Forfeiture on Termination. Subject to Section 2 of this Agreement, if the Grantee’s service as a Director terminates for any reason prior to the Vesting Date for the shares of Restricted Stock, the Grantee shall forfeit all rights with respect to such unvested shares of Restricted Stock, and the book entry account shall be null, void and of no effect as of the date the Grantee’s service as a Director terminates.
Appears in 3 contracts
Sources: Restricted Stock Grant Agreement (Semco Energy Inc), Restricted Stock Grant Agreement (Semco Energy Inc), Restricted Stock Grant Agreement (Semco Energy Inc)