FORFEITURE OF SHARES definition

FORFEITURE OF SHARES. In the event you Separate from Service for any reason (other than as a result of your death or Disability) prior to [the] [any] Vesting Date, then all unvested Shares subject to this award will be forfeited as of the date of your Separation from Service and any rights with respect to such forfeited Shares will immediately cease.”
Sample 1

Examples of FORFEITURE OF SHARES in a sentence

  • FORFEITURE OF SHARES Notice may be given if call or instalment not paid 27 If any call or instalment of a call remains unpaid on any share after the day appointed for payment, the Directors may at any time serve a notice on the holder requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued, and all expenses that may have been incurred by the Company by reason of such non-payment.

  • THE EMPLOYEE ACKNOWLEDGES AND AGREES THAT THE FORFEITURE OF SHARES IN ACCORDANCE WITH THIS SECTION IS IN ADDITION TO ANY OTHER REMEDIES WHICH THE COMPANY MAY HAVE AT LAW, IN EQUITY, OR OTHERWISE.

  • DIRECTOR FURTHER ACKNOWLEDGES THAT THE COMPANY IS NOT RESPONSIBLE FOR FILING THE DIRECTOR'S 83(b) ELECTION, AND THE COMPANY HAS DIRECTED DIRECTOR TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE, THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH DIRECTOR MAY RESIDE AND THE TAX CONSEQUENCES OF DIRECTOR'S DEATH AND OF GRANTEE'S DEATH OR FORFEITURE OF SHARES AFTER AN 83(b) ELECTION.

  • FORFEITURE OF SHARES If a member fails to pay any call or instalment of a call on the day appointed for payment thereof the directors may, at any time thereafter during such time as any part of the call or instalment remains unpaid, serve a notice on him requiring payment of so much of the call or instalment as is unpaid, together with any interest which may have accrued.

  • DIRECTOR FURTHER ACKNOWLEDGES THAT THE COMPANY IS NOT RESPONSIBLE FOR FILING THE DIRECTOR’S 83(b) ELECTION, AND THE COMPANY HAS DIRECTED DIRECTOR TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE, THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH DIRECTOR MAY RESIDE AND THE TAX CONSEQUENCES OF DIRECTOR’S DEATH OR FORFEITURE OF SHARES AFTER AN 83(b) ELECTION.

  • Application of proceeds of sale FORFEITURE OF SHARES If money payable on shares not paid notice to be given to Members.

  • THE CONTRACTOR ACKNOWLEDGES AND AGREES THAT THE FORFEITURE OF SHARES IN ACCORDANCE WITH THIS SECTION IS IN ADDITION TO ANY OTHER REMEDIES WHICH THE COMPANY MAY HAVE AT LAW, IN EQUITY, OR OTHERWISE.

  • FORFEITURE OF SHARES 15.1 If a call or instalment of a call remains unpaid after it has become due and payable the Directors may give to the Person from whom it is due not less than fourteen clear days' notice requiring payment of the amount unpaid together with any interest which may have accrued and any expenses incurred by the Company by reason of such non-payment.

  • GRANTEE FURTHER ACKNOWLEDGES THAT THE COMPANY IS NOT RESPONSIBLE FOR FILING THE GRANTEE’S 83(b) ELECTION, AND THE COMPANY HAS DIRECTED GRANTEE TO SEEK INDEPENDENT ADVICE REGARDING THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE, THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH GRANTEE MAY RESIDE AND THE TAX CONSEQUENCES OF GRANTEE’S DEATH OR FORFEITURE OF SHARES AFTER AN 83(b) ELECTION.

  • FORFEITURE OF SHARES WHERE CALLS OR OTHER AMOUNTS UNPAID The Board may commence procedures in accordance with the Fifth Schedule for forfeiture of any shares if the holder fails to pay: 34.1 a call, or an installment of a call, on those shares; or 34.2 any amount that is payable under this constitution or the terms of issue of those shares or any contract for the issue of the shares.

Related to FORFEITURE OF SHARES

  • Forfeiture means that portion of a Participant's Account that is not Vested, and occurs on the earlier of:

  • Plan Shares means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Award Shares means Shares covered by an outstanding Award or purchased under an Award.

  • Forfeiture Restrictions means any prohibitions and restrictions set forth herein with respect to the sale or other disposition of Shares issued to the Recipient hereunder and the obligation to forfeit and surrender such shares to the Company.

  • RSUs means that number of Restricted Stock Units listed in the Award Notice as “Restricted Stock Units Granted.”

  • Restricted Stock Grant means Shares awarded under the Plan as provided in Section 9.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Restricted Stock Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • Unvested Shares means "Unvested Shares" as defined in the Award Agreement.

  • Restricted Stock means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Plan Share Award or "Award" means a right granted to a Participant under this Plan to earn or to receive Plan Shares.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Stock Grant means the grant of shares of Stock not subject to restrictions or other forfeiture conditions.

  • Rollover Options has the meaning provided in Subsection 3.1(h).

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Awarded Stock means the Common Stock subject to an Award.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Stock Award Agreement means a written agreement between the Company and a holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Restricted Share Award means an award of Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(a).

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.