Forfeiture of Shares upon Termination of Employment during Period of Restriction Sample Clauses

Forfeiture of Shares upon Termination of Employment during Period of Restriction. Employee shall immediately forfeit to the Corporation all Restricted Shares that have not previously been released from the restrictions under Section 3 hereof, without any consideration paid to Employee, and, thereafter, Employee shall have no further rights with respect to such Restricted Shares upon either (i) the voluntary termination by Employee of her employment under the Employment Agreement during the Period of Restriction, or (ii) if the services of Employee under the Employment Agreement shall be terminated by the Corporation during the Period of Restriction for Cause (as such term is defined in the Employment Agreement).
Sample 1
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Forfeiture of Shares upon Termination of Employment during Period of Restriction. If the services of Employee to the Corporation shall be terminated during the Period of Restriction for any reason other than a termination by the Corporation without cause (as such term is defined in the Employment Agreement), Employee shall immediately forfeit to the Corporation all Restricted Shares that have not previously vested as provided in Section 4 hereof, without any consideration paid to Employee, and, thereafter, Employee shall have no further rights with respect to such Restricted Shares.
Sample 1
Forfeiture of Shares upon Termination of Employment during Period of Restriction. If the services of Executive to the Corporation shall be terminated during the Period of Restriction for any reason, Executive shall immediately forfeit to the Corporation all Restricted Shares that have not previously vested as provided in Section 4 hereof, without any consideration paid to Executive, and, thereafter, Executive shall have no further rights with respect to such Restricted Shares.
Sample 1

Related to Forfeiture of Shares upon Termination of Employment during Period of Restriction

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Exercise Period Upon Death or Disability If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • 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.

  • Company Obligations Upon Termination of Employment Upon any termination of your employment, the Company will pay to you, in a lump sum in cash within 30 days after the date of termination, the sum of (i) your fixed compensation through the date of termination, (ii) any fully earned but unpaid variable compensation through the date of termination, and (iii) any accrued but unpaid vacation (together, the "Accrued Obligations").

  • Termination of Executives Employment Termination of Executive's Employment means that (i) the Company has terminated Executive's employment with the Company (including any subsidiary of the Company) other than for Cause (as defined in Section 5.2), death or Disability (as defined in Section 5.3), or (ii) Executive, by written notice to the Company, has terminated his employment with the Company (including any subsidiary of the Company) for Good Reason (as defined below). For purposes of this Agreement, "Good Reason" means:

  • Forfeiture of Restricted Stock Upon the termination of your employment by you, the Company or its Subsidiaries for any reason other than those set forth in Section 4 hereof prior to such vesting, in addition to the circumstance described in Section 9(a) hereof, any and all Shares of Restricted Stock which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited and shall revert to the Company.

  • Period of Restriction (i) The Restricted Stock Units subject to the Award shall be restricted during the period (the “Period of Restriction”) commencing on the Award Date and expiring on the first to occur of:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Compensation Upon Termination or During Disability In the event Executive is disabled or his employment terminates during the Employment Period, the Company shall provide Executive with the payments and benefits set forth below. Executive acknowledges and agrees that the payments set forth in this Section 8 constitute liquidated damages for termination of his employment during the Employment Period.

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