Common use of Forfeiture Provision Clause in Contracts

Forfeiture Provision. The Company shall reacquire the Restricted Shares, and the Grantee will be deemed to have transferred the Restricted Shares to the Company in the event that the Grantee holds any Restricted Shares when his or her employment is terminated (except as otherwise set forth in Section 3(d) of this Agreement). The Company shall reacquire the Restricted Shares pursuant to this forfeiture provision without the payment of any consideration effective on the date of the Grantee’s termination of employment with the Company. From and after such time, the Grantee shall no longer have any rights as a holder of the Restricted Shares and such Restricted Shares shall be deemed to have been reacquired by and transferred to the Company. Once a forfeiture is effected, this award shall be cancelled with respect to the Restricted Shares and the Company shall have no further obligation with respect thereto.

Forfeiture Provision. The Company shall reacquire the Restricted Shares, Shares and the Grantee will be deemed to have transferred the Restricted Shares to the Company in the event that the Grantee holds any Restricted Shares when his or her employment is terminated (except as otherwise set forth in Section 3(d) of this Agreement)terminated. The Company shall reacquire the Restricted Shares pursuant to this forfeiture provision without the payment of any consideration effective on the date of the Grantee’s termination of employment with the Company. From and after such time, the Grantee shall no longer have any rights as a holder of the Restricted Shares and such Restricted Shares shall be deemed to have been reacquired by and transferred to the Company. Once a forfeiture is effected, this award shall be cancelled with respect to the Restricted Shares and the Company shall have no further obligation with respect thereto.

Forfeiture Provision. The Company shall reacquire the Restricted Shares, and the Grantee will be deemed to have transferred the Restricted Shares to the Company in the event that the Grantee holds any Restricted Shares when his or her employment is terminated (except as otherwise set forth in Section 3(d) of this Agreement)terminated. The Company shall reacquire the Restricted Shares pursuant to this forfeiture provision without the payment of any consideration effective on the date of the Grantee’s termination of employment with the Company. From and after such time, the Grantee shall no longer have any rights as a holder of the Restricted Shares and such Restricted Shares shall be deemed to have been reacquired by and transferred to the Company. Once a forfeiture is effected, this award shall be cancelled with respect to the Restricted Shares and the Company shall have no further obligation with respect thereto.

Forfeiture Provision. The Company shall have the right to reacquire the Restricted Shares, Shares and the Grantee will be deemed to have transferred the Restricted Shares to the Company in the event that the Grantee holds any unvested Restricted Shares when his or her employment is terminated (except as otherwise set forth in Section 3(d) of this Agreement). The Company shall reacquire the Restricted Shares pursuant to this forfeiture provision without the payment of any consideration effective on the date of the Grantee’s 's termination of employment with the Company. From and after such time, the Grantee shall no longer have any rights as a holder of the Restricted Shares and such Restricted Shares shall be deemed to have been reacquired by and transferred to the Company. Once a forfeiture is effected, this award shall be cancelled with respect to the Restricted Shares and the Company shall have no further obligation with respect thereto.