8Yi8yblZbtQ", "uri": "/contracts/8Yi8yblZbtQ#vesting-and-forfeitures", "label": "Master Contract", "score": 33.6428794861, "published": true}, {"hash": "f7VUJfAt0Ts", "uri": "/contracts/f7VUJfAt0Ts#vesting-and-forfeitures", "label": "Master Contract", "score": 33.528087616, "published": true}], "size": 4, "snippet": "These 401(a) plan accounts and VEBA accounts will be vested when the teacher completes ten (10) years of service with the school corporation. The teacher's 401(a) plan account and VEBA account will be 100% vested if the teacher dies while actively employed by the school corporation, or if the teacher is disabled under the school corporation's long-term disability plan.", "snippet_links": [{"key": "plan-accounts", "type": "definition", "offset": [13, 26]}, {"key": "veba-accounts", "type": "clause", "offset": [31, 44]}, {"key": "the-teacher", "type": "definition", "offset": [65, 76]}, {"key": "years-of-service", "type": "definition", "offset": [96, 112]}, {"key": "school-corporation", "type": "definition", "offset": [122, 140]}, {"key": "by-the-school", "type": "clause", "offset": [257, 270]}, {"key": "term-disability-plan", "type": "clause", "offset": [350, 370]}], "hash": "290a7a57af7b2503cad29b7364c291a6", "id": 2}, {"samples": [{"hash": "65bHgZhyEgP", "uri": "/contracts/65bHgZhyEgP#vesting-and-forfeitures", "label": "Nonelective Deferred Compensation Agreement (Sizeler Property Investors Inc)", "score": 21.0, "published": true}], "size": 4, "snippet": "4.1 Subject to Sections 4.2, 4.3, and 4.4, below, Executive's interest in his Account shall become vested at the rate of 0.8333 percent for each completed calendar month of Executive's employment with SPI, beginning with January, 1994. Executive's vested interest in his Account shall be recalculated at the end of each calendar month and shall be expressed as a percentage rounded to the nearest hundredth of one percent. For example: If the date of Executive's termination of employment is: His vested interest in his Account will be: January 1, 2005 December 31, 2005 100.00 percent 100.00 percent\n4.2 Notwithstanding any other provision of this Agreement, should SPI terminate Executive's employment upon a determination by its Board of Directors that Executive has breached or neglected his duties to SPI, then Executive shall forfeit completely an amount from his Account equal to the Nonelective Deferral credited to the Account as of January 1 of the year of the termination. Executive's Account balance shall be reduced by the forfeiture required by this Section 4.2 before the application of the forfeiture provisions of Section 4.5.\n4.3 Executive's interest in his Account shall automatically become fully vested upon Executive's death or disability, in either case while Executive is in the employ of SPI. Executive shall be considered disabled for purposes of this Agreement upon his qualification for benefits under any long term disability arrangement or policy maintained with respect to Executive's employment with SPI.\n4.4 Executive's interest in his Account shall automatically become fully vested upon the termination of Executive's employment with SPI under such circumstances and at such time as would, under the terms of Executive's Severance Agreement with SPI, entitle Executive to a Severance Benefit as defined in paragraph 6.3.2 of the Severance Agreement. This Section 4.4 shall apply whether or not the Severance Agreement remains in effect on the date of the termination of Executive's employment with SPI. Paragraph 6 of the Severance Agreement is attached as an appendix to this Agreement.\n4.5 Upon the termination of Executive's employment with SPI before his interest in his Account is fully vested, Executive shall forfeit that portion of his Account in which his interest is not vested, and the balance credited to his Account shall be reduced accordingly.\n4.6 Unless specifically amended by a written agreement executed by Executive and on behalf of SPI, this Section 4 shall continue to apply should Executive's employment with SPI continue notwithstanding the termination of this Agreement.", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [4, 23]}, {"key": "rate-of", "type": "clause", "offset": [113, 120]}, {"key": "calendar-month", "type": "definition", "offset": [155, 169]}, {"key": "beginning-with", "type": "clause", "offset": [206, 220]}, {"key": "vested-interest", "type": "definition", "offset": [248, 263]}, {"key": "at-the-end-of", "type": "clause", "offset": [301, 314]}, {"key": "a-percentage", "type": "definition", "offset": [361, 373]}, {"key": "rounded-to", "type": "clause", "offset": [374, 384]}, {"key": "for-example", "type": "definition", "offset": [423, 434]}, {"key": "date-of", "type": "clause", "offset": [443, 450]}, {"key": "termination-of-employment", "type": "definition", "offset": [463, 488]}, {"key": "other-provision-of-this-agreement", "type": "clause", "offset": [625, 658]}, {"key": "board-of-directors", "type": "definition", "offset": [732, 750]}, {"key": "equal-to", "type": "definition", "offset": [878, 886]}, {"key": "nonelective-deferral", "type": "definition", "offset": [891, 911]}, {"key": "the-account", "type": "clause", "offset": [924, 935]}, {"key": "the-year", "type": "definition", "offset": [955, 963]}, {"key": "account-balance", "type": "clause", "offset": [996, 1011]}, {"key": "required-by", "type": "definition", "offset": [1047, 1058]}, {"key": "section-42", "type": "clause", "offset": [1064, 1075]}, {"key": "application-of-the", "type": "clause", "offset": [1087, 1105]}, {"key": "provisions-of", "type": "clause", "offset": [1117, 1130]}, {"key": "section-45", "type": "clause", "offset": [1131, 1142]}, {"key": "fully-vested", "type": "definition", "offset": [1211, 1223]}, {"key": "upon-executive", "type": "definition", "offset": [1224, 1238]}, {"key": "death-or-disability", "type": "definition", "offset": [1241, 1260]}, {"key": "employ-of", "type": "clause", "offset": [1303, 1312]}, {"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [1357, 1387]}, {"key": "qualification-for-benefits", "type": "clause", "offset": [1397, 1423]}, {"key": "long-term-disability", "type": "clause", "offset": [1434, 1454]}, {"key": "to-executive", "type": "definition", "offset": [1501, 1513]}, {"key": "termination-of-executive", "type": "clause", "offset": [1626, 1650]}, {"key": "terms-of", "type": "definition", "offset": [1735, 1743]}, {"key": "severance-agreement", "type": "definition", "offset": [1756, 1775]}, {"key": "severance-benefit", "type": "definition", "offset": [1809, 1826]}, {"key": "paragraph-6", "type": "definition", "offset": [1841, 1852]}, {"key": "section-44", "type": "clause", "offset": [1890, 1901]}, {"key": "effect-on-the", "type": "clause", "offset": [1964, 1977]}, {"key": "to-this-agreement", "type": "clause", "offset": [2104, 2121]}, {"key": "the-balance", "type": "clause", "offset": [2328, 2339]}, {"key": "by-executive", "type": "clause", "offset": [2458, 2470]}, {"key": "on-behalf-of", "type": "clause", "offset": [2475, 2487]}, {"key": "to-apply", "type": "clause", "offset": [2523, 2531]}, {"key": "notwithstanding-the", "type": "definition", "offset": [2580, 2599]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [2600, 2629]}], "hash": "9dc046d7ede04e0520293ca5397e8132", "id": 3}, {"samples": [{"hash": "dl3nvfv5hzA", "uri": "/contracts/dl3nvfv5hzA#vesting-and-forfeitures", "label": "Nonelective Deferred Compensation Agreement", "score": 31.3408622742, "published": true}, {"hash": "7c8VDai31a7", "uri": "/contracts/7c8VDai31a7#vesting-and-forfeitures", "label": "Nonelective Deferred Compensation Agreement (Sizeler Property Investors Inc)", "score": 21.0, "published": true}], "size": 2, "snippet": "(a) Subject to Sections 4.2, 4.3, and 4.4, below: Executive's interest in his Account shall become vested at the rate of 2.7778 percent for each completed calendar month of Executive's employment with SPI, beginning with January, 2005. Executive's vested interest in his Account shall be recalculated at the end of each calendar month and shall be expressed as a percentage rounded to the nearest hundredth of one percent. For example: If the date of Executive's termination of employment is: His vested interest in his Account will be: January 15, 2006 December 15, 2006 December 31, 2007 33.33 percent 63.89 percent 100.00 percent", "snippet_links": [{"key": "subject-to-sections", "type": "clause", "offset": [4, 23]}, {"key": "rate-of", "type": "clause", "offset": [113, 120]}, {"key": "calendar-month", "type": "definition", "offset": [155, 169]}, {"key": "beginning-with", "type": "clause", "offset": [206, 220]}, {"key": "vested-interest", "type": "definition", "offset": [248, 263]}, {"key": "at-the-end-of", "type": "clause", "offset": [301, 314]}, {"key": "a-percentage", "type": "definition", "offset": [361, 373]}, {"key": "rounded-to", "type": "clause", "offset": [374, 384]}, {"key": "for-example", "type": "definition", "offset": [423, 434]}, {"key": "date-of", "type": "clause", "offset": [443, 450]}, {"key": "termination-of-employment", "type": "definition", "offset": [463, 488]}], "hash": "b6d844e9ec7ab0e28b9c048c19c9b9fb", "id": 4}, {"samples": [{"hash": "9DNQNCd3AgS", "uri": "/contracts/9DNQNCd3AgS#vesting-and-forfeitures", "label": "Restricted Stock Unit Agreement (Joe's Jeans Inc.)", "score": 19.0, "published": true}], "size": 2, "snippet": "Employee will vest in 12.50% of the Restricted Stock Units covered by this Award on the six (6) month anniversary of the Grant Date and an additional 12.50% on each six (6) month anniversary thereafter; provided, that, Employee has not experienced a \u201cseparation from service\u201d (within the meaning of Section 409A of the Code, including Section 1.409A-1(h) of the Final Treasury Regulations promulgated thereunder) (a \u201cSeparation from Service\u201d) through each of such vesting dates. Upon the occurrence of a Change in Control, the Restricted Stock Units shall become 100% vested on such event. The Restricted Stock Units which have not vested in accordance with the vesting schedule in this \u00a7 3 (the \u201cUnvested Units\u201d) shall become vested upon the earliest to occur of Employee\u2019s death, Disability, or Separation from Service by the Company without Just Cause (as defined below). Upon a Separation from Service for any other reason (including, without limitation, termination by the Company for Just Cause or by Employee for any reason) prior to the date that Employee becomes 100% vested in the Award, the Unvested Units shall be forfeited immediately and Employee shall have no right with respect to the Unvested Units. For purposes of this Agreement and notwithstanding any other provision of the Plan to the contrary, \u201cJust Cause\u201d means (a) Employee\u2019s conviction for, or a plea of guilty or nolo contendere to, a felony or any other crime which involves fraud, dishonesty or moral turpitude, or (b) a material breach by Employee of any written Company employment policies or rules, including the Company\u2019s code of ethics.", "snippet_links": [{"key": "employee-will", "type": "clause", "offset": [0, 13]}, {"key": "covered-by", "type": "definition", "offset": [59, 69]}, {"key": "grant-date", "type": "clause", "offset": [121, 131]}, {"key": "an-additional", "type": "clause", "offset": [136, 149]}, {"key": "employee-has", "type": "clause", "offset": [219, 231]}, {"key": "separation-from-service", "type": "clause", "offset": [251, 274]}, {"key": "meaning-of", "type": "definition", "offset": [288, 298]}, {"key": "section-409a-of-the-code", "type": "clause", "offset": [299, 323]}, {"key": "the-final", "type": "clause", "offset": [358, 367]}, {"key": "treasury-regulations", "type": "definition", "offset": [368, 388]}, {"key": "vesting-dates", "type": "definition", "offset": [464, 477]}, {"key": "occurrence-of-a-change-in-control", "type": "clause", "offset": [488, 521]}, {"key": "in-accordance-with", "type": "definition", "offset": [639, 657]}, {"key": "vesting-schedule", "type": "clause", "offset": [662, 678]}, {"key": "unvested-units", "type": "clause", "offset": [697, 711]}, {"key": "of-employee", "type": "clause", "offset": [761, 772]}, {"key": "without-just-cause", "type": "clause", "offset": [836, 854]}, {"key": "for-any-other-reason", "type": "clause", "offset": [906, 926]}, {"key": "without-limitation", "type": "clause", "offset": [939, 957]}, {"key": "cause-or-by-employee", "type": "clause", "offset": [995, 1015]}, {"key": "for-any-reason", "type": "clause", "offset": [1016, 1030]}, {"key": "prior-to-the", "type": "clause", "offset": [1032, 1044]}, {"key": "employee-becomes", "type": "definition", "offset": [1055, 1071]}, {"key": "the-award", "type": "clause", "offset": [1087, 1096]}, {"key": "no-right", "type": "clause", "offset": [1172, 1180]}, {"key": "with-respect-to", "type": "clause", "offset": [1181, 1196]}, {"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [1217, 1247]}, {"key": "the-plan", "type": "clause", "offset": [1291, 1299]}, {"key": "nolo-contendere", "type": "clause", "offset": [1390, 1405]}, {"key": "moral-turpitude", "type": "definition", "offset": [1474, 1489]}, {"key": "material-breach-by-employee", "type": "clause", "offset": [1500, 1527]}, {"key": "company-employment-policies", "type": "clause", "offset": [1543, 1570]}, {"key": "code-of-ethics", "type": "clause", "offset": [1605, 1619]}], "hash": "46a25ed498db0062dd089b5b48df0a39", "id": 5}, {"samples": [{"hash": "4NokT3FZGLO", "uri": "/contracts/4NokT3FZGLO#vesting-and-forfeitures", "label": "Restricted Stock Agreement (Ethan Allen Interiors Inc)", "score": 19.0, "published": true}], "size": 2, "snippet": "SHARES SHALL CEASE TO BE RESTRICTED STOCK AND SHALL BECOME VESTED IN ACCORDANCE WITH THE FOLLOWING SCHEDULE PROVIDED THE EXECUTIVE IS EMPLOYED BY THE COMPANY ON THE FOLLOWING VESTING DATES. [Time Vesting Alternative:] [Performance Vesting Alternative:] [Insert description/calculation of performance measure]. Any shares of Restricted Stock which do not vest on a Vesting Date shall be immediately forfeited by the Executive, and returned and released to the Company, and the Executive thereafter shall have no further rights with respect to such shares. During the Restricted Period, all certificates evidencing the Restricted Stock will be imprinted will the following legend: \"The securities evidenced by this certificate are subject to the transfer restrictions, forfeitures and other provisions of the Restricted Stock Agreement, dated as of ______________ between Ethan \u2587\u2587\u2587\u2587\u2587 Interiors Inc. and __________.\"", "snippet_links": [{"key": "in-accordance-with", "type": "definition", "offset": [66, 84]}, {"key": "employed-by-the-company", "type": "definition", "offset": [134, 157]}, {"key": "vesting-dates", "type": "definition", "offset": [175, 188]}, {"key": "time-vesting", "type": "clause", "offset": [191, 203]}, {"key": "performance-vesting", "type": "definition", "offset": [219, 238]}, {"key": "performance-measure", "type": "definition", "offset": [288, 307]}, {"key": "shares-of-restricted-stock", "type": "clause", "offset": [314, 340]}, {"key": "by-the-executive", "type": "clause", "offset": [408, 424]}, {"key": "to-the-company", "type": "definition", "offset": [452, 466]}, {"key": "no-further-rights", "type": "clause", "offset": [508, 525]}, {"key": "with-respect-to", "type": "clause", "offset": [526, 541]}, {"key": "during-the-restricted-period", "type": "clause", "offset": [555, 583]}, {"key": "the-restricted-stock", "type": "clause", "offset": [613, 633]}, {"key": "the-securities", "type": "clause", "offset": [680, 694]}, {"key": "transfer-restrictions", "type": "definition", "offset": [744, 765]}, {"key": "provisions-of-the", "type": "clause", "offset": [789, 806]}, {"key": "restricted-stock-agreement", "type": "clause", "offset": [807, 833]}, {"key": "dated-as-of", "type": "definition", "offset": [835, 846]}], "hash": "1b65e87f18c816014e1a31101034c87a", "id": 6}, {"samples": [{"hash": "eJGTSvuZHWK", "uri": "/contracts/eJGTSvuZHWK#vesting-and-forfeitures", "label": "401(k) Plan and Trust Agreement (Leggett & Platt Inc)", "score": 36.3894577026, "published": true}], "size": 1, "snippet": "\u2587\u2587\u2587\u2587\u2587 K Matching Contributions shall vest under the same vesting schedules specified in Section 8.3. Moreover, the Administrative Committee may direct that amounts in the Forfeiture Account (whether or not attributable to \u2587\u2587\u2587\u2587\u2587 K Matching Contributions) be utilized to reduce future \u2587\u2587\u2587\u2587\u2587 K Matching Contributions.", "snippet_links": [{"key": "matching-contributions", "type": "definition", "offset": [8, 30]}, {"key": "vesting-schedules", "type": "clause", "offset": [57, 74]}, {"key": "section-83", "type": "clause", "offset": [88, 99]}, {"key": "the-administrative-committee", "type": "clause", "offset": [111, 139]}, {"key": "forfeiture-account", "type": "clause", "offset": [171, 189]}], "hash": "87044138f1b2d475a9430640c42bbf10", "id": 7}, {"samples": [{"hash": "kigArIhuczx", "uri": "/contracts/kigArIhuczx#vesting-and-forfeitures", "label": "Employment Agreement (CBCT Bancshares Inc)", "score": 18.0, "published": true}], "size": 1, "snippet": "24 7.1 Vesting on Death, Disability and Normal Retirement..............24 7.2 Vesting on Termination of Participation.........................24 7.3 Disposition of Forfeitures......................................24", "snippet_links": [{"key": "on-death", "type": "clause", "offset": [15, 23]}, {"key": "normal-retirement", "type": "definition", "offset": [40, 57]}, {"key": "termination-of-participation", "type": "definition", "offset": [89, 117]}, {"key": "disposition-of-forfeitures", "type": "clause", "offset": [149, 175]}], "hash": "0d4e6d19e7ddf23413abb7ed61169274", "id": 8}, {"samples": [{"hash": "juqFuXhkEfi", "uri": "/contracts/juqFuXhkEfi#vesting-and-forfeitures", "label": "Restricted Stock Agreement (Houston Exploration Co)", "score": 19.0, "published": true}], "size": 1, "snippet": "Director will vest in the Restricted Stock if Director continuously remains a director of the Company or an Affiliate through the earlier of (i) three years from the date of grant or (ii) such date as Director\u2019s continuous service as a director with the Company or an Affiliate terminates by reason of death, disability or retirement. Director also will vest in all of the shares of Restricted Stock immediately prior to a Change of Control if Director has continued to serve as a director of the Company or an Affiliate until such time. If Director voluntarily resigns, declines to stand for re-election or is removed from the Board, Director will forfeit all unvested shares, unless the Board, in its discretion, accelerates vesting upon such termination. A transfer from the Board to the board of directors of an Affiliate, however, will not be treated as a termination of service on the Board under this \u00a7 2. The shares forfeited under this \u00a7 2 (together with any distributions made with respect to the shares that have been held by the Company) automatically will revert back to the Company.", "snippet_links": [{"key": "the-restricted-stock", "type": "clause", "offset": [22, 42]}, {"key": "director-of-the-company", "type": "definition", "offset": [78, 101]}, {"key": "an-affiliate", "type": "clause", "offset": [105, 117]}, {"key": "date-of-grant", "type": "definition", "offset": [166, 179]}, {"key": "continuous-service-as-a-director", "type": "definition", "offset": [212, 244]}, {"key": "by-reason-of-death", "type": "clause", "offset": [289, 307]}, {"key": "disability-or-retirement", "type": "clause", "offset": [309, 333]}, {"key": "shares-of-restricted-stock", "type": "clause", "offset": [373, 399]}, {"key": "prior-to-a-change-of-control", "type": "clause", "offset": [412, 440]}, {"key": "to-serve", "type": "definition", "offset": [467, 475]}, {"key": "voluntarily-resigns", "type": "clause", "offset": [550, 569]}, {"key": "declines-to", "type": "clause", "offset": [571, 582]}, {"key": "unvested-shares", "type": "definition", "offset": [661, 676]}, {"key": "in-its-discretion", "type": "clause", "offset": [696, 713]}, {"key": "vesting-upon", "type": "clause", "offset": [727, 739]}, {"key": "transfer-from", "type": "clause", "offset": [760, 773]}, {"key": "the-board-of-directors", "type": "clause", "offset": [787, 809]}, {"key": "termination-of-service-on-the-board", "type": "clause", "offset": [861, 896]}, {"key": "with-respect-to", "type": "clause", "offset": [987, 1002]}, {"key": "by-the-company", "type": "clause", "offset": [1034, 1048]}, {"key": "revert-back", "type": "clause", "offset": [1069, 1080]}, {"key": "to-the-company", "type": "definition", "offset": [1081, 1095]}], "hash": "3507a326f9b6324c20ff0295a13e53f6", "id": 9}, {"samples": [{"hash": "lVp5irOb7WJ", "uri": "/contracts/lVp5irOb7WJ#vesting-and-forfeitures", "label": "Defined Contribution Pre Approved Adoption Agreement", "score": 36.2600975037, "published": true}], "size": 1, "snippet": "All Elective Deferrals, Voluntary After-Tax Contributions, Prevailing Wage Contributions, Traditional Safe Harbor ADP Contributions, QNECs, QMACs, and SIMPLE 401(k) Contributions will be 100% vested and nonforfeitable at all times.", "snippet_links": [{"key": "elective-deferrals", "type": "definition", "offset": [4, 22]}, {"key": "tax-contributions", "type": "clause", "offset": [40, 57]}, {"key": "prevailing-wage-contributions", "type": "clause", "offset": [59, 88]}, {"key": "safe-harbor", "type": "definition", "offset": [102, 113]}, {"key": "at-all-times", "type": "definition", "offset": [218, 230]}], "hash": "6975cb2232dc079cfd0b27ab9eb5a4e5", "id": 10}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiB2ZXN0aW5nLWFuZC1mb3JmZWl0dXJlcyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 45, "title": "Vesting and Forfeitures", "parents": [["distributions", "Distributions"], ["recognition", "Recognition"], ["association-leave", "Association Leave"], ["wage-salary-related-fringe-benefits", "Wage Salary Related Fringe Benefits"], ["eligibility-and-participation", "Eligibility and Participation"]], "children": [["forfeitures", "Forfeitures"], ["vesting-schedule", "Vesting Schedule"], ["company-deferrals-general-rule", "Company Deferrals, General Rule"], ["company-deferrals-accelerated-vesting", "Company Deferrals, Accelerated Vesting"], ["participant-deferrals", "Participant Deferrals"]], "id": "vesting-and-forfeitures", "related": [["vesting-and-forfeiture", "Vesting and Forfeiture", "Vesting and Forfeiture"], ["vesting-forfeiture", "Vesting; Forfeiture", "Vesting; Forfeiture"], ["vesting-and-exercisability", "Vesting and Exercisability", "Vesting and Exercisability"], ["vesting-requirements", "Vesting Requirements", "Vesting Requirements"], ["restrictions-forfeiture", "Restrictions; Forfeiture", "Restrictions; Forfeiture"]], "related_snippets": [], "updated": "2025-12-01T05:47:14+00:00", "also_ask": ["What are the most negotiable elements in vesting schedules for each party?", "Which specific forfeiture triggers must be clearly defined to avoid ambiguity?", "How do local laws impact the enforceability of vesting and forfeiture provisions?", "What are the most common pitfalls that lead to unenforceable forfeiture clauses?", "How do these provisions compare to standard market practice in similar agreements?"], "drafting_tip": "Specify vesting schedules and forfeiture conditions to prevent disputes; define triggering events clearly to ensure enforceability; align terms with applicable laws to maintain validity.", "explanation": "The \"Vesting and Forfeitures\" clause defines the conditions under which an individual earns the right to certain benefits, such as stock options or retirement plan contributions, and the circumstances that may cause them to lose these rights. Typically, this clause outlines a schedule or milestones that must be met for benefits to become fully owned (vested), and specifies events\u2014such as resignation, termination for cause, or failure to meet performance targets\u2014that can result in forfeiture of unvested benefits. Its core function is to incentivize continued service or performance while protecting the company from granting benefits to individuals who do not fulfill agreed-upon obligations."}, "json": true, "cursor": ""}}