Forfeiture of the Restricted Shares Clause Samples

The "Forfeiture of the Restricted Shares" clause defines the conditions under which an individual loses their rights to certain shares that are subject to restrictions, typically in the context of employee equity compensation. This clause usually specifies events such as termination of employment, failure to meet vesting requirements, or violation of company policies that would trigger the forfeiture. Its core practical function is to protect the company by ensuring that restricted shares are only fully granted to individuals who fulfill specific obligations or remain with the company for a designated period, thereby incentivizing retention and performance.
Forfeiture of the Restricted Shares. The Restricted Shares will be deemed forfeited by ▇▇. ▇▇▇▇▇▇ without any act by the Company or by ▇▇. ▇▇▇▇▇▇, and without the payment of any compensation to ▇▇. ▇▇▇▇▇▇ if any of the following events occurs while the Restricted Shares are still subject to the Restrictions: (a) ▇▇. ▇▇▇▇▇▇ voluntarily resigns his employment; or (b) ▇▇. ▇▇▇▇▇▇'▇ employment is terminated for Cause as that term is defined in the Employment Agreement.
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Forfeiture of the Restricted Shares. In the event of termination of Employee’s employment with the Company or any Subsidiary or affiliated company for any reason other than as otherwise provided in this Paragraph 3, Employee shall, for no consideration, forfeit all Restricted Shares to the extent they are not fully vested as of Employee’s termination date. Any question as to whether and when there has been a termination of such employment and the cause for such termination, shall be determined by the Committee, or its delegate, as appropriate, and its determination shall be final.
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Forfeiture of the Restricted Shares. The unvested Restricted Shares shall automatically be forfeited on the date that the Recipient ceases to be employed by the Company.
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Forfeiture of the Restricted Shares. If you cease to be a director of the Company prior to the Expiration Date for any reason other than your death, permanent disability or a Change of Control of the Company, the Restricted Shares will be forfeited and returned to the Company without the payment of any compensation to you.
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Forfeiture of the Restricted Shares. To the extent that the vesting of the Restricted Shares is not accelerated pursuant to Section 2(b) above, then the unvested Restricted Shares shall automatically be forfeited on the date that the Recipient ceases to perform services for the Company.
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Related to Forfeiture of the Restricted Shares

  • Forfeiture of Restricted Shares Subject to Section 4(b), if your Service to the Company or any Affiliate terminates before all of the Restricted Shares have vested, or if you attempt to transfer Restricted Shares in a manner contrary to the transfer restrictions, you will immediately forfeit all unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation.

  • Forfeiture of Restricted Stock 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 upon the termination by the Grantee, the Company or its subsidiaries of the Grantee’s employment for any reason other than those set forth in Section 4 or other than without “Cause” prior to the date on which such shares of Restricted Stock would otherwise vest. All or any portion of the Restricted Stock may be forfeited by the Grantee prior to vesting at his or her sole discretion.

  • Forfeiture of Restricted Stock Units In the event of termination of Employee’s employment with the Company or any employing Subsidiary of the Company for any reason other than (i) normal retirement on or after age 70, (ii) death or (iii) disability (disability being defined as being physically or mentally incapable of performing either the Employee’s usual duties as an Employee or any other duties as an Employee that the Company reasonably makes available and such condition is likely to remain continuously and permanently, as determined by the Company or employing Subsidiary), or except as otherwise provided in the second and third sentences of subparagraph (c) of this Paragraph 2, Employee shall, for no consideration, forfeit all Restricted Stock Units to the extent they are not fully vested.

  • Restricted Shares Employee hereby accepts the Restricted Shares when issued and agrees with respect thereto as follows:

  • Restricted Share Units Restricted Share Units means Restricted Share Units granted to Participant under the Plan subject to such terms and conditions as the Committee may determine at the time of issuance.