Common use of Forfeiture Conditions Clause in Contracts

Forfeiture Conditions. Notwithstanding anything to the contrary in this Agreement, if the Company determines, in its sole discretion, that you have engaged in, at any time, any act that constitutes “Cause” (as defined in paragraph 7(b)), whether or not you cease to be an Employee because your employment is terminated by the Company for Cause, then (i) you shall immediately forfeit all or such portion of this Award and any right to receive Shares that have not yet been issued pursuant to Section 4 and related dividend equivalent payments, as determined by the Committee in its sole discretion, and (ii) with respect to Shares that have been issued pursuant to this Award (or the cash value thereof paid) after the applicable Vesting Date, either (A) you shall return such Shares and related dividend equivalent payments to the Company, or (B) you shall pay to the Company in cash an amount equal to the Fair Market Value of such Shares as of the applicable Vesting Date (or equal to the cash value previously paid), along with the amount of related dividend equivalent payments on such Shares, in each case, in such amounts as determined by the Committee in its sole discretion.

Forfeiture Conditions. Notwithstanding anything to the contrary in this Agreement, if the Company determines, in its sole discretion, that you have engaged in, at any time, any act that constitutes “Cause” (as defined in paragraph 7(b)), whether or not you cease to be an Employee because your employment is terminated by the Company for Cause, then (i) you shall immediately forfeit all or such portion of this Award and any right to receive Shares that have not yet been issued pursuant to Section 4 5 and related dividend equivalent payments, as determined by the Committee in its sole discretion, and (ii) with respect to Shares that have been issued pursuant to this Award (or the cash value thereof paid) after the applicable Vesting Date, either (A) you shall return such Shares and related dividend equivalent payments the Total Dividend Equivalent Amount paid to you to the Company, or (B) you shall pay to the Company in cash an amount equal to the Fair Market Value of such Shares as of the applicable Vesting Date (or equal to the cash value previously paid), along with the amount of related dividend equivalent payments on such SharesTotal Dividend Equivalent Amount paid to you, in each case, in such amounts as determined by the Committee in its sole discretion.